Astronics Corporation reported consolidated sales of $208.5 million for the fourth quarter of 2024, a 6.8% increase year-over-year, contributing to full year 2024 sales of $795.4 million, a 15.4% increase from 2023. The Aerospace segment achieved record sales of $188.5 million in Q4, an 11.7% increase, despite the Boeing 737 production pause.
Adjusted EBITDA for Q4 was $31.5 million, or 15.1% of consolidated sales, and for the full year was $96.5 million, or 12.1% of sales. The company generated $26.4 million in cash from operations in Q4, marking its largest cash-generating quarter since Q3 2019. GAAP net loss for Q4 was $(2.8) million, or $(0.08) per diluted share, while adjusted net income was $16.8 million, or $0.48 per diluted share.
Astronics strengthened its financial position by amending its ABL Revolving Credit Facility to $220 million and issuing $165 million in 5.500% Convertible Senior Notes on December 3, 2024. The company fully repaid its $54.9 million term loan, reducing net debt to $156.6 million. Astronics maintained its 2025 revenue guidance of $820 million to $860 million and projected capital expenditures between $35 million and $40 million for the year.
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