Ducommun posts record Q1 revenue as commercial aerospace surges

Ducommun (NYSE:DCO) reported record revenue for the first quarter of 2026, driven by an 18% jump in its commercial aerospace business and continued expansion across military and space programs.

The Santa Ana, California-based manufacturer generated $209 million in the period, a 9% increase over the previous year.

The company’s profitability metrics showed broad improvement as its "VISION 2027" strategy—aimed at optimizing its product mix—continues to take hold.

Gross margin expanded by 70 basis points to 26.9%, while adjusted EBITDA reached $35.4 million.

This represented an adjusted EBITDA margin of 16.9%, a 150-basis-point improvement compared to the first quarter of 2025.

Net income for the quarter rose to $9.9 million, or $0.64 per diluted share.

On an adjusted basis, which excludes non-recurring items, net income was $11.7 million, or $0.75 per share, surpassing the average analyst estimate.

The company also reported a notable turnaround in liquidity, with operating cash flow improving to $11.2 million, up from a significant cash use in the prior-year period.