Astronics Q3 prelim revenue $131M, below expectations; net loss widens to ~$15M

ASTRONICS CORP

2022-Q3 EPS reported -$0.90 revenue$376,741,000

Preliminary Q3 revenue $131M, up 18% YoY but short of expectations due to supply chain and customer reschedules.
Preliminary bookings $184M (+20% YoY) drove record backlog of $547M; aerospace orders $166M (record), test $18M.
Preliminary net loss ~$15M vs loss of $7.2M a year ago; reflects $4M legal/customer accommodation costs.
Guides Q4 revenue $140-150M and 2023 revenue $640-680M; implies FY22 ~$521M (+17% YoY).
Credit facility amended Oct 21; maximum borrowing temporarily raised to $180M; covenant waivers obtained.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ASTRONICS CORP reported third quarter of 2022 results: revenue $131 million, net income approximately $15 million. Guidance initiated.

Period: third quarter of 2022
Revenue: $131 million
Net income: approximately $15 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

--- NEWS RELEASE Exhibit 99.1 For Immediate Release Astronics Corporation Announces Third Quarter 2022 Preliminary Revenue and Orders • Preliminary third quarter revenue was $131 million, below expectations due to supply chain challenges and program reschedules • Preliminary third quarter bookings were $184 million, driving another record backlog and

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Source: SEC EDGAR

accession 0000008063-22-000049

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