Astronics : Baird Global Industrial Conference
ATRO
Baird Global Industrial Conference
November 14, 2024
Nasdaq: ATRO
Peter J. Gundermann, Chairman, President & CEO David C. Burney, Executive Vice President & CFO
Nancy L. Hedges, Controller & Principal Accounting Officer
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Safe Harbor Statement
This presentation contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions and include all statements with regard to the timing for the ruling on the Company's UK and French patent infringement damages proceedings and the amount of any such damages that may become due and payable by the Company as a result, the Company's ability to appeal the ruling on the Company's UK patent infringement damages claim, the timing as to when the damages in the UK patent infringement claim will become due and payable, to achieving any revenue or profitability expectations, commercial aerospace widebody/long haul build rates and order rates, the timing of pricing and impact of inflation on margins, the effectiveness on profitability of cost reduction efforts, the timing of receipt of task orders or future orders, the timing of projects through development to LRIP to full rate production including the TS 4549/T and FLRAA, the rate of cash generation, the impact of volume on margins, the effectiveness of pricing in new or renewed contracts, the expectations of demand by customers and markets, and the resolution of intellectual property disputes. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include any impact from global pandemics and related governmental and other actions taken in response, trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing
aircraft which contain the Company's products, the need for new and advanced test and simulation equipment, customer preferences and relationships, the
effectiveness of the Company's supply chain, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this presentation whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
Non-GAAP Financial Measures
This presentation will discuss some non-GAAP ("adjusted") financial measures which we believe are useful in evaluating our performance. You should not consider the presentation of this additional information in isolation or as a substitute for results compared in accordance with GAAP. The non-GAAP ("adjusted") measures are notated and we have provided reconciliations of comparable GAAP to non-GAAP measures in tables found in the Supplemental Information portion of this presentation.
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Astronics Corporation (Nasdaq: ATRO)
INNOVATION. COLLABORATION. SUCCESS.
Astronics serves the world's aerospace, defense, and other mission critical industries with proven, innovative
technology solutions. Our strategy is to grow value by developing technologies, organically or through acquisition, for our targeted markets.
Market Cap
$630 million
Shares Out - Common
29.7 million
Recent Price
$18.09
Shares Out - Class B
5.6 million
52-Week Range (high/low)
$23.74 / $14.54
Institutional ownership
61%
Average Daily Volume (3 mos.)
137,000
Insider ownership
9%
Established/IPO
1968/1972
Index membership
Russell 3000®/2000®
Market data as of November 11, 2024 [Source: S&P Capital IQ]; ownership as of most recent filings
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Aerospace Test Systems
12%
Solid Franchise with
Leading Market Positions
23%
88%
10%
TTM Q3 24 Sales:
$782.2 million
Commercial Aerospace
General Aviation
Defense & Government*
Other
3%
65%
Commercial Aerospace
~50/50 Line Fit/Aftermarket
~50/50 Narrowbody/Widebody
*Includes Test and Aerospace sales
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Significant Wins to Contribute Meaningful Revenue
Strong tailwinds and growth drivers
*Guidance provided November 6, 2024. Segment sales tally may differ due to rounding.
2024 Guidance Implies Growth Y/Y of >14%
Persistent tailwinds
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Astronics Strategic Thrusts
Elevating Innovation
PRODUCT LINES
STRATEGIC THRUSTS
TTM Q3 24 Sales:
Electrical Power & Motion
$782 million
Lighting & Safety
Avionics/Systems
Certification
Structures
Test Solutions
Other
15%
Flight Critical
49%
Inflight Entertainment &
Electrical Power
Connectivity (IFEC)
22%
1% All 12%
Other
Aircraft Lighting & Safety
Test Solutions
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Aircraft Inflight Entertainment & Connectivity
Aircraft Data Systems
IFC Radome Systems
Power for Passengers and Crew
Inflight Entertainment Systems Hardware
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IFEC: IN-SEAT POWER SYSTEM (ISPS)
*Company estimates based on pre-COVID airline fleets
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8
Lighting & Safety Solutions
Exterior
Cockpit
Emergency / Safety Systems
Cabin
9
Disclaimer
Astronics Corporation published this content on November 14, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 14, 2024 at 12:17:22.538.