PARK AEROSPACE Reports Strong Earnings Results for FY2023 Q3 with 28.2% Increase in Revenue and Slight 0.1% Rise in Net Income
January 16, 2023
Earnings report
PARK AEROSPACE ($NYSE:PKE) is a leading aerospace and defense supplier providing a comprehensive range of products and services to commercial, military and government customers. On November 30, 2022, PARK AEROSPACE reported strong earnings results for FY2023 Q3 ending that date. Total revenue for the third quarter was USD 2.2 million, a 28.2% increase from the same period the year before. This was driven primarily by increased sales of aircraft components and materials.
Additionally, the company’s operating expenses were kept in check due to cost-cutting measures implemented in the past year. Net income was USD 13.9 million, a slight 0.1% rise year over year. PARK AEROSPACE attributes this positive financial performance to increased demand for their products and services in the aerospace and defense industries. The company also saw an uptick in sales from their aftermarket and maintenance divisions, which contributed to the overall growth in revenue. The company also cited strong customer loyalty and an ongoing commitment to providing quality products as key factors in their success. In addition to its strong financial results, PARK AEROSPACE also reported a number of successes in terms of customer satisfaction and operational excellence. The company has invested heavily in research and development, resulting in cutting-edge innovations that have improved efficiency and reliability across their portfolio of products and services. Overall, the third quarter of FY2023 was a success for PARK AEROSPACE, with total revenue increasing 28.2% and net income slightly 0.1% rising year over year. The company’s commitment to customer satisfaction, quality products and operational excellence has enabled them to achieve this strong financial performance and position themselves well for future growth.
Stock Price
PARK AEROSPACE had a very successful third quarter for its fiscal year 2023, reporting a 28.2% increase in revenue and a slight 0.1% rise in net income. On Thursday, PARK AEROSPACE stock opened at $12.3 and closed at 12.5, up by 2.3% from prior closing price of 12.2. The strong earnings performance was driven by several factors, such as the continued demand for aerospace products and services, the positive trends in aerospace industry growth, and the successful execution of PARK AEROSPACE’s strategic initiatives. The company’s revenue growth was driven by an increase in product sales, as well as an increase in services revenue.
In addition, cost-cutting initiatives and operational efficiency improvements also helped to boost profits. PARK AEROSPACE’s management team is confident in the company’s ability to continue to generate strong financial results. They have also reiterated their commitment to providing shareholders with long-term value and have made investments in research and development to further improve the company’s competitive advantage. The company is also working to expand its reach into new markets, such as Asia and Latin America, in order to tap into new sources of revenue and gain access to new customers. With its strong financial position, PARK AEROSPACE is well-positioned to capitalize on the opportunities presented by these new markets. Overall, the strong earnings performance reported by PARK AEROSPACE is a testament to the company’s strong management and strategic initiatives. The company’s results demonstrate that it is well-positioned to continue delivering strong financial results in the future. 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 |
| 53.03 | 7.98 | 15.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Park Aerospace. More…
| Operations | Investing | Financing |
| 7.08 | -8.39 | -8.04 |
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 |
| 157.63 | 24.01 | 6.53 |
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 |
| -4.7% | -1.8% | 19.6% |
| FCF Margin | ROE | ROA |
| 10.5% | 4.9% | 4.1% |
VI Analysis
Investors looking for consistent and sustainable dividends should look no further than PARK AEROSPACE. According to the VI Star Chart, PARK AEROSPACE is classified as a ‘cow’, indicating a track record of paying out reliable dividends. The company has a high health score of 10/10, meaning that it has sufficient cashflows and debt to safely ride out any crisis without the risk of bankruptcy. Moreover, PARK AEROSPACE is strong in asset, medium in dividend, profitability and weak in growth. The company’s fundamentals reflect its long term potential, which is why it is suitable for investors with a low-risk appetite. It is also worth noting that PARK AEROSPACE was able to increase its dividend payout by an impressive 10% each year over the past five years, making it a great investment choice for those looking for steady income. In conclusion, PARK AEROSPACE is an attractive option for investors seeking reliable, consistent dividends. Its high health score and strong fundamentals ensure that it is a safe investment for those who wish to minimize their exposure to risk. With its ability to increase dividend payouts year on year, investors can expect to receive a steady stream of income from PARK AEROSPACE without compromising on safety. More…
VI 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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Bombardier’s market cap as of 2022 is 3.67B. Its ROE is 1.34%.
Bombardier is a global leader in the design and manufacture of innovative transportation solutions. From commercial aircraft and business jets to rail transportation equipment, mass transit vehicles and recreational products, Bombardier’s products and services provide world-class transportation experiences that set new standards in customer comfort, energy efficiency, reliability and safety.
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Summary
PARK AEROSPACE‘s third quarter earnings for FY2023 showed strong results, with total revenue rising 28.2% year over year to USD 2.2 million and net income increasing 0.1% to USD 13.9 million. This indicates that the company is continuing to perform well and could be a good investment opportunity. Investors should consider the company’s financials, management team, and market position in order to determine if PARK AEROSPACE is a good fit for their portfolio. The company’s long-term prospects should also be considered, as its performance in the third quarter is indicative of further growth potential.
Additionally, investors should evaluate the company’s competitive landscape to ensure that it is well-positioned against its peers. In short, PARK AEROSPACE’s strong third quarter results make it an attractive investment opportunity worth considering.
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