Astronics Corporation has reported the company’s financial results for the three and 12 months ended 31 December 2024.
“2024 was another year of solid progress ending with a strong fourth quarter,” Peter J. Gundermann, Chairman, President and Chief Executive Officer, commented.
“For the quarter, we achieved near record sales despite Boeing’s 737 production pause. The higher volume and improved operating efficiencies resulted in higher margins, with an adjusted EBITDA margin of 15.1%. We generated strong cash flow from operations of $26.4 million in the quarter. The quarter closed a year of 15% sales growth, our third year in a row of substantial double-digit growth.
Gundermann also noted that the company’s margins improved steadily through the year and demand remained robust, resulting in an ending backlog of USD 599 million. “Our strong backlog, improving operating efficiencies, stabilising supply chain, and our improved liquidity position from our recent financing activities position us well for the opportunities we see in 2025.”
