By Connor Hart
Shares of Astronics hit a five-year high after the company logged better-than-expected results in the fourth quarter and issued an upbeat outlook for the year ahead.
The stock was up 23%, to $24.60, in afternoon trading Wednesday, marking a slight retreat from its high of $25.06 earlier in the day. Shares, on pace for their largest percent increase in more than two years, have gained 33% in the past year.
The aerospace and defense technology company swung to a loss of $2.83 million, or 8 cents a share, compared with net income of $6.98 million, or 20 cents a share, a year earlier.
Adjusted earnings came in at 48 cents. Two analysts polled by FactSet expected adjusted per-share earnings of 28 cents.
Revenue increased to $208.5 million from $195.3 million, coming in ahead of the $194.9 million that two analysts predicted.
Chief Executive Peter Gundermann said that while growth is expected to moderate in 2025, the company's strengthened balance sheet, improving margins and record backlog are signs of a good year ahead.
For the first quarter, Astronics projected sales between $190 million and $205 million, with subsequent quarters stepping up from there, it said. Two analysts surveyed by FactSet modeled first-quarter sales of $193.6 million.
The company guided for revenue of $820 million to $860 million in 2025, compared with analyst views for $831.3 million.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 05, 2025 15:27 ET (20:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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