Aerospace and defense technology solutions provider Astronics Corporation (NASDAQ:ATRO) will be announcing earnings results tomorrow afternoon. Here’s what to look for.
Astronics beat analysts’ revenue expectations by 3.7% last quarter, reporting revenues of $198.1 million, up 13.6% year on year. It was a mixed quarter for the company, with full-year revenue guidance exceeding analysts’ expectations but a miss 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 grow 21.9% year on year to $198.6 million, slowing from the 24% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 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 2.6% on average.
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. Curtiss-Wright delivered year-on-year revenue growth of 10.3%, beating analysts’ expectations by 5.4%, and AAR reported revenues up 20.4%, topping estimates by 2.3%. Curtiss-Wright’s stock price was unchanged after the resultsand AAR’s price followed a similar reaction.
Read our full analysis of Curtiss-Wright’s results here and AAR’s results here.
Investors in the aerospace segment have had steady hands going into earnings, with share prices flat over the last month. Astronics is down 8.2% during the same time and is heading into earnings with an average analyst price target of $24 (compared to the current share price of $18.19).
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