Astronics Corporation reported record financial results for the third quarter of 2026, with sales increasing 28.5% to $271.7 million. The company recorded record operating income of $54.0 million, or 19.9% of sales, while adjusted operating income reached $51.0 million, or 18.8% of sales. Net income for the quarter was $52.2 million, or $1.08 per diluted share, compared to a net loss of $0.26 per diluted share in the prior year. Adjusted EBITDA was $59.3 million, or 21.8% of sales.
Revenue growth was driven by both the Aerospace and Test Systems segments. Aerospace sales increased 27.4% to $245.5 million, while Test Systems sales grew 40.0% to $26.2 million. The company noted that the acquisition of Bühler Motor Aviation (BMA) on October 13, 2025, is included in the financial results.
Bookings for the quarter totaled $271.1 million, resulting in a book-to-bill ratio of 1.00:1. The Aerospace segment booked $258.3 million, achieving a book-to-bill ratio of 1.05:1, a level above 1:1 for five consecutive quarters. Backlog at the end of the quarter was $780.0 million, with approximately 83% expected to convert to revenue over the next twelve months.
On the balance sheet, cash provided by operations was $25.8 million. Long-term debt decreased by $49.7 million to $284.8 million at October 3, 2026. The company maintained its 2026 revenue guidance of $1.02 billion to $1.04 billion, with fourth quarter sales expected to be between $255 million and $275 million. Planned capital expenditures for 2026 are expected to range from $25 million to $30 million.
