NASDAQ$ATRO
Astronics Corporation · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported fourth quarter and full year financial results, with sales up 36% for the quarter and bookings totaling $182.4 million.
Astronics Corporation reported strong fourth-quarter results with sales exceeding expectations and demonstrating recovery in the commercial aerospace market and progress in supply chain management. The company's sales for the quarter were $158.2 million, a 36% increase year-over-year, and bookings totaled $182.4 million, resulting in a book-to-bill ratio of 1.15. Despite margin pressures from inflation and supply chain issues, the company maintains a positive outlook, expecting a 20% increase in sales for 2023.
- Sales for the quarter reached $158.2 million, a 36% increase compared to the prior-year period.
- Fourth-quarter bookings totaled $182.4 million, resulting in a book-to-bill ratio of 1.15.
- Backlog increased by 37.4% during 2022, reaching a record $571.4 million, with Aerospace backlog at a record $477.7 million.
- Net loss for the quarter was $6.8 million, while adjusted EBITDA stood at $4.3 million.
Headline financials
Revenue & EPS history
Astronics · Revenue · Quarterly
$158M
Revenue by segment
Astronics · $158M total across 2 segments · Q4 2022
- Aerospace$138M—87.5%
- Test Systems$19.8M—12.5%
Forward guidance
Astronics maintains its revenue guidance of $640 million to $680 million for 2023, anticipating a 23% growth for the year. The company expects the first quarter to be the lightest in revenue, with subsequent quarters increasing throughout the year. Success depends on supply chain cooperation, which is slowly improving.
Tailwinds
- Revenue guidance of $640 million to $680 million is maintained for 2023.
- The midpoint of the revenue range represents a 23% growth for the year.
- Encouraged by fourth-quarter revenue performance and record backlog.
- Continued strong demand is benefiting from a recovery in the widebody/long-haul market.
- Supply chain is perceived to be slowly improving, with more predictable supply base.
Headwinds
- First quarter is expected to be the lightest with revenue in the range of $140 million to $150 million.
- Ability to meet forecast for 2023 depends on the cooperation of the supply chain.
- Challenges remain in the supply chain.
- Expecting to see improvement in pricing as well as reduction in certain input costs as the company advances through 2023.
- Margins remained under pressure in the quarter because of inflation and supply chain workarounds.
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 Q4 2022
-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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