---
schema_version: "secwatch.filing_event.v1"
accession: "0000008063-22-000057"
form_type: "8-K"
ticker: "ATRO"
cik: "0000008063"
company_name: "ASTRONICS CORP"
filed_at: "2022-11-15T23:59:59+00:00"
generated_at: "2026-06-21T19:06:24.148742+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Astronics Q3 net loss $14.9M, operating loss $14.3M; credit facility amended, 2023 sales guided $640-680M

## Summary
- Sales $131.4M (+18% YoY), but operating loss $14.3M vs $4.5M loss a year ago, including $4.6M atypical costs.
- Net loss $14.9M ($0.46/share); bookings $184.2M, backlog record $547.1M; aerospace backlog $464.3M.
- Credit facility extended to Nov 2023; leverage ratio waived; minimum EBITDA $15M (Dec 2022) and $25M (Jun 2023).
- Q4 2022 sales guidance $140-150M; 2023 sales guidance $640-680M, supported by record backlog.
- Test Systems down-selected by U.S. Army for major radio test contract; preliminarily $150-200M in future sales.

## SEC filing metadata
- accession: 0000008063-22-000057
- form_type: 8-K
- ticker: ATRO
- cik: 0000008063
- company_name: ASTRONICS CORP
- filed_at: 2022-11-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/8063/000000806322000057/0000008063-22-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8063/000000806322000057/atro-20221114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000008063-22-000057
- JSON: https://secwatch.observer/filing/0000008063-22-000057.json
- Plain text: https://secwatch.observer/filing/0000008063-22-000057.txt

## Key facts
- Debt Financings
  ASTRONICS CORP amended credit facility of $180 million with HSBC Bank USA, National Association, as Agent, and the lenders signatory thereto at one-, three- or six-month SOFR (which shall be at least 1.00%) plus 4.50% for AB maturing November 30, 2023.
  - Instrument: credit facility
  - Principal: $180 million
  - Counterparty: HSBC Bank USA, National Association, as Agent, and the lenders signatory thereto
  - Rate: one-, three- or six-month SOFR (which shall be at least 1.00%) plus 4.50% for AB
  - Maturity: November 30, 2023
  - Event: amendment
  source text: from August 31, 2023 to November 30, 2023. The Amendment set the maximum aggregate amount that the Company can borrow under the revolving credit line in the Credit Agreement at $180 million through December 20, 2022. The maximum aggregate amount available for borrowing had been scheduled to decrease to $170 million on November 21, 2022. The decrease to $170 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/8063/000000806322000057/0000008063-22-000057-index.htm
- Earnings Releases
  ASTRONICS CORP reported third quarter 2022 results: revenue $131.4 million, net income $14.9 million, EPS $0.46 per diluted share.
  - Period: third quarter 2022
  - Revenue: $131.4 million
  - Net income: $14.9 million
  - EPS: $0.46 per diluted share
  - Result: reported results
  source text: Email: dpawlowski@keiadvisors.com FOR IMMEDIATE RELEASE Astronics Corporation Reports Third Quarter 2022 Financial Results • Sales for the quarter were $131.4 million, up 18% over prior-year period • Operating loss was $14.3 million, including $4.6 million in atypical costs, a portion of which is expected to be recovered in the fourth quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/8063/000000806322000057/0000008063-22-000057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.