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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 Incorporated (NYSE: DCO) announced a new credit facility comprising a $250 million term loan and a $200 million revolving line of credit, effective July 14, 2022. This replaces an existing structure, extinguishing a total of $480 million in previous loans. The new loans have a maturity date of July 2027, with interest rates starting at Term SOFR plus 1.625%. CEO Stephen G. Oswald emphasized the favorable refinancing environment, positioning the company for organic growth and strategic investments. Details are available in the Company's SEC filings.
Ducommun Incorporated (NYSE: DCO) has been recognized as one of the 2022 Best Places to Work in Orange County for the second consecutive year, according to the Orange County Business Journal. The award evaluates employers based on employee feedback and company policies. Stephen G. Oswald, CEO, expressed gratitude to employees for contributing to the company’s positive work culture that reflects its core values of honesty, professionalism, respect, trust, and teamwork. Ducommun provides innovative solutions in the aerospace, defense, and industrial sectors.
Ducommun Incorporated (NYSE: DCO) announced participation in the UBS Global Industrials and Transportation Conference on June 7, 2022. Key executives, including chairman and CEO Stephen G. Oswald and CFO Christopher D. Wampler, will present at 1:00 PM Eastern, followed by one-on-one investor calls. Additional details will be available on the Company’s website, including a copy of the presentation and the webcast link. Ducommun provides innovative manufacturing solutions for aerospace, defense, and industrial markets, specializing in Electronic and Structural Systems.
Ducommun reported a solid start to 2022 with net revenue of $163.5 million, a 4% increase year-over-year, driven by a 50% rise in commercial aerospace sales from Boeing and Airbus. The company achieved a record backlog of $943 million, reflecting strong demand in commercial aerospace. However, the gross profit margin decreased to 19.9% from 21.1% due to an unfavorable product mix. A restructuring initiative was announced, expected to yield $3 million to $4 million in annual savings starting in 2023, incurring $10 million to $14 million in charges over the next year.
Ducommun Incorporated (NYSE: DCO) announced participation in the Wells Fargo Industrials Conference on May 5, 2022. CFO Christopher D. Wampler and VP Suman Mookerji will present at 12:40 p.m. Eastern, followed by one-on-one investor calls throughout the day. Details and presentation materials will be available on their website. Established in 1849, Ducommun specializes in Electronic and Structural Systems, providing innovative products for aerospace, defense, and industrial applications.
Ducommun Incorporated (NYSE: DCO) announced that it will release its 2022 first quarter financial results after market close on May 3, 2022. The call will be led by CEO Stephen G. Oswald and CFO Christopher D. Wampler at 2:00 p.m. PT (5:00 p.m. ET), expected to last approximately 45 minutes. Interested participants can join by calling 844-239-5278 (international 574-990-1017) and using passcode 8291899. The meeting will also be accessible via webcast on the Company’s website.
Ducommun specializes in electronic and structural systems, serving aerospace, defense, and industrial markets.
Ducommun Incorporated (NYSE: DCO) reported its Q4 2021 results, revealing revenue of $164.8 million and a net income of $110.8 million, equating to $9.05 per diluted share. The company achieved a backlog growth to $905 million and completed the acquisition of Magnetic Seal for $69.5 million. A sale-leaseback transaction generated over $110 million in proceeds, enhancing the balance sheet. The gross margin improved to 22.6%, while adjusted EBITDA reached $24.4 million. With anticipated recovery in commercial aerospace, the company positions itself for further growth in 2022.
Ducommun Incorporated (NYSE: DCO) announced it will release its 2021 fourth quarter financial results on February 23, 2022, after market close. CEO Stephen G. Oswald and CFO Christopher D. Wampler will discuss the results in a conference call at 2:00 PM PT (5:00 PM ET). Participants can join the teleconference by calling 844-239-5278, with a passcode of 1660427. The call will also be webcast on the Ducommun website, allowing for a comprehensive review of the company's performance in the aerospace, defense, and industrial markets.
Ducommun Incorporated (NYSE:DCO) has appointed Samara A. Strycker as an independent director, effective December 29, 2021. This addition brings the total board members to eight, with seven being independent. Strycker, who has extensive accounting and operational finance experience in the industrial sector, will serve on the Audit Committee. She is currently the corporate controller and treasurer at Navistar International and previously worked at GE Healthcare and PricewaterhouseCoopers. Her expertise is expected to support Ducommun's long-term growth objectives.
Ducommun Incorporated (NYSE: DCO) completed a sale-leaseback transaction on December 16, 2021, involving its subsidiary, Ducommun Aerostructures, and an industrial property in Carson, California. The property was sold for approximately $143 million, resulting in about $110 million in net after-tax cash proceeds. CEO Stephen G. Oswald noted the high demand for industrial properties in Southern California. Proceeds will be used to pay down debt and seek further strategic acquisitions, enhancing the company's balance sheet.
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