Astronics Stock Price, News & Analysis

Astronics (Nasdaq: ATRO) announced its participation in the upcoming Sidoti Small Cap Virtual Conference on December 4, 2024. The company's leadership team, including Chairman and CEO Peter J. Gundermann, CFO David C. Burney, and Controller Nancy L. Hedges, will deliver a presentation at 1:45 p.m. Eastern Time and host investor meetings.

The presentation will be accessible via live webcast on www.astronics.com, with materials available for viewing. A replay will be provided in the Investors section of the company's website after the event.

Astronics (NASDAQ: ATRO) has announced the pricing of $150 million convertible senior notes due 2030 in a private offering. The notes will bear interest at 5.500% per year, payable semi-annually, and will mature on March 15, 2030. The initial conversion rate is 43.6814 shares per $1,000 principal amount, equivalent to a conversion price of $22.89 per share, representing a 30% premium over the current stock price of $17.61. The company plans to use the proceeds to repay its term loan facility and a portion of its revolving credit facility.

Astronics (NASDAQ: ATRO) has announced plans to offer $150 million in convertible senior notes due 2030 through a private offering to qualified institutional buyers. The company will grant initial purchasers an option for an additional $15 million in notes. The notes will be convertible to cash, common stock, or a combination thereof at Astronics' discretion. The company plans to use the proceeds to repay outstanding borrowings under its term loan facility and partially repay its revolving credit facility, as well as cover offering-related expenses.

Astronics (ATRO) reported strong Q3 2024 results with sales increasing 25% to $203.7 million, the highest quarterly level since Q1 2019. The company's Aerospace segment achieved operating income of $14.3 million with adjusted operating margin of 14.2%. Despite recording a net loss of $11.7 million due to $7.0 million in refinancing costs, adjusted net income was $12.2 million. Adjusted EBITDA grew 207% to $27.1 million. The company generated $8.5 million in cash from operations and maintained a solid backlog of $611.9 million. Based on performance, Astronics revised its 2024 revenue guidance to $777-797 million.

Astronics (Nasdaq: ATRO), a leading supplier of advanced technologies for aerospace, defense, and mission-critical industries, has scheduled its third quarter 2024 financial results announcement. The results will be released after market close on Wednesday, November 6, 2024, followed by a conference call and webcast at 4:45 p.m. Eastern Time. The event will include a Q&A session, and a replay will be available until November 20, 2024. Investors can access the webcast through the company's investor relations website, where a transcript will be posted later.

Astronics (NASDAQ: ATRO) has announced the appointment of Nancy L. Hedges as Vice President and Chief Financial Officer, effective January 4, 2025. Hedges, currently serving as Controller and Principal Accounting Officer, will succeed David C. Burney upon his retirement on January 3, 2025.

Hedges joined Astronics in 2014 and brings extensive experience from her previous roles at Dayco, and PricewaterhouseCoopers LLP. She holds a B.S. in Accounting from Canisius University and serves on its Council on Accountancy.

Chairman, President, and CEO Peter J. Gundermann expressed confidence in Hedges' ability to lead the company's financial strategies and improve performance. Burney, who has been with Astronics for 29 years, including nearly 22 as CFO, was credited for his significant contributions to the company's growth from $33 million in sales in 2003 to nearly $800 million today.

Astronics (Nasdaq: ATRO), a leading supplier of advanced technologies for aerospace, defense, and mission-critical industries, has announced its participation in the Gabelli 30th Annual Aerospace & Defense Symposium. The company's presentation is scheduled for Thursday, September 5, 2024, at 10:30 a.m. Eastern Time.

Key executives Peter J. Gundermann (Chairman, President, and CEO) and David C. Burney (Executive VP and CFO) will represent Astronics at the virtual event. Investors and interested parties can access a live webcast of the presentation and accompanying materials on the company's website at www.astronics.com. A replay will be available in the Investors section after the event.

Astronics (Nasdaq: ATRO), a leading supplier of advanced technologies for aerospace, defense, and mission-critical industries, has announced its participation in the Midwest IDEAS Conference. The event will take place at The Gwen in Chicago on August 28, 2024.

Key points:

• Peter J. Gundermann (Chairman, President, CEO) and David C. Burney (EVP, CFO) will represent Astronics
• Presentation scheduled for 4:50 p.m. Central Time
• Live webcast and presentation materials will be available at www.astronics.com
• Replay of the webcast will be accessible in the Investors section of the company's website

This conference provides an opportunity for Astronics to showcase its latest developments and engage with investors.

Astronics (ATRO) reported 14% sales growth to $198.1 million in Q2 2024. Key highlights include:

- Operating income increased to $7.6 million (3.8% of sales)
- Net income of $1.5 million ($0.04 per diluted share)
- Adjusted EBITDA grew 28% to $20.2 million (10.2% of sales)
- Record backlog of $633.4 million with 1.11x book-to-bill ratio
- Aerospace segment achieved 10th consecutive record backlog of $554.6 million

The company raised its 2024 revenue guidance to $780-$800 million. Q2 results were driven by increased demand, new program wins, and improved operational efficiency. Aerospace segment sales grew 11.7% to $176.9 million, while Test Systems sales increased to $21.2 million.