ASTRONICS CORPORATION Reports Q2 FY2023 Earnings Results on August 3 2023
August 12, 2023
🌥️Earnings Overview
For the second quarter of FY2023, ending June 30 2023, ASTRONICS CORPORATION ($NASDAQ:ATRO) reported total revenue of USD 174.4 million, a year-over-year increase of 35.1%. Unfortunately, net income decreased from -11.0 million in the same period last year to -12.0 million this quarter.
Price History
On August 3rd 2023, ASTRONICS CORPORATION reported its Q2 FY2023 earnings results. The stock opened at $20.8 and closed at $21.1, representing a slight 0.3% increase from the prior closing price of 21.1. This was welcomed news for investors as the company continues to demonstrate its resilience and strong growth potential. This was attributed to strong sales of their flagship product in the consumer electronics market as well as cost-cutting measures that have been implemented over the past year.
Overall, investors were pleased with ASTRONICS CORPORATION’s Q2 FY2023 earnings results as the company continues to show strong growth potential. The stock was up 0.3% by the end of the day and is expected to continue to rise in the coming weeks and months ahead. 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
After conducting an analysis of ASTRONICS CORPORATION‘s wellbeing, we present our findings. According to the Star Chart, ASTRONICS CORPORATION is strong in market capitalization, medium in asset, profitability and weak in dividend, growth. Furthermore, ASTRONICS CORPORATION has an intermediate health score of 6/10 with regard to its cashflows and debt, which suggests that it is likely to sustain future operations in times of crisis. Additionally, ASTRONICS CORPORATION is classified as ‘rhino’ type of company, one which has achieved moderate revenue or earnings growth. Investors looking to invest in ASTRONICS CORPORATION may be interested in its ability to consistently generate revenue and earnings growth in a moderate fashion. Those looking for a dividend could potentially be disappointed given the weak score in this area. Other investors may be interested in ASTRONICS CORPORATION’s strong market capitalization and resilience to potential economic downturns. All investors should thoroughly assess ASTRONICS CORPORATION before making any decisions. 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
ASTRONICS CORPORATION recently released its second quarter FY2023 earnings report on August 3 2023. Investors were likely encouraged by the revenue growth and may be wary of the decrease in net income. It is important to further analyze ASTRONICS CORPORATION’s near-term growth potential, competitive positioning, and financial ratios before investing.
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