Astronics earnings date
Astronics (AC1) Q3 2026 Earnings Report
DE:AC1 Q3 2026 EPS Results
- Actual EPS
- EUR 0.73
- Consensus EPS
- EUR 0.65
- Beat/Miss
- Beat by +EUR 0.08
- One Year Ago EPS
- EUR 0.35
DE:AC1 Q3 2026 Revenue Results
- Actual Revenue
- EUR 246.45M
- Expected Revenue
- EUR 243.09M
- Beat/Miss
- Beat by +EUR 3.37M
- YoY Revenue Growth
- +28.49%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/10/2026
- Time
- After Close
- Conference Call
- Tuesday, November 10, 2026
Astronics's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive, supported by record third-quarter sales, significant margin expansion, strong aerospace and test-system performance, record aerospace backlog, cash generation, debt reduction, and an outlook for strong double-digit growth in 2027. The main cautions were a wider fourth-quarter revenue range, MV-75 program replanning, supply-chain lead-time and pricing pressure, and several external market risks, but management said these issues were not currently significant enough to alter the overall strong demand picture.
Astronics is maintaining its 2026 revenue guide of $1.02 billion to $1.04 billion, implying growth of 19.5% at the midpoint and fourth quarter revenue of $255 million to $275 million, which at the midpoint would be a small step back from a record third quarter; R&D is expected to normalize in the near future in a range of 4%-5% of sales, full year CapEx is expected to be in the range of $25 million to $30 million, and an additional deferred tax asset valuation allowance release of approximately $35 million to $40 million could be recognized depending on the assessment of objectively verifiable evidence. Test systems expects similar program revenue in the fourth quarter, subject to suppliers keeping up, and continues to expect about 9 million to $10 million per quarter for the U.S. Army 4.55 thousand/T program, which will approximately double that quarterly rate by early 2027. For 2027, the company expects another very strong year, strong double digit growth, or something well north of 10%, with continued strength in its bottom line; MV-75 revenue is expected to be closer to the $35 million mark for 2026 and, for 2027, the best guess is to hold it kind of at that rate, while incremental margin expectations remain around 40%.
- Record Quarterly Revenue and ProfitabilityThird-quarter sales reached a record $272 million, up 28.5% year over year. Operating income doubled to a record $54 million, or 19.9% of sales, while adjusted operating income was $51 million, or 18.8% of sales, reaching the company's stated high-teens operating margin target.
- Strong Adjusted EBITDA and Net Income GrowthAdjusted EBITDA increased more than 81% to $59.3 million, with margin expanding to 21.8% from 15.5% in the prior-year quarter and 19.8% in the trailing second quarter. Adjusted net income nearly doubled to $38.9 million, or $0.81 per diluted share, from $19.4 million, or $0.41 per diluted share.
- Year-to-Date Growth and Margin ExpansionYear-to-date sales were $762 million, up 22% from the prior year. Year-to-date operating margin was 16%, compared with 0.6% last year, and adjusted EBITDA was $149 million, or 19.5% of sales, compared with 14.3% of sales last year. Astronics also cited average annual growth of 18% since 2022.
- Gross Margin ImprovementGross profit increased 46% to $94 million, or 34.6% of sales. Gross margin expanded by 410 basis points due to higher volume, improved productivity, and $1.9 million of tariff refunds recognized during the quarter, which contributed 70 basis points.
- Lower SG&A and Reduced Interest ExpenseSG&A expense declined approximately $5 million year over year to $30.7 million, or 11.3% of sales versus 14.8%. Interest expense decreased approximately $1.1 million, or 37.1%, to $1.8 million, reflecting lower debt balances and reduced interest rates following the September 2025 refinancing.
- Record Aerospace Segment PerformanceAerospace sales reached a record $246 million, up 27.4% year over year, with growth across major markets: commercial transport increased 29%, general aviation increased 52%, and military aircraft increased 5%. Aerospace operating profit rose to $57 million, or 23.4% of sales, while adjusted aerospace operating profit increased 71.5% to a record $55.1 million and adjusted margin reached 22.5%.
- Broad Aerospace Product-Line GrowthIn-flight entertainment and connectivity sales increased 24%, or $25.2 million, to $131 million. Seat motion sales more than doubled by $13.2 million to $24.9 million, including a $400 thousand contribution from BMA. Lighting and safety sales increased 17% to $61.6 million, and in-flight-critical electrical power sales increased 25% to $20.9 million, partly due to the MV-75 FLRAA program.
- Record Aerospace Bookings and BacklogAerospace bookings were $258 million, producing a 1.05 book-to-bill ratio. Aerospace backlog ended the quarter at a record $670 million, up from $657 million at the end of the second quarter.
- Test Systems ImprovementTest systems sales increased 40% year over year to $26.2 million, the highest level since 2019. Operating profit was $3 million, or 14.7% of sales, compared with approximately breakeven in the prior-year quarter and approximately $600 thousand in the second quarter.
- Army Radio Test Program RampThe U.S. Army 4.55 thousand/T radio test program contributed $5.3 million of test-system sales in the quarter. Management expects the program to generate approximately $9 million to $10 million per quarter, with quarterly revenue expected to approximately double by full-rate production in early 2027.
- Strong Test-System Demand on a Trailing BasisAlthough quarterly test-system bookings were $12.8 million and lumpy because of defense-contract purchasing patterns, trailing-12-month bookings totaled $122 million, representing a 1.41 book-to-bill ratio. Test-system backlog ended the quarter at $110 million.
- Strong Consolidated Backlog and BookingsConsolidated bookings were $271 million, representing a 1:1 book-to-bill ratio. Backlog ended the quarter at $780 million, roughly even with the record second-quarter level.
- Margin Improvement Initiatives Continue to Produce ResultsManagement cited higher-volume leverage, repricing of long-term contracts to cover inflation, improved productivity and efficiency, and business simplification or portfolio-shaping initiatives as margin levers. Management said each lever still has room to run.
- Cash Generation and Debt ReductionAstronics generated $25.8 million of cash from operations during the third quarter. Long-term debt decreased $25.5 million from the end of the second quarter to $285 million, declined $49.7 million since year-end, and available liquidity at quarter-end was $278 million.
- Capital Expenditure TimingCapital expenditures were $4.2 million in the quarter and $21.1 million year to date. Full-year capital expenditure expectations were reduced to $25 million to $30 million from $40 million to $45 million because of the timing of planned projects, not a change in investments to support growth.
- 2026 Revenue Guidance MaintainedThe company maintained its 2026 revenue outlook of $1.02 billion to $1.04 billion. At the midpoint, this implies 19.5% growth over 2025, with fourth-quarter revenue expected to be $255 million to $275 million.
- Strong 2027 Growth OutlookManagement said it is nearing completion of its 2027 planning process and expects another year of strong double-digit growth, explicitly described as well north of 10%, with continued strength in the bottom line.
- Multiple Demand Drivers for 2027Management cited increasing aircraft build rates, adoption of higher-level in-flight entertainment and connectivity systems, greater penetration of advanced flight-critical electrical power systems, premium aircraft seating, the Army radio test program, maturing eVTOL activity, potential missile-program opportunities, and follow-on test-system awards as demand drivers.
- Premium Seating and Capacity PositionManagement said airlines are increasingly offering high-end seating options and that seat-motion sales were up approximately 40% so far this year. Astronics said it has capacity to meet current demand and is evaluating ways to increase capacity over the next year and a half.
- Stable Customer ShipmentsAstronics is currently shipping in the high thirties of shipsets per month, believes it is keeping up with demand, and does not believe customers are building inventory. Management said shipments are generally aligned with customer production rates.
- LEO Connectivity OpportunityManagement said there is increasing recognition that low-Earth-orbit connectivity systems offer performance that geo-based systems are hard-pressed to meet. Astronics is pursuing opportunities spanning engineering and certification through related hardware sales and expects more clarity on its market position by year-end.
- Expected Incremental MarginManagement said incremental margin on incremental sales has been trending around 40% and believes that remains a realistic level for 2027 given the identified sales and profit drivers.
DE:AC1 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | 0.66- | 0.54 | ― | ― |
| Nov 10, 2026 | 2026 (Q3) | 0.650.73 | 0.35 | 107.16% (+0.38) | |
| Aug 11, 2026 | 2026 (Q2) | 0.540.64 | 0.03 | 2087.50% (+0.61) | |
| May 12, 2026 | 2026 (Q1) | 0.410.43 | 0.19 | 127.54% (+0.24) | |
| Feb 24, 2026 | 2025 (Q4) | 0.430.54 | -0.06 | 1034.38% (+0.60) | |
| Nov 04, 2025 | 2025 (Q3) | 0.300.35 | -0.25 | 244.28% (+0.60) | |
| Aug 06, 2025 | 2025 (Q2) | 0.240.03 | 0.03 | 0.00% (+0.00) | |
| May 06, 2025 | 2025 (Q1) | 0.230.19 | -0.07 | 387.50% (+0.25) | |
| Mar 04, 2025 | 2024 (Q4) | 0.19-0.06 | 0.15 | -140.00% (-0.20) | |
| Nov 06, 2024 | 2024 (Q3) | 0.13-0.25 | -0.37 | 33.42% (+0.12) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
