Ducommun reports Q4 adjusted EPS 70c, consensus 62c

Reports Q4 revenue $192.2M, consensus $195.65M. “I am very happy to report that the company reached an all time revenue record in 2023 with the previous high-level mark set in 2012. Q4 numbers were also very good as we continue the top-line growth story for Ducommun, led once again by a strong commercial aerospace market recovery,” said CEO Stephen Oswald. “Quarterly revenue exceeded $190M for the second consecutive quarter and increased to approximately $192M, driving record full year revenue of $757M…Ducommun also ended the year with a solid backlog of approximately $994M, with military and space backlog being a bright spot, up $70M to $527M from 2022. Looking ahead to 2024, the record order bookings and the anticipated growth in production rates at both Boeing and Airbus should provide continued tailwind to our commercial aerospace business. The significant growth in backlog in our military and space business and our continued success with off-loading initiatives should be a catalyst for growth in our defense business. The company had a record year in 2023 and 2024 is shaping up to be another strong year as Ducommun also celebrates its 175th continuous year in business since being founded in 1849.”