Ducommun reports Q4 non-GAAP EPS 75c, consensus 81c

Reports Q4 revenue $197.3M, consensus $195.58M. “We made excellent progress in our VISION 2027 commitments in 2024 with the bright spots being earnings, EBITDA margins and reaching 23% of revenue for Engineered Products. In addition, I am very happy to report that the Company reached an all-time revenue record for the second consecutive year in 2024. In Q4 we continued the top-line growth story for Ducommun (DCO), led by our military and space business,” said CEO Stephen Oswald. “Quarterly revenue exceeded $190M for the sixth consecutive quarter and increased to approximately $197M, resulting in another record full year revenue of $787M. Gross margins for the quarter also grew 180 bps year-over-year to 23.5% and 350 bps for the full year to 25.1%, another all-time record. Ducommun also ended the year with a strong backlog in excess of $1.0B, with military and space backlog being the bright spot, up almost $100M to $625M from 2023….Looking ahead to 2025, I am optimistic as well that Boeing’s progress on safety and quality control will allow them to regain stability and production growth in the second half of 2025 and into 2026, which would be great news for DCO and an inflection point for higher revenue. This along with the expected growth at Airbus, provides a strong outlook for our commercial aerospace business”.