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Park Aerospace Corp. reports developments tied to its aerospace composite materials business and its NYSE-listed common stock. The company develops and manufactures solution and hot-melt composite materials, including film adhesives and lightning strike protection materials, used in composite structures for jet engines, transport aircraft, military aircraft, unmanned aerial vehicles, business jets, general aviation aircraft and rotary wing aircraft.
Recurring news includes quarterly financial results and conference-call announcements, regular cash dividend declarations, and corporate governance updates. Company releases also reference its sales of aerospace materials to customers in North America, Asia and Europe and its long record of uninterrupted quarterly dividend payments.
Park Aerospace Corp. (NYSE - PKE) announced plans to release its financial results for the first quarter of its 2025 fiscal year, which ended on June 2, 2024. These results will be available after the New York Stock Exchange closes on Tuesday, July 16, 2024. The company will hold a conference call to discuss the results at 5:00 p.m. EDT on the same day.
The Board of Directors of Park Aerospace Corp. (NYSE: PKE) declared a regular quarterly cash dividend of $0.125 per share, payable on August 2, 2024, to shareholders of record as of July 1, 2024.
Park Aerospace has a consistent history of paying regular quarterly dividends for 39 years without interruption, totaling approximately $594 million since 2005.
Park Aerospace develops and manufactures advanced composite materials and offers an array of composite parts and structures primarily for the aerospace industry, including jet engines, military aircraft, and UAVs.
The company’s products include film adhesives, lightning strike protection materials, and specialty ablative materials for rocket motors.
Park Aerospace Corp. (NYSE: PKE) reported its financial results for the fourth quarter and fiscal year ending March 3, 2024. The company recorded net sales of $16.33 million for Q4, a rise from $13.53 million in Q4 2023. Full-year net sales were $56 million, up from $54.05 million in 2023. However, net earnings decreased to $2.67 million for Q4 compared to $4.71 million in the previous year and $7.47 million for the full year down from $10.73 million in 2023. Adjusted EBITDA for Q4 stood at $3.20 million, improving from $2.63 million in Q4 2023. EPS for Q4 was $0.13, down from $0.23 in the previous year. The company faced costs related to activist shareholder defense, investment losses, and recruiting fees.
Park Aerospace Corp. (NYSE: PKE) plans to release its financial results for the fourth quarter and the full fiscal year ending March 3, 2024, on May 30, 2024, after market close. The company will host a conference call to discuss the results at 5:00 p.m. EDT on the same day.
On May 22, 2024, Park Aerospace Corp. (NYSE: PKE) announced that its Newton, Kansas manufacturing facilities sustained structural damage due to a storm on May 19, 2024.
No manufacturing lines or equipment were damaged, but the roofs of all three buildings likely need replacement, and multiple specialty HVAC units were damaged or destroyed. The company is assessing the damage and working with contractors for repairs.
Temporary measures will bring the manufacturing lines back online within weeks, but permanent repairs will take months. The company expects a shift in sales from FY2025 Q1 to FY2025 Q2 but does not anticipate losing business. Further details may be provided during the FY2024 Q4 investor call.
Importantly, no employees or their families were injured.
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