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Ducommun Incorporated (NYSE: DCO) is a prominent global provider of manufacturing and engineering services, delivering innovative electronic, engineered, and structural solutions for complex applications in the aerospace, defense, industrial, natural resources, and medical markets. Founded in 1849, Ducommun has a rich history as the oldest continuously operating company in California.
The company operates through two key segments: Structural Systems and Electronic Systems. The Structural Systems segment is involved in designing, engineering, and manufacturing complex aerostructure components and assemblies, including composite and metal bonded structures. These components are critical for various commercial and military aerospace platforms, ensuring high performance and reliability.
The Electronic Systems segment focuses on creating high-reliability electronic and electromechanical products. These products are utilized in technology-driven markets worldwide, including aerospace, defense, and industrial applications. The segment generates the majority of Ducommun's revenue, showcasing its crucial role in the company’s overall performance.
Ducommun is known for its full-service collaborative approach, offering value-added services such as prototyping, new product introduction, supply chain strategies, and program management. These services help create value for customers by providing innovative solutions to their complex electronic and structural needs.
In recent years, Ducommun has achieved significant milestones, including a year-over-year increase in market capitalization from $605M in 2022 to $760M in 2023. The company also set a new revenue record of $757M in 2023. Our partnerships with major firms like Raytheon underscore our commitment to delivering top-quality products and services. Ducommun’s backlog has surpassed $1B, reflecting robust future demand and strong shareholder benefits.
The company is focused on its Vision 2027 Strategy, which aims to achieve $950M to $1B in net revenues by 2027, with adjusted EBITDA margins of approximately 18%. This strategy includes consolidating facility footprints, targeting acquisitions, increasing engineered product revenue, and expanding content on key aerospace platforms.
Ducommun emphasizes continuous innovation and operational excellence to meet the evolving needs of its customers. By leveraging its broad capabilities and collaborative approach, the company is well-positioned to sustain growth and deliver substantial value to its shareholders.
Ducommun Incorporated (NYSE: DCO), a leading manufacturer in aerospace, defense, and industrial markets, has announced its participation in the upcoming RBC Capital Markets Global Industrials Conference on September 24, 2024. The company's chairman, president, and CEO, Stephen G. Oswald, will represent Ducommun at the event.
Institutional investors are encouraged to contact RBC Capital Markets to schedule one-on-one meetings with Ducommun's management. Founded in 1849, Ducommun specializes in Electronic Systems and Structural Systems, producing complex products for commercial aircraft, military and space programs, and industrial applications.
For further information, interested parties can visit the company's website at www.ducommun.com or contact Suman Mookerji, Senior Vice President & Chief Financial Officer, at 657.335.3665.
Ducommun Incorporated (NYSE: DCO) has announced its participation in the 30th Annual Gabelli Aerospace & Defense Symposium on September 5, 2024. The company's senior vice president and CFO, Suman Mookerji, along with Christian Prezgay, senior director of financial planning and analysis and investor relations, will be representing Ducommun at the event.
The symposium will feature a general presentation by Ducommun at 11:00 a.m. Eastern, followed by one-on-one investor meetings throughout the day. The presentation will be accessible live via Zoom, with registration available through a provided link. Institutional investors are encouraged to contact Gabelli to arrange meetings with Ducommun's management.
Ducommun, founded in 1849, specializes in Electronic Systems and Structural Systems, delivering innovative products and manufacturing solutions to aerospace, defense, and industrial markets.
Ducommun Incorporated (NYSE: DCO) has announced its participation in the upcoming Jefferies Industrials Conference on September 4, 2024. The company's senior vice president and CFO, Suman Mookerji, along with Christian Prezgay, senior director of financial planning and analysis and investor relations, will represent Ducommun at the event.
A general presentation is scheduled for 1:20 p.m. Eastern, with one-on-one investor meetings throughout the day. The presentation will be webcast live and accessible via a provided link, with a replay available on Ducommun's website. Additional information and presentation materials will be posted on www.ducommun.com when available.
Ducommun, founded in 1849, specializes in Electronic Systems and Structural Systems, delivering innovative products and manufacturing solutions to aerospace, defense, and industrial markets.
Ducommun Incorporated (NYSE: DCO) reported strong Q2 2024 results with record quarterly revenue of $197.0 million, up 5.2% year-over-year. The company achieved significant improvements in profitability, with net income increasing 225% to $7.7 million, or $0.52 per diluted share. Gross margin expanded 460 bps to a record 26.0%, while Adjusted EBITDA grew 15% to $30.0 million, representing 15.2% of revenue.
Key highlights include:
- Commercial aerospace revenue up $9.9 million
- Military and space revenue increased $3.2 million
- Non-GAAP adjusted net income rose 72% to $12.5 million
- Strong performance in both Electronic Systems and Structural Systems segments
The company's Vision 2027 strategy is progressing well, with focus on high-quality products and meeting anticipated higher demand in commercial aerospace.
Ducommun Incorporated (NYSE: DCO) has rejected an unsolicited revised, non-binding offer from Albion River to acquire all outstanding shares at $65.00 per share in cash. The Board unanimously determined this proposal undervalues Ducommun's growth initiatives and doesn't reflect the company's strong performance record.
Ducommun's Board remains focused on its Vision 2027 Strategy, which aims to achieve $950M to $1,000M in net revenues by 2027 (a 33-40% increase since 2022), with 18% adjusted EBITDA margins and 13% adjusted operating income margins. The company has already shown significant growth, with revenue increasing from $551M in 2016 to a record $767M in LTM Q1 2024, and EBITDA margins expanding from 10.1% to 14.4% in the same period.
Ducommun Incorporated (NYSE: DCO) has announced its plans to release the 2024 second quarter financial results on August 8, 2024, before the stock market opens. The company will host a conference call at 10:00 a.m. PT (1:00 p.m. ET) on the same day to review these results.
Key points:
- Chairman, President, and CEO Stephen G. Oswald and CFO Suman Mookerji will lead the call
- The meeting and Q&A session are expected to last about 45 minutes
- Interested parties can pre-register for the call using a provided link
- A live webcast of the event will be available, with a replay accessible on the company's website
Ducommun, founded in 1849, specializes in Electronic Systems and Structural Systems, providing innovative products and manufacturing solutions to aerospace, defense, and industrial markets.
Ducommun Incorporated (NYSE: DCO), a global supplier for the aerospace and defense industry, has received an unsolicited revised non-binding indication of interest from Albion River The proposal aims to acquire all outstanding Ducommun shares for $65.00 per share in cash. Ducommun's Board of Directors will review this offer to determine if it's in the best interest of the company and its shareholders. No immediate action is required from shareholders.
Ducommun, California's oldest continuously operating company, saw its market capitalization increase from $605M in 2022 to $760M in 2023. The company also achieved a new all-time revenue record of $757M in 2023, highlighting its strong performance and growth trajectory.
Ducommun announced a major $12M award from Raytheon Missiles and Defense for the production of the TOW missile system at its Guaymas, Mexico facility. This represents the first order for this legacy program at the new location, moving from Monrovia, California. CEO Stephen G. Oswald highlighted the continuation of the TOW program after a pause due to order timing and emphasized this as a milestone in their Vision 2027 strategy to shift operations to low-cost, high-productivity locations. Ducommun will continue supplying Raytheon with various electronic and structural components for both legacy and emerging programs.
Ducommun Incorporated (NYSE: DCO), a global supplier of electronic and structural solutions for the aerospace & defense industry, has earned the Northrop Grumman Mission Systems Platinum Supplier Designation for providing high-quality micro power supplies for ground-based radar systems. The designation highlights Ducommun's excellence in quality and on-time delivery, further solidifying its relationship with Northrop Grumman and positioning the company for continued success in the defense industry.
Ducommun Incorporated reported record Q1 revenue of $190.8 million, a 5.3% increase from Q1 2023. The net income was $6.8 million, up 70 bps year-over-year. Gross margin grew to 24.6%, a 430 bps increase, and adjusted EBITDA reached $27.4 million, up 170 bps. The Company highlighted strong performance in Commercial Aerospace and progress in their Vision 2027 Plan. Ducommun remains optimistic about achieving its long-term goals.
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