Astronics (ATRO) Investor presentation summary

Business overview and strategy

• Focuses on aerospace, defense, and mission-critical industries with innovative technology solutions and a strategy to grow value through organic development and acquisitions.

• Holds leading market positions in commercial aerospace, general aviation, and defense, with a diversified product portfolio including inflight entertainment, electrical power, lighting, safety, and test systems.

• Serves over 290 airlines and major OEMs such as Airbus, Boeing, Bell, Embraer, and Lockheed Martin.

• Recent acquisitions, including Bühler Motor Aviation and Envoy Aerospace, have expanded capabilities in seat motion and IFEC.

Financial performance and outlook

• Trailing twelve months (TTM) Q1 2026 sales reached $886.8 million, with a backlog of $985 million and bookings trending toward $1 billion.

• Gross margin improved to 32.6% in Q1 2026, with operating margin at 16.0% and adjusted EBITDA margin at 16.4%.

• Net income for TTM Q1 2026 was $45.4 million, with adjusted net income of $84.2 million and adjusted diluted EPS of $2.13.

• Free cash flow for TTM Q1 2026 was $40.3 million, with $231.8 million in total liquidity and $334.9 million in total debt.

• 2026 capital expenditures expected at $40–$45 million, with an ERP investment of $15–$17 million.

Key product lines and market positions

• In-seat power systems power over 2 million seats on 290+ airlines, holding over 90% market share in widebody aircraft.

• IFEC hardware and connectivity solutions are installed on a majority of widebody and a growing share of narrowbody fleets globally.

• Aircraft lighting systems are supplied to commercial, military, and business aviation, with a focus on lightweight, reliable, solid-state solutions.

• Flight critical electrical power systems are used in major programs such as the U.S. Army MV-75 Cheyenne and Boeing MQ-25 Stingray.

• Seat motion solutions, including the Carat brand, have a 30% market share and expanded with the Bühler Motor Aviation acquisition.