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Astronics Corporation Reports Record Operating Income on 28% Sales Growth for Third Quarter 2026

ATRO
  • Third quarter 2026 sales increased 28.5% to a record $271.7 million
  • Record operating income reached $54.0 million (19.9% of sales) with adjusted operating income of $51.0 million (18.8% of sales)
  • Net income was $52.2 million ($1.08 per diluted share) while adjusted EBITDA hit $59.3 million (21.8% of sales)
  • Aerospace segment sales reached a record $245.5 million with an operating margin of 23.4%
  • Quarterly bookings totaled $271.1 million resulting in a book-to-bill ratio of 1.00 with a backlog of $780.0 million
  • Aerospace bookings of $258.3 million yielded a book-to-bill ratio of 1.05 for five consecutive quarters
  • Test Systems segment sales grew 40.0% to $26.2 million driven by the U.S. Army TS-4549/T Radio Test program
  • Cash generated from operations was $25.8 million
  • Long-term debt decreased $49.7 million to $284.8 million while available liquidity stood at $278.0 million
  • The company maintained 2026 revenue guidance of $1.02 billion to $1.04 billion
  • Fourth quarter 2026 sales are expected to range from $255 million to $275 million
  • Planned capital expenditures for 2026 are estimated between $25 million and $30 million
  • Future IEEPA tariff refunds are estimated to range from $5 million to $6 million
  • A favorable UK patent infringement appeal resulted in a $4.4 million refund of damages and legal fees
  • Sales growth was driven by a 28.8% increase in Commercial Transport markets and a 51.7% rise in General Aviation sales
  • Gross margin expanded 410 basis points to 34.6% due to higher volume, productivity improvements, and tariff refunds
  • Interest expense decreased 37.1% following refinancing activities in September 2025 that reduced debt balances