Astronics Q2 sales up 35% to $174.5M; net loss $12.0M; record backlog $611.1M

ASTRONICS CORP

2023-Q2 EPS reported -$0.50 revenue$330,992,000

Sales $174.5M (+35% YoY); Aerospace segment sales up 45% to $158.4M, driven by commercial transport +62%.
Net loss $12.0M ($0.37/diluted share) vs $11.0M loss a year ago; includes $8.1M tax expense on R&D capitalization.
Adjusted EBITDA $15.8M (9.1% of sales) vs $2.1M (1.6%) last year; operating income $2.4M vs loss of $8.4M.
Record backlog $611.1M; bookings $207.1M for 1.19 book-to-bill; $502M expected to ship in 12 months.
Test Systems segment operating loss $6.1M on lower defense revenue and $2.2M litigation costs; restructuring targets $4-5M annual savings.

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 three and six months ended July 1, 2023 results: revenue $174,454, net income $(11,999), EPS $0.37 per diluted share.

Period: three and six months ended July 1, 2023
Revenue: $174,454
Net income: $(11,999)
EPS: $0.37 per diluted share
Result: reported results

Exact text from the filing

August 3, 2023 Page 2 Second Quarter Results Three Months Ended Six Months Ended ($ in thousands) July 1, 2023 July 2, 2022 % Change July 1, 2023 July 2, 2022 % Change Sales $ 174,454 $ 129,127 35.1 % $ 330,992 $ 245,303 34.9 % Income (Loss) from Operations $ 2,396 $ (8,396) 128.5 % $ 26 $ (12,563) 100.2 % Operating Margin % 1.4 % (6.5) % — % (5.1) % Net Gain

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Source: SEC EDGAR

accession 0000008063-23-000044

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