Astronics (ATRO) To Report Q3 Earnings: What's In The Cards?
Zacks Investment Research | Oct 29, 2019 11:26PM ET
Astronics Corporation (NASDAQ:ATRO) is set to report third-quarter 2019 financial results on Nov 5, before market open.
In the last reported quarter, the company delivered a negative earnings surprise of 45.71%. However, it came up with an average trailing four-quarter beat of 0.09%.
Let's take a closer look at how things have shaped up prior to the announcement.
Factors to Consider
A persistent decline in deliveries of Boeing (NYSE:BA) 737 Max jets is expected to have hurt the company’s revenues in the third quarter. With no surety about the return of this jet family to service anytime soon, Boeing slashed its production rate for 737 in April, which is also likely to have impacted Astronics’ top line in the soon-to-be-reported quarter. Moreover, the company has been witnessing a slowdown in demand for connectivity hardware, which, in turn, may have hurt its sales growth.
Considering the aforementioned factors, we remain skeptical about the company’s top line performance in the third quarter. The Zacks Consensus Estimate for third-quarter revenues is pegged at $168.1 million, indicating 21% decline from the year-ago quarter’s reported figure.
Astronics Corporation Price and EPS Surprise
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