Astronics (ATRO) Investor presentation summary

Market position and business overview

• Serves aerospace, defense, and mission-critical industries with innovative technology solutions, focusing on organic growth and acquisitions in targeted markets.

• FY 2025 sales reached $862.1 million, with 92% from aerospace and 8% from test systems.

• Holds leading market positions in in-seat power systems, lighting, and electrical power for aircraft, with high barriers to entry and significant market share.

• Major customers include over 280 airlines and leading aerospace and defense manufacturers.

• Recent acquisitions include Envoy Aerospace and Bühler Motor Aviation, expanding certification and premium seating motion control capabilities.

Financial performance and outlook

• Revenue rebounded post-pandemic, with 2025 revenue at $862 million and 2026 guidance of $950–$990 million.

• Adjusted EBITDA for 2025 was $134.5 million (15.6% margin), up from $96.5 million in 2024.

• Adjusted diluted EPS rose to $2.01 in 2025 from $1.08 in 2024.

• Free cash flow for 2025 was $43.1 million, with strong liquidity and $230.9 million in available liquidity as of February 2026.

• 2026 capital expenditures expected at $40–$50 million, including $14–$18 million for ERP investment.

Strategic initiatives and product innovation

• Focuses on electrical power, lighting & safety, avionics, certification, structures, and test solutions.

• In-seat power systems power over 2 million seats on 290+ airlines, with ~90% market share in widebody and ~65% in narrowbody aircraft.

• Leading provider of solid-state lighting and flight-critical electrical power systems, including for the U.S. Army FLRAA program.

• Expanding into emerging markets such as drones and eVTOL aircraft, with multiple development programs underway.

• Well positioned on high-profile aircraft platforms across commercial, business, and military segments.