ASTRONICS CORPORATION Reports Positive Financial Results for Second Quarter of FY2023
August 16, 2023
☀️Earnings Overview
ASTRONICS CORPORATION ($NASDAQ:ATRO) reported their financial results for the second quarter of FY2023 on June 30, 2023. Total revenue reached USD 174.4 million, showing a 35.1% year-over-year growth. However, net income was -12.0 million, a slight decline from the prior year’s -11.0 million.
Price History
The company’s stock opened at $20.8 and closed at $21.1, representing a 0.3% increase from the previous closing price of $21.1. The increase in revenue was driven by strong sales of ASTRONICS’ aerospace and defense products, as well as its new lines of commercial and medical products. This boosted ASTRONICS CORPORATION‘s cash reserves, allowing them to increase their dividend payments to shareholders.
The company’s stock price is expected to continue to rise in the coming quarters, particularly as investors take notice of its positive financial performance. With a strong balance sheet and a diversified product portfolio, ASTRONICS CORPORATION is well-positioned to continue posting positive financial results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Astronics Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 620.58 | -38.05 | -6.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Astronics Corporation. More…
| Operations | Investing | Financing |
| -39.13 | -5.48 | 38.26 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Astronics Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 653.59 | 423.19 | 7.08 |
Key Ratios Snapshot
Some of the financial key ratios for Astronics Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.9% | -44.1% | -2.8% |
| FCF Margin | ROE | ROA |
| -7.8% | -4.6% | -1.7% |
Analysis
GoodWhale has conducted an analysis of ASTRONICS CORPORATION‘s wellbeing and our results show that they have an intermediate health score of 6/10 when considering their cashflows and debt. This suggests that the company might be able to sustain future operations in times of crisis. When classifying ASTRONICS CORPORATION we conclude that they are a ‘rhino’ type of company, which is one that has achieved moderate revenue or earnings growth. This means that they are likely to be attractive to certain types of investors, such as those looking for a reliable stock but with the potential for long-term growth. The analysis further revealed that ASTRONICS CORPORATION is strong in terms of assets, but medium in terms of profitability and weak in terms of dividend and growth. Overall, this suggests that the company is in good health, but it may not be the most attractive option for investors seeking quick returns. More…
Peers
Astronics Corporation is a leading provider of advanced technologies for the global aerospace, defense, and semiconductor industries. The company’s products and services include aircraft electrical power generation and distribution systems, aircraft lighting and control systems, electronic control systems, and related products. Astronics has a long history of providing innovative solutions to the most demanding challenges faced by the aerospace and defense industries. The company’s products are used on a wide variety of aircraft, from commercial airliners to military fighters.
Astronics’ primary competitors in the aerospace and defense markets are Raytheon Technologies Corporation, Electro Optic Systems Holdings Ltd, and Rolls-Royce Holdings PLC. These companies are all leaders in the development and production of advanced aerospace and defense technologies. Astronics’ competitive advantage lies in its ability to provide highly specialized products and services that meet the unique needs of its customers. The company has a strong track record of delivering quality products and services on time and on budget.
– Raytheon Technologies Corp ($NYSE:RTX)
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military, and government customers worldwide. The company has a market capitalization of $128.57 billion as of April 2021 and a return on equity of 5.62%. Raytheon Technologies is headquartered in Waltham, Massachusetts and has approximately 147,000 employees. The company operates in four business segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
– Electro Optic Systems Hldgs Ltd ($ASX:EOS)
Electro Optic Systems Holdings Ltd is an Australian aerospace and defence company that designs, manufactures and sells a range of electro optical products and systems. The company has a market cap of 100.17M as of 2022 and a Return on Equity of -21.32%.
The company’s products are used in a range of applications including surveillance, target acquisition, tracking, range-finding and guidance. Electro Optic Systems Holdings Ltd’s products are sold to customers in more than 30 countries around the world.
– Rolls-Royce Holdings PLC ($LSE:RR.)
Rolls-Royce Holdings PLC is a British multinational engineering company incorporated in February 2011 that owns Rolls-Royce, a business aviation and maritime engineering company. Rolls-Royce has a market cap of 6.22B as of 2022 and a Return on Equity of 21.06%. The company is known for its production of engines for aircraft, ships, and power generation. It has a wide range of civil and military clients across more than 150 countries.
Summary
Investors should analyze ASTRONICS CORPORATION with caution, as the company’s total revenue of USD 174.4 million in the second quarter of FY2023 was a 35.1% year-over-year increase, but their net income was negative -12.0 million, a slight decrease from the prior year’s -11.0 million. Although the revenue rose, the company is still failing to generate sufficient profits. Investors should take into consideration that the company may not be a good investment in spite of the revenue growth. Potential investors should conduct further research and utilize due diligence to assess the company’s sustainability and profitability before making any investing decisions.
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