Welcome to our dedicated page for Astronics news (Ticker: ATRO), a resource for investors and traders seeking the latest updates and insights on Astronics stock.
Astronics Corporation (ATRO) supplies advanced technologies and products for aerospace, defense and other mission-critical markets. Its recurring news includes financial results and outlook, Aerospace and Test Systems segment performance, orders and backlog, and demand trends in commercial transport and defense-related markets.
Company updates also cover aircraft power, connectivity, lighting, structures, interiors and test technologies. Recent developments include the EmPower® Qi2 wireless charging module for aircraft cabins, fuel tank access doors for the Boeing 737 MAX program, and the completed Bühler Motor Aviation acquisition, which expanded Astronics' seat actuation and aircraft motion systems portfolio.
Astronics Corporation (Nasdaq: ATRO) has secured a $20 million contract from Xenex Disinfection Services to manufacture LightStrike Germ-Zapping Robots. These robots utilize pulsed xenon UV light to effectively disinfect against SARS-CoV-2 in just two minutes. The partnership aims to increase manufacturing capacity to meet rising demand amid the ongoing COVID-19 pandemic. Both companies have highlighted their long-term collaboration and commitment to delivering advanced disinfection solutions across various industries, beyond just healthcare.
Astronics Corporation (Nasdaq: ATRO) reported challenging Q3 2020 results with revenue of $106.5 million, 40% lower than Q3 2019. The Company faced a net loss of $5.3 million and adjusted EBITDA of -$0.1 million. The pandemic continues to impact commercial aerospace markets, with a significant decline in orders, particularly related to the 737 MAX. However, defense markets remain stable. Astronics expects 2020 total sales to be approximately $500 million with a cash-positive outlook, primarily due to restructuring efforts and reduced costs.
Astronics Corporation (Nasdaq: ATRO) announced a $30 million contract awarded to its subsidiary, Astronics Test Systems (ATS), by Stadler US to develop test systems for railway rolling stock. This contract emphasizes collaboration between Astronics and Stadler, focusing on passenger safety through automated testing of railcar systems. The revenue from this program is expected to benefit Astronics over four years, starting in Q4 2020, as new metro cars are delivered to MARTA in 2024. This contract bolsters Astronics' position in the transit market.
Astronics Corporation (Nasdaq: ATRO) is set to release its third quarter 2020 financial results on Friday, October 30, 2020, before market opening. The company will hold a conference call at 11:00 a.m. ET to discuss its financial and operational outcomes alongside corporate strategies. Stakeholders can participate via phone or webcast. A telephonic replay will be available until November 6, 2020. Astronics specializes in advanced technology solutions for the aerospace, defense, and mission-critical sectors, working closely with clients to tackle complex challenges.