Filing Flows › Astronics (ATRO) › Q1 2026 › vs Q4 2025
Astronics (ATRO) Q1 2026 vs Q4 2025 (quarter over quarter)
Astronics's revenue fell $9.4M (-4%) from $240M in Q4 2025 to $231M in Q1 2026. The biggest changes: Aerospace −$5.8M (-3%); Test Systems Segment −$3.7M (-18%). Gross margin 32.6% against 33.3% (-0.7 pts).
Astronics, Q1 2026: revenue $231M (+12% year over year), operating margin 11.8%, net earnings $25.5M, operating cash flow $10.6M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 32.6% | 33.3% | -0.7 pts |
| Operating margin | 11.8% | 14.8% | -3.0 pts |
| Net margin | 11.1% | 12.3% | -1.3 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Aerospace | $214M | $220M | −$5.8M | -3% |
| Test Systems Segment | $16.8M | $20.5M | −$3.7M | -18% |
| Revenue | $231M | $240M | −$9.4M | -4% |
| Gross profit | $75.1M | $80.0M | −$4.8M | -6% |
| Cost of revenue | $155M | $160M | −$4.6M | -3% |
| Operating profit | $27.2M | $35.5M | −$8.2M | -23% |
| Operating expenses | $47.9M | $44.5M | $3.4M | +8% |
| Pre-tax earnings | $24.8M | $32.2M | −$7.5M | -23% |
| Other expense, net | $2.4M | $3.2M | −$773K | -24% |
| Research & development | $12.1M | $10.6M | $1.5M | +14% |
| SG&A | $35.8M | $33.9M | $1.9M | +6% |
| Income tax benefit | $755K | −$2.6M | $3.4M | — |
| Net earnings | $25.5M | $29.6M | −$4.1M | -14% |
| Depreciation & amortization | $5.9M | $5.7M | $185K | +3% |
| Share-based compensation | $2.6M | $1.5M | $1.1M | +75% |
| Working capital & other | $23.4M | $9.2M | $14.2M | +155% |
| Operating cash flow | $10.6M | $27.6M | −$17.0M | -62% |
| Capital expenditures | $11.2M | $11.8M | −$653K | -6% |
| Negative free cash flow (OCF − capex) | $554K | −$15.8M | $16.4M | — |
Questions
How much did Astronics's revenue grow quarter over quarter in Q1 2026?
Astronics's revenue fell $9.4M (-4%) from $240M in Q4 2025 to $231M in Q1 2026.
What drove Astronics's revenue change in Q1 2026?
Aerospace −$5.8M (-3%); Test Systems Segment −$3.7M (-18%).