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Sep 26, 2020
Ducommun Q3 2020 Earnings Report
Reported a strong performance driven by defense business and operational efficiency, despite challenges in commercial aerospace.
Key Takeaways
Ducommun Incorporated reported a decrease in revenue by 17.0% year-over-year, but net income was $6.5 million, or $0.54 per diluted share. The company experienced 40% growth in military and space revenue and strong electronics operating income which buffered the impact from commercial aerospace challenges. Gross margin increased 110 basis points year-over-year to 22.3%.
Revenue was $150.4 million.
Net income of $6.5 million, or $0.54 per diluted share.
Adjusted net income of $8.3 million, or $0.69 per diluted share.
Gross margin increased 110 basis points year-over-year to 22.3%.
Revenue by Segment
Forward Guidance
Ducommun is positioned to weather remaining headwinds and is prepared for strengthening economic fundamentals and a return to revenue growth in 2021.
Positive Outlook
- Operations’ footprint and capacity are ready to support the eventual demand increases.
- Cautiously optimistic given the recent positive statements about the 737 MAX’s return to service.
Challenges Ahead
- Near term shipments within the commercial aerospace market will remain under pressure.
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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