Astronics Cp Down 16.33% To $17.68 After Earnings Miss

Astronics Cp (ATRO) said after close Thursday that it lost $0.37 per share in quarter two 2023.

On the revenue line, the company reported $174.5 million, beating estimates by $2 million.

In the same quarter a year ago, the company lost $0.34 per share on revenue of $129.1 million.

The stock is down 16.33% to $17.68 after the report.

Astronics Cp's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Astronics Cp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 62. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Astronics Corp supplies products to the aerospace, defense, and other industries. The company has two reportable segments namely Aerospace and Test Systems. The aerospace segment serves three primary markets: military, commercial transport and business jet markets. Test Systems segment serves the aerospace, defense, and semiconductor markets. The company generates a majority of its revenue from the Aerospace segment. Geographically, it generates a majority of its revenue from the United States.