Exceeded Sales and EBITDA Estimates
Sales for the second quarter reached $16.381 million, exceeding the estimated range of $15 million to $16 million. Adjusted EBITDA was $3.401 million, coming in at the top of the estimated range of $3 million to $3.4 million.
Significant Increase in GE Aerospace Program Sales
Second quarter sales for GE Aerospace jet engine programs were $7.5 million, higher than the forecasted $6.7 million to $7.2 million.
Approval for C2B Fabric Requalification
Park Aerospace received 90% approval for C2B fabric requalification, allowing production to resume at normal levels, with full approval expected in 9 to 12 months.
Strategic Partnership with ArianeGroup
Entered into a new agreement with ArianeGroup to provide additional C2B fabric manufacturing capacity, supporting increasing demand for missile systems.
Potential for Long-Term Growth with Airbus A320neo
Airbus has a backlog of over 7,000 A320neo family aircraft, with plans to ramp up production to 75 aircraft per month, supported by improvements in engine supply.