NASDAQ$ATRO
Astronics Corporation · Q3 2025 earnings
Q3 2025 earnings · · After market close · Investor relations
Briefing
Astronics reported solid third quarter 2025 financial results with increased sales and improved operating margins.
Astronics Corporation delivered a solid third quarter, with sales increasing by 3.8% to $211.4 million, driven primarily by strong growth in the Aerospace segment. The company reported a net loss of $11.1 million, largely due to $32.6 million in refinancing-related charges, but achieved an adjusted EBITDA of $32.7 million, or 15.5% of sales. Operational progress and profitability initiatives led to significant operating margin expansion.
- Third quarter sales increased 3.8% to $211.4 million, with Aerospace segment sales growing 8.5% to $192.7 million.
- Net loss was $11.1 million, impacted by $32.6 million in refinancing-related charges, while adjusted EBITDA reached $32.7 million.
- Aerospace operating margin improved to 16.2%, and adjusted operating margin expanded to 16.7%.
- Solid quarterly bookings of $210.4 million resulted in a book-to-bill ratio of 1.00:1, with a total backlog of $646.7 million.
Headline financials
Revenue & EPS history
Astronics · Revenue · Quarterly
$211M
Revenue by segment
Astronics · $163M total across 2 segments · Q3 2023
- Aerospace$142M+26.7%87.2%
- Test Systems$20.8M+8.1%12.8%
Forward guidance
Astronics expects a strong finish to 2025, with fourth-quarter sales projected to be between $225 million and $235 million, leading to a record annual sales level for the company. The company anticipates continued strong market conditions and elevated revenue through 2026, with early indications suggesting low double-digit growth for the next year.
Tailwinds
- Fourth quarter revenue expected to be $225 million to $235 million, a significant step up from prior quarters.
- Full-year 2025 revenue expected to be $847 million to $857 million, establishing a new record annual sales level.
- Midpoint of revised 2025 revenue range represents a 7.2% increase over 2024 sales.
- Market conditions are expected to remain strong, with elevated revenue levels continuing through 2026.
- Early outlook for 2026 suggests low double-digit growth.
Headwinds
- Approximately 26% of the current backlog is not expected to be recognized as revenue within the next twelve months.
- Planned capital expenditures for 2025 are substantial, ranging from $40 million to $50 million.
- Tariff expense in the current quarter was approximately $4 million, with potential incremental annual costs of $15 million to $20 million before mitigation.
- Test Systems segment profitability is dependent on the start of the U.S. Army radio test program, which has not yet begun.
- The company is not yet ready to issue formal guidance for 2026, indicating some uncertainty.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
-0.8%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+3.6%
Avg return
30 days after
43%
28 / 65 earnings
Positive
+24.8%
Q4 2024
Best reaction
-23.5%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.5% | +2.9% | — | |
| Q4 2025 | -0.7% | +2.5% | -18.4% | |
| Q3 2025 | -1.3% | -0.3% | +6.6% | |
| Q1 2025 | +16.3% | +24.3% | +42.4% | |
| Q4 2024 | +24.8% | +20.4% | +11.8% | |
| Q3 2024 | -2.4% | -6.6% | -11.5% | |
| Q2 2024 | -12.5% | -20.1% | -2.6% | |
| Q1 2024 | +7.9% | +9.7% | +20.7% | |
| Q4 2023 | -1.0% | -2.4% | -1.7% | |
| Q3 2023 | -11.4% | -8.5% | -6.3% | |
| Q2 2023 | -19.2% | -14.0% | -16.4% | |
| Q1 2023 | +7.2% | +5.3% | +18.4% | |
| Q4 2022 | -3.2% | -4.8% | -12.1% | |
| Q3 2022 | -8.9% | -2.6% | +16.5% | |
| Q2 2022 | -0.2% | +3.6% | -23.3% | |
| Q1 2022 | +3.3% | +5.7% | +9.6% | |
| Q4 2021 | -7.0% | -9.1% | -8.1% | |
| Q3 2021 | -2.1% | -2.8% | -23.5% | |
| Q2 2021 | -14.8% | -12.2% | -17.5% | |
| Q1 2021 | -11.2% | -9.4% | +3.8% | |
| Q4 2020 | +0.3% | -9.8% | -1.5% | |
| Q3 2020 | -3.0% | -2.3% | +77.7% | |
| Q2 2020 | +1.2% | +11.6% | +12.0% | |
| Q1 2020 | +4.4% | +9.1% | +99.9% | |
| Q4 2019 | -13.4% | -11.0% | -58.8% | |
| Q3 2019 | +0.9% | -0.0% | -5.8% | |
| Q2 2019 | -23.5% | -22.6% | -22.7% | |
| Q1 2019 | +20.5% | +19.5% | +29.8% | |
| Q4 2018 | +1.6% | +3.9% | -12.0% | |
| Q3 2018 | -3.0% | -0.6% | +6.6% | |
| Q2 2018 | +9.7% | +10.2% | +10.0% | |
| Q1 2018 | -10.0% | -5.9% | -0.1% | |
| Q4 2017 | -5.4% | -1.8% | -10.5% | |
| Q3 2017 | +5.5% | +7.4% | +23.2% | |
| Q2 2017 | -12.3% | -9.9% | -9.1% | |
| Q1 2017 | -2.0% | -1.4% | -1.5% | |
| Q4 2016 | +1.2% | -0.2% | -10.5% | |
| Q3 2016 | -11.9% | -7.2% | +4.9% | |
| Q2 2016 | +5.1% | +10.0% | +18.0% | |
| Q1 2016 | -7.3% | — | — | |
| Q4 2015 | -9.9% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | -11.7% | — | — | |
| Q1 2015 | -4.4% | — | — | |
| Q4 2014 | +16.5% | — | — | |
| Q3 2014 | +6.4% | — | — | |
| Q2 2014 | +12.7% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | +9.6% | — | — | |
| Q3 2013 | -0.9% | — | — | |
| Q2 2013 | -5.6% | — | — | |
| Q1 2013 | +14.6% | — | — | |
| Q4 2009 | -0.1% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q4 2012 | +6.5% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q2 2012 | +1.1% | — | — | |
| Q1 2012 | -1.9% | — | — | |
| Q3 2011 | -2.6% | — | — | |
| Q3 2010 | -2.6% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q2 2010 | +0.1% | — | — | |
| Q2 2011 | +0.1% | — | — | |
| Q1 2010 | +2.8% | — | — |
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