PARK AEROSPACE Reports Earning Results For Q1 FY2024
July 8, 2023
🌥️Earnings Overview
On July 6 2023, PARK AEROSPACE ($NYSE:PKE) reported financials for the quarter ending on May 31 2023, which was the first quarter of FY2024. Total revenue grew 21.7% year-over-year, reaching USD 15.6 million, however net income dropped 3.1% to USD 1.8 million.
Share Price
On Thursday, PARK AEROSPACE reported its earning results for Q1 FY2024. The results showed that the company’s stock opened at $14.7 and closed at $14.2, up by 0.9% from the prior closing price of 14.0. This was an encouraging result for investors, especially after a turbulent year in the markets. The company attributes its strong earning results to an increase in demand for its products and services due to the ongoing expansion of commercial air travel.
This trend is expected to continue as more airlines purchase planes and upgrade existing fleets. With the demand for their products and services expected to remain strong, PARK AEROSPACE is well positioned to continue to deliver solid results going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Park Aerospace. More…
| Total Revenues | Net Income | Net Margin |
| 56.82 | 10.68 | 18.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Park Aerospace. More…
| Operations | Investing | Financing |
| 6.49 | -7.02 | -8.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Park Aerospace. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 137.44 | 22.95 | 5.72 |
Key Ratios Snapshot
Some of the financial key ratios for Park Aerospace are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.3% | -0.6% | 17.1% |
| FCF Margin | ROE | ROA |
| 9.6% | 5.2% | 4.4% |
Analysis
At GoodWhale, we recently conducted an analysis of PARK AEROSPACE‘s wellbeing. Our findings indicate that PARK AEROSPACE is a medium risk investment in terms of financial and business aspects, according to our Risk Rating system. Specifically, our system identified two risk warnings in their income sheet and balance sheet. If you are interested in learning more about these risks, please register with us and we’ll be happy to provide further information. More…
Peers
The company’s products are used on a variety of aircraft, including commercial, military, and business jets. Park Aerospace Corp is a publicly traded company on the New York Stock Exchange (NYSE:PKE) and is headquartered in Wichita, Kansas. The company was founded in 1947 and has approximately 5,000 employees.
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Summary
PARK AEROSPACE recently reported its first quarter earnings results for FY2024 ending May 31 2023, showing total revenue of USD 15.6 million, a 21.7% increase from the prior year. Net income, however, decreased 3.1% to USD 1.8 million. Analysts view this earning report as a mixed bag, with the increased revenues being offset by the lower net income. Thus, investors should do their own research and carefully assess the company’s prospects before investing in PARK AEROSPACE.
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