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Astronics (ATRO) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Astronics (ATRO) Q2 2026 earnings results →

Q2 2026 Revenue up 27% year over year to $260M · 13¢ of every $1 of revenue kept as net profit · operating margin 15.6%

Astronics made $260M in Q2 2026 (+27% Y/Y): Aerospace $237M, Test Systems Segment $22.7M. Operating margin 15.6%, net earnings $35.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.

Revenue$260M
Year over year+27%
Operating margin15.6%
Net earnings$35.1M
Operating cash flow$30.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $260.0M in Q2 2026, up 27% year over year and up 13% from the previous quarter. Aerospace was the largest line at 91% of revenue. Aerospace added $43.7M year over year (up 23%), 79% of the total change.

Gross margin was 33.4%, up 7.6 points from Q2 2025. Operating profit was $40.5M, a 15.6% margin (up 13.2 points year over year). Of the extra revenue versus Q2 2025, 65% reached operating profit, above the 2% margin then. Operating expenses fell 3% while revenue rose 27%. Net earnings were $35.1M, up 2568% year over year. The effective tax rate was 7.4%.

Operating cash flow was $30.1M, 86% of net earnings. Non-cash charges added back $6.3M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $13.5M. Capital expenditures of $5.7M left free cash flow of $24.4M.

Quarterly history

Astronics revenue by quarterAstronics revenue by quarter$209MQ4 2024$206MQ1 2025$205MQ2 2025$211MQ3 2025$240MQ4 2025$231MQ1 2026$260MQ2 2026
Astronics net earnings by quarterAstronics net earnings by quarter−$2.8MQ4 2024$9.5MQ1 2025$1.3MQ2 2025−$11.1MQ3 2025$29.6MQ4 2025$25.5MQ1 2026$35.1MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 12, 2026$260M+27%15.6%$35.1M$30.1M
Q1 202610-QMay 13, 2026$231M+12%11.8%$25.5M$10.6M
Q4 202510-KFeb 26, 2026$240M+15%14.8%$29.6M$27.6M
Q3 202510-QNov 6, 2025$211M+4%10.9%−$11.1M$34.2M
Q2 202510-QAug 7, 2025$205M+3%2.3%$1.3M−$7.6M
Q1 202510-QMay 7, 2025$206M+11%6.4%$9.5M$20.6M
Q4 202410-KMar 5, 2025$209M+7%4.3%−$2.8M$26.4M

Charts

Astronics: revenue growth, year over year and quarter over quarterAstronics: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q4 2024+11%-1%Q1 2025+3%-1%Q2 2025+4%+3%Q3 2025+15%+14%Q4 2025+12%-4%Q1 2026+27%+13%Q2 2026
Latest (Q2 2026): Y/Y +27%, Q/Q +13%.
Astronics: where the cash came from (+) and went (−), TTM to Q2 2026Astronics: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$103MOther financing−$103MNet borrowing (+) / repaid (−)$60.0MCapital spending−$41.8MOther investing−$22.1MCash drawn (+) / kept (−)$4.4MExchange rates−$540K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Astronics: profit against cash, quarter by quarterAstronics: profit against cash, quarter by quarterNet incomeOperating cash flow−$11.7M$8.4MQ3 2024−$2.8M$26.4MQ4 2024$9.5M$20.6MQ1 2025$1.3M−$7.6MQ2 2025−$11.1M$34.2MQ3 2025$29.6M$27.6MQ4 2025$25.5M$10.6MQ1 2026$35.1M$30.1MQ2 2026
Latest (Q2 2026): Net income $35.1M, Operating cash flow $30.1M.
Astronics: diluted shares by fiscal yearAstronics: diluted shares by fiscal year31MFY202031MFY202132MFY202233MFY202335MFY202436MFY2025
+18.4% since FY2020: more shares outstanding (issuance, stock pay).
Astronics in its industry: growth against margin (10 companies, SIC 3728)Astronics in its industry: growth against margin (10 companies, SIC 3728)revenue growth, year over year →↑ operating marginmedian +27%median 16%TDGARXSDCOKRMNLOARAADXPKECVUAIRIATRO (+27%, 16%)
Aircraft Parts & Auxiliary Equipment, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About Astronics

Astronics Corporation (“Astronics” or the “Company”) is a leading provider of advanced technologies to the global aerospace, defense, and electronics industries. Our products and services include advanced, high-performance electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, systems certification, aircraft structures and automated test systems. We have principal operations in the United States (“U.S.”), Canada, France and Germany, as well as engineering offices in Ukraine and India. Our operation in Ukraine is a small engineering office and we have not experienced any significant disruption in staffing or services as a result of the continuing Ukrainian and Russian conflict.

In its own words, from its 10-K, filed Feb 26, 2026.

Astronics against its Aircraft Parts & Auxiliary Equipment, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +27% against the peers' median +27%. Operating margin: 15.6% against the peers' median 15.7%.

CompanyQuarterRevenueY/YOp. margin
ATRO AstronicsQ2 2026$260M+27%15.6%
TDG TransDigm GroupQ3 FY26$2.7B+22%44.8%
ARXS ArxisQ3 2026$564M+36%23.7%
DCO DucommunQ3 2026$227M+6%11.4%
KRMN Karman HoldingsQ3 2026$202M+66%15.7%
LOAR Loar HoldingsQ3 2026$176M+39%26.2%
AADX Applied Aerospace & DefenseQ2 2026$167M+47%-57.5%
PKE Park AerospaceQ2 FY27$20.8M+27%22.8%
CVU CPI AerostructuresQ2 2026$17.6M+16%6.8%

Source: Astronics 10-Q on SEC EDGAR · CIK 8063 · Aircraft Parts & Auxiliary Equipment, NEC

13F: who owns ATRO and who is buying

Largest holders of ATRO (13F)Largest holders of ATRO (13F)BlackRock$248MState Street$167MAmerican Century Companies$117MVanguard Capital Management LLC$115MCapital International Investors$108MVanguard Group$107MGeode Capital Management, LLC$84.6MPertento Partners LLP$80.7MNext Century Growth Investors LLC$60.4MAmeriprise Financial$57.7M
Funds' net buying of ATRO by quarter (13F)Funds' net buying of ATRO by quarter (13F)−$10.0M2024-09$6.9M2024-12$80.7M2025-03$115M2025-06−$79.6M2025-09$90.0M2025-12$7.4M2026-03−$66.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ATRO

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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