Aerospace and defense technology solutions provider Astronics Corporation (NASDAQ: ATRO) will be announcing earnings results this Tuesday afternoon. Here’s what to look for.
Astronics beat analysts’ revenue expectations last quarter, reporting revenues of $260 million, up 27% year on year. It was an impressive quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year revenue guidance exceeding analysts’ expectations.
Is Astronics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Astronics’s revenue to grow 26.8% year on year, improving from the 3.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Astronics has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Astronics’s peers in the aerospace segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AAR delivered year-on-year revenue growth of 24.1%, beating analysts’ expectations by 3.5%, and ATI reported revenues up 26.5%, topping estimates by 7.9%. AAR traded down 7.2% following the results while ATI’s stock price was unchanged.
Read our full analysis of AAR’s results here and ATI’s results here.
Investors in the aerospace segment have had fairly steady hands going into earnings, with share prices down 1% on average over the last month. Astronics is down 13.5% during the same time and is heading into earnings with an average analyst price target of $98 (compared to the current share price of $54.73).
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