Shares of Astronics Corporation (ATRO) surged 9.27% intraday on Wednesday, driven by the company's impressive fourth-quarter 2024 earnings results and positive outlook for the aerospace industry.
Astronics reported record sales of $208.5 million for Q4, representing a 6.8% year-over-year increase and exceeding analyst estimates. The company's core Aerospace segment achieved an all-time high of $188.5 million in sales, marking an 11.7% jump from the previous year.
The company's operational efficiency significantly improved, as evidenced by its adjusted operating income climbing to 11.4% in Q4, up from 5.9% a year ago. Notably, Astronics generated $26.4 million in cash from operations, its first significantly positive cash quarter since the pre-pandemic period, indicating a robust recovery in the aerospace industry.
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