10-K · May 8, 2026
Ducommun's 2025 10-K reveals a challenging year with a net revenue decline to $824.8 million from the previous year's $786.4 million. The company incurred a net loss of $37.4 million, primarily due to significant…
Earnings analysis · 10-Q
DCO earnings analysis
Filed May 12, 2026 · Our reading of the company's report
The latest report
Ducommun Incorporated reported strong first quarter results for 2026, with revenue of $209 million, surpassing estimates and showing an increase from the prior period. However, diluted EPS came in at $0.64, below the…
Read full summary
Ducommun Incorporated reported strong first quarter results for 2026, with revenue of $209 million, surpassing estimates and showing an increase from the prior period. However, diluted EPS came in at $0.64, below the expected $0.72, but represented a significant improvement year-over-year, reflecting a solid performance by both Electronic and Structural Systems segments amidst ongoing challenges in the aerospace sector.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.64
- Segment
- Electronic Systems
- Segment
- Structural Systems
What stood out
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Record Q1 Revenue Achieved
Net revenues reached $209 million for Q1 2026, up from $192.5 million in Q1 2025, marking a 8.4% increase year-over-year.
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Significant EPS Improvement
Diluted EPS increased from $0.09 in Q1 2025 to $0.64 in Q1 2026, showing substantial year-over-year growth.
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Enhanced Gross Margin
Gross margin improved to 26.9% in Q1 2026 from 26.2% in Q1 2025, reflecting better cost management.
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Strong Segment Growth
Electronic Systems revenue rose 7.8% to $117.6 million and Structural Systems revenue grew 9.6% to $91.4 million compared to Q1 2025.
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Cash Flow Recovery
Operating cash flow surged to $11.2 million in Q1 2026 from $0.8 million in Q1 2025, indicating stronger operational efficiency.
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Improved EBITDA Performance
Adjusted EBITDA increased to $35.4 million, representing 16.9% of net revenues, up from 15.4% in Q1 2025.
What to watch
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Increased Interest Expense Burden
Interest expense rose to $4.0 million from $3.3 million year-over-year, partly due to higher debt levels.
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Supply Chain Challenges Persist
Ongoing supply chain disruptions continued to impact production and order fulfillment.
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Dependency on Major Customers
Approximately 63.4% of revenues arise from top customers, increasing risk from potential contract fluctuations.
Management's outlook
Management maintains confidence in strategic goals but did not provide specific revenue or EPS guidance for future periods.
Earlier filings 4
10-K · February 26, 2026
Ducommun’s 10-K emphasizes a strategy of moving up the value chain via engineered, value‑added Electronic Systems and Structural Systems offerings and acquisitive growth (e.g., BLR). 2025 showed top‑line strength…
10-Q · November 6, 2025
Ducommun reported third-quarter revenue of $212.6M (up from $201.4M a year ago) but recorded a large, quarter‑end litigation charge that drove an operating loss of $80.05M and a net loss of $64.45M (diluted EPS…
10-Q · November 7, 2024
Ducommun reported quarterly revenue of $201,412 (in thousands) for the three months ended September 28, 2024, up $5,162 vs. the prior year quarter, with gross profit improving to $52,676 and operating income to $15,266.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.