Astronics - You’ve Never Heard of It.

I don’t normally write much about investment ideas anymore primarily because we have The Report with quick notes on over +30 ideas but I am going to start sharing a few views here and there on this site going forward - plus, if I am being honest I feel like most that write these things are after social credit (atta boys!) and while that’s cool what I really care about are generating returns for our clients!

We’re going to start with Astronics ( $ATRO ( ▲ 4.75% ) ) which I found through my research last year on Boeing.

For those new here, I started talking about Boeing last August as it faced troubles because part of the investment framework we run in the investment firm are turn-arounds or distressed situations.

Astronics Corporation designs and manufactures advanced technologies for the aerospace, defense, and electronics industries. Its core offerings include:

• Aircraft Electrical Systems: Power generation, distribution, and management systems for commercial and military aircraft.

• Lighting and Safety Systems: Interior and exterior aircraft lighting, including emergency and cockpit lighting.

• Avionics: Communication, navigation, and control systems, such as in-flight entertainment and connectivity solutions.

• Test Systems: Automated test equipment for aerospace and defense applications, ensuring system reliability.

The company serves major clients like Boeing, Airbus, and the U.S. Department of Defense, focusing on enhancing aircraft performance, safety, and passenger experience.

Summary

• Given the turnaround in Boeing and their 737 max production, among other lines, Astronics will continue to benefit.

• A record sales backlog of $645 million with $574 million attributed to the aerospace division.

• Gross profit margin expansion makes this a turnaround to growth story into 2026 and a potential double from these levels.

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