Jonathan Tanwanteng

Michael Ciarmoli

Samuel Struhsaker

- Astronics Corp reported **Q2 2025 sales of $204.7 million**, with the Aerospace segment achieving record sales of **$193.6 million**.  **[8063_tx_375184_5]**  Adjusted net income for the quarter increased by **$6.5 million** to **$13.7 million**, or **$0.38 per diluted share**, and consolidated adjusted EBITDA rose **25.5%** to **$25.4 million**.  **[8063_tx_375184_5]** 
- The company's backlog remains elevated at **$645 million**, with the vast majority deliverable within twelve months.  **[8063_tx_375184_5]**  For **2025**, Astronics expects sales to be in the **$850 million** range.  **[8063_tx_375184_4]** 
- Key growth drivers include the **Future Long Range Assault Aircraft (FLRAA)** program for the U.S. Army, where Astronics expects its shipset content to be around **$1 million** per aircraft, with potential for **2,000** aircraft and production starting around **2029/2030**.  **[8063_tx_375184_4]** **[8063_tx_375184_7]** **[8063_tx_375184_8]**  The Test business also has significant programs, including a **$200 million** program for the Army expected to start in **2026**.  **[8063_tx_375184_4]** 
- Astronics generated **$13 million** in operating cash flow in Q2 2025, despite a **$22 million** payment for a legal settlement.  **[8063_tx_375184_6]**  The company ended Q2 with **$191 million** in total liquidity and expects **$40-50 million** in capital expenditures for **2025**.  **[8063_tx_375184_6]**

ASTRONICS (ATRO)