Why Astronics Shares Are Trading Higher Today

Astronics ATRO shares are trading higher after the company said unaudited preliminary Q4 sales are expected to be in the range of $155 million to $160 million, exceeding the company's earlier guidance of $140 million to $150 million.

The company expects fourth-quarter preliminary bookings to be in the range of $175 million to $180 million.

Peter J. Gundermann, Chairman, President and CEO, commented, "We continued to see strong order flow in the fourth quarter, as we have since the middle of 2021. We expect to report another positive book-to-bill quarter and another record ending backlog. More importantly, however, we finally saw the beginning of the sales ramp required to satisfy high demand as our supply chain continues to show improvement. We expect the sales ramp to endure as we move into 2023, consistent with our earlier revenue guidance for the year of $640 million to $680 million."

Astronics is a provider of advanced technologies for global aerospace, defense and other mission critical industries.

ATRO Price Action: Astronics has a 52-week high of $14.87 and a 52-week low of $7.46.

Astronics shares are down 41.9% at $14.69 at time of publication, according to Benzinga Pro.