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Astronics
Astronics (ATRO) investor relations material
Astronics CJS Securities 26th Annual "New Ideas for the New Year” Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.CJS Securities 26th Annual "New Ideas for the New Year” Investor Conference summary14 Jan, 2026
Company Overview and Market Position
Market cap around $2.3 billion, trading near all-time highs, with 85% institutional ownership.
Operates mainly in aerospace (90%-92% of sales), with 70% exposure to commercial aerospace and 20% to defense/government.
Unrivaled breadth in in-flight entertainment and connectivity hardware, serving 200+ airlines and major OEMs, with ~90% market share in widebody and 65% in narrowbody aircraft.
Diversified customer base includes over 280 airlines and major aerospace manufacturers.
Strong presence in in-seat power, lighting, safety, and flight-critical electrical power, with leadership in aircraft lighting.
Growth Drivers and Financial Outlook
2021-2024 saw 18% average annual growth, with 2023 at 28%; 2026 guidance is for 10%-15% revenue growth.
Revenue recovery is complete, with 2025 preliminary revenue at $924 million and 2026 guidance of $950–$990 million.
Q4 2025 revenue reached a record $236-239 million, reflecting strong tailwinds.
Gross margin improved to 30.5% in Q3 2025, with adjusted EBITDA margin at 15.5% and adjusted diluted EPS at $0.49.
Free cash flow for the first nine months of 2025 was $27.3 million, with $169 million in total liquidity as of November 2025.
Strategic Programs and Diversification
FLRAA program with Bell is a major defense growth driver, with $40 million expected in 2026 and $1 million per aircraft in content.
Recent acquisitions of Envoy Aerospace and Bühler Motor Aviation expand certification services and premium seating motion control capabilities.
Test business expects a significant contract to boost revenue from $70-80 million to $100 million+ in 2026 or 2027.
Emerging opportunities in drones and eVTOL, with multiple development programs and typical shipset content ranging from $50k to $300k.
Commercial off-the-shelf solutions position the company for scalable growth in emerging aviation markets.
FLRAA program acceleration impact on development
Test segment profitability drivers beyond Army contract
Strategic rationale for 2025 capex and debt actions
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Next Astronics earnings date
Q4 20256 Mar, 2026
Astronics
Next Astronics earnings date
Q4 20256 Mar, 2026
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Frequently asked questions
Astronics Corporation is a technology company that designs and manufactures advanced products for the aerospace, defense, and other mission-critical industries. The company's offerings include electrical power systems, lighting systems, avionics components, and test equipment, catering primarily to the needs of commercial aircraft, military, and business jet manufacturers. Astronics focuses on delivering high-reliability solutions that enhance the performance and safety of aircraft and other specialized equipment. In addition to aerospace, the company serves industries such as communications, transportation, and medical devices with its technology solutions. The company is headquartered in East Aurora, New York, and its shares are listed on the NASDAQ.
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