ASTRONICS CORPORATION Reports Record Earnings for Q2 FY2023
August 19, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2023, ASTRONICS CORPORATION ($NASDAQ:ATRO) reported a total revenue of USD 174.4 million, representing an increase of 35.1% compared to the same period during fiscal year 2022. However, net income decreased slightly from a loss of USD -11.0 million in the prior year to USD -12.0 million.
Price History
On Thursday, ASTRONICS CORPORATION released their financial reports for the second quarter of FY2023, showing record earnings. The company’s stock opened at $20.8 and closed at $21.1, up 0.3% from its last closing price of $21.1. The company attributed their success to a number of strategic investments they made in the past year in order to improve their products and services. This included research and development initiatives, as well as improved customer service and support.
They also implemented a new pricing model which allowed them to increase their profit margins. Overall, ASTRONICS CORPORATION has seen great success in the past quarter, and investors have confidence in their future prospects. As the company continues to innovate and expand its reach, the company expects to further strengthen its performance in the upcoming quarters. 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
At GoodWhale, we have conducted an analysis of ASTRONICS CORPORATION‘s wellbeing. Our Risk Rating has concluded that ASTRONICS CORPORATION is a medium risk investment in terms of financial and business aspects. We have also detected two risk warnings in their income sheet and balance sheet. If you want to see what the warnings are, please register with us and we will give you full access to our analysis. We are confident that our risk assessment report will help you make the most informed decision when evaluating the company. 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 reported strong revenue growth of 35.1% year-over-year in Q2 of FY2023, ending June 30 2023. Despite this impressive increase in sales, net income decreased slightly from the previous year’s -11.0 million to -12.0 million. This may reflect the potential margin pressures that the company is experiencing due to increased competition and costs.
For investors, this could be a sign to watch the company closely as they compete in the competitive market. Overall, ASTRONICS CORPORATION remains a stock worth considering for those looking for potential growth opportunities.
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