Ducommun Incorporated reported record net revenues of $202.3 million for the second quarter of 2025, marking a 2.7% increase year-over-year. This performance was primarily driven by robust growth in the defense business, which offset continued headwinds in commercial aerospace OEM demand.
The company achieved a record gross margin of 26.6%, expanding 60 basis points year-over-year from 26.0%. Adjusted EBITDA reached an all-time high of $32.4 million, or 16.0% of revenue, an 80 basis point expansion from Q2 2024. Net income for the quarter was $12.6 million, or $0.82 per diluted share, a 63% increase from $7.7 million, or $0.52 per diluted share, in Q2 2024.
Defense segment strength was noted across several missile programs, radar, military rotary-wing aircraft platforms, and a classified program. Electronic Systems segment revenue increased by 8.7% to $110.2 million, while Structural Systems revenue decreased by 3.8% to $92.0 million. The company anticipates greater revenue growth year-over-year in the second half of 2025 as market demand increases, with optimism for Boeing's production recovery.
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