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Dec 31, 2023
Ducommun Q4 2023 Earnings Report
Reported all-time high revenue and adjusted EBITDA in 2023, with Q4 revenue reaching $192.2 million and GAAP net income of $5.1 million.
Key Takeaways
Ducommun Incorporated reported strong Q4 2023 results, with revenue of $192.2 million and GAAP net income of $5.1 million, or $0.34 per diluted share. The company's performance was driven by growth in commercial aerospace, offset by a decrease in military and space revenue. Gross margins improved, and the company ended the year with a solid backlog of approximately $994 million.
Revenue for Q4 2023 reached $192.2 million.
GAAP net income for Q4 2023 was $5.1 million, or $0.34 per diluted share.
Adjusted net income for Q4 2023 was $10.4 million, or $0.70 per diluted share.
Cash flow from operating activities for Q4 2023 was $26.5 million.
Revenue by Segment
Forward Guidance
Looking ahead to 2024, the company anticipates continued growth in its commercial aerospace business due to record order bookings and expected increases in production rates at Boeing and Airbus. The company also expects growth in its defense business, driven by significant backlog growth in military and space and continued success with off-loading initiatives.
Positive Outlook
- Record order bookings
- Anticipated growth in production rates at Boeing and Airbus
- Significant growth in backlog in military and space business
- Continued success with off-loading initiatives
- Celebrating 175th continuous year in business
Challenges Ahead
- Impact of the Company’s debt service obligations and restrictive debt covenants
- The cyclicality of the Company’s end-use markets
- The Company's ability to generate sufficient amounts of cash to run the business
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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