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Dec 31, 2022
Ducommun Q4 2022 Earnings Report
Reported strong Q4 2022 results with revenue growth and solid backlog.
Key Takeaways
Ducommun Incorporated reported a strong finish to 2022, with fourth-quarter revenue increasing by 14% to $188.3 million. The company's GAAP net income was $8.1 million, or $0.65 per diluted share, and adjusted net income was $10.6 million, or $0.85 per diluted share. The company ended the year with a strong backlog of approximately $961 million.
Revenue increased by 14% to $188.3 million.
GAAP net income was $8.1 million, or $0.65 per diluted share.
Adjusted net income was $10.6 million, or $0.85 per diluted share.
Ended the year with a backlog of $961 million, with commercial aerospace orders up 35% from 2021.
Revenue by Segment
Forward Guidance
Ducommun anticipates the commercial aerospace market recovery to continue in 2023, with both Boeing and Airbus planning on hiring 10,000 workers or more. The defense business is also expected to remain solid.
Positive Outlook
- Commercial aerospace market recovery expected to continue.
- Boeing and Airbus planning to hire 10,000+ workers each.
- Defense business expected to remain solid.
- Largest business, defense, to again be solid given the current geopolitical environment and off-loading initiatives.
- Primary markets look to be in excellent shape in 2023 and 2024.
Challenges Ahead
- Potential delivery delays or program cancellations.
- Backlog is affected by timing differences in the placement of customer orders.
- Trends in overall level of backlog may not be indicative of trends in future net revenues.
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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