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Jul 03, 2021
Ducommun Q2 2021 Earnings Report
Reported a return to revenue growth and further gross margin expansion.
Key Takeaways
Ducommun Incorporated reported excellent second quarter results, benefiting from improvements in defense markets, strong operating management, and a slowly improving commercial aerospace market. Revenue increased by 9% year-over-year due to military demand, with gross margin expanding to 23% and net income improving to $0.69 per diluted share.
Revenue was $160.2 million.
Net income was $8.4 million, or $0.69 per diluted share.
Adjusted net income was $9.0 million, or $0.74 per diluted share.
Gross margin increased 80 basis points year-over-year to 23.0%.
Revenue by Segment
Forward Guidance
The company is optimistic about growth acceleration in future quarters due to the improving commercial aerospace market dynamics and their position as a supplier to Airbus.
Positive Outlook
- Ducommun was selected as an Airbus Detail Parts Partner for the first time.
- Awarded a five-year contract to provide titanium for key products on the A320 and A330 platforms.
- Strengthening position as a supplier to Airbus.
- Overall improving commercial aerospace market dynamics.
- Ducommun has the operating footprint and capacity to serve the expected higher build rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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