Astronics Q2 revenue beats estimates on aerospace demand

Astronics said second-quarter revenue rose 27%, beating analyst expectations, as demand for aerospace products strengthened.

Adjusted diluted earnings per share for the quarter rose to $0.70 from $0.31 a year ago.

• Aerospace demand - The company said second-quarter sales growth was driven by continued strength in Aerospace, especially Commercial Transport, with increased demand for seat motion and inflight entertainment and connectivity products.
• Test Systems recovery - Test Systems sales rose sharply, helped by the absence of prior-year negative contract revisions and a new U.S. Army radio test set program.
• Margin expansion - Higher volume, improved productivity and a $2 million tariff refund contributed to gross margin improvement.

Key details from the report showed second-quarter sales of $259.96 million versus a consensus estimate of $245.23 million. Net income was $35.06 million, adjusted EBITDA was $51.55 million, adjusted EBITDA margin was 19.80%, gross profit was $86.90 million and operating margin was .