ADI Global and Applied Aerospace report record Q2 revenues

Q2 earnings commercial demand aerospace and defense revenue growth public company debut

ADI Global Distribution Inc. and Applied Aerospace & Defense both reported record second-quarter results in their first earnings calls as standalone public companies.

ADI Global Distribution reported second-quarter revenue of $1.29 billion, a 1% increase year over year. The company noted that resilient demand in commercial markets, including Datacom and commercial security, helped offset weakness in the residential audiovisual sector caused by a soft U.S. housing market. This follows its August spin-off from Resideo.

Applied Aerospace & Defense reported a 47.4% year-over-year revenue increase to $167.3 million. The company saw significant growth in its Space and Launch Systems segment, driven by demand related to SpaceX’s Falcon 9 and Blue Origin’s New Glenn programs. Its contract backlog has grown to over $1.1 billion.

Entities

ADI Global Distribution Inc. · Blue Origin

Sources

ADI Global Distribution Inc. Common Stock Q2 Earnings Call Highlights [www.marketbeat.com]

4 days ago

Applied Aerospace & Defense Q2 Earnings Call Highlights [www.marketbeat.com]

5 days ago