Wed, Mar 5, 9:27 PM (51 days ago)
**Astronics Corporation (ATRO) Summary** For the fiscal year ended December 31, 2024, Astronics Corporation reported revenues of $795.4 million, a 15.4% increase from $689.2 million in 2023. The Aerospace segment drove growth, with sales rising 16.8% to $706.7 million, while the Test Systems segment increased by 5.2% to $88.7 million. The net loss narrowed to $16.2 million ($0.46 per share) from a loss of $26.4 million in 2023. Operating expenses increased due to higher wages and litigation costs, but gross margin improved to 21.2% from 17.5%. As of year-end, total debt was approximately $175 million, with a backlog of $599.2 million, signaling strong future demand. Strategically, the company focuses on enhancing its technology through internal development and acquisitions. Risks include dependency on Boeing, supply chain disruptions, and the impact of geopolitical events. The company refinanced its credit facilities, increasing the ABL Revolving Credit Facility to $220 million, with a new term loan of $55 million. The outlook remains cautious due to economic uncertainties, yet operational improvements and a robust backlog position Astronics favorably for future growth.