Astronics Q2 sales up 14% to $198.1M, net income $1.5M; raises 2024 guidance

ASTRONICS CORP

2024-Q2 EPS reported -$0.05 revenue$383,188,000

Q2 net income $1.5M ($0.04 diluted EPS) vs net loss of $12.0M (-$0.37) a year ago.
Adjusted EBITDA grew 28% to $20.2M (10.2% of sales); record backlog $633.4M.
Aerospace segment sales $176.9M (+11.7%); operating margin 10.9% vs 8.7% prior year.
Test Systems sales $21.2M, operating loss $5.3M; includes $3.5M cost revision on mass transit contracts.
2024 revenue guidance raised to $780-800M; Q3 revenue expected $195-205M.

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