Earnings Releases·Nov 12, 2026, 7:07 AM ET

Applied Aerospace & Defense — Third Quarter 2026 Earnings Summary

Consolidated revenue reached $182.1 million for the quarter, a 48.6% year-over-year increase, while net income surged to $30.6 million ($0.18 EPS) from $2.7 million ($0.03 EPS) in the prior year period.
Management updated full-year 2026 guidance to $660–$670 million in revenue and $137–$142 million in non-GAAP Adjusted EBITDA, driven by double-digit growth across all core segments and a contract backlog of $1.26 billion.
Strategic capital activity included a 2026 IPO generating $635.6 million in proceeds and $305.8 million in acquisition payments, resulting in a debt reduction from $634.0 million to $404.5 million despite a negative free cash flow of $(113.2) million for the nine months.
Future outlook remains positive with demand supported by missile rearmament and defense budget investments, though risks persist regarding government spending shifts, cost control on contracts, and integration of recent acquisitions.