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Dec 31, 2021
Ducommun Q4 2021 Earnings Report
Reported an increase in revenue and net income, driven by growth in industrial and commercial aerospace markets and a gain on the sale-leaseback of the Gardena performance center.
Key Takeaways
Ducommun Incorporated reported strong Q4 2021 results, with revenue increasing by 4.5% year-over-year to $164.8 million and net income reaching $110.8 million, or $9.05 per diluted share. The company benefited from higher revenue in the industrial and commercial aerospace markets, as well as a significant gain from the sale-leaseback transaction. The backlog grew to $905 million, driven by commercial aerospace orders.
Revenue increased by 4.5% year-over-year to $164.8 million.
GAAP net income was $110.8 million, or $9.05 per diluted share.
Adjusted EBITDA increased by 40 basis points year-over-year to 14.8% of revenues.
Completed the acquisition of Magnetic Seal LLC for $69.5 million, net of cash acquired.
Revenue by Segment
Forward Guidance
In 2022, with growing travel demand and subsiding pandemic-related related restrictions, the commercial aerospace industry should continue its recovery especially in the narrow body market. Our longstanding customer relationships with Boeing, Raytheon, and other leading OEMs, along with our five year Airbus contract for titanium products awarded in 2021 are expected to drive stronger performance in 2022 and beyond.
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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