SANTA ANA, CA – Ducommun reported revenue of $105.6 million for its Electronic Systems segment in the first quarter, up 8.3% compared to the revenue of $97.5 million for the first quarter of 2022.

The company said the year-over-year increase was primarily due to $5 million higher revenue in its commercial aerospace end-use markets due to higher build rates on other commercial aerospace platforms and $1.5 million higher revenue within its military and space end-use markets due to higher build rates on other military and space platforms, partially offset by lower build rates on military fixed-wing aircraft platforms.

As a whole, Ducommun saw an 11% increase in quarterly revenue to total $181.2 million.

“We are off to a good start in 2023, with double digit top-line growth, led by strong Commercial Aerospace demand and continued steady performance from our defense business,” said Stephen G. Oswald, chairman, president and chief executive officer. “Quarterly revenue exceeded $180 million for a second consecutive quarter, increasing to $181.2 million, up 11% over Q1 2022. Our excellent position on narrow-body aircraft was key to driving Commercial Aerospace revenues up 35% year-over-year, another positive sign the recovery is in good shape and will only get better this year and in 2024. The company also delivered gross margins in Q1 2023 of 20.3%, a solid overall performance as well as we continue to work through our meaningful restructuring activities. Our Q1 2023 adjusted EBITDA of $23.1 million is an increase of $3.0 million compared to a year ago."

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