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Sep 30, 2023
Astronics Q3 2023 Earnings Report
Astronics reported strong Q3 2023 results, driven by increased sales and bookings, and raised its 2023 revenue guidance.
Key Takeaways
Astronics Corporation reported a 24% increase in sales to $162.9 million for the third quarter of 2023. Bookings totaled $176.0 million, and the company achieved a record backlog of $604.3 million. The company raised its 2023 revenue guidance to $680 million to $690 million.
Sales grew 24% to $162.9 million in the quarter.
Bookings totaled $176.0 million in the quarter.
Record backlog of $604.3 million, reflecting continued strong demand.
Adjusted EBITDA was $8.8 million, or 5.4% of sales, a 500 basis point improvement over the prior-year period.
Revenue by Segment
Forward Guidance
The Company expects fourth quarter revenue to be in the range of $185 million to $195 million, and 2023 revenue to be approximately $680 million to $690 million.
Positive Outlook
- Fourth quarter revenue expected to be $185 million to $195 million.
- 2023 revenue expected to be $680 million to $690 million.
- Midpoint of revenue guidance would be a 28% increase over 2022 sales.
- Expect fourth quarter revenue at pre-pandemic levels.
- Expect strong growth in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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