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Ducommun Incorporated (NYSE: DCO) is a prominent global provider of manufacturing and engineering services, delivering innovative electronic, engineered, and structural solutions for complex applications in the aerospace, defense, industrial, natural resources, and medical markets. Founded in 1849, Ducommun has a rich history as the oldest continuously operating company in California.
The company operates through two key segments: Structural Systems and Electronic Systems. The Structural Systems segment is involved in designing, engineering, and manufacturing complex aerostructure components and assemblies, including composite and metal bonded structures. These components are critical for various commercial and military aerospace platforms, ensuring high performance and reliability.
The Electronic Systems segment focuses on creating high-reliability electronic and electromechanical products. These products are utilized in technology-driven markets worldwide, including aerospace, defense, and industrial applications. The segment generates the majority of Ducommun's revenue, showcasing its crucial role in the company’s overall performance.
Ducommun is known for its full-service collaborative approach, offering value-added services such as prototyping, new product introduction, supply chain strategies, and program management. These services help create value for customers by providing innovative solutions to their complex electronic and structural needs.
In recent years, Ducommun has achieved significant milestones, including a year-over-year increase in market capitalization from $605M in 2022 to $760M in 2023. The company also set a new revenue record of $757M in 2023. Our partnerships with major firms like Raytheon underscore our commitment to delivering top-quality products and services. Ducommun’s backlog has surpassed $1B, reflecting robust future demand and strong shareholder benefits.
The company is focused on its Vision 2027 Strategy, which aims to achieve $950M to $1B in net revenues by 2027, with adjusted EBITDA margins of approximately 18%. This strategy includes consolidating facility footprints, targeting acquisitions, increasing engineered product revenue, and expanding content on key aerospace platforms.
Ducommun emphasizes continuous innovation and operational excellence to meet the evolving needs of its customers. By leveraging its broad capabilities and collaborative approach, the company is well-positioned to sustain growth and deliver substantial value to its shareholders.
Ducommun (NYSE: DCO) reported strong Q4 2024 results with net revenue of $197.3 million, up 2.6% year-over-year. The company achieved record full-year revenue of $787 million and improved gross margins to 23.5% in Q4.
Q4 net income increased 33% to $6.8 million ($0.45 per diluted share), while adjusted EBITDA grew 19% to $27.3 million. The company maintained a robust backlog exceeding $1.0 billion, with military and space backlog up $100 million to $625 million.
Growth was primarily driven by higher military and space revenue (+$5.1M) from missile, electronic warfare, and ground vehicle platforms, along with increased commercial aerospace revenue (+$3.0M) from rotary-wing aircraft and Airbus platforms. The Electronic Systems segment reported flat revenue at $107.0 million, while Structural Systems grew to $90.3 million.
Ducommun (NYSE: DCO) has scheduled its 2024 fourth quarter financial results announcement for February 27, 2025, before market opening. The company will host a conference call at 10:00 a.m. PT (1:00 p.m. ET) on the same day.
Chairman, President, and CEO Stephen G. Oswald, along with Senior VP and CFO Suman Mookerji, will lead the call, which is expected to last approximately 45 minutes including a Q&A session. Interested participants must pre-register through the provided registration link to receive dial-in details.
The event will also be accessible via live webcast, with a replay available on the company's website at www.ducommun.com.
Ducommun (NYSE: DCO) has secured a significant order from Bayern-Chemie GmbH for electronic cable assemblies to be used in Patriot GEM-T rocket motors. The components will be manufactured at Ducommun's engineering and manufacturing facility in Joplin, Missouri. This marks Ducommun's first order with Bayern-Chemie, strengthening its position in the defense sector and supporting its VISION 2027 Strategy.
The company maintains a robust backlog exceeding $1 billion, which is anticipated to generate long-term value for shareholders. This contract reinforces Ducommun's role as a global supplier of engineered products and specialized manufacturing services for the aerospace and defense industry.
Ducommun (NYSE: DCO) has been awarded a Gold 'Partner2Win' medallion at BAE Systems' supplier symposium on November 12, 2024, marking their second consecutive year of recognition. The award acknowledges Ducommun's exceptional performance and commitment to operational excellence in supporting BAE Systems' supply chain with quality and on-time deliveries.
As a global supplier of innovative electronic and structural products for the aerospace and defense industry, Ducommun's contributions have been particularly significant during current global conflicts, helping maintain efficient deliveries to military personnel. The recognition comes through BAE Systems' 'Partner2Win' program, which evaluates suppliers based on operations, quality, and procurement excellence.
Ducommun (NYSE: DCO) announced its participation in the upcoming Goldman Sachs Industrials and Materials Conference on December 4, 2024. Chairman, president and CEO Stephen G. Oswald will deliver a general presentation at 10:00 a.m. Eastern and conduct one-on-one investor meetings throughout the day.
The presentation will be available via live webcast, with replay access provided on Ducommun's website. Founded in 1849, Ducommun delivers innovative products and manufacturing solutions in Electronic Systems and Structural Systems for aerospace, defense, and industrial markets.
Ducommun (NYSE: DCO) has appointed Daniel G. Korte and Daniel L. Boehle as independent board members, effective November 5, 2024. Korte, former Global VP of Aerospace at PPG Industries, brings operational expertise with a track record of driving revenue growth. Boehle, current EVP and CFO of TTM Technologies, contributes 25+ years of financial experience in defense manufacturing. The appointments support the company's VISION 2027 Strategy and board refreshment process. Robert C. Ducommun and Dean M. Flatt will not seek reelection at the 2025 Annual Meeting due to mandatory retirement age policy. The board will temporarily include ten members until returning to eight after the 2025 Annual Meeting.
Ducommun (NYSE: DCO) reported record Q3 2024 results with revenue reaching $201.4 million, up 2.6% year-over-year. The company achieved significant profitability improvements with net income increasing 216% to $10.1 million and gross margin expanding 350 basis points to 26.2%. Adjusted EBITDA grew 9% to $31.9 million, representing 15.8% of revenue.
Growth was driven by strength in military and space segments (+$6.6M) and commercial aerospace (+$2.8M), particularly in radar, electronic warfare, Airbus platforms, and business jets. The Electronic Systems segment revenue increased to $115.4M, while Structural Systems reached $86.0M. The company's performance aligns with its VISION 2027 plan, showing strong momentum despite headwinds from aircraft OEMs.
Ducommun (NYSE: DCO) has scheduled its 2024 third quarter financial results release for November 7, 2024, before market opening. Chairman, president and CEO Stephen G. Oswald and CFO Suman Mookerji will host a conference call at 10:00 a.m. PT (1:00 p.m. ET) to discuss the results.
The call, expected to last approximately 45 minutes including Q&A, requires pre-registration for access. A live webcast will be available, with a replay accessible on the company's website.
Founded in 1849, Ducommun provides innovative products and manufacturing solutions for aerospace, defense, and industrial markets, specializing in Electronic Systems and Structural Systems.
Ducommun Incorporated (NYSE: DCO), the oldest continuously operating company in California, celebrated its 175th anniversary by ringing the Closing Bell at the New York Stock Exchange on October 11, 2024. The company, a global supplier of innovative electronic and structural solutions for the aerospace & defense industry, has seen significant growth under its current management team since 2017.
Key highlights include:
- Record level of revenue achieved in 2023
- Market capitalization more than tripled since 2017
- Chairman, President and CEO Stephen G. Oswald led the bell-ringing ceremony
- Company continues to execute its Vision 2027 strategy
Ducommun remains committed to building shareholder value, contributing to the aerospace and defense industry, and making a positive impact on all stakeholders.
Ducommun Incorporated (NYSE: DCO), a leading manufacturer in aerospace, defense, and industrial markets, has announced its participation in the upcoming RBC Capital Markets Global Industrials Conference on September 24, 2024. The company's chairman, president, and CEO, Stephen G. Oswald, will represent Ducommun at the event.
Institutional investors are encouraged to contact RBC Capital Markets to schedule one-on-one meetings with Ducommun's management. Founded in 1849, Ducommun specializes in Electronic Systems and Structural Systems, producing complex products for commercial aircraft, military and space programs, and industrial applications.
For further information, interested parties can visit the company's website at www.ducommun.com or contact Suman Mookerji, Senior Vice President & Chief Financial Officer, at 657.335.3665.
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