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EAST AURORA, N.Y. - Astronics Corporation (NASDAQ:ATRO) shares jumped 10.2% in aftermarket trading Tuesday after the aerospace and defense supplier reported fourth quarter earnings and revenue that easily topped analyst estimates, while also providing an optimistic outlook for 2025.
The company posted adjusted earnings per share of $0.48, significantly beating the consensus forecast of $0.26. Revenue rose 6.8% YoY to $208.5 million, also surpassing expectations of $194.9 million.
Astronics’ Aerospace segment was the key driver, with sales increasing 11.7% to $188.5 million on strong demand from commercial transport customers. Test Systems revenue declined 24.7% to $20 million.
"2024 was another year of solid progress ending with a strong fourth quarter," said CEO Peter J. Gundermann. "For the quarter, we achieved near record sales despite Boeing (NYSE:BA)’s 737 production pause. The higher volume and improved operating efficiencies resulted in higher margins, with an adjusted EBITDA margin of 15.1%."
Looking ahead, Astronics maintained its 2025 revenue guidance of $820 million to $860 million, the midpoint of which implies 6% growth over 2024 levels.
The company ended 2024 with a record year-end backlog of $599.2 million, providing visibility into continued growth. Management expects margins to keep improving in 2025 as well.
"We begin the year with a strengthened balance sheet, an improving margin profile, and a record backlog. The signs are strong that 2025 will be a very good year for the Company," Gundermann added.
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