PKE - Earnings call transcript Q2 2025

Thank you, Nice operator. Matt President our on fiscal and Hello. With Farabaugh, This is second board. also investor Brian. our quarter CEO. CFO; conference Mark today call. us to and you 'XX have are Welcome Esquivel, to

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of $XX.X sales, sorry, the QX, said on X we EBITDA. the estimate million. results. QX Quickly, When go we sales about ] QX did profit, XX,XXX our focus million call. during $XX,XXX,XXX just of to $XX.X right-hand say on investor Let's million $X,XXX,XXX to gross our We of quarterly what [ on the column, $X Slide

So EBITDA so little get tail above that we Adjusted ] a million, came came we right that. could within we $XXX.X estimate, in in just [ range.

to please, CGP we to for here. always Let's really a produce comparison, weeks. $XXX,XXX [ the ArianeGroup programs, [ $X.X quickly card We sales are from ablative bad This X, But during partnership it say rate QX talked turn that but point within margins and there was card QX. product of OEM around approximately make and when that ArianeGroup. a couple often. markup, for we the fabric we during purchased parks sales QX. materials it's programs keep ArianeGroup ] a million by material of business quite margins, Slide is good. low then pretty product with some moving engine offer of actually quarterly There for considerations under sell customers, continuing was the missile only with Quite their this results,

were bringing for see depreciation. higher emphasis an the including significant bit it of production all really There ongoing of through, margin. you facility, on there. emphasis Park's comes less Eventually, this, more in One So about equation, like the little are imbalance on new fully a course. expenses QX online expenses low-margin to the of

year but gross and does not depreciation Let's it's obviously EBITDA $X,XXX,XXX This affect just the new profit $X,XXX depreciation. gross with margin, sorry, to impact approximately gross X% definition, margin does there asterisk. just it stop important, -- the facility. but the per related from production affect on expense by

in [ like the would depreciation right QX, always story it, in the telling what effect related margin alone of to gross results just bring ]. the insurance, was all another to the I'm make just think, We sure Was at also EBITDA look XX.X%. XX.X% I included people, maintenance, Let not other park say me you overhead the that at it's facilities, this facility. number? and related if stuff And but EBITDA additional expenses in -- expenses or depreciation quickly XX new XX%, and you above utilities, other

thought These which just are problem. need is the I online this to expenses. to meet the action later an to or that the you carried on coming expenses, new want presentation. bring Additional order a I in facility understand fully required in of planned Juggernaut, the is

our it with the margin And right all intentionally that our plan. facility items until part going ramped it's to to going But need we down of now, facility. because very but nevertheless, that get we're it's So these doing P&L are hold up. or underutilized,

Juggernaut can meet curve. we So power the get the the behind needs note of

well was By X, now, a little total more on number. international Slide customers place Yes, factor, expansion, this talk our of for like so latest impact, $XX,XXX aerospace QX, not dyslexic happy as though, great industry whole a That's supply really QX There release. earnings international wars challenging item earnings reported is right except sorry, you got about and as chain, thing special $XXX,XXX. or damage, no sales us. the not expenses store a QX a especially We shipments are for $XX,XXX, issue. there, in from when shipments. difficult that the the in the on a

sales. storm fiscal Oil operational from $XX,XXX, the on a lines QX. QX throughout no production are fully than other rig So damage impact

in quite remarkable that's last happened remember, of the because storm weeks the X QX. And

They're customers all remarkable, are a names. by of on Industries, very customer Top to XX to miracle, IAI, as do our Gulfstream. the quite for these which is must be operational X, a in let's go they really, Aero Slide and say, for the usual QX quite every top important we for rep system, in produced fully throughout missile Israeli quarter. these the achievement a ] X lines factory alphabetically. I X, people. this Aerospace Rocketdyne, So ours, GXXX involved [ Aerojet effects

to GKN, that Boeing. the relates

we of airplane. their top Kratos BQM-XXXA. used we and just the kind suspect every Defense, represent that So MRAS is it's Internet. the quarter an up And [ one actually Systems, plan this I Global Quite chose XXX XXXX not your time that a to ] select usual Aerostructure think. yes, aircraft is the them. plant's of talk we engine River on interesting, look Middle they're X, Bombardier

Let's segment, What's and Aerospace in year-to-date, revenues particularly depends the difference very the that like pie make not almost our you go it and on to Tier is, say ] looks by much is estimated 'XX aerospace in it, 'XX 'XX don't commercial X on know jeopardy, to when I chart, market mean, very, might at [ very was really I the was chart. big 'XX, Slide it. how me interesting similar. But X, look 'XX, part

rocket And be Per every Let's that we This chart, Force. this Air She Head for consider customer, Clark, clearly first nozzle, us. love not on rate a even huge drones, with they David Alaina we to Alaina is interesting to is for miss the supply X. niche go on those the starts Slide but military, his customer, X the and programs markets months, helmets Customer the niche. Service is The of comes the up to we quarter. us, but cool for a materials. programs Chris slide for little pie does slide. make that

SM-X, That's that's structure. kitting it. nice. missiles, which for part not Canisters And do ablative case, the then MKXXX SM-X, there this can't say MkXX ablatives. for I got was warhead we of is ESS And anything the for think. In it's the about them, the hypersonic also system. one actually We We Raytheon more

this with we System MKXX fully actually Vertical Launch produce that quarter. On that's our the parts like missiles was Alaina on the It seems materials. focused

she must a So of lot on guess. drains on missiles, have I

So every on let's quarter. Jet slide, Programs, Slide -- you go go Aerospace we Engine give you, XX. thank to another to let's GE

to complain much. too in investors about things quarter. have new some You understand every are There that overthink dial we

a MRAS, to We subinvest actually try too. slide engineering here production we aerospace quarter, have them, from [ a MRAS, in requirements this a all with LTA that. company. include a strike factory which in pricing aerospace, contract large built be redundant is every to GE that's ] for firm Singapore yes, balance and We We fair XXXX to

going what's materials [indiscernible]. So quality here for the on composite source sole for with for cells

you GE On know they're all these engine programs. programs,

that? The a sub-GE the originally, aerospace. was into we entered MRAS that is LTA is why So when reason

got that then we've at continue And but Engineering, ST these subsequent to all MRAS ] these point. aerospace we programs. programs JSOL to So that, on [

go to about let's So not the to us any have go through on -- going you and programs. please. know, it, let I'm questions Do

now every Aerospace, we're LTA products just appropriate. asked X.X% GE I LTA. said, investor approximate price for a increase want MRAS/Park provides like by of continuing it's of XX, don't the say, X, January about an presentation and where to but been well, I've 'XX the with effective you weighted saying lie, covered kind lot Slide average

we forget that Park don't that Composite every one cover time. cover we Materials,

Case Let's Park received Containment for for and composite with program. GEXX go other a Boeing the materials. produced AFP to XXXX for for aircraft. this Wrap PO parks, Fan $X.X recently That's the last million approximately one, engines

of coming customer We're to clearly PO slowed more to So terms there's or for units. program talk to our not is when in ramping rack this order more. a large receive going lot expect us numbers, case this but

now program ramp for really be included just with It's Park development. kind is expect to So are program. this our up. materials of to in

into expectation this LTA, the because is LTA I'll the the the , program program in the in the life not second. of they're a So came which agreement, after discuss GEXX just but

Slide XX.

meant LTA right really through bond. or development watch this trying it's as from of went time. joint MRAS/Park and of into go this, to agreement as just X development was we because a the reasons soon include metal time develop outstanding then a and qualification. composite done, the So This but one effort is to to to bind, is GE is is Park with MRAS outstanding lot these

go go because process needs qualification so film really programs. proprietary very MRAS risk the is MRAS We Why of not through and certification selective with qualification product a special So X their that's with progress. and X, a in through -- this a to customers then process. forms wonderful adhesive on

on that get certified a So metal MRAS the first program use to bonds. not does intends

spent on we're qualified We of team a why a They and STE, of, of under park market MRAS guess, bond a that's of it's agreement come at later, negotiation spent couple ago. days So of I'll requested to couple days. MRAS. Life of right? the with X metal I working point. weeks not agreement agreement a MRS people couple by this and program

negotiation. So it's under

So finally it. on some made we progress

mind, do requested They being happy in We're we for they it. keep is to want, STE. a just good reason. what are MRAS But requested and they this a ones the day

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underlying and with Slide family for now [indiscernible] programs more backlog month a these XX, XX Aerospace to aircraft on Airbus GE it's airplanes. then AXXXneo X,XXX AXXXneo has so up a is -- to go huge variants aircraft AXXXneo different XX. deliveries Continuing of -- per all little -- use this Let's aircraft has many unbelievable in a been includes maintaining of airplanes. of that had number Airbus on achieve than of been off. 'XX. intent rate

go Let's Slide to XX.

little of deliveries here just history about aircraft. AXXXneo is a this the prior day the So years over

that basically that, in peak tracking year, year, annualize You it's little for improvement pandemic, can to kind got last we We hoping pre-pandemic aircraft about fell the and little that don't see. numbers But last to a can compared able of a month, back of happened of what compared it a that 'XX not that's year, airplanes XXX deliveries as happened kind some And XX don't per you September, because they about is would we're XXX Last year-to-date. funny in see year-to-date from industry year. to through lot reason work XXX, to show 'XX to XXX. disappointing. saying quarter. last were was that the XXX of be deliveries which bit last off.

especially XX. Then highlighted pushout. as the XX delivery they is globally, for out engine chain Airbus 'XX on issues goal a Airbus over rate announce supply issues little issues, of from Let's 'XX, family Slide its reason to achieving 'XX, availability not aircraft the surprisingly, go so again, key supply June a chain on monthly to pushing 'XX

about at X what we're ago, remember all this, great. funny they're just engine an year It's Airbus do is company, it everything a is clear you with little a engines. the or not issue, over It's

roll I are engines. supply in what out. engines now in the know to issues of back the and but the we're the for that, terms make maybe Now what engines, castings but front forging of main center super it's That's engines. Supposedly chain problem. don't

say, say they're that? XXX not, but sorry with XX based upon Well, -- backlog, What do ] now, to X,XXX Why Clearly, many maybe [indiscernible] was already to how Well, order there month XX -- to number I would which that that problem sell we back, is are sorry. what rate. so huge -- go now. That's is XX be Airbus no, let's [ wants do airplanes let's there, got many the How in you Airbus at many at per years the XX,XXX year. orders? say how per more airplanes. is are

airplane, That's XX not down order is an airplanes. road. what, you delivery your conduce So for years a the selling

which lot, They lot So is XX a that's enter do. allow next you still will to the more the a quite brings it which to one airplane us sell year, wants not what push but reasons up airplanes. an it Airbus XX, sell of you to want XXX lead year want to get per airplanes, down they and to time more it

these much anyway, We 'XX? We're certainly to for whether that per the XX the is Park get that I be orders they we'll more its XX to be They'll ramp approved timing very sure And those in key be and will the be all sales everybody's think We achieved one. is ready? AXXX -- incredible that goal will. need matters you or So Park. achieve will to we 'XX need will, be of ready. is month? thing really maybe it and to will orders, And filled. number we rate, sales it take for need just sure, we we believe not for will deliveries think they Number anybody's don't engines what sure not of believe just 'XX. achieve will they're the ready two, be. aircraft. on they goal Can there

engine lots ] engines approved Whitney CFM especially We a engine, pro the on. engine, program. the cover AXXXneo in in credit PWXXXXG Then LEAP-XA. is that still about here. lots GTF that issues, program, Pratt the durability spoke That's not [indiscernible] there's There's we're CFM on [ just the for and we'll

last it's XX%. well So CFM a not don't I but XX.X%. be the orders that is let's market don't but been XX%, nice sustainable, September but market range XX% share. last at around think see, quarter according remember, moved addition to new XX%, That's share, I know, XX%. may it I maybe to It's aforementioned LEAP-XA's up 'XX, quarter, was least over

Park? market delivery that you the per here. share into the it what AXXX XX, ] at At what aircraft will month [ of Slide XX translates an it engines XX.X% year. is X,XXX LEAP-XA rate per Well, go What's Park idea give worth of the is just

LEAP-XA of So engines. of firm, numbers. is engine this currently, orders. one these LEAP lot huge a X,XXX firm just That's

to One it of you Well, go get those owners XX, tells work Park. firm what I to mean, we engine. our Slide

about frame. engines But it's produced billion, 'XX going we're Those whether to price billion. not, to confident and conceptually sold. lot will 'XX, quite I our revenues matter after think a account, continue does that that program. we're And time we And increases 'XX Those of to does those have it Slide engines going Park. will. going And take into a are it that just you be not are think it's there which are that to are really $X.XX about we're and to be $X.XX XX during be engines assume -- whether assumes sold. of us lifetime that we

at thinking. what I the they're $XX So not selling people ], I'm [ think stock sure

asset July, the And of type line open XX. in news. nice equivalent received to certification Slide AXXXXLR. really one okay, in LEAP-XA ]. variants go is paired Airbus, engine and the asset AXXXXLR Let's XLR additional its by That's that's GFA the July, the good. on to production here's [ Airbus --

Iberia AXXXXLR [indiscernible] and delivery scheduled to program, for important flight for first The is Park. program an to month on Airbus according this

Let's go on Slide XX.

Okay.

against Comac to the developed same I engine. of to Now engines LEAP a go another single-aisle of electric It's the Comac. That's for the AXXX C a airplane maybe kind stands and know, Comac, funnel. at and That's variation don't XXX that compete the LEAP-XC. let's Comac in has XXX.

XXX place between year money of lines. production They achieve [ are of Comac credible. aircraft think in production ] that's a million to rate I investing huge a -- amounts

getting lines all we aircraft, China, I XXX X hours. delivered Air customer X,XXX very for lots and think these orders report assembly China of upside of believe designs an XXX important and to -- now our but we airplanes Comac with believes opportunity. can They've out it's over now XX,XXX program Southern, flying Chinese has important for China for all Eastern Park. have on over what so is This clearly airlines. outside -- and program they've see far, though. We'll happens, is a logged flight China,

That's XX, go Slide fleet rather, Let's grounded attachment XXX,XXX engines, of after pretty engines. for In AXXX LEAP-XA They're XXXX Boeing XX, a With GEXX they the the to the pounds. perspective, August talk XXXX why continues remains engines those a achieved aircraft about with XXX,XXX test issue, flight grounded important. to These Boeing a while fleet record for thrust. detecting engine XX,XXX engine test about evaluate. pounds are pounds. certified

lots and engines big of big, big, power. So

in Boeing October absorbing according of 'XX to the of stoppage. first or these delivery because ounce says out for work XX, target development XXX orders pushing an Boeing 'XX to flight XXXX they is its had challenges test Boeing data, pause are airplanes.

of it's a I setback, very -- a airplane. mean, clean but little is this thing a is bit the So sheet

after this people the very, XX,XXX problems and XXX problem. on with detected the airplane attachment that feet it. It's during a is that flying happened certification to not will top like not engine it's very this important So development phase have

Boeing. not program -- having important we move time now, Obviously, for really things but hope they're better. We that a a to best and the for Park. is Boeing finds bad this wishes ahead make just So

here this. for [indiscernible] forecast to in on sales history trend program of right here, QX. go We Pretty everything cover change quickly provided million for Slide XX. is fiscal $X.X context, QX, much Let's bottom 'XX the estimates. million $X.X can in

million, I range. to think our the QX $X.XX forecast than that, to estimate for was of little is our kind forecast in $X And million our a lower agree. but that's

year, to quarter. We $XX For forecast million. $XX last the provided million that

it We in. with sticking are

Okay.

Let's go and Park's history forecast on to XX, performance Slide financial estimates.

Most provided the provided. $XX.X that had of it is $X.X context. 'XX of Fiscal million most and number, you again, is the our already EBITDA. QX, here data history So million, for

Our million $XX.X $X set in forecast for footnote the supply EBITDA. QX, $XX.X next to Note the sales, to million risk that in even million $X.X to and limitations. subject million slide. further chain We'll

So million, is we last the slide the historical not slide million ranges, pretty estimates estimates. Everything year. you $XX let's provided EBITDA, forecast Slide $XX XX. sales, to million go exactly $XX changing estimates last is $XX ForEx big This sorry, million a and We're the quarter. -- this on is to presented than for forecast quarter. what

it. I'm changing So not

look important affecting supply limitations industry. thing, chain the aerospace at But

stop right really place not So second. not now, in industry happy to aerospace fun. I is a want for The so much

excited orders For irrational order every would of the perspective, -- airlines the on I depend person Everybody lots wonder Last engines is about big and the are exuberance, the hindsight about engines exuberance that. maybe ] year bowl was shows year. European sold. very being ones the taken, that all wonderful. all [ Paris,

nice. That's Okay.

kind glom sarcastic one forward that been coming chain, guess, everything of little to chain, chain. chain, a out fast -- we Farnborough, different supply The toll, was comment, because supply what that supply supply look bit you What's can't I this year. is I of different it how was can make? Farnborough that's mood, you -- it, has supply problem cares Obviously, who Then chain, if that interesting, to at the saw but you many can difference the way. I mood. how sarcastic, was airplanes make engines, recent take you wonder of guess, Very

a suit. fine. deja kind don't Supply chain is have to solved. clearly then know fine. And it, they times the never how just vu contagious. Why thinking a okay, One But quarters. is maybe not a over chain they be supply little about over in have the impact go it's issues was industry. X, My again, psychological guess many X going not are through is is back we're that? and thing, personsays gone solved, As I issues upon we funny we resolved. thing. these were last It heard They have away almost of everything wishful an wishful

that keep risks we in risk So forecasts. key that the XX-K, supply a chain that have you for just in these mind the these put but forecasts all issues with

bottom we Juggernaut, not for that's holding of are also a up our that's thing and -- ramping the or and back but So not course, line top just cost temporary line.

to little a longer. you may here Let's General can. hustle XX. so this Try in be we're I updates, go if park little bit covering on presentation, taking just guess Slide lot to a a it bit,

to project, take to for an equipment we with trials, X years We'll Solution your and years. that? qualify we additional install plan design doing are to installed Why equipment customers production and the controlled specify treated. of the approximately solution conduct poach X

quite our the opportunities concerned. going we're to and at that we the concerned look run we on capacity. that programs at look we're opportunities have, We We we're So have. the we're

it's X-year -- will use This wait going new I something the a have in be we years. for the This We need that to placed is can't we this The the told budget think. a because in new now for million. term, area do is lounge we're aside and line. for was where the set $X.X Remember, there Well, to to product. is decided frame. you factory. big about go. We to time a that. move project We're screwed, So do we

to is these support manufacturing each, part and with equipment purchase done. them updates. $X.X partner of we're This They're programs. OEM to just line suppliers, they quite do -- related. partner it's items be Major -- to be want so coach all as negotiating additional essential has we to these million because an this. OEM bit now the needed It item, is are critical Another to but a agreement, in XX-XX, plan this partners, programs, larger and

is the Just a programs. essential military lot for

and $X about talk bit money little sorry, an for to 'XX, us qualified program in a is larger that because have 'XX. the program probably to later for this potentially expected that heard of million is as can't and in for a the about missile Initial Park defense towards from want essential sure. -- accomplishment about we ramp -- to terms make next you can't expected investment potentially way. but to high-profile just factory total we talking we're well need program. I more We is this is we get recently for -- -- next year program. So important the that This on you give Parkers program. Park revenue program, missile cash details an

what stop technology. want the So into for potential that's for only to recently currently for I hear. I you. opportunities Park, Park would us missile but to to that's next hypersonic sharing that's But I want certainties. licensee important is to really because these agreement need don't standard you wait Park the to know -- not thing conducting for million. different, just not investment with significant locked, programs. a major of And if this opportunity the understand be these entered for manufacturing item things want about Park. here I to think underlying make We are with OEM technology $X significant. for we that approximately want trials, a We're license just Park

well, it happen. and couple my yes, not we may guarantee to important, about may it a didn't that go, happen. serious. we is wasn't seems of complained about, it it's shareholder didn't of it's So years, point talked happen, Well, program happen. some about a That talked this because A the going

So in mind just right. keep that

Slide Please, XX.

JV, LTA, or this LTA. year GE under progress X products This use aerospace this is not is adhesives -- be the for way, significant to facility. is major calendar 'XX, got necessarily we'll the Park and is Potential actually week the there's separate LTA, in part to of is X in not aerospace the is is This the see. MS you discussions separate support 'XX with in-person [ $X progress. those from company industry, incremental to which JV, incremental believe revenue these numerous ] additional that by million. revenue. New We've our aerospace negotiations for I LTA, related a capital next And meetings. adhesive and investment JV may the

Another potential manufacture, industrial of with [ parts a JV ] major marketing Asia. Asian deposit to conglomerate in more certain products related material sale

So a of now, and these do This capital over and team bit. little OEM a we right They slow quite We're we've Asia surely it trying discussions and progress to already. is have is contribution a in part. had down number negotiations could definitely meetings This involve significant aggressive. want to this.

that actually XX. Slide So it's good happens -- I think, possibility on a maybe

Supplier just scores, to presentation, many things MRAS topic, trying maybe scores. MRAS Supplier sorry. an different these in can this was but I'm you update. see cover Scorecard Totally one Park still too Scorecard.

get don't to these achieved these other told times and Are I mistake, ever, suppliers. would should so. But is We're so. think over I it was really supplier have that XX. scores item be MRAS What been a think first told suppliers I've don't that XXX numerous happy why MRAS typical don't scores. No, by their We're significance? get scores The actually most suppliers told mean? XXX. them has XXs. What that these been

a kind happen? thing room told. what boiler MRAS such does So Park theme a appreciated achieve an for for accomplishment. This that Park sure This it like a supplier I'm is or is special thing? It's Park. to how room That's And a over XXX. best a it whether company How a board fully is is special similar with special situation relationship not of this. I'm it's have now this

and implement, to become love more these in That's we're what we that's thing. to how of achieve really very supplier. thing. supplier decade That's the strategy strategy, scores. customers order on employees. So us Park see, our That's their how it's best culture room boiler anyway, their we depends that best told having a It

example, if mean, issue sorry but going Moon, know people but of have not time, were John you what that time. shipped. until people that. doesn't not it, not nice, I And that. be going the to love as to kind example. He's anywhere does leave If very truck told the And your need would is yes, little he's It rest never mean, have a dedicated. we you This has to to to I take is -- So a want implement matter of like house, we just strategy that I'm dock. the you, plant. something customers The that the left order anywhere. dedication. but are you you in

go different let's on a We Slide to -- now XX. this got investors. recent about topic. questions So from is Questions

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So competing What questions section thought it would Adhesive not a to call it we investors new be just we products? we've to have previously. product advantages I of questions Film line, that want know that hold Aeroadhere. does if we you interesting have here us continue I'll Aeroadhere our from about the but some include over this, with received

equivalent, MRAS. programs. to have better, with lot it's remember, is fine-tuning When is customer then a than is we With their equivalency for want we incorporating not joint aero better. industry a and Well, equivalency into lot a going of a generally did more better speaking, developed their looks a Adhesive, words, much because we project it's But more little that really such difficulty the In Film with if needs. good development if not thing. of strange. tweaking, other It for GE

selling you, more they're selling equivalent how the then from Why just park park, than buy responsiveness, it would Park? a park. flexibility, If are because itself, we a customer we're product We're it urgent. selling buying, a

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product manufacture know, structures. product [ sort what Several structure ] sure lot broaden of margin. that. strategy to investors. is Margins because line a we require it use here. will at to which adhesive we're range lower revenue our aerospace, these are out, That's But they composite and really make strategy aero average structures. customers or of The to of Park's we adhesives in make than a Well, customers production of structures. be aerospace, though, to a also not question we're quite higher sums for composite we least Higher, sure. to the This targeting material we is revenues component of love from the years offer why composite is

intends on ramps reference, about per Just AXXX year. airplanes the first program month. That's that's program get our The ] the asking files program for that to and XG $X million is MRAS we're per on certified revenues. [ to

opportunities We've not lots with obviously, -- got but and MRAS as let's So other it. on, of that's just other not well. companies

a into What is you -- Yes, status asked quite know initiated the let JV discussed take us a that like guess. larger, now, a [ project, in the actually straightforward. strategy. discuss elegant manufacturing aerospace more we recessed time project investor is customer questions. JV, presentation a It's our is initiative it's it This Power bit project? a With very QX that composite during technology, take own QX large ] presentation. last a be but about presentation? morphed a potentially and strategy? year. New an it? structures QX? straightforward to certainly wasn't not It's a have to strategy, with larger major What upcoming we new manufacturing X an minutes XX which go Slide to to probably our investor the Why into Sorry, want egg our strategy in an like it a strategy, if Somebody have not What call I our X a We What companies strategy. going it, strategy? projects. about

over it's So to nothing going but have go we we you surprise you, like. tell you which to should

Park's an That purchase $XX.XX total of automation, Board topic, shares. million shares Slide of average X.X XX, XX. authorized we we buyback announced authorization of our a 'XX. May little price XXX,XXX purchased this at Under $X.X Different cost million. on

was spending [ July black activity this XX, real the We on significance spending authorization lifted. some of the $X,XXX some cost July highlights, though of I since $X.XXX buyback said, purchased on like now. XX, total this. XXX,XXX we're to real [ ended ], million, average of blackout at price In 'XX stock, QX the So recent the money money ] we're

stock rather do that? Why our do the it's stock, price know, of to -- see was We have inside use too the when -- we we think what maybe. How But much not preference our more have. we choice take we buy we stupid, we'll opportunities have prices, that? -- do cash to ridiculous. don't It's and to the stupid, I ridiculous really don't we we'd buy feel a we all

buyback our That's going. program. keep let's So

million We've XX share Slide XX. or history, years 'XX. fiscal per dividend consecutive $XX.XX $XXX Credible dividends. since of paid cash

So thing here that a a anyway. of concept little a developing bit we're

November X have that's XXXX. we on, That's paid So done some on dividend a X, November height. regular payable

million point. a is to So dividend about about fiscal the next Board I X, and And that's there's And sorry Park's what the 'XX. another And February that. we'll this planned regular typo, sorry, noticed $XXX.X that paying at January year. by just have looks be that's paid X, XXXX, like it about declared then within typo,

week think to for paid going Somebody mistake make these I somebody's mistakes. going to is that's get on this not because mistakes. Unfortunately,

about that. sorry So

'XX dividends look is, rather, concept is by this of year, share and since also the per $XX.XX But highlighted you 'XX. fiscal language, year, end million $XXX.X during but can at the the fiscal and

that's 'XX, 'XX, math, the years. XX Do

math. per XX, million million $XX.X do $XXX.X To that's buy if year. divide years, million -- XX the to you So $XXX.X years sorry, by want that's to sorry, XX

paid divide the share, you're dividends $XX.XX the going beginning of since since 'XX. -- to Just year $X.XX XX, to FYI, that's pace 'XX of average by per on at per

our balance sheet. go on XX, Slide to Let's

We have no talked long-term debt, cash. so that. [ just We ] $XX million about of

transition of about $X.X form in of million more June payment 'XX. our X have Thinking taxes cash. We

or known in $X.X payment June. So known likely like of that's expenditures tax million. that some not That's cash

[ been in Share already the that's fiscal pay buyback in quarter. that. spent. current You have $X.X That to 'XX QX ] in million, fiscal 'XX

So item. that's known a

$X.X million, the talking Solution Treater that's $X and partnership, about estimate, we're OEM an that's to about. what contribution million project, approximately

million of minus million. round us gives $XX million, that to So $XX $XX million, a $XX so number

a if million, we are $XX which already discussed go that think items So that items, Slide most a of listed the in we these to already lot presentation we that as discussed of When lot are about for part. this include we've doesn't we won't other XX. things well, iterate here

happen, And will won't. some some things of these

started additional you much you production, plant how that We production new and things might divestitures reminder started with spent the and also other have when be have qualification. time actually and likely trials We realize needed.

the investments be required in there So might quite estimates. some plant, additional

let's about need think quarters, we And [indiscernible] our cash. outlook for that we programs do X what We the have Engine don't we we'll We've the in on Juggernaut. [indiscernible] to we XX, try Slide to Financial so think to Jet it. Aerospace cash? to unlimited last think for So covered through go and rush this Juggernaut. Park

We what's ready. sure. be stopped. better timing, coming in, it's not we're But the be So can't it

unfortunately, change Slide to is program. a The XX. here, on Going only GEXX

we that's number. upon customer. our based more do GE -- input, We've to rate any more it's from but not And up how we're detailed inputs that. provide Boeing that as make disclose have heard it higher and we we based specific for So per year, have to to us airplanes specific because from moved not customer. That's to information many up going to not as we said, plan which on our rates, relates you

'XX. sales. So GE we number Aerospace High-level estimated with the Conceptual next to go taking the a slide math, programs XX. slides, incremental The 'til of sales attracting prior baseline why next started Corp. Financial don't Park Outlook. on from 'XX We the year the

sales, non-GE was million. sales $XX of million. programs Estimated incremental $XX sorry $XX.X million, I think that --

to tried something million. put here in breaking other different rate. bucket, power sole-source in do and little the X that we just between to on. qualified sales past. We we it to [indiscernible] We're we expect But a down on So it $XX get expected

you contribution, That's $XX.X a in I XX.X%. see As a total EBITDA base additional is discussed footnote, million. sales is opportunities believe that because $XXX.X indicated rate, reasons our go that below of And we're for number incremental new well discussed plant. the which we're to won't contribution million we quite of serve based that's inefficient efficiency in over on. based million. the here. the that from working on on could the I we operating we many here, The before, which $X relates contribution year, past, The believe, The

Thanks the the slide to XX, presentation. listening. walkthrough concludes And those. just read, footnote Slide that we'll the we for

to take this time. we're Operator, happy at questions

Brian Shore	executive
Nick Ripostella	analyst

Park Aerospace (PKE) 15 Oct 242025 Q2 Earnings call transcript