Astronics Q2 sales up 16% but operating loss widens; cuts 2022 revenue guidance

ASTRONICS CORP

2022-Q2 EPS reported -$0.44 revenue$245,303,000

Q2 sales $129.1M (+16% YoY); operating loss $8.4M (vs $5.9M loss prior year).
Net loss $11.0M ($0.34/diluted shr) vs $8.1M loss prior year; adj EBITDA $1.2M.
Record backlog $494.4M; bookings $148.4M (book-to-bill 1.15). Aerospace backlog record $410.8M.
Amended credit facility: maturity extended to Aug 31, 2023; revolver reduced from $225M to $170M by Oct 11, 2022.
Revised 2022 revenue guidance to $550M-$580M (previously higher); H2 ramp weighted to Q4.

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