Park Aerospace sees 2Q adj EBITDA $4.3M to $5.1M

Park Aerospace Corp (NYSE:PKE) reported its second quarter results for the 2024 fiscal year, which ended on August 27, 2023. The company’s adjusted EBITDA for the quarter was $2,669,000, slightly lower than the $2,709,000 reported for Q2 2023. However, the company’s adjusted EBITDA for the first six months of the current fiscal year was $5,980,000, an increase from $5,513,000 for the same period in the previous fiscal year.

Despite a decline in net sales for Q2 2024 to $12,481,000 from $13,875,000 in Q2 2023 and $15,551,000 in Q1 2024, the company maintained a relatively stable earnings per share performance. Basic and diluted earnings per share for Q2 2024 were $0.09, consistent with the $0.09 reported for Q2 2023.

As of August 27, 2023, the company reported total assets of $128,619,000 and total liabilities of $15,907,000, reflecting a significant reduction in debt compared to earlier in the year. Park Aerospace remains focused on delivering high-quality composite materials for the aerospace industry amid evolving market conditions.