Astronics Corporation reported consolidated sales of $204.7 million for the second quarter ended June 28, 2025, representing a 3.3% increase year-over-year. The Aerospace segment achieved record sales of $193.6 million, up 9.4%, driven by strong demand in the Commercial Transport market. However, Test Systems sales declined by $10.1 million to $11.1 million.
The Test Systems segment was negatively impacted by a $6.4 million Estimate at Completion (EAC) adjustment on certain long-term mass transit contracts, which had a $6.9 million detrimental impact on operating income. Additionally, Aerospace simplification initiatives resulted in $6.2 million in restructuring charges within cost of products sold.
Adjusted EBITDA for the quarter was $25.4 million, or 12.4% of sales, and adjusted net income was $13.7 million, or $0.38 per diluted share. The company reported a GAAP net income of $1.3 million, or $0.04 per diluted share. Cash used by operations was $7.6 million, after absorbing $21.6 million in UK patent dispute payments and $12.0 million in income tax payments during the quarter.
Astronics raised the lower end of its 2025 revenue guidance to $840 million to $860 million, with the midpoint representing a 6.9% increase over 2024 sales. Planned capital expenditures for 2025 are projected to be in the range of $40 million to $50 million, reflecting strategic investments in facility consolidation and capacity expansion.
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