Astronics Q3 sales up 25% to $203.7M; net loss $11.7M on $7M refinancing costs; revises FY24 guidance

ASTRONICS CORP

2024-Q3 EPS reported -$0.38 revenue$586,886,000

Sales $203.7M (+25%), highest since Q1 2019; Aerospace segment sales $177.6M (+24.9%).
Net loss $11.7M (incl. $7.0M debt extinguishment); adjusted net income $12.2M ($0.35 adj. EPS).
Adjusted EBITDA $27.1M (13.3% margin), up 207% YoY; Aero adj. operating margin 14.2%.
Revised FY2024 revenue guidance to $777M-$797M; Q4 sales expected $190M-$210M.
UK patent litigation: plaintiff seeks up to ~$105M; Co. reserved $7.4M; ruling expected late 2024/early 2025.

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