Astronics Stock Price, News & Analysis

Astronics Corporation (NASDAQ: ATRO) announced that its subsidiary, PECO Inc., has been chosen by Raytheon Missiles & Defense to manufacture handgrip subassemblies for the upcoming lightweight command launch unit (CLU) for the Javelin missile.

This partnership highlights Astronics' long-standing collaboration with Raytheon and showcases the company’s expertise in advanced manufacturing processes.

The Javelin CLU will leverage new materials and enhanced manufacturing technologies, with production based in Clackamas, Oregon.

Astronics Corporation (ATRO) reported its financial results for Q4 and FY 2020, highlighting a challenging year due to the pandemic. Q4 revenue was $114.8 million, down 42.1% YoY, but up 7.8% sequentially. The company suffered a net loss of $20 million in Q4, leading to a total annual loss of $115.8 million. Bookings improved sequentially, with a book-to-bill ratio of 1.01:1, and backlog stands at $283.4 million. The firm remains optimistic about recovery in air travel demand driven by COVID-19 vaccines and better market conditions in 2021.

Astronics Corporation (Nasdaq: ATRO) has secured contracts with Boeing to provide CorePower® aircraft power distribution units and custom lighting for the MQ-25 unmanned aerial refueling program. The CorePower system offers enhanced reliability and reduced weight compared to traditional systems, essential for unmanned aircraft. These advancements support Boeing's efforts in the U.S. Navy's operational capability. CEO Pete Gundermann emphasized the importance of this technology for successful mission operations.

Astronics Corporation (Nasdaq: ATRO) is set to announce its fourth quarter and full year 2020 financial results on February 23, 2021, prior to market opening. The company will hold a conference call at 11:00 a.m. ET to review the results and discuss corporate strategies and future outlook. Investors can access the call via phone or webcast, and a replay will be available until March 2, 2021. Astronics specializes in innovative technology solutions for the aerospace and defense sectors, focusing on integrating power, connectivity, and other technologies to address complex challenges.

Astronics Corporation (NASDAQ: ATRO) has secured an $11 million order from Collins Aerospace for business jet connectivity equipment. This order follows previous contracts for inflight connectivity hardware, showcasing Astronics' commitment to enhancing connectivity solutions in the aerospace sector. Collins Aerospace's high-speed connectivity system has received positive customer feedback, supporting various remote services and entertainment options. Astronics aims to deliver best-in-class products to meet the increasing demand in the business jet market.

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.