Astronics Expects Above-Consensus Q2 Revenues

Astronics Corp ATRO reported above-consensus Q2 preliminary revenue results. 

The company expects Q2 revenues to be $170 million-$175 million (consensus: $167.08 million), above the upper end of its guidance range of $165 million-$175 million.

ATRO disclosed Q2 preliminary orders of around $200 million-$205 million.

The order comprises a $9.6 million production order for the Handheld Radio Test Sets (HHRTS) Program for the U.S. Marine Corps (USMC) related to the IDIQ contract worth the $40 million announced in April.

The company expects to report Q2 2023 results on August 3, 2023.

In May, the company reported revenues of $156.5 million, beating the consensus of $144.3 million, and EPS loss of $(0.14) was better than the consensus of $(0.31).

Price Action: ATRO shares are trading higher by 3.02% at $19.11 premarket on the last check Tuesday.