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Park Aerospace Corp (symbol: PKE) is a globally recognized leader in advanced materials, specializing in the development and manufacture of high-technology digital and RF/microwave printed circuit materials. These materials are essential for the telecommunications and internet infrastructure, along with high-end computing markets. The company also excels in producing advanced composite materials, parts, and assemblies specifically for the aerospace industry.
Park Aerospace Corp's core competencies lie in polymer chemistry formulation and coating technology. Their manufacturing capabilities are spread across various locations including Singapore, France, Kansas, Arizona, and California. The company maintains R&D facilities in Arizona, Kansas, and Singapore, ensuring continuous innovation and advancement in their specialized fields.
The company's sole operating segment is Aerospace, where it designs, develops, and manufactures engineered advanced composite materials, structures, and assemblies. This includes low-volume and prototype tooling for aerospace applications. Park Aerospace Corp offers a range of products such as Advanced Composite Prepregs for Aircraft Structures and Interiors, Sigma Strut, and Alpha Strut.
Geographically, Park Aerospace Corp generates the majority of its revenue from North America, with notable business operations in Asia and Europe.
Park Aerospace Corp. (NYSE-PKE) announced key milestones regarding its recent facility expansion in Newton, Kansas. On April 5, 2023, the largest customer approved the expansion for all aircraft programs, with the first production run taking place on April 19, 2023. This $20 million expansion, announced in December 2018, has nearly doubled the facility size, adding approximately 90,000 square feet of manufacturing, laboratory, and office space. CEO Brian Shore acknowledged the challenges posed by the pandemic during construction, praising the efforts of their R&D and engineering teams for stepping up during the qualification phase of the facility. The completion and approval of this redundant facility mark significant progress for Park Aerospace as it continues to support critical aerospace programs.
Park Aerospace Corp. (NYSE-PKE) has announced a Cooperation Agreement with Huffman Prairie Holdings, planning to nominate Shane P. Connor for election as a Director at the upcoming 2023 Annual Shareholders Meeting. Brian Shore, Chairman and CEO, expressed enthusiasm about Connor's nomination, praising his character and principles. Connor is an experienced investor with roles in private and public equity and is a Chartered Financial Analyst. He holds a finance degree from Ohio State University.
Park Aerospace develops and manufactures advanced composite materials for the aerospace sector, serving markets including commercial and military aircraft, drones, and spacecraft. Their products include film adhesives and specialized materials for various aerospace applications. The company's goal is to tackle complex projects that others avoid.
On February 9, 2023, Park Aerospace Corp. (NYSE-PKE) announced a significant update regarding its dividend policies. The Board of Directors approved a 25% increase in the regular quarterly cash dividend from $0.10 to $0.125 per share. Additionally, a special dividend of $1.00 per share was declared, totaling approximately $20.5 million, payable on April 6, 2023. This marks the company’s unwavering commitment to return value to shareholders, having paid around $560 million in cash dividends since 2005. CEO Brian Shore expressed confidence in the sustainability of dividend increases, attributing it to solid performance in key aerospace programs.
Park Aerospace Corp., listed under PKE, will have its CEO, Brian E. Shore, speaking at the 25th Annual Needham Growth Conference on January 12, 2023, at 11:45 a.m. EST. The presentation will be virtual and accessible via a live audio webcast. An archived replay will be available for 90 days post-conference. Presentation materials will also be released on the day of the event at around 10:00 a.m. EST.
Park Aerospace specializes in advanced composite materials for the aerospace industry, contributing to various aircraft and aerospace applications.
Park Aerospace Corp. (NYSE-PKE) reported net sales of $13,867,000 for the third quarter of fiscal year 2023, a slight increase from $13,864,000 in the same quarter last year. Net earnings rose to $2,230,000, up from $1,741,000 year-over-year. Adjusted EBITDA improved to $3,321,000, compared to $2,670,000 in Q3 2022. However, net sales for the nine months were $40,525,000, down from $41,076,000 last year. Basic and diluted earnings per share (EPS) for Q3 were $0.11 versus $0.09 in Q3 2022.
Park Aerospace Corp. (NYSE: PKE) will release its financial results for the third quarter of its 2023 fiscal year on January 5, 2023, before the NYSE opens. A conference call is scheduled at 11:00 a.m. EST the same day to discuss the results and other material information. The call can be accessed by dialing (877) 407-3982 in the U.S. or (201) 493-6780 internationally. A live audio webcast will also be available, along with presentation materials at their website.
The Board of Directors of Park Aerospace Corp. (NYSE - PKE) has announced a quarterly dividend of $0.10 per share, payable on February 3, 2023 to shareholders recorded as of January 4, 2023. This marks the company's 37 consecutive years of uninterrupted dividend payments, totaling approximately $558 million or $27.25 per share since fiscal year 2005. Park Aerospace specializes in advanced composite materials for the aerospace industry, including components for aircraft and rocket motors.
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