Ducommun Incorporated Reports First Quarter 2026 Results
Rhea-AI Summary
Ducommun (NYSE:DCO) reported record Q1 2026 revenue of $209.0 million, up 9% year-over-year. Gross margin rose to 26.9% (up 70 bps) and net income increased to $9.9 million, or $0.64 per diluted share.
Adjusted net income was $11.7 million ($0.75 per share) and Adjusted EBITDA reached $35.4 million, 16.9% of revenue (up 150 bps). Commercial aerospace revenue grew 18% year-over-year, while military and space revenue also increased. Operating cash flow improved to $11.2 million. Management continues to target its VISION 2027 goal of 18% Adjusted EBITDA margin, while noting potential commercial aerospace destocking headwinds later in 2026.
AI-generated analysis. Not financial advice.
Positive
- Q1 2026 net revenue $209.0M, up 9% year-over-year
- Net income rose to $9.9M, up 607% year-over-year
- Adjusted EBITDA $35.4M, 16.9% margin, up 150 bps
- Commercial aerospace revenue increased 18% year-over-year
- Operating cash flow improved to $11.2M from $0.8M
- Corporate G&A expenses reduced to $17.6M from $22.4M
Negative
- Industrial end-use market revenue declined by $1.4M year-over-year
- Interest expense increased to $4.0M from $3.3M
- Structural Systems operating margin slipped from 11.9% to 11.4%
- Management anticipates commercial aerospace destocking headwinds in remaining 2026 quarters
Key Figures
Market Reality Check
Peers on Argus
DCO was up 2.51% with above-average volume. Among key peers, ATRO appeared in momentum scans, up 2.85%, while others showed mixed moves (e.g., RDW +10.39%, VVX -1.16%, EVEX -1.11%). This points to company-specific drivers around earnings rather than a uniform sector rotation.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 26 | Q4 2025 earnings | Positive | -3.5% | Strong Q4 and record full-year revenue with higher margins and EBITDA. |
| Nov 06 | Q3 2025 earnings | Positive | -3.0% | Revenue and margins up, but GAAP loss from large litigation settlement. |
| Aug 07 | Q2 2025 earnings | Positive | +0.5% | Revenue growth, record gross margin, higher net income and EBITDA. |
| May 06 | Q1 2025 earnings | Positive | +4.0% | Higher revenue, record gross margin, strong net income and EBITDA growth. |
| Feb 27 | Q4 2024 earnings | Positive | -6.4% | Record full-year revenue, rising backlog and improved Q4 margins. |
Earnings releases have generally been fundamentally strong but often saw muted or negative next-day price reactions; the average move across the last five earnings events was -1.67% despite repeated revenue and margin progress.
Over the past five earnings cycles, Ducommun has delivered steady revenue growth and margin expansion. Q4 2024 and full-year results showed record revenue and improving gross margins, followed by strong quarterly updates through 2025 with rising Adjusted EBITDA and growing remaining performance obligations. Even when Q3 2025 included a large litigation-driven net loss, underlying non-GAAP metrics stayed solid. The current Q1 2026 report continues this pattern of double-digit earnings and EBITDA growth within the VISION 2027 framework.
Historical Comparison
Across the last five earnings releases, DCO’s average next-day move was -1.67%. Against that backdrop, a pre-news gain of 2.51% suggested a relatively stronger setup into this Q1 2026 report.
Recent earnings show a steady climb in revenue, margin, and Adjusted EBITDA, supporting Ducommun’s multi-year VISION 2027 financial targets.
Market Pulse Summary
This announcement highlights a record Q1 2026 for Ducommun, with net revenue of $209.0M, gross margin at 26.9%, and Adjusted EBITDA of $35.4M (16.9% of revenue). Results show broad-based growth in commercial aerospace and defense plus improved operating leverage. In parallel, recent filings detailed a material weakness in internal controls related to stock-based compensation timing. Investors may watch future earnings for continued margin progress, cash generation, and timely remediation of control issues under the VISION 2027 plan.
Key Terms
adjusted ebitda financial
non-gaap financial
contract assets financial
operating lease financial
restructuring charges financial
AI-generated analysis. Not financial advice.
New Record for Q1 Revenue, Strong Gross Margins and Net Income
COSTA MESA, Calif., May 12, 2026 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today reported results for its first quarter ended April 4, 2026.
First Quarter 2026 Recap
- Net Revenue was
$209.0 million , an increase of9% over Q1 2025* - Gross margin of
26.9% , year-over-year growth of 70 bps - Net income of
$9.9 million (increase of607% year-over-year) or$0.64 per diluted share, and4.7% of revenue, up 400 bps year-over-year - Non-GAAP adjusted net income of
$11.7 million (increase of232% year-over-year), or$0.75 per diluted share - Adjusted EBITDA of
$35.4 million (increase of19% year-over-year), or16.9% of revenue, up 150 bps year-over-year
“An excellent quarter and strong start to 2026 for Ducommun. Our team continued to make great progress towards our VISION 2027 goals with another record for revenue during the first quarter along with strong gross margin and Adjusted EBITDA margins. Net revenue grew a very healthy
“The Company continues to make solid progress as well with its margin expansion journey started back in 2023 with gross margins expanding 70 bps year-over-year to
“I also look at the Q1 results as a very healthy start to the fourth year of our VISION 2027 plan, especially in commercial aerospace. While we expect to see some destocking headwinds in the remaining quarters of 2026, the outlook is very promising, especially in 2027 and 2028. Ducommun’s strong missile franchise should also continue to gather momentum throughout the year as we are well positioned to benefit from the Department of War's long-term 7 year framework agreements for key missile programs with defense primes including RTX, our largest customer and Lockheed Martin.”
First Quarter Results
Net revenue for the first quarter of 2026 was
$12.5 million higher revenue in the Company’s commercial aerospace end-use markets due to higher rates on large aircraft and rotary-wing aircraft platforms; and$5.4 million higher revenue in the Company’s military and space end-use markets due to higher rates on selected fixed-wing aircraft and missiles platforms, partially offset by lower rates on electronic warfare, ground vehicle weapons, and radar platforms.
In addition, revenue for the Company’s industrial end-use markets for the first quarter of 2026 decreased
Net income for the first quarter of 2026 was
Gross profit for the first quarter of 2026 was
Operating income for the first quarter of 2026 was
Adjusted EBITDA for the first quarter of 2026 was
Interest expense for the first quarter of 2026 was
During the first quarter of 2026, the net cash provided by operations was
* As restated in the Company's Form 10-K/A filed with the Securities and Exchange Commission on May 8, 2026.
Business Segment Information
Electronic Systems
Electronic Systems segment net revenue for the quarter ended April 4, 2026 was
$5.3 million higher revenue within the Company’s military and space end-use markets due to higher rates on selected fixed-wing aircraft and missile platforms, partially offset by lower rates on electronic warfare and radar platforms; and$4.6 million higher revenue in the Company’s commercial aerospace end-use markets due to higher rates on other commercial aerospace and large aircraft platforms.
In addition, revenue for the Company’s industrial end-use markets for the first quarter of 2026 decreased
Electronic Systems segment operating income for the quarter ended April 4, 2026 was
Structural Systems
Structural Systems segment net revenue for the quarter ended April 4, 2026 was
$7.9 million higher revenue within the Company’s commercial aerospace end-use markets due to higher rates on large aircraft and rotary-wing aircraft platforms; and$0.1 million higher revenue within the Company’s military and space end-use markets due to higher rates on selected missile platforms, partially offset by lower rates on selected rotary-wing aircraft platforms.
Structural Systems segment operating income for the quarter ended April 4, 2026 was
Corporate General and Administrative (“CG&A”) Expenses
CG&A expenses for the first quarter of 2026 were
Conference Call
A teleconference hosted by Stephen G. Oswald, the Company’s chairman, president and chief executive officer, and Suman B. Mookerji, the Company’s senior vice president, chief financial officer will be held today, May 12, 2026 at 10:00 a.m. PT (1:00 p.m. ET) to review these financial results. To access the conference call, please pre-register using the following registration link:
https://register-conf.media-server.com/register/BIbeade6204d8e441398e3b1d1ede413a8
Registrants will receive a confirmation with dial-in details. Mr. Oswald and Mr. Mookerji will be speaking on behalf of the Company and anticipate the call (including Q&A) to last approximately 45 minutes. A live webcast of the event can be accessed using the link above. A replay of the webcast will be available on the Ducommun website at Ducommun.com.
Additional information regarding Ducommun's results can be found in the Q1 2026 Earnings Presentation available at Ducommun.com.
About Ducommun Incorporated
Ducommun Incorporated delivers value-added innovative manufacturing solutions to customers in the aerospace, defense and industrial markets. Founded in 1849, the Company specializes in two core areas - Electronic Systems and Structural Systems - to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications. For more information, visit Ducommun.com.
Forward-Looking Statements
This press release and any attachments include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, expectations relating to the Company's VISION 2027 Strategy and its progress towards the financial goals stated therein, potential destocking headwinds related to the Company's commercial aerospace business and outlook for the remaining quarters of 2026 and through 2028, and expectations related to the U.S. Department of War's long-term framework agreements for key missile programs with defense primes. The Company generally uses the words “may,” “will,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “continue” and similar expressions in this press release and any attachments to identify forward-looking statements. The Company bases these forward-looking statements on its current views with respect to future events and financial performance. Actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: the cyclicality of our end-use markets, the level of U.S. government defense spending, our customers may experience changes in production rates or delays in the launch and certification of new products, timing of orders from our customers which are subject to cancellation, modification or rescheduling, our ability to obtain additional financing and service existing debt to fund capital expenditures and meet our working capital needs, legal and regulatory risks, including pending litigation matters generally and as well as any potential losses arising from third party subrogation claims related to the Guaymas performance center fire that may become material, the cost of expansion, consolidation and acquisitions, competition, economic and geopolitical developments – including supply chain issues, our ability to successfully implement restructuring, realignment and cost reduction activities that could adversely impact our ability to achieve our strategic objectives, international trade restrictions and our ability to obtain necessary U.S. government approvals for proposed sales to certain foreign customers, the impact of tariffs and elevated interest rates, risks associated with a prolonged partial or total U.S. federal government shutdown, the ability to attract and retain key personnel and avoid labor disruptions, the ability to adequately protect and enforce intellectual property rights, pandemics, disasters – natural or otherwise, and risk of cybersecurity attacks, and other risks and uncertainties, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause the Company’s results to differ materially from those expressed or suggested in any forward-looking statement. Except as required by law, the Company does not undertake any obligation to update or revise these forward-looking statements to reflect new information or events or circumstances that occur after the date of this news release, May 12, 2026, or to reflect the occurrence of unanticipated events or otherwise. Readers are advised to review the Company’s filings with the Securities and Exchange Commission (which are available from the SEC’s EDGAR database at www.sec.gov).
Note Regarding Non-GAAP Financial Information
This release contains non-GAAP financial measures, including Adjusted EBITDA (which excludes interest expense, income tax expense, depreciation, amortization, stock-based compensation expense, and restructuring charges), including as a percentage of revenue, non-GAAP operating income, including as a percentage of net revenues, non-GAAP net income, and non-GAAP earnings per share. In addition, certain other prior period amounts have been reclassified to conform to current year’s presentation.
The Company believes the presentation of these non-GAAP measures provide important supplemental information to management and investors regarding financial and business trends relating to its financial condition and results of operations. The Company’s management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company’s actual and forecasted operating performance, capital resources and cash flow. The non-GAAP financial information presented herein should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The Company discloses different non-GAAP financial measures in order to provide greater transparency and to help the Company’s investors to more meaningfully evaluate and compare Ducommun’s results to its previously reported results. The non-GAAP financial measures that the Company uses may not be comparable to similarly titled financial measures used by other companies.
CONTACT:
Suman Mookerji, Senior Vice President, Chief Financial Officer, 657.335.3665
[Financial Tables Follow]
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | ||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (Unaudited) | ||||||
| (Dollars in thousands) | ||||||
| April 4, 2026 | December 31, 2025 | |||||
| Assets | ||||||
| Current Assets | ||||||
| Cash and cash equivalents | $ | 39,103 | $ | 45,289 | ||
| Accounts receivable, net | 137,027 | 124,442 | ||||
| Contract assets | 249,229 | 249,845 | ||||
| Inventories | 186,269 | 182,788 | ||||
| Production cost of contracts | 5,914 | 7,178 | ||||
| Other current assets | 16,314 | 16,442 | ||||
| Total Current Assets | 633,856 | 625,984 | ||||
| Property and Equipment, Net | 105,755 | 107,223 | ||||
| Operating Lease Right-of-Use Assets | 37,888 | 40,077 | ||||
| Goodwill | 244,600 | 244,600 | ||||
| Intangibles, Net | 128,656 | 132,839 | ||||
| Deferred income taxes | 14,180 | 15,500 | ||||
| Other Assets | 20,398 | 20,192 | ||||
| Total Assets | $ | 1,185,333 | $ | 1,186,415 | ||
| Liabilities and Shareholders’ Equity | ||||||
| Current Liabilities | ||||||
| Accounts payable | $ | 79,961 | $ | 74,653 | ||
| Contract liabilities | 52,473 | 40,694 | ||||
| Accrued and other liabilities | 28,112 | 51,071 | ||||
| Operating lease liabilities | 7,005 | 7,817 | ||||
| Current portion of long-term debt | 5,000 | 5,000 | ||||
| Total Current Liabilities | 172,551 | 179,235 | ||||
| Long-Term Debt, Less Current Portion | 297,608 | 298,790 | ||||
| Non-Current Operating Lease Liabilities | 33,091 | 34,223 | ||||
| Other Long-Term Liabilities | 12,287 | 12,686 | ||||
| Total Liabilities | 515,537 | 524,934 | ||||
| Commitments and Contingencies | ||||||
| Shareholders’ Equity | ||||||
| Common Stock | 151 | 149 | ||||
| Additional Paid-In Capital | 246,378 | 248,482 | ||||
| Retained Earnings | 416,220 | 406,304 | ||||
| Accumulated Other Comprehensive Income | 7,047 | 6,546 | ||||
| Total Shareholders’ Equity | 669,796 | 661,481 | ||||
| Total Liabilities and Shareholders’ Equity | $ | 1,185,333 | $ | 1,186,415 | ||
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (Unaudited) | ||||||||
| (Dollars in thousands, except per share amounts) | ||||||||
| Three Months Ended | ||||||||
| April 4, 2026 | March 29, 2025 | |||||||
| Net Revenues | $ | 209,022 | $ | 192,481 | ||||
| Cost of Sales | 152,789 | 142,030 | ||||||
| Gross Profit | 56,233 | 50,451 | ||||||
| Selling, General and Administrative Expenses | 40,513 | 45,050 | ||||||
| Restructuring Charges | — | 426 | ||||||
| Operating Income | 15,720 | 4,975 | ||||||
| Interest Expense | (4,010 | ) | (3,263 | ) | ||||
| Income Before Taxes | 11,710 | 1,712 | ||||||
| Income Tax Expense | 1,794 | 310 | ||||||
| Net Income | $ | 9,916 | $ | 1,402 | ||||
| Earnings Per Share | ||||||||
| Basic earnings per share | $ | 0.66 | $ | 0.09 | ||||
| Diluted earnings per share | $ | 0.64 | $ | 0.09 | ||||
| Weighted-Average Number of Common Shares Outstanding | ||||||||
| Basic | 15,044 | 14,856 | ||||||
| Diluted | 15,599 | 15,177 | ||||||
| Gross Profit % | 26.9 | % | 26.2 | % | ||||
| SG&A % | 19.4 | % | 23.4 | % | ||||
| Operating Income % | 7.5 | % | 2.6 | % | ||||
| Net Income % | 4.7 | % | 0.7 | % | ||||
| Effective Tax Rate | 15.3 | % | 18.1 | % | ||||
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | ||||||||
| GAAP TO NON-GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION | ||||||||
| (Unaudited) | ||||||||
| (Dollars in thousands) | ||||||||
| Three Months Ended | ||||||||
| April 4, 2026 | March 29, 2025 | |||||||
| GAAP net income | $ | 9,916 | $ | 1,402 | ||||
| Non-GAAP Adjustments: | ||||||||
| Interest expense | 4,010 | 3,263 | ||||||
| Income tax expense | 1,794 | 310 | ||||||
| Depreciation | 3,943 | 4,277 | ||||||
| Amortization | 4,295 | 4,307 | ||||||
| Stock-based compensation expense(1) | 11,419 | 15,734 | ||||||
| Restructuring charges | — | 426 | ||||||
| Adjusted EBITDA | $ | 35,377 | $ | 29,719 | ||||
| Net income as a % of net revenues | 4.7 | % | 0.7 | % | ||||
| Adjusted EBITDA as a % of net revenues | 16.9 | % | 15.4 | % | ||||
(1) The three months ended April 4, 2026 and March 29, 2025 included
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | |||||||||||||||||
| BUSINESS SEGMENT PERFORMANCE | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||
| Three Months Ended | |||||||||||||||||
| % Change | April 4, 2026 | March 29, 2025 | % of Net Revenues 2026 | % of Net Revenues 2025 | |||||||||||||
| Net Revenues | |||||||||||||||||
| Electronic Systems | 7.8 | % | $ | 117,590 | $ | 109,065 | 56.3 | % | 56.7 | % | |||||||
| Structural Systems | 9.6 | % | 91,432 | 83,416 | 43.7 | % | 43.3 | % | |||||||||
| Total Net Revenues | 8.6 | % | $ | 209,022 | $ | 192,481 | 100.0 | % | 100.0 | % | |||||||
| Segment Operating Income | |||||||||||||||||
| Electronic Systems | $ | 22,924 | $ | 17,450 | 19.5 | % | 16.0 | % | |||||||||
| Structural Systems | 10,438 | 9,919 | 11.4 | % | 11.9 | % | |||||||||||
| 33,362 | 27,369 | ||||||||||||||||
| Corporate General and Administrative Expenses(1) | (17,642 | ) | (22,394 | ) | (8.4) | % | (11.6) | % | |||||||||
| Total Operating Income | $ | 15,720 | $ | 4,975 | 7.5 | % | 2.6 | % | |||||||||
| Adjusted EBITDA | |||||||||||||||||
| Electronic Systems | |||||||||||||||||
| Operating Income | $ | 22,924 | $ | 17,450 | |||||||||||||
| Depreciation and Amortization | 3,584 | 3,566 | |||||||||||||||
| Stock-Based Compensation Expense(2) | 102 | 77 | |||||||||||||||
| Restructuring Charges | — | 90 | |||||||||||||||
| 26,610 | 21,183 | 22.6 | % | 19.4 | % | ||||||||||||
| Structural Systems | |||||||||||||||||
| Operating Income | 10,438 | 9,919 | |||||||||||||||
| Depreciation and Amortization | 4,559 | 4,916 | |||||||||||||||
| Stock-Based Compensation Expense(3) | 82 | 179 | |||||||||||||||
| Restructuring Charges | — | 336 | |||||||||||||||
| 15,079 | 15,350 | 16.5 | % | 18.4 | % | ||||||||||||
| Corporate General and Administrative Expenses(1) | |||||||||||||||||
| Operating loss | (17,642 | ) | (22,394 | ) | |||||||||||||
| Depreciation and Amortization | 95 | 102 | |||||||||||||||
| Stock-Based Compensation Expense(4) | 11,235 | 15,478 | |||||||||||||||
| (6,312 | ) | (6,814 | ) | ||||||||||||||
| Adjusted EBITDA | $ | 35,377 | $ | 29,719 | 16.9 | % | 15.4 | % | |||||||||
| Capital Expenditures | |||||||||||||||||
| Electronic Systems | $ | 886 | $ | 2,265 | |||||||||||||
| Structural Systems | 1,475 | 2,114 | |||||||||||||||
| Corporate Administration | 219 | 13 | |||||||||||||||
| Total Capital Expenditures | $ | 2,580 | $ | 4,392 | |||||||||||||
(1) Includes costs not allocated to either the Electronic Systems or Structural Systems operating segments.
(2) The three months ended April 4, 2026 and March 29, 2025 each included less than
(3) The three months ended April 4, 2026 and March 29, 2025 included less than
(4) The three months ended April 4, 2026 and March 29, 2025 included
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | ||||||||||||||
| GAAP TO NON-GAAP OPERATING INCOME RECONCILIATION | ||||||||||||||
| (Unaudited) | ||||||||||||||
| (Dollars in thousands) | ||||||||||||||
| Three Months Ended | ||||||||||||||
| GAAP To Non-GAAP Operating Income | April 4, 2026 | March 29, 2025 | % of Net Revenues 2026 | % of Net Revenues 2025 | ||||||||||
| GAAP operating income | $ | 15,720 | $ | 4,975 | ||||||||||
| GAAP operating income - Electronic Systems | $ | 22,924 | $ | 17,450 | ||||||||||
| Adjustments to GAAP operating income - Electronic Systems: | ||||||||||||||
| Restructuring charges | — | 90 | ||||||||||||
| Amortization of acquisition-related intangible assets | 373 | 373 | ||||||||||||
| Total adjustments to GAAP operating income - Electronic Systems | 373 | 463 | ||||||||||||
| Non-GAAP adjusted operating income - Electronic Systems | 23,297 | 17,913 | 19.8 | % | 16.4 | % | ||||||||
| GAAP operating income - Structural Systems | 10,438 | 9,919 | ||||||||||||
| Adjustments to GAAP operating income - Structural Systems: | ||||||||||||||
| Restructuring charges | — | 336 | ||||||||||||
| Amortization of acquisition-related intangible assets | 1,859 | 1,859 | ||||||||||||
| Total adjustments to GAAP operating income - Structural Systems | 1,859 | 2,195 | ||||||||||||
| Non-GAAP adjusted operating income - Structural Systems | 12,297 | 12,114 | 13.4 | % | 14.5 | % | ||||||||
| GAAP operating loss - Corporate | (17,642 | ) | (22,394 | ) | ||||||||||
| Adjustments to GAAP Operating Income - Corporate | ||||||||||||||
| Total adjustments to GAAP Operating Income - Corporate | — | — | ||||||||||||
| Non-GAAP adjusted operating loss - Corporate | (17,642 | ) | (22,394 | ) | ||||||||||
| Total non-GAAP adjustments to GAAP operating income | 2,232 | 2,658 | ||||||||||||
| Non-GAAP adjusted operating income | $ | 17,952 | $ | 7,633 | 8.6 | % | 4.0 | % | ||||||
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | ||||||||
| GAAP TO NON-GAAP NET INCOME AND EARNINGS PER SHARE RECONCILIATION | ||||||||
| (Unaudited) | ||||||||
| (Dollars in thousands, except per share amounts) | ||||||||
| Three Months Ended | ||||||||
| GAAP To Non-GAAP Net Income | April 4, 2026 | March 29, 2025 | ||||||
| GAAP net income | $ | 9,916 | $ | 1,402 | ||||
| Adjustments to GAAP net income: | ||||||||
| Restructuring charges | — | 426 | ||||||
| Amortization of acquisition-related intangible assets | 2,232 | 2,232 | ||||||
| Total adjustments to GAAP net income before provision for income taxes | 2,232 | 2,658 | ||||||
| Income tax effect on non-GAAP adjustments (1) | (446 | ) | (532 | ) | ||||
| Non-GAAP adjusted net income | $ | 11,702 | $ | 3,528 | ||||
| Three Months Ended | ||||||||
| GAAP Earnings Per Share To Non-GAAP Earnings Per Share | April 4, 2026 | March 29, 2025 | ||||||
| GAAP diluted (loss) earnings per share (“EPS”) | $ | 0.64 | $ | 0.09 | ||||
| Adjustments to GAAP diluted EPS: | ||||||||
| Restructuring charges | — | 0.03 | ||||||
| Amortization of acquisition-related intangible assets | 0.14 | 0.15 | ||||||
| Total adjustments to GAAP diluted EPS before provision for income taxes | 0.14 | 0.18 | ||||||
| Income tax effect on non-GAAP adjustments (1) | (0.03 | ) | (0.04 | ) | ||||
| Non-GAAP adjusted diluted EPS | $ | 0.75 | $ | 0.23 | ||||
| GAAP weighted-average shares - basic | 15,044 | 14,856 | ||||||
| GAAP weighted-average shares - diluted | 15,599 | 15,177 | ||||||
(1) Effective tax rate of
| DUCOMMUN INCORPORATED AND SUBSIDIARIES | ||||||
| REMAINING PERFORMANCE OBLIGATIONS BY REPORTING SEGMENT | ||||||
| (Unaudited) | ||||||
| (Dollars in thousands) | ||||||
| April 4, 2026 | December 31, 2025 | |||||
| Consolidated Ducommun | ||||||
| Military and space | $ | 678,812 | $ | 692,719 | ||
| Commercial aerospace | 381,912 | 402,174 | ||||
| Industrial | 13,006 | 11,147 | ||||
| Total | $ | 1,073,730 | $ | 1,106,040 | ||
| Electronic Systems | ||||||
| Military and space | $ | 496,316 | $ | 492,244 | ||
| Commercial aerospace | 56,542 | 49,535 | ||||
| Industrial | 13,006 | 11,147 | ||||
| Total | $ | 565,864 | $ | 552,926 | ||
| Structural Systems | ||||||
| Military and space | $ | 182,496 | $ | 200,475 | ||
| Commercial aerospace | 325,370 | 352,639 | ||||
| Total | $ | 507,866 | $ | 553,114 | ||
Under generally accepted accounting principles in the United States Accounting Standards Codification 606, the Company defines performance obligations as customer placed purchase orders (“PO”) with firm fixed price and firm delivery dates. The unrecognized revenue on POs are the remaining performance obligations.
