ATRO
Astronics Corporation52.19
-0.12-0.23%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
1.86BP/E (TTM)
-Basic EPS (TTM)
-0.09Dividend Yield
0%Recent Filings
10-Q
8-K
Astronics upsizes credit facility
Astronics Corporation secured a $300 million revolving credit facility on October 22, 2025, replacing its prior $220 million asset-based line and extending maturity to 2030. This cash flow-based deal, led by HSBC, boosts borrowing capacity by 36% with an accordion for up to $100 million more, tied to leverage limits. It sharpens financial flexibility for growth in aerospace and defense, yet demands tighter covenants like a 4.50:1 total net debt ratio. Lenders gain security from subsidiary guarantees and assets.
8-K
Astronics issues $225M zero-coupon notes
Astronics Corporation issued $225 million in 0% convertible senior notes due 2031 on September 16, 2025, netting $216.7 million after expenses. The company deployed $189.8 million of proceeds, plus $85 million in ABL borrowings and $11 million cash, to retire $132 million of its 5.5% 2030 notes, slashing interest costs while extending maturity. Capped calls at $83.41 per share curb dilution up to a 90% premium over the $43.90 reference price. Debt swap streamlines the balance sheet.
8-K
Astronics launches notes offering
Astronics announced plans to offer $210 million in convertible senior notes due 2031 in a private placement, with an option for $15 million more, aiming to refinance part of its 5.500% 2030 notes via cash repurchases. Capped calls will hedge dilution up to a 90% premium over the stock's pricing-day VWAP, while a new cash flow revolving credit facility could ease covenants and boost operational flexibility. Hedge activities may sway stock prices. Repurchase terms remain uncertain.
10-Q
Q2 FY2025 results
Astronics posted solid Q2 FY2025 results, with sales climbing 3.3% y/y to $204.7M, fueled by a 9.4% surge in Aerospace to $193.6M from robust commercial transport and military demand, though Test Systems dropped 47.8% to $11.1M after $6.4M in contract revisions. Gross margin slipped to 25.8% from 28.0%, pressured by $5.8M simplification charges in Aerospace for footprint tweaks and portfolio shaping. Operating income fell 37.0% y/y to $4.8M, yet net income held steady at $1.3M or $0.04 diluted EPS, aided by halved interest expense post-refinancing. Cash swelled to $13.5M, free cash flow hit $6.3M (derived), while $159.3M debt includes $165M convertibles due 2030 at 5.5%; ABL revolver offers $197.8M availability with covenants met. Acquired Envoy Aerospace in June for $8.3M (cash/contingent mix) to bolster FAA certification. Patent spats with Lufthansa linger as a drag.
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