Ducommun Incorporated · NYSE:DCO
Ducommun — Q3 2025 Earnings Presentation
16 slides from Ducommun's earnings presentation, Nov 6, 2025
Slide 1: Q3 2025 Earnings Call
Q3 2025 Earnings Call Stephen Oswald - Chairman, President and Chief Executive Officer Suman Mookerji – Senior Vice President, Chief Financial Officer Nov 6, 2025
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: Q3 2025 Recap
Q3 2025 Recap Record quarterly revenue, up 6% y-o-y with continued Q3 2025 strength in defense Revenue $212.6M Excellent bookings of $338M with a book-to-bill ratio of 1.6x Up 6% y-o-y GAAP OL Adjusted OI* Solid gross margins of 26.6%, up 40 bps y-o-y ($80M) $22M Down 624% Up 6% Litigation settlemen
Slide 5: Positive revenue growth with resilient defense orders
Positive revenue growth with resilient defense orders ($ millions) Revenue Remaining Performance Obligations Bookings1 6% 8% 58% $213 $1,031 $338 $201 $957 $214 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 5 RPO of $1,031 million and book-to-bill ratio2 of 1.6 for Q3 2025 1 Bookings defined as or
Slide 6: Reiterating 2025 Full Year Revenue Outlook
Reiterating 2025 Full Year Revenue Outlook Defense growth maintains momentum with continued strength 2025 Revenue Growth in missiles and radars Commercial aerospace destocking impact expected to persist Mid-Single Digit Growth expected to accelerate through to the end of the year with LDD in Q4 6
Slide 7: Tariff Exposure
Tariff Exposure Manufacturing Footprint1 Sales by Region2 USA > 95% USA 85% Europe 7% ROW 4% Mexico < 5% 3 China <3% Canada/ Mexico 2% Tariffs are not expected to have a significant impact on 2025 performance 1 Based on 2024 Revenue by manufacturing location 7 2 Based on 2024 Revenue by ship to coun
Slide 8: Structural Systems Segment Highlights
Structural Systems Segment Highlights ($ millions) Reported YOY Var Adjusted* YOY Var.* Revenue $89.5 4.0% $89.5 4.0% Operating income $11.9 43.9% $14.3 13.1% 737MAX A220 Operating income 13.3% 370 bps 16.0% 130 bps margin • Higher revenue in military rotorcraft and ground vehicles 787 A320 family o
Slide 9: Electronic Systems Segment Highlights
Electronic Systems Segment Highlights ($ millions) Reported YOY Var Adjusted* YOY Var.* Revenue $123.1 6.6% $123.1 6.6% Operating income $21.1 11.6% $21.5 11.2% Operating income 17.1% 70 bps 17.5% 70 bps margin Defense Primes offloading creating key win opportunities across the Electronic Systems Se
Slide 10: Restructure Update
Restructure Update • During Q3 2025, Management continued to execute on the restructuring plan for Monrovia, CA and Berryville, AR • All production activity at both Monrovia and Berryville has ceased • Ramping up production at receiving facility for transferred product lines • Recorded $0.6M of rest
Slide 11: Q3 2025 Earnings Call
Q3 2025 Earnings Call Stephen Oswald - Chairman, President and Chief Executive Officer Suman Mookerji – Senior Vice President, Chief Financial Officer Nov 6, 2025
Slide 12: Appendix
>) Ducommun Appendix
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Note Regarding Non-GAAP Financial Information: This presentation contains non-GAAP financial measures, including Bookings, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Income, Adjusted Operating Income Margin, and Adjusted Earnings Per Share. The Company be
Slide 14: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA ($ millions) Q3 2025 Q3 2024 Var. PY Net Revenues $ 212.6 $ 201.4 $ 11.1 Net (Loss) Income ($64.4) $ 10.1 ($74.6) Interest Expense $ 2.9 $ 3.8 ($0.9) Income Tax Expense ($18.5) $ 1.3 ($19.8) Depreciation $ 4.0 $ 4.3 ($0.2) Amortization $ 4.3 $ 4.2 $ 0.
Slide 15: GAAP to Non-GAAP Operating Income Reconciliation
GAAP to Non-GAAP Operating Income Reconciliation ($ millions) Ducommun Structural Electronic Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Net Revenues $ 212.6 $ 201.4 $ 89.5 $ 86.0 $ 123.1 $ 115.4 GAAP Operating (Loss) Income ($80.1) $ 15.3 $ 11.9 $ 8.3 $ 21.1 $ 18.9 Inventory Purchase Accounting
Slide 16: EXPLORE MORE
EXPLORE MORE Visit Ducommun.com