atro-20260704

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q


☒			Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended July 4, 2026


☐			Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission File Number 0-7087

ASTRONICS CORPORATION

(Exact name of registrant as specified in its charter)


New York (State or other jurisdiction of incorporation or organization)			16-0959303 (IRS Employer Identification Number)

130 Commerce Way, East Aurora, New York (Address of principal executive offices)			14052 (Zip code)

(716) 805-1599

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $.01 par value per share	ATRO	The NASDAQ Stock Market LLC

Securities registered pursuant to Section 12(g) of the Act: None

NOT APPLICABLE

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes ý No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨

Table of Contents

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definition of “large accelerated filer”, “accelerated filer”, “non-accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer

☒

Accelerated filer

☐

Emerging growth company

☐

Non-accelerated filer

☐

Smaller Reporting Company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)

of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ý

As of August 6, 2026, 43,009,064 shares of common stock were outstanding consisting of 36,107,984 shares of common stock ($.01 par value) and 6,901,080 shares of Class B common stock ($.01 par value).

Table of Contents

TABLE OF CONTENTS

PAGE

PART I

FINANCIAL INFORMATION

Item 1

Financial Statements:

•

Consolidated Condensed Balance Sheets as of July 4, 2026 and December 31, 2025

•

Consolidated Condensed Statements of Operations for the Three and Six Months Ended July 4, 2026 and June 28 , 2025

•

Consolidated Condensed Statements of Comprehensive Income for the Three a nd Six Months Ended July 4, 2026 and June 28 , 2025

•

Consolidated Condensed Statements of Cash Flows for the Six Months Ended July 4, 2026 and June 28 , 2025

•

Consolidated Condensed Statements of Shareholders’ Equity for the Three and Six Months Ended July 4, 2026 and June 28 , 2025

•

Notes to Consolidated Condensed Financial Statements

Item 2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Item 3

Quantitative and Qualitative Disclosures about Market Risk

Item 4

Controls and Procedures

PART II

OTHER INFORMATION

Item 1

Legal Proceedings

Item 1A

Risk Factors

Item 2

Unregistered Sales of Equity Securities and Use of Proceeds

Item 3

Defaults Upon Senior Securities

Item 4

Mine Safety Disclosures

Item 5

Item 6

Part I – Financial Information

Item 1. Financial Statements

ASTRONICS CORPORATION

Consolidated Condensed Balance Sheets

July 4, 2026 with Comparative Figures for December 31, 2025

(Unaudited)

(In thousands)


	July 4, 2026		December 31, 2025

Current Assets:
Cash and Cash Equivalents	$	9,016	$	18,180

Accounts Receivable, Net of Allowance for Estimated Credit Losses	228,900		204,672
Inventories	220,065		196,860
Prepaid Expenses and Other Current Assets	27,763		18,027

Total Current Assets	485,744		437,739
Property, Plant and Equipment, Net of Accumulated Depreciation	115,568		107,078
Operating Right-of-Use Assets	31,273		32,269
Other Assets	14,366		11,316
Intangible Assets, Net of Accumulated Amortization	49,392		55,353
Goodwill	64,501		62,923
Total Assets	$	760,844	$	706,678
Current Liabilities:

Accounts Payable	$	64,399	$	41,080
Current Operating Lease Liabilities	5,930		5,802
Accrued Expenses and Other Current Liabilities	66,462		68,324
Customer Advance Payments and Deferred Revenue	26,589		26,069

Total Current Liabilities	163,380		141,275
Long-term Debt	310,319		334,451
Long-term Operating Lease Liabilities	36,717		38,101
Other Liabilities	52,208		52,777
Total Liabilities	562,624		566,604
Shareholders’ Equity:1
Common Stock	457		456
Accumulated Other Comprehensive Loss	(6,108)		(