Back to top

Image: Bigstock

Will Segmental Performance Aid Astronics' (ATRO) Q1 Earnings?

Read MoreHide Full Article

Astronics Corporation (ATRO - Free Report) is slated to report its first-quarter 2023 results on May 9 before market open.   

Astronics came up with a four-quarter average negative earnings surprise of 40.16%. The strong segmental performance is likely to be favorable to the company’s first-quarter results.

Aerospace

Improving domestic airline travel, increased airline spending and solid demand from the narrowbody and widebody regional market are likely to have driven the sales of the Aerospace business unit in the first quarter of 2023.

The Zacks Consensus Estimate for Aerospace’s first-quarter revenues, pegged at $127 million, suggests a growth rate of 25.3% from the year-ago quarter’s reported figure.

Test Systems

Higher bookings and major program wins may have aided the performance of the segment in the soon-to-be-reported quarter.

The Zacks Consensus Estimate for Test Systems’ first-quarter revenues, pegged at $15.52 million, indicates growth of 5% from the year-ago quarter’s reported figure.

Astronics Corporation Price and EPS Surprise

Astronics Corporation Price and EPS Surprise

Astronics Corporation price-eps-surprise | Astronics Corporation Quote

First-Quarter Estimates

First-quarter sales are likely to reflect a collective positive impact of ATRO’s segment results from solid program wins, ease in China’s traveling restrictions and solid demand. These may have boosted the overall top line. However, supply-chain challenges may have partially continued to put a dent on the top and bottom lines.

The Zacks Consensus Estimate for first-quarter sales is pegged at $142.5 million, indicating an increase of 22.7% from the prior-year reported figure. Anticipated overall growth in sales, along with a solid operating margin, is likely to have been instrumental to ATRO’s first-quarter bottom line.

The Zacks Consensus Estimate for first-quarter earnings is pegged at a loss of 8 cents per share. This suggests an improvement from the prior-year quarter’s loss of 38 cents.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Astronics this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.

Astronics has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Upcoming Releases

HEICO Corporation (HEI - Free Report) delivered an earnings surprise of 1.52% in the last reported quarter.

The Zacks Consensus Estimate for HEI’s first-quarter sales is pegged at $654.3 million. This implies an improvement of 21.4% from the prior-year reported figure.

AAR Corp. (AIR - Free Report) delivered an earnings surprise of 10.29% in the last reported quarter.  The Zacks Consensus Estimate for fourth-quarter sales is pegged at $2.67 billion. This indicates an increase of 21.1% from the prior-year reported figure.

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $2.96 per share. This calls for an upside of 16.1% from the prior-year reported figure.

Recent Defense Release

Huntington Ingalls Industries, Inc.’s (HII - Free Report) first-quarter 2023 earnings of $3.23 per share decreased 2.7% from the $2.99 reported in the prior-year quarter. However, the bottom line surpassed the Zacks Consensus Estimate of $3.00 by 7.7%.

Total revenues came in at $2,674 million, beating the Zacks Consensus Estimate of $2,599.7 million by 2.9%. The top line increased 3.8% from $2,576 million in the year-ago quarter.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.  

Published in