Slide 1: Q2 2026 Earnings Call
Q2 2026 Earnings Call Stephen Oswald – Chairman, President and Chief Executive Officer Suman Mookerji – Senior Vice President, Chief Financial Officer August 6, 2026
Slide 2: Disclosures
Disclosures Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be preceded by, followed by or include the words “believe,” “continue,” “estimate,” “expect,” “may,
Slide 3: VISION 2027
VISION 2027 Revenue Adj. EBITDA Margin $950 - $1,000M 18% On-track to meet VISION 2027 targets 3
Slide 4: Q2 2026 Recap
Q2 2026 Recap Revenue, up 12% y-o-y with double digit growth in Q2 2026 commercial of 16% and military and space growth of 7% Revenue $224M Up 12% Strong bookings of $310M with Q2 book-to-bill ratio of 1.4x y-o-y GAAP OI Adjusted OI* Record Gross margins of 28%, up 160bps y-o-y $28M $27M Up 60% Up 3
Slide 5: Strong Revenue Performance & Growing RPO
Strong Revenue Performance & Growing RPO ($ millions) Revenue Remaining Performance Obligations Bookings1 1.4x 1.3x 12% 28% $1,118 $224 $1,159 $201 $906 $310 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2026 LTM Q2 2026 5 RPO of $1.16 billion and book-to-bill ratio2 of 1.3x for LTM Q2 2026 1 Bookings defined
Slide 6: Reiterating 2026 Full Year Outlook
Reiterating 2026 Full Year Outlook 2026 Revenue Growth Double digit growth in 1H 2026 driven by higher production levels and related revenue to meet ramping delivery Mid to High commitments in 2H 2026 Single Digit Expect 2H 2026 growth to be more muted and ranging between LSD to MSD Reiterating full
Slide 7: Military and Space
160 Military 18% and Space ($ millions) Military Aircraft 150 16% YOY 140 +16% +15% +14% +5% +7% Growth 14% F-35 Blackhawk F-15 Apache 130 $128 $124 $124 12% 120 $118 Missiles & Radar $116 10% 110 8% 100 6% 90 PAC-3 Tomahawk AMRAAM 4% 80 70 2% 60 0% THAAD SM3 SM6 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 • Q2 2
Slide 8: DoW Missile Framework Agreements Catalyst for Defense Growth
DoW Missile Framework Agreements Catalyst for Defense Growth AMRAAM SM3 -IIA SM3 - IB SM6 Tomahawk PAC-3 THAAD Current Annual Estimated ~1,100 ~70 125 55 - 90 ~600 96 Production* Revised Annual Production over 1.5x 2x - 4x 4x 10x 3x 4x Next 7 years* DCO Incumbent Supplier DoW significantly ramping p
Slide 9: Commercial Aerospace
Commercial Aerospace ($ millions) 100 YOY 30% -11% -10% +2% +18% +16% Growth 95 20% $89 10% 90 B737 Family A320 $84 0% 85 $84 -10% 80 $77 $76 -20% 75 -30% 70 -40% A220 B787 65 -50% 60 -60% 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 • Q2 2026 Revenue grew 16% to $89M • Remaining Performance Obligations (RPO) of $
Slide 10: Structural Systems Segment Highlights
Structural Systems Segment Highlights ($ millions) Reported YOY Var Adjusted* YOY Var.* Revenue $93.1 2.1% $93.1 2.1% Operating income $12.8 37.3% $14.6 25.2% 737MAX A220 Operating income margin 13.7% 350 bps 15.7% 290 bps • Higher revenue in large commercial (737MAX, A320, A220), 787 A320 family an
Slide 11: Electronic Systems Segment Highlights
Electronic Systems Segment Highlights ($ millions) Reported YOY Var Adjusted* YOY Var.* Revenue $131.4 19.8% $131.4 19.8% Operating income $25.5 24.5% $25.9 23.6% Tomahawk PAC-3 AMRAAM SM6 Operating income margin 19.4% 70 bps 19.7% 60 bps THAAD SM3 SPY-6 TOW • Higher revenue driven by strong growth
Slide 12: Q2 2026 Earnings Call
Q2 2026 Earnings Call Stephen Oswald - Chairman, President and Chief Executive Officer Suman Mookerji – Senior Vice President, Chief Financial Officer August 6, 2026
Slide 13: Appendix
>) Ducommun Appendix
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures Note Regarding Non-GAAP Financial Information: This presentation contains non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Income, Adjusted Operating Income Margin, and Adjusted Earnings Per Share. The Company believes the
Slide 15: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA ($ millions) Q2 2026 Q2 2025 Var. PY Net Revenues $ 224.5 $ 200.8 $ 23.7 Net Income $ 20.4 $ 12.8 $ 7.6 Interest Expense $ 3.5 $ 3.0 $ 0.5 Income Tax Expense $ 4.4 $ 3.7 $ 0.7 Depreciation $ 4.3 $ 4.0 $ 0.3 Amortization $ 4.3 $ 4.3 $ 0.0 Stock-Based Co
Slide 16: GAAP to Non-GAAP Operating Income Reconciliation
GAAP to Non-GAAP Operating Income Reconciliation ($ millions) Ducommun Structural Electronic Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Net Revenues $ 224.5 $ 200.8 $ 93.1 $ 91.1 $ 131.4 $ 109.7 GAAP Operating Income $ 28.3 $ 17.7 $ 12.8 $ 9.3 $ 25.5 $ 20.5 Restructuring Charges - $ 0.6 - $ 0.5
Slide 17: GAAP to Non-GAAP EPS
GAAP to Non-GAAP EPS Q2 2026 Q2 2025 ($ millions, except EPS) GAAP Net Income $20.4 $12.8 GAAP EPS $1.31 $0.84 Restructuring Charges - 0.6 Gain on sale of property and other assets - (1.7) Amortization of Acquisition Related Assets 2.2 2.2 Compensation Clawback (3.9) - Total Adjustments to GAAP (1.6
Slide 18: Non-GAAP Book-to-Bill Ratio
NON-GAAP BOOK-TO-BILL RATIO ($ thousands) Q2 2026 LTM Q2 Non-GAAP Bookings, net $ 309.7 $1,118 GAAP Net revenues $ 224.5 $865 Non-GAAP book-to-bill ratio 1.4x 1.3x 18
Slide 19: Sources for Missile Production and Growth
Sources for Missile Production and Growth • https://militarnyi.com/en/news/raytheon-doubles-production-of-aim-120-amraam-air-defense-missiles/ • https://defence-industry.eu/rtx-raytheon-secures-long-term-pentagon-frameworks-to-expand-u-s-production-of-critical- missiles-nationwide/ • https://www.rtx
Slide 20: Tariff Exposure
Tariff Exposure Manufacturing Footprint1 Sales by Region2 USA > 96% USA 86% Europe 6% 3 China 3% Mexico < 4% ROW 3% Canada/ Mexico 2% Tariffs are not expected to have a significant impact on 2026 performance 1 Based on 2025 Revenue by manufacturing location 20 2 Based on 2025 Revenue by ship to coun
Slide 21: Explore More
EXPLORE MORE Visit Ducommun.com