Europe
Park Aerospace Corp’s Form 10-Q Report for Q3 2024
• Park Aerospace Corp, a leading provider of advanced composite materials for aerospace applications, reported significant financial growth and operational resilience in Q3 2024.
• Net sales increased by 23.8% and 13.7% respectively, driven by higher sales to the commercial aerospace and business aircraft markets.
• Gross profit reached $3.8 million for Q3 2024, and $12.7 million for Q3 2024, with gross profit margins of 26.6% and 28.1% respectively.
• Earnings from operations increased by 35.2% and 12.7%, due to higher sales despite higher costs and expenses.
• Net earnings increased by 31.1% for Q3 2024, primarily due to increased sales.
• Basic earnings per share increased by 33.3% for Q3 2024, and diluted earnings per share increased by 33.3% for Q3 2024.
• North America saw the most significant growth in sales, rising to $13.3 million from $10.3 million in the previous year.
• The company continues to focus on advanced composite materials for aerospace applications, including film adhesives and lightning strike protection materials.
• The company anticipates completing all storm-related repairs by Q1 2026 and potential increases in sales due to heightened global defense spending.
