Astronics ( (ATRO) ) has released its Q3 earnings. Here is a breakdown of the information Astronics presented to its investors.
Astronics Corporation, a significant player in the aerospace, defense, and mission-critical industries, provides cutting-edge technology solutions including power, connectivity, and lighting systems.
In the third quarter of 2024, Astronics reported a 25% increase in sales, reaching $203.7 million, marking the highest quarterly level since early 2019. Despite a net loss of $11.7 million due to refinancing costs, the company achieved an adjusted net income of $12.2 million and significantly improved its adjusted EBITDA by 207% to $27.1 million.
Key performance highlights include a substantial increase in Aerospace sales by $35.5 million and Test Systems sales by $5.3 million. The company also experienced a strong adjusted operating margin in the Aerospace segment at 14.2%. Additionally, Astronics revised its 2024 revenue guidance to a range of $777 million to $797 million.
Looking ahead, Astronics remains committed to its operational goals and anticipates continued growth. The company expects fourth-quarter sales between $190 million and $210 million and is optimistic about sustaining its profitability improvements and growth momentum into 2025.
