Astronics Stock Price, News & Analysis

Astronics Corporation (Nasdaq: ATRO) will release its first quarter 2023 financial results on May 9, 2023, after market close. Following the announcement, the Company will hold a conference call at 4:45 p.m. ET to discuss its financial and operational performance along with corporate strategies and outlook, which will be followed by a Q&A session. An archived replay of the call will be available until May 16, 2023, both via telephone and webcast. Astronics has over 50 years of experience providing technological solutions to the aerospace and defense sectors, focusing on innovative technologies that meet complex challenges. For more information, visit Astronics.com.

Astronics Corporation (Nasdaq: ATRO) has announced a significant contract win through its subsidiary, Astronics Test Systems. The company secured an indefinite delivery/indefinite quantity (IDIQ) award to supply portable radio test equipment for the U.S. Marine Corps' Handheld Radio Test Sets program, valued at approximately $40 million over five years. An initial task order is expected to follow soon. This award highlights Astronics' technological expertise and is expected to drive growth in 2023 and 2024, alongside another anticipated program with the U.S. Army. The portable radio test capability will ensure effective communication systems for military operations.

Astronics Corporation (NASDAQ: ATRO) has unveiled its new reliability test solution for defense microelectronics, named TORCH (Thermally-controlled Operational Reliability Chip Tester). This automated system can simultaneously test up to 384 devices with independent profiles, streamlining the testing process for high-power RF devices like Gallium Nitride. TORCH eliminates the manual validation process, incorporates various test modes, and features an intuitive user interface for easy profile creation. Additionally, a demonstration of TORCH will take place at the GOMACTech Conference in San Diego, CA, from March 21-22, 2023.

Astronics Corporation (Nasdaq: ATRO) reported Q4 2022 sales of $158.2 million, a 36% increase from last year, with full-year sales at $534.9 million, up 20%. The company achieved record backlog of $571.4 million and a book-to-bill ratio of 1.15 in Q4. Despite a net loss of $6.8 million, adjusted EBITDA improved to $4.3 million. The company maintains 2023 revenue guidance of $640 million to $680 million, anticipating a 23% growth. CEO Peter J. Gundermann noted ongoing recovery in the aerospace market while acknowledging supply chain challenges.