Park Aerospace(PKE)

Search documents
Park Aerospace(PKE) - 2025 Q3 - Quarterly Report
2025-01-15 20:22
Financial Performance - The Company's net sales for the 13 weeks ended December 1, 2024, were $14.4 million, a 23.8% increase from $11.6 million in the same period last year [72]. - For the 39 weeks ended December 1, 2024, net sales reached $45.1 million, up 13.7% from $39.7 million in the prior year [72]. - Net earnings for the 13 weeks ended December 1, 2024, were $1.577 million, a 31.1% increase from $1.203 million in the prior year [83]. - The Company's net earnings for the 13 weeks ended December 1, 2024, were $1.6 million, an increase from $1.2 million for the same period in 2023, while net earnings for the 39 weeks were $4.6 million, down from $4.8 million [96]. - Basic and diluted earnings per share for the 13 weeks ended December 1, 2024, were $0.08 and $0.23, respectively, compared to $0.06 and $0.24 for the same period in 2023 [97]. Expenses and Costs - Gross profit margins for the 13 weeks ended December 1, 2024, were 26.6%, down from 27.2% in the same period last year [75]. - Selling, general and administrative expenses increased by 9.9% during the 13 weeks ended December 1, 2024, compared to the prior year's comparable period [88]. - The Company continues to face inflationary pressures on raw materials and supplies, but has been able to pass some of these costs onto customers [78]. Cash Flow and Dividends - Net cash provided by operating activities for the 39 weeks ended December 1, 2024, was $3.7 million, compared to a net cash used of $886,000 for the same period in 2023 [99]. - The Company paid $7.6 million in cash dividends during the 39 weeks ended December 1, 2024, significantly lower than $28.1 million in the same period in 2023, which included a special cash dividend of $20.5 million [101]. Assets and Liabilities - Cash and cash equivalents and marketable securities decreased to $70.0 million as of December 1, 2024, from $77.2 million on March 3, 2024, a change of $7.2 million [98]. - Accounts receivable decreased by 22% at December 1, 2024, compared to March 3, 2024, while inventories increased by 65% during the same period [102]. - The Company's current ratio was 7.6 to 1.0 at December 1, 2024, down from 10.2 to 1.0 at March 3, 2024 [103]. Other Financial Activities - The Company recorded a charge of $1.1 million related to storm damage and repair costs for the 39 weeks ended December 1, 2024 [71]. - Interest income increased by 11.1% and 20.7% for the 13 weeks and 39 weeks ended December 1, 2024, respectively, due to higher interest rates [92]. - The Company purchased treasury shares totaling $4.3 million during the 39 weeks ended December 1, 2024, compared to $2.9 million in the same period in 2023 [104]. - The Company believes its financial resources will be sufficient for continued investment in working capital and general corporate purposes for the foreseeable future [105]. - The Company is not engaged in any off-balance sheet financing arrangements, ensuring its liquidity is not dependent on such methods [108]. Future Expectations - The Company expects all repairs from storm damage to be completed in the first quarter of fiscal year 2026 [71].
Park Aerospace(PKE) - 2025 Q3 - Quarterly Results
2025-01-14 21:28
Contact: Donna D'Amico-Annitto 486 North Oliver Road, Bldg. Z Exhibit 99.1 NEWS RELEASE During the 2025 fiscal year first nine months, the Company recorded $1,098,000 of pre-tax charges related to storm damage to the Company's facilities in Newton Kansas. During the 2024 fiscal year's first nine months, the Company recorded $570,000 of pre- tax activist shareholder defense costs, $65,000 of pre-tax losses on sales of investments to fund the $1.00 per share special cash dividend paid on April 6, 2023 to shar ...
Park Aerospace Corp. Reports Third Quarter Results
GlobeNewswire News Room· 2025-01-14 21:10
NEWTON, Kan., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE-PKE) reported results for the 2025 fiscal year third quarter ended December 1, 2024. The Company will conduct a conference call to discuss its financial results and other matters at 5:00 p.m. EST today. A live audio webcast of the event, along with presentation materials, will be available at https://edge.media-server.com/mmc/p/7jbapomd at 5:00 p.m. EST today. The presentation materials will also be available at approximately 4:15 p. ...
Park Aerospace Corp. Chairman and CEO to Speak at Annual Needham Growth Conference
GlobeNewswire· 2025-01-13 16:48
Company Overview - Park Aerospace Corp. develops and manufactures advanced composite materials for the global aerospace markets, including film adhesives and lightning strike protection materials [2] - The company's products are utilized in various aerospace applications, including jet engines, transport aircraft, military aircraft, UAVs, business jets, and rocket motors [2] - Park Aerospace aims to tackle projects that others find too difficult or unappealing, focusing on niche markets and specialized applications [2] Upcoming Events - Brian E. Shore, Chairman and CEO of Park Aerospace, will speak at the 27th Annual Needham Growth Conference on January 16, 2025, at 2:15 p.m. EST [1] - The presentation will be available via live audio webcast, with archived replay accessible for 90 days [1] - Presentation materials will be released on the company's website on the same day at approximately 8:30 a.m. EST [1]
Park Aerospace Corp. Announces Date of Third Quarter Earnings Release and Conference Call
GlobeNewswire· 2025-01-10 13:00
NEWTON, Kan., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE - PKE) announced that it plans to release its financial results for its 2025 fiscal year third quarter ended December 1, 2024 after the New York Stock Exchange closes on Tuesday, January 14, 2025. The Company will conduct a conference call to discuss such results at 5:00 p.m. EST on the same day. Forward-looking and other material information may be discussed in this conference call. The conference call dial-in number is (877) 407-39 ...
Park Aerospace Growth Potential Weighed Down By Valuation Issues
Seeking Alpha· 2024-10-21 16:08
The mission of Grassroots Trading rests on the following principles: providing objective, unbiased, and balanced research, backed by solid data and completely void of emotional influences or preference for companies; focusing on small- to mid-cap companies, offering the Seeking Alpha investor compelling points of view on these often overlooked investment opportunities; and periodically identifying potential opportunities in large- and mega-cap companies, expanding the scope to provide encompassing coverage ...
Park Aerospace(PKE) - 2025 Q2 - Quarterly Report
2024-10-16 17:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 1, 2024 OR ☐ 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 1-4415 PARK AEROSPACE CORP. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |------ ...
Park Aerospace(PKE) - 2025 Q2 - Earnings Call Presentation
2024-10-16 04:08
PARK AEROSPACE CORP. FY2025 Q2 Investor Conference Call October 15, 2024 ***Celebrating Park's 70th Anniversary*** Forward Looking Disclaimer This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events or our future financial or operating performance, and include Park's expectations regarding revenues, Adjusted EBITDA, EBIT, and gro ...
Park Aerospace(PKE) - 2025 Q2 - Earnings Call Transcript
2024-10-16 04:08
Financial Data and Key Metrics Changes - For Q2 2025, the company reported sales of $16.7 million, gross profit of $4 million, and EBITDA of $3.2 million, slightly exceeding previous sales estimates of $15.9 million to $16.4 million and within the EBITDA estimate range of $3 million to $3.3 million [4][6][27] - The gross margin for Q2 was reported at 28.5%, impacted by approximately 2% due to depreciation expenses related to a new production facility [6][8] Business Line Data and Key Metrics Changes - Sales from the ArianeGroup RAYCARB product amounted to approximately $2.2 million in Q2, while ablative material sales were only $750,000, indicating a shift towards lower-margin products [5][6] - The company faced $600,000 in missed shipments due to international shipment issues and supply chain challenges [7] Market Data and Key Metrics Changes - The aerospace industry is currently facing significant supply chain challenges, affecting overall market sentiment and operational efficiency [28][29] - Airbus has pushed back its goal for achieving a delivery rate of 75 A320neo aircraft per month from 2026 to 2027 due to ongoing supply chain issues, particularly with engine availability [18][19] Company Strategy and Development Direction - The company is focused on ramping up its new production facility to meet future demand, referred to as the "Juggernaut," which is expected to significantly increase sales [7][30] - Park Aerospace is pursuing additional manufacturing lines and partnerships to support critical defense programs, indicating a strategic focus on expanding capabilities in high-demand sectors [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the current state of the aerospace industry, highlighting ongoing supply chain issues that continue to impact production and sales forecasts [28][29] - The company remains optimistic about future sales opportunities, particularly with the GE Aerospace programs, despite acknowledging the risks associated with supply chain limitations [27][30] Other Important Information - The company has a strong cash position with $72 million in cash and no long-term debt, allowing for strategic investments and share buybacks [46] - A new license agreement for hypersonic missile programs has been established, indicating potential growth in defense-related revenues [33] Q&A Session Summary Question: Share repurchase strategy - The management was commended for being judicious in share repurchases, avoiding overpaying for stock [51] Question: Automation in new facilities - Inquiry about the potential disadvantages of not incorporating automation in the new facility was raised, with acknowledgment of the strong workforce culture [52]
Park Aerospace(PKE) - 2025 Q2 - Quarterly Results
2024-10-15 20:23
Exhibit 99.1 NEWS RELEASE Contact: Donna D'Amico-Annitto 486 North Oliver Road, Bldg. Z Newton, Kansas 67114 (316) 283-6500 PARK AEROSPACE CORP. REPORTS SECOND QUARTER RESULTS Newton, Kansas, Tuesday, October 15, 2024…..Park Aerospace Corp. (NYSE-PKE) reported results for the 2025 fiscal year second quarter ended September 1, 2024. The Company will conduct a conference call to discuss its financial results and other matters at 5:00 p.m. EDT today. A live audio webcast of the event, along with presentation m ...