Slide 1: Astronics Corporation Reports 12% Sales Growth for First Quarter 2026
Astronics Corporation • 130 Commerce Way • East Aurora, NY • 14052-2164 FOR IMMEDIATE RELEASE Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 • First quarter sales increased 12.0% to $230.6 million • Achieved first quarter net income of $25.5 million, or $0.67 per diluted share
Slide 2: First Quarter Results
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 2 First Quarter Results Three Months Ended April 4, March 29, ($ in thousands) 2026 2025 % Change Sales $ 230,619 $ 205,936 12.0 % Gross profit $ 75,133 $ 60,849 23.5 % Gross margin 32.6 % 29.5 % Income from oper
Slide 3: First Quarter 2026 Results
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 3 Interest expense was down $0.8 million, or 25.8%, on lower rates following the September 2025 refinancing activities. Tax benefit in the quarter of $0.8 million was related to a $2.7 million discrete adjustment
Slide 4: Test Systems segment operating profit
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 4 Test Systems segment operating profit was $0.4 million, compared with an operating loss of $2.2 million in the first quarter of 2025. Test Systems profitability, while improving, continues to be negatively affe
Slide 5: First Quarter 2026 Webcast and Conference Call
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 5 First Quarter 2026 Webcast and Conference Call The Company will host a teleconference today at 4:45 p.m. ET. During the teleconference, management will review the financial and operating results for the period
Slide 6: Forward-Looking Statements and Non-GAAP Financial Metrics
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 6 regulatory activity and public scrutiny on production rates of a major U.S. aircraft manufacturer, the need for new and advanced test equipment, customer preferences and relationships, the effectiveness of the
Slide 7: Consolidated Statement of Operations Data
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 7 ASTRONICS CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS DATA (Unaudited, $ in thousands except per share amounts) Three Months Ended 4/4/2026 3/29/2025 Sales $ 230,619 $ 205,936 Cost of products sold 155,486
Slide 8: Consolidated Balance Sheets
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 8 ASTRONICS CORPORATION CONSOLIDATED BALANCE SHEETS ($ in thousands) (unaudited) 4/4/2026 12/31/2025 ASSETS Cash and cash equivalents $ 11,867 $ 18,180 Accounts receivable, net of allowance for estimated credit l
Slide 9: Consolidated Cash Flows Data
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 9 ASTRONICS CORPORATION CONSOLIDATED CASH FLOWS DATA Three Months Ended (Unaudited, $ in thousands) 4/4/2026 3/29/2025 Cash flows from operating activities: Net income $ 25,540 $ 9,528 Adjustments to reconcile ne
Slide 10: Segment Sales and Profit
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 10 ASTRONICS CORPORATION SEGMENT SALES AND PROFIT (Unaudited, $ in thousands) Three Months Ended 4/4/2026 3/29/2025 Sales Aerospace $ 213,843 $ 191,388 Less inter-segment (23) (13) Total Aerospace 213,820 191,375
Slide 11: Sales by Market
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 11 Beginning in the current year, the Company reorganized its product line structure to align with changes in internal reporting. Refer to the Supplemental Prior Period Tables within this release for prior-year r
Slide 12: Order and Backlog Trend
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 12 ASTRONICS CORPORATION ORDER AND BACKLOG TREND (Unaudited, $ in thousands) Trailing Q2 2025 Q3 2025 Q4 2025 Q1 2026 Twelve Months 6/28/2025 9/27/2025 12/31/2025 4/4/2026 4/4/2026 Sales Aerospace $ 193,626 $ 192
Slide 13: Reconciliation of Net Income to Adjusted EBITDA
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 13 ASTRONICS CORPORATION RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (Unaudited, $ in thousands) Consolidated Three Months Ended 4/4/2026 3/29/2025 Net income $ 25,540 $ 9,528 Add back (deduct): Interest expe
Slide 14: Reconciliation of Operating Income to Adjusted Operating Income
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 14 ASTRONICS CORPORATION RECONCILIATION OF OPERATING INCOME TO ADJUSTED OPERATING INCOME (Unaudited, $ in thousands) Consolidated Three Months Ended 4/4/2026 3/29/2025 Income from operations $ 27,230 $ 13,137 Add
Slide 15: Reconciliation of Net Income and Diluted EPS
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 15 ASTRONICS CORPORATION RECONCILIATION OF NET INCOME AND DILUTED EARNINGS PER SHARE TO ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE (Unaudited, $ in thousands except per share amounts) Consolidate
Slide 16: Reconciliation of Segment Operating Profit
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 16 ASTRONICS CORPORATION RECONCILIATION OF SEGMENT OPERATING PROFIT (LOSS) TO ADJUSTED SEGMENT OPERATING PROFIT (LOSS) (Unaudited, $ in thousands) Three Months Ended 4/4/2026 3/29/2025 Aerospace operating profit
Slide 17: Supplemental Prior Period Tables
Astronics Corporation Reports 12% Sales Growth for First Quarter 2026 May 12, 2026 Page 17 Supplemental Prior Period Tables The following tables provide a prior-year recast of the disaggregation of sales by product line by quarter for the years ending December 31, 2025 and 2024, to conform with the