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Air Industries Group Announces Significantly Improved Financial Results for the Three and Nine Months Ended September 30, 2026

AIRI
  • Air Industries Group reported third-quarter net income of $0.19 per share for the three months ended September 30, 2026.
  • Net sales for the third quarter reached $14.6 million, a 41.1% increase from $10.3 million in the same period in 2025.
  • Third-quarter gross profit rose to $3.7 million, a 61.4% increase, with gross margin expanding 330 basis points to 25.5%.
  • Operating income for the third quarter was $1.3 million, a 311% increase compared to $316,000 in 2025.
  • Pro-forma third-quarter net income excluding merger costs & stock compensation was $1.5 million ($0.31 per share) compared to $108,000 ($0.03 per share) in 2025.
  • Adjusted EBITDA for the three months ended September 30, 2026, increased 112.0% to $2,684,000 from $1,266,000 in 2025.
  • Nine-month net sales totaled $38.2 million, an 8.7% increase from $35.1 million in the same period in 2025.
  • Nine-month gross profit increased 38.3% to $8.8 million, with gross margin rising 490 basis points to 23.0%.
  • Nine-month operating income improved to $368,000 from a net loss of $422,000 in the prior year period.
  • Nine-month net loss narrowed to $902,000 from $1.5 million in 2025, though diluted net loss per share remained negative at $0.19.
  • Pro-forma nine-month net income excluding one-time expenses was $1.7 million ($0.35 per share) compared to a net loss of $710,000 in 2025.
  • Nine-month Adjusted EBITDA increased 104.4% to $5,426,000 from $2,655,000 in 2025.
  • Management cited improved gross profit & margin due to stable shipping cadences & minimized production disruptions.
  • The company expects continued performance improvement in the fourth quarter & 2027, citing October 2026 net sales of approximately $5.6 million.
  • The company holds a firm customer order backlog totaling $95.4 million to support forecast sales for the remainder of 2026 & 2027.
  • Operating expenses for the nine-month period included $2.6 million in stock compensation & merger-related costs associated with the pending acquisition of Tenax Aerospace Acquisition, LLC.