Astronics Corporation reported substantially stronger results for the quarter and six months ended July 4, 2026. Six‑month sales rose to $490.6 million from $410.6 million, with net income up to $60.6 million from $10.8 million as gross margin improved to 33.0% from 27.7%. Diluted EPS increased to $1.31 from $0.25. Aerospace drove growth, with six‑month sales of $451.1 million and operating margin of 18.5%, helped by strong commercial transport and general aviation demand, improved efficiencies, lower litigation costs, absence of prior‑year restructuring charges, and a $2.0 million tariff refund. Test Systems returned to profitability, generating $39.5 million of sales and a modest operating profit versus a prior‑year loss.
Backlog reached $780.6 million, supported by a book‑to‑bill ratio above 1, and operating cash flow improved to $40.7 million. The company ended the quarter with $9.0 million in cash and $310.3 million of long‑term debt, including $258.0 million of convertible notes, and remained in compliance with all covenants while continuing to carry litigation reserves related to patent disputes.
Capital International Investors filed as a significant shareholder of Astronics Corp. (common stock). The firm is deemed the beneficial owner of 264,925 shares, representing 5.8% of Astronics’ common stock, based on 4,572,336 shares believed to be outstanding. Capital International Investors reports sole voting power and sole dispositive power over all 264,925 shares, with no shared voting or dispositive authority. The filing notes that these shares are held on behalf of clients of various Capital Group investment management entities, including SMALLCAP World Fund, Inc., which may have the right to receive dividends or proceeds from the sale of the securities.
Astronics Corporation reported a very strong second quarter of 2026, with sales up 27.0% to $260.0 million and record operating income of $40.5 million, a 15.6% margin. Net income jumped to $35.1 million or $0.75 per diluted share, compared with $1.3 million or $0.03 a year earlier. Adjusted EBITDA reached $51.5 million, a margin of 19.8%.
The Aerospace segment drove results with record sales of $237.3 million, up 22.6%, and a 20.3% operating margin; General Aviation and Seat Motion posted especially strong growth. Test Systems sales more than doubled to $22.7 million, returning to a modest operating profit despite mix and under-absorption headwinds and some revenue recognized at no margin.
Bookings were a quarterly record at $306.2 million, producing a 1.18 book-to-bill and lifting total backlog to a record $780.6 million, with Aerospace backlog at $657.2 million. Year-to-date cash from operations was $40.7 million, long-term debt declined to $310.3 million, and available liquidity was $253.2 million. Management raised its 2026 revenue outlook to $1.02 billion–$1.04 billion and targets another quarterly sales record in the third quarter.
State Street Corporation and its affiliate SSGA Funds Management, Inc. report beneficial ownership of Astronics Corp common stock. They collectively beneficially own 14,821 shares, representing 0.1% of the outstanding common stock class, which is below the 5% large‑holder threshold.
The reporting persons have no sole voting or dispositive power over Astronics shares. They report shared voting power over 10,870 shares and shared dispositive power over 14,821 shares. The ownership is held through various State Street investment and advisory subsidiaries, including SSGA Funds Management, Inc., State Street Bank and Trust Company, and several State Street Global Advisors entities. The ownership is characterized as 5 percent or less of the class, with no other person identified as having more than 5 percent-related rights to dividends or sale proceeds.
BlackRock, Inc. filed an amended Schedule 13G reporting its beneficial ownership in Astronics Corp Class B Stock. As of July 31, 2026, BlackRock reported beneficial ownership of 82,314 Class B shares, representing 0.8% of the class. BlackRock reported 82,205 shares with sole voting power and 82,314 shares with sole dispositive power, with no shared voting or dispositive power. The filing notes that various persons have rights to dividends or sale proceeds related to these securities, but no single person has an interest exceeding five percent of Astronics’ total outstanding common shares.
Dimensional Fund Advisors LP reported beneficial ownership of 345,139 shares of Astronics Corp common stock, representing 7.5% of the class, in a report dated 06/30/2026. Dimensional has sole voting power over 336,366 shares and sole dispositive power over 345,139 shares, with no shared voting or dispositive power.
The shares are held by investment funds and accounts advised or sub-advised by Dimensional. Dimensional may be deemed a beneficial owner for Section 13(d) purposes but disclaims beneficial ownership, noting that each underlying fund’s interest is below 5% of the class and that the funds retain rights to dividends and sale proceeds.
SSGA Funds Management and State Street reported beneficial ownership of Astronics Corp common stock under Schedule 13G. State Street Corporation reported 475,871 shares representing 10.4% of the class and SSGA Funds Management, Inc. reported 339,640 shares representing 7.4%. The filing lists shared voting and dispositive power amounts and identifies related State Street advisory entities.
Astronics Corp — passive 13G filing by BlackRock, Inc. BlackRock reports beneficial ownership of 481,097 shares of Astronics Corp Class B stock as of 06/30/2026, representing 12.6% of that class. The filing discloses sole voting power for 471,410 shares and sole dispositive power for 481,097 shares.
The schedule notes the holdings reflect certain Reporting Business Units of BlackRock and that various persons hold dividend or sale rights; no other person is identified with >5% ownership. The filing is signed by a BlackRock Managing Director on 07/08/2026.
Astronics Corp executive Mark Peabody reported updated equity holdings, mainly reflecting a new Class B stock distribution and performance-based awards. The filing shows he now directly holds 62,382.73 shares of common stock and 232,610 shares of Class B stock as of June 15, 2026.
The Class B position increased by 49,165 shares issued through a one-for-five distribution of Class B stock to holders of both common and Class B stock on the June 15, 2026 record date. Peabody also holds multiple restricted stock unit and option awards tied to Astronics’ common and Class B stock, several of which vest based on average annual adjusted EBITDA performance for 2024–2026, 2025–2027, and 2026–2028, with potential vesting between 50% and 150% of target on specified dates in 2027, 2028, and 2029.
Astronics Corp director Neil Y. Kim reported internal equity adjustments rather than market trades. The filing shows a one-for-five distribution of Class B stock, issuing 8,811 Class B shares to him. Related option positions on Class B stock totaling 1,840 underlying shares were also adjusted, while he continues to hold 44,056 common shares and existing options on common stock.