Astronics Corp Files Q3 2024 10-Q
Ticker: ATROB · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 8063
| Field | Detail |
|---|---|
| Company | Astronics Corp (ATROB) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, aerospace
TL;DR
**Astronics Corp Q3 2024 10-Q filed. Check financials.**
AI Summary
Astronics Corporation filed its 10-Q for the period ending September 28, 2024. The company, based in East Aurora, NY, reported financial results for the third quarter of 2024. Key financial data and operational details for the period are disclosed in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational updates for Astronix Corp, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.
Key Players & Entities
- ASTRONICS CORP (company) — Filer
- EAST AURORA, NY (location) — Business Address
- 20240928 (date) — Period of Report
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240928, indicating the filing covers the period ending September 28, 2024.
What is Astronix Corp's standard industrial classification?
Astronics Corp's Standard Industrial Classification is 'AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]'.
Where is Astronix Corp headquartered?
Astronics Corp's business and mailing address is 130 COMMERCE WAY, EAST AURORA, NY 14052-2191.
When was Astronix Corp incorporated or last changed its name?
The company was formerly known as ASTRONICS LUMINESCENT INC, with a date of name change on 19711209.
What is the SEC file number for Astronix Corp?
The SEC file number for Astronix Corp is 000-07087.
Filing Stats: 4,677 words · 19 min read · ~16 pages · Grade level 18 · Accepted 2024-11-07 15:12:01
Filing Documents
- atro-20240928.htm (10-Q) — 1108KB
- atro20240928-10qxexh311.htm (EX-31.1) — 10KB
- atro20240928-10qxexh312.htm (EX-31.2) — 10KB
- atro20240928-10qxexh32.htm (EX-32) — 6KB
- 0000008063-24-000059.txt ( ) — 6553KB
- atro-20240928.xsd (EX-101.SCH) — 47KB
- atro-20240928_cal.xml (EX-101.CAL) — 61KB
- atro-20240928_def.xml (EX-101.DEF) — 230KB
- atro-20240928_lab.xml (EX-101.LAB) — 596KB
- atro-20240928_pre.xml (EX-101.PRE) — 412KB
- atro-20240928_htm.xml (XML) — 916KB
Financial Statements
Financial Statements: Consolidated Condensed Balance Sheets as of September 28 , 2024 and December 31, 2023 3 Consolidated Condensed Statements of Operations for the Three and Nine Months Ended September 28 , 2024 and September 30 , 2023 4 Consolidated Condensed Statements of Comprehensive Loss for the Three and Nine Months Ended September 28 , 2024 and September 30 , 2023 5 Consolidated Condensed Statements of Cash Flows for the Nine Months Ended September 28 , 2024 and September 30 , 2023 6 Consolidated Condensed Statements of Shareholders' Equity for the Three and Nine Months Ended September 28 , 2024 and September 30 , 2023 7 Notes to Consolidated Condensed Financial Statements 9 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4
Controls and Procedures
Controls and Procedures 30 PART II OTHER INFORMATION Item 1
Legal Proceedings
Legal Proceedings 31 Item 1a
Risk Factors
Risk Factors 31 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3 Defaults Upon Senior Securities 32 Item 4 Mine Safety Disclosures 32 Item 5 Other Information 32 Item 6 Exhibits 32
SIGNATURES
SIGNATURES 33 2 Table of Contents
– Financial Information
Part I – Financial Information
Financial Statements
Item 1. Financial Statements ASTRONICS CORPORATION Consolidated Condensed Balance Sheets September 28, 2024 with Comparative Figures for December 31, 2023 (Unaudited) (In thousands) September 28, 2024 December 31, 2023 Current Assets: Cash and Cash Equivalents $ 5,177 $ 4,756 Restricted Cash 1,187 6,557 Accounts Receivable, Net of Allowance for Estimated Credit Losses 193,494 172,108 Inventories 204,952 191,801 Prepaid Expenses and Other Current Assets 19,371 14,560 Total Current Assets 424,181 389,782 Property, Plant and Equipment, Net of Accumulated Depreciation 81,309 85,436 Operating Right-of-Use Assets 24,849 27,909 Other Assets 7,387 7,035 Intangible Assets, Net of Accumulated Amortization 55,702 65,420 Goodwill 58,169 58,210 Total Assets $ 651,597 $ 633,792 Current Liabilities: Current Maturities of Long-term Debt $ 550 $ 8,996 Accounts Payable 57,058 61,134 Current Operating Lease Liabilities 5,080 5,069 Accrued Expenses and Other Current Liabilities 68,204 46,106 Customer Advance Payments and Deferred Revenue 19,144 22,029 Total Current Liabilities 150,036 143,334 Long-term Debt 178,423 159,237 Long-term Operating Lease Liabilities 21,409 24,376 Other Liabilities 52,525 57,327 Total Liabilities 402,393 384,274 Shareholders' Equity: Common Stock 377 373 Accumulated Other Comprehensive Loss ( 8,456 ) ( 9,426 ) Other Shareholders' Equity 257,283 258,571 Total Shareholders' Equity 249,204 249,518 Total Liabilities and Shareholders' Equity $ 651,597 $ 633,792 See notes to consolidated condensed financial statements. 3 Table of Contents ASTRONICS CORPORATION Consolidated Condensed Statements of Operations Three and Nine Months Ended September 28, 2024 With Comparative Figures for 2023 (Unaudited) (In thousands, except per share data) Nine Months Ended Three Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Sales $ 586,886 $ 493,914 $ 203,698 $ 162,922 Cos