Aerospace and defense technology solutions provider Astronics Corporation (NASDAQ: ATRO) will be reporting earnings tomorrow after the bell. Here’s what you need to know.
Astronics beat analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $203.7 million, up 25% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Astronics a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Astronics’s revenue to be flat year on year at $194.9 million, slowing from the 23.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Astronics has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.9% on average.
Looking at Astronics’s peers in the aerospace segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Ducommun delivered year-on-year revenue growth of 2.6%, beating analysts’ expectations by 1.1%, and Rocket Lab reported revenues up 121%, topping estimates by 1.4%. Ducommun traded down 4.4% following the results while Rocket Lab was up 3.3%.
Read our full analysis of Ducommun’s results here and Rocket Lab’s results here.
Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good 2024. An economic soft landing (so far), the start of the Fed's rate cutting campaign, and the election of Donald Trump were positives for the market, and while some of the aerospace stocks have shown solid performance, the group has generally underperformed, with share prices down 4.8% on average over the last month. Astronics is up 9.3% during the same time and is heading into earnings with an average analyst price target of $20.67 (compared to the current share price of $20.01).
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