Astronics Corporation (NASDAQ:ATRO) Q3 2022 Earnings Call Transcript

Peter Gundermann: Yeah. I would say we’re pretty comfortable with the prices that we’re getting. Most of what we’re dealing with where we have pressure our older price levels that have been in place in the system for a while. But a lot of the more recent demand we think comes at pretty reasonable pricing levels. The other thing I would say about our backlog and the range of bigger programs that we’ve announced, they’re not in there yet. I mean, they’re just not there. We talked about a pretty major award with Southwest. I think at the end of the third quarter, we had like 10 ship sets in there or something like that. So, there’s a lot of that to come. 4549/T is obviously not in there. And some of the others — not going through the whole list, I guess we feel like if we can get the volume up and get the new programs into production, our margin profile will look quite a bit better than it does today, where we’re stuck with these inventory premiums that we have to pay, spot buys and pricing from six months or a year ago when things were different.

So, we, obviously, have to cycle that through. But I think we’ll get that done. It’s just a matter of time.

Michael Ciarmoli: Got it. Perfect. Thanks guys.

Operator: And we have reached the end of our question-and-answer session. I’ll now turn the call back over to Peter Gundermann for closing remarks.

End of Q&A:

Peter Gundermann: Okay. Thank you, and thanks everybody for tuning in. We look forward to talking to you at the — when the fourth quarter is over, probably in early February. Have a good day.

Operator: And this concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.