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Apr 03, 2021
Ducommun Q1 2021 Earnings Report
Reported a solid start to 2021 with continued margin strength.
Key Takeaways
Ducommun Incorporated reported a decrease in revenue for the first quarter of 2021, primarily due to lower revenue in the commercial aerospace market, offset by higher revenue in the military and space markets. Net income also decreased compared to the first quarter of 2020, but the company remains optimistic about increasing build rates in the second half of 2021 and 2022.
Revenue was $157.2 million.
Net income was $6.7 million, or $0.55 per diluted share.
Adjusted net income was $7.1 million, or $0.58 per diluted share.
Gross margin was 21.1%.
Revenue by Segment
Forward Guidance
The company anticipates increasing build rates in the second half of 2021 and 2022 will have a positive impact on key aircraft platforms across customers such as Boeing, Airbus and Gulfstream.
Positive Outlook
- Increasing build rates in the second half of 2021 and 2022 will have a positive impact on key aircraft platforms.
- Pent-up demand in air travel is expected to drive increased shipments.
- Vaccination progress will ultimately drive increased shipments across a host of programs.
- 2021 looks promising for the aerospace industry.
- Ducommun is uniquely positioned to benefit as the economy continues to strengthen.
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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