Astronics reports Q2 adjusted EPS 38c vs 20c last year

Reports Q2 revenue $204.678M vs $198.114M last year. Peter Gundermann, Chairman, President and Chief Executive Officer, commented, “We had a very solid second quarter and demonstrated continued progress as revenue stabilizes above $200 million per quarter. We also took some actions that will improve our future earnings power. After a company-wide review of our product portfolio, we took the action to step away from a couple of product lines that have proven to be low margin and low growth. We also took a meaningful increase in our estimate to complete for some projects in our Test business, which masked the progress we have made restructuring that business in recent quarters. These actions will allow us to simplify our business and focus on efforts that promise the greatest returns. Combined with the supportive market conditions we are experiencing, we believe we are well positioned for the future as we look to finish strong in 2025 and beyond.”