Ducommun Inc. has entered its 175th anniversary year with strong revenue, while Airbus and Boeing production should provide a further boost to the company for 2024.
The aerospace, defense and industrial component maker (NYSE: DCO), among the oldest businesses in the state, had a record year in 2023, ringing up $757 million in revenue, a company high, and a 6.2% increase over the year prior.
Chief Executive Stephen Oswald said the company is continuing top-line growth “led once again by a strong commercial aerospace market recovery.”
Ducommun ended the year with a backlog of approximately $994 million, with military and space backlog being a bright spot, up $70 million to $527 million from 2022.
The company defines backlog as potential revenue and is based on customer placed purchase orders and long-term agreements with firm fixed prices and expected delivery dates of 24 months or less.
Airbus, Boeing
“Looking ahead to 2024, the record order bookings and the anticipated growth in production rates at both Boeing and Airbus should provide continued tailwind to our commercial aerospace business,” Oswald said in an earnings report on Feb. 15.
He added: “The significant growth in backlog in our military and space business and our continued success with off-loading initiatives should be a catalyst for growth in our defense business.”
Ducommun was founded as a hardware supply story in 1849 during the California Gold Rush and is the oldest continuously operating business based in California.
