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Sep 27, 2025
Astronics Q3 2025 Earnings Report
Astronics reported solid third quarter 2025 financial results with increased sales and improved operating margins.
Key Takeaways
Astronics Corporation delivered a solid third quarter, with sales increasing by 3.8% to $211.4 million, driven primarily by strong growth in the Aerospace segment. The company reported a net loss of $11.1 million, largely due to $32.6 million in refinancing-related charges, but achieved an adjusted EBITDA of $32.7 million, or 15.5% of sales. Operational progress and profitability initiatives led to significant operating margin expansion.
Third quarter sales increased 3.8% to $211.4 million, with Aerospace segment sales growing 8.5% to $192.7 million.
Net loss was $11.1 million, impacted by $32.6 million in refinancing-related charges, while adjusted EBITDA reached $32.7 million.
Aerospace operating margin improved to 16.2%, and adjusted operating margin expanded to 16.7%.
Solid quarterly bookings of $210.4 million resulted in a book-to-bill ratio of 1.00:1, with a total backlog of $646.7 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Astronics expects a strong finish to 2025, with fourth-quarter sales projected to be between $225 million and $235 million, leading to a record annual sales level for the company. The company anticipates continued strong market conditions and elevated revenue through 2026, with early indications suggesting low double-digit growth for the next year.
Positive Outlook
- Fourth quarter revenue expected to be $225 million to $235 million, a significant step up from prior quarters.
- Full-year 2025 revenue expected to be $847 million to $857 million, establishing a new record annual sales level.
- Midpoint of revised 2025 revenue range represents a 7.2% increase over 2024 sales.
- Market conditions are expected to remain strong, with elevated revenue levels continuing through 2026.
- Early outlook for 2026 suggests low double-digit growth.
Challenges Ahead
- Approximately 26% of the current backlog is not expected to be recognized as revenue within the next twelve months.
- Planned capital expenditures for 2025 are substantial, ranging from $40 million to $50 million.
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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