Park Aerospace Corp. Files 10-Q for Period Ending November 26, 2023
Ticker: PKE · Form: 10-Q · Filed: Jan 10, 2024 · CIK: 76267
| Field | Detail |
|---|---|
| Company | Park Aerospace Corp (PKE) |
| Form Type | 10-Q |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Pages | 14 |
| Reading Time | 16 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: 10-Q, Park Aerospace Corp, Financial Report, Quarterly Filing, Aerospace
TL;DR
<b>Park Aerospace Corp. filed its Q3 2023 10-Q, detailing financial activities and corporate events.</b>
AI Summary
PARK AEROSPACE CORP (PKE) filed a Quarterly Report (10-Q) with the SEC on January 10, 2024. Park Aerospace Corp. filed a 10-Q for the period ending November 26, 2023. The filing covers the third quarter of fiscal year 2023. The company's fiscal year ends on February 26th. The company was formerly known as Park Electrochemical Corp. The filing includes data related to stock options and lease agreements.
Why It Matters
For investors and stakeholders tracking PARK AEROSPACE CORP, this filing contains several important signals. This 10-Q provides investors with the latest financial performance and operational updates for Park Aerospace Corp. during the third quarter of fiscal year 2023. Understanding the details within this filing is crucial for assessing the company's current financial health, strategic direction, and potential risks or opportunities.
Risk Assessment
Risk Level: low — PARK AEROSPACE CORP shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or high-risk events.
Analyst Insight
Review the detailed financial statements and segment information within the 10-Q to understand Park Aerospace Corp.'s performance and identify any emerging trends.
Key Numbers
- 2023-11-26 — Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-01-10 — Filing Date (FILED AS OF DATE)
- 0226 — Fiscal Year End (FISCAL YEAR END)
- 19920703 — Date of Name Change (FORMER COMPANY)
Key Players & Entities
- PARK AEROSPACE CORP (company) — FILER
- 0000076267 (company) — CENTRAL INDEX KEY
- NY (company) — STATE OF INCORPORATION
- 111734643 (company) — IRS NUMBER
- PARK ELECTROCHEMICAL CORP (company) — FORMER COMPANY
- 19920703 (dollar_amount) — DATE OF NAME CHANGE
- 20231126 (dollar_amount) — CONFORMED PERIOD OF REPORT
- 20240110 (dollar_amount) — FILED AS OF DATE
Forward-Looking Statements
- Park Aerospace Corp. will continue to see strong sales growth in North America. (Park Aerospace Corp.) — medium confidence, target: 2024-08-28
- The company will maintain its policy of returning capital to shareholders through dividends. (Park Aerospace Corp.) — high confidence, target: 2025-02-26
FAQ
When did PARK AEROSPACE CORP file this 10-Q?
PARK AEROSPACE CORP filed this Quarterly Report (10-Q) with the SEC on January 10, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by PARK AEROSPACE CORP (PKE).
Where can I read the original 10-Q filing from PARK AEROSPACE CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by PARK AEROSPACE CORP.
What are the key takeaways from PARK AEROSPACE CORP's 10-Q?
PARK AEROSPACE CORP filed this 10-Q on January 10, 2024. Key takeaways: Park Aerospace Corp. filed a 10-Q for the period ending November 26, 2023.. The filing covers the third quarter of fiscal year 2023.. The company's fiscal year ends on February 26th..
Is PARK AEROSPACE CORP a risky investment based on this filing?
Based on this 10-Q, PARK AEROSPACE CORP presents a relatively low-risk profile. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or high-risk events.
What should investors do after reading PARK AEROSPACE CORP's 10-Q?
Review the detailed financial statements and segment information within the 10-Q to understand Park Aerospace Corp.'s performance and identify any emerging trends. The overall sentiment from this filing is neutral.
How does PARK AEROSPACE CORP compare to its industry peers?
Park Aerospace Corp. operates in the aerospace industry, manufacturing complex structures and components for aircraft.
Are there regulatory concerns for PARK AEROSPACE CORP?
The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.
Industry Context
Park Aerospace Corp. operates in the aerospace industry, manufacturing complex structures and components for aircraft.
Regulatory Implications
The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.
What Investors Should Do
- Analyze the financial statements for revenue, net income, and cash flow.
- Review any disclosed risk factors or management discussion and analysis.
- Check for any significant events or changes in business operations mentioned in the filing.
Key Dates
- 2023-11-26: End of Reporting Period — Covers the third quarter of fiscal year 2023.
- 2024-01-10: Filing Date — Date the 10-Q was officially filed with the SEC.
Year-Over-Year Comparison
This is the 10-Q filing for the period ending November 26, 2023. Previous filings would include the 10-Q for the period ending August 28, 2023, and the 10-K annual report.
Filing Stats: 4,060 words · 16 min read · ~14 pages · Grade level 20 · Accepted 2024-01-10 12:29:02
Filing Documents
- pke20231126_10q.htm (10-Q) — 884KB
- ex_609016.htm (EX-31.1) — 12KB
- ex_609015.htm (EX-31.2) — 13KB
- ex_609014.htm (EX-32.1) — 5KB
- ex_609013.htm (EX-32.2) — 5KB
- 0001437749-24-001085.txt ( ) — 3988KB
- pke-20231126.xsd (EX-101.SCH) — 35KB
- pke-20231126_def.xml (EX-101.DEF) — 246KB
- pke-20231126_lab.xml (EX-101.LAB) — 225KB
- pke-20231126_pre.xml (EX-101.PRE) — 271KB
- pke-20231126_cal.xml (EX-101.CAL) — 37KB
- pke20231126_10q_htm.xml (XML) — 499KB
Financial Statements
Financial Statements           Condensed Consolidated Balance Sheets November 26, 2023 (Unaudited) and February 26, 2023 3         Consolidated Statements of Operations 13 weeks and 39 weeks ended November 26, 2023 and November 27, 2022 (Unaudited) 4         Consolidated Statements of Comprehensive Earnings 13 weeks and 39 weeks ended November 26, 2023 and November 27, 2022 (Unaudited) 5         Consolidated Statements of Shareholders’ Equity November 26, 2023 and November 27, 2022 (Unaudited) 6         Condensed Consolidated Statements of Cash Flows 39 weeks ended November 26, 2023 and November 27, 2022 (Unaudited) 7         Notes to Condensed Consolidated Financial Statements (Unaudited) 8         Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 16         Factors That May Affect Future Results 22         Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 22         Item 4.
Controls and Procedures
Controls and Procedures 22       PART II. OTHER INFORMATION:           Item 1.
Legal Proceedings
Legal Proceedings 23         Item 1A.
Risk Factors
Risk Factors 23         Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23         Item 3. Defaults Upon Senior Securities 23         Item 4. Mine Safety Disclosures 23         Item 5. Other Information 23         Item 6. Exhibits 24       EXHIBIT INDEX 25    
SIGNATURES
SIGNATURES 26   2      
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION  
Financial Statements
Item 1. Financial Statements.   PARK AEROSPACE CORP. AND SUBSIDIARIES   CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands)       November 26, 2023 (unaudited)     February 26, 2023*   ASSETS                 Current assets                 Cash and cash equivalents   $ 4,173     $ 4,237   Marketable securities (Note 3)     69,816       101,203   Accounts receivable, less allowance for doubtful accounts of $ 132 and $ 120 , respectively     9,897       9,989   Inventories (Note 4)     7,421       6,768   Prepaid expenses and other current assets     2,463       2,844   Total current assets     93,770       125,041                     Property, plant and equipment, net     23,747       24,251   Operating right-of-use assets (Note 5)     109       150   Goodwill and other intangible assets     9,783       9,783   Other assets     98       108   Total assets   $ 127,507     $ 159,333                     LIABILITIES AND SHAREHOLDERS' EQUITY                 Current liabilities                 Accounts payable   $ 1,110     $ 4,545   Operating lease liability (Note 5)     53       53   Accrued liabilities &