Astronics Q3 sales $162.9M (+24%), net loss $17.0M includes $11.1M bankruptcy reserve; 2023 guidance raised

ASTRONICS CORP

2023-Q3 EPS reported -$1.02 revenue$493,914,000

Sales grew 24% YoY to $162.9M; Aerospace up 26.7% to $142.1M. Nine-month sales $493.9M (+31.1%).
Net loss of $17.0M ($0.51 diluted) includes $11.1M non-cash reserve for customer bankruptcy ($0.33 per share).
Adjusted EBITDA improved to $8.8M (5.4% of sales) vs $0.5M (0.4%) in prior-year period.
Record backlog of $604.3M (excl. $19.9M bankrupt customer); book-to-bill 1.08 for quarter.
2023 revenue guidance raised to $680-690M from $640-680M; Q4 expected $185-195M, near pre-pandemic levels.

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 0.85

ASTRONICS CORP updated its the three and nine months ended September 30, 2023 guidance (raised).

Period: the three and nine months ended September 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On November 8, 2023 , Astronics Corporation issued a news release announcing its third quarter financial results for 2023.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

ASTRONICS CORP filing history →

Source: SEC EDGAR

accession 0000008063-23-000056

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