Industrials Earnings Report — 2026-09-24 to 2026-11-08

25 most recent Industrials earnings

1. Nov 6, 2026, 4:40 PM ET·HY·Industrials

   Hyster-Yale — Q3 2026 Earnings Summary

   HYSTER-YALE INC

   Consolidated revenue increased 2% QoQ to $827 million, while operating loss narrowed to $9 million (from $18 million in Q2) and adjusted EBITDA turned positive at $6 million (from a $5 million loss). Q4 2026 outlook projects sequential revenue growth, improved margins, and positive lift truck adjusted operating results, with volume and revenue growth expected to continue into 2027. Unit bookings volume surged 45% YoY, marking four consecutive quarters of elevated levels, while net debt decreased $15 million to $485 million and cash from operations improved $10 million to $26 million. Management confirmed a new $100 million cost reduction program targeting maturity by 2029 and emphasized a shift to modular manufacturing to drive efficiency, though 2027 gross profit improvements remain moderated by competitive pressures. Capital allocation remains disciplined with $233 million in unused borrowing capacity and 2026 capital expenditures estimated between $50 million and $60 million.

2. Nov 6, 2026, 8:20 AM ET·TG·Industrials

   Tredegar — Third Quarter 2026 Earnings Summary

   TREDEGAR CORP

   Third quarter 2026 net loss from continuing operations was $(2.8) million ($(0.08) per share), reversing a $7.1 million net income ($0.20 per share) in the same 2025 period; consolidated EBITDA from ongoing operations fell to $4.1 million from $18.1 million year-over-year. Revenue trends diverged by segment: Aluminum Extrusions (Bonnell) sales rose 9.1% to $177.3 million despite an 11.6% volume decline, while High Performance Films sales dropped 8.1% to $23.8 million amid weakened consumer electronics demand. Total debt increased to $49.0 million at September 30, 2026, from $35.1 million at year-end 2025, while cash and equivalents rose to $16.3 million; capital expenditures are projected at $17 million for Bonnell Aluminum and $2 million for High Performance Films for the full year 2026. Management expects benefits from the "One Tredegar" initiative to begin in Q1 2027, though memory chip market pressures and geopolitical disruptions are anticipated to continue affecting customer production and costs through the remainder of 2026.

3. Nov 6, 2026, 7:04 AM ET·FLR·Industrials

   Fluor Corporation — Third Quarter 2026 Earnings Summary

   FLUOR CORP

   Revenue rose 10% year-over-year to $3.7 billion, driven by a 159% surge in Energy Solutions; GAAP net earnings turned to $158 million from a $697 million loss in the prior year, while adjusted EPS increased 13% to $0.77. Total new awards reached a record $10.872 billion (up 234% year-over-year), with backlog growing 21% to $34.305 billion, the highest level recorded this decade. The company affirmed its 2026 adjusted EBITDA guidance of $500 million to $525 million but withheld GAAP earnings guidance due to unpredictability of foreign exchange and other components. Capital return activity included $300 million in share repurchases during the quarter, with $1.1 billion year-to-date, while the company also realized a $73 million pre-tax gain on the sale of its ICA-Fluor interest.

4. Nov 6, 2026, 6:47 AM ET·ATMU·Industrials

   Atmus Filtration Technologies — Third Quarter 2026 Earnings Summary

   ATMUS FILTRATION TECHNOLOGIES INC

   Net sales rose 13.9% year-over-year to $510 million, while net income and adjusted EPS increased to $61 million ($0.74) and $0.77 respectively, driven by the Koch Filter acquisition, favorable volumes, and pricing. The company raised full-year 2026 net sales guidance to $2,010–$2,035 million and adjusted EPS guidance to $2.90–$3.05, with Adjusted EBITDA margin guidance set at 19.75%–20.25%. Capital allocation included a new $300 million share repurchase program authorized on November 4, 2026, replacing the prior authorization, alongside a 9% quarterly dividend increase to $0.06 per share. Long-term debt increased to $948.3 million following the Koch Filter acquisition, which also significantly expanded goodwill and intangible assets, though operating cash flow improved to $98 million.

5. Nov 6, 2026, 6:44 AM ET·TILE·Industrials

   Interface — Third Quarter 2026 Earnings Summary

   INTERFACE INC

   Net sales for Q3 2026 rose 0.6% year-over-year to $366.7 million; Adjusted EPS increased 11.5% to $0.68, while GAAP EPS declined 14.1% to $0.67. Full-year 2026 Net Sales guidance was revised down to $1.440–$1.455 billion (previously $1.455–$1.485 billion) due to softer European conditions, though Adjusted EPS guidance was reaffirmed. Adjusted Gross Profit Margin expanded 103 basis points to 40.6% driven by pricing and efficiencies, partially offset by higher raw material and tariff costs; Total Debt decreased 28.3% to $130.2 million. Global billings grew across Healthcare (up 5%), Education, and Corporate Office segments, with AMS currency-neutral orders up 6.2% and EAAA orders down 6.8%. Full-year Adjusted Gross Profit Margin outlook revised to 40.4%, with Adjusted SG&A and Interest & Other Expenses guidance lowered to $387 million and $14 million, respectively.

6. Nov 5, 2026, 5:00 PM ET·CVV·Industrials

   CVD Equipment Corporation — Third Quarter 2026 Earnings Summary

   CVD EQUIPMENT CORP

   Revenue for the quarter ended September 30, 2026, fell 72.1% year-over-year to $1.6 million, while gross margin contracted to 9.2% from 32.0% in the prior-year quarter. The company reported a net loss from continuing operations of $2.1 million for the quarter, though net income for the nine-month period reached $9.4 million driven by a $14.1 million gain on the SDC divestiture. Strategic direction has shifted to ceasing new system orders, reducing the workforce to align with backlog completion, and pursuing disciplined asset monetization with CBRE engaged to market real estate holdings. The balance sheet remains debt-free with cash and cash equivalents rising to $23.5 million and stockholders' equity increasing to $34.6 million as of September 30, 2026.

7. Nov 5, 2026, 4:57 PM ET·HLIO·Industrials

   Helios Technologies — Third Quarter 2026 Earnings Summary

   HELIOS TECHNOLOGIES INC

   Reported record Q3 2026 net sales of $229.7 million (up 4% YoY, 13% pro-forma) and GAAP diluted EPS of $0.53 (up 71% YoY), driven by pricing actions and strong Electronics segment growth of 10%. Raised full-year 2026 sales guidance to $895–$902 million (company record high) while tightening adjusted EBITDA margin guidance to 20.2–20.4% and adjusted EPS guidance to $3.08–$3.15. Established Q4 2026 sales outlook of $205–$212 million with adjusted EPS guidance of $0.60–$0.67; management expects growth to moderate in Q4 with pricing benefits and Radio Sound synergies expected to fully materialize in 2027. Generated record Q3 operating cash flow of $40 million and free cash flow of $32.5 million, while repurchasing $19 million of common stock and maintaining its 119th consecutive quarterly dividend.

8. Nov 5, 2026, 4:51 PM ET·PANL·Industrials

   Pangaea Logistics Solutions Ltd. — Third Quarter 2026 Earnings Summary

   PANGAEA LOGISTICS SOLUTIONS LTD

   GAAP net income surged to $38.3 million ($0.59/share) and adjusted net income reached $33.6 million ($0.52/share), both up significantly from prior-year levels, while total revenue rose 30% year-over-year to $219.1 million and adjusted EBITDA increased 81.3% to $52.4 million. Time Charter Equivalent (TCE) rates climbed 31% year-over-year to $2,0414 per day, driven by strong demand in minor bulks and industrial cargoes, with the integrated shipping and logistics model delivering record quarterly adjusted EBITDA. Management confirmed the completion of a $134 million debt refinancing shortly after quarter-end at a lower margin, plans to advance fleet renewal and divest older assets, and declared a quarterly cash dividend of $0.10 per share. Terminal and stevedore revenue grew 73% year-over-year following the first full quarter of operations in Tampa Bay, contributing to a net debt-to-trailing twelve-month adjusted EBITDA ratio of 1.4x and $144.9 million in unrestricted cash.

9. Nov 5, 2026, 4:35 PM ET·HY·Industrials

   Hyster-Yale, Inc. — 2024-2026 Historical Performance Summary

   HYSTER-YALE INC

   Consolidated revenue contracted 12.5% YoY to $3,769.3 million in 2025 following growth in prior years, while gross and operating profit margins reversed from 20.8% and 5.7% in 2024 to 16.8% and -0.6% respectively, resulting in a net loss of $60.1 million compared to $142.3 million in net income in 2024. Significant restructuring and impairment charges totaling $38.4 million were recognized in FY 2025, with the Americas segment absorbing the majority of these costs, alongside a rise in total debt to $494.3 million and capital expenditures increasing to $62.5 million. All major geographic segments (Americas, EMEA, JAPIC) and the Bolzoni unit experienced revenue declines in 2025, with EMEA dropping 19.5% and JAPIC remaining flat, contributing to negative returns on equity (-11.4%) and total capital employed (-1.2%). Dividend payments to stockholders increased to $26.7 million in 2025, while net working capital as a percentage of revenue rose to 19.2%, and the former Nuvera segment results are now consolidated within the Americas operating segment.

10. Nov 5, 2026, 4:31 PM ET·CYRX·Industrials

    Cryoport — Third Quarter 2026 Earnings Summary

    CRYOPORT INC

    Total revenue reached $50.2 million in Q3 2026, a 14% year-over-year increase, while the company raised full-year 2026 revenue guidance to $197 million–$199 million. The company reported a net loss of $12.9 million ($0.25 per share) for Q3 2026 compared to $8.9 million in the prior year period, though Adjusted EBITDA turned positive at $1.1 million versus a negative $0.6 million previously. Strategic momentum is supported by a record 788 supported global clinical trials, 23 commercial cell and gene therapies, and two new BLA/MAA filings in Q3, with management anticipating two additional therapy approvals in 2026. The company maintains a strong liquidity position with $393.1 million in cash, equivalents, and short-term investments, despite a widening net loss driven by higher operating costs and a gross margin decline to 47.5%.

11. Nov 5, 2026, 4:29 PM ET·SMR·Industrials

    NuScale Power — Third Quarter 2026 Earnings Summary

    NUSCALE POWER CORP

    Q3 2026 revenue declined to $281,000 from $8.242 million in the prior year period, while the nine-month revenue fell to $921,000 from $29.671 million, largely due to the completion of Fluor's FEED Phase 2 engineering services for the RoPower project in late 2025. Net loss for the three months ended September 30, 2026, narrowed significantly to $45.709 million from $532.646 million in the prior year, with Q3 loss per share improving to $(0.11) from $(1.85); the nine-month net loss decreased to $142.457 million from $600.650 million. The company reported a strong balance sheet with $1.9 billion in cash, cash equivalents, and investments, alongside a reduction in total liabilities to $45.645 million from $298.961 million as of December 31, 2025. Strategic progress includes signing a fabrication agreement with Doosan Enerbility for the upper reactor coolant system, deploying nuclear-specific AI tools, and supporting commercial partner ENTRA1 Energy in its dialogue with the Tennessee Valley Authority. Financing activities provided $985.235 million for the nine-month period, resulting in an increase in Class A common stock outstanding to 410.5 million shares and additional paid-in capital to $2.892 billion.

12. Nov 5, 2026, 4:18 PM ET·ASLE·Industrials

    AerSale — Third Quarter 2026 Earnings Summary

    AERSALE CORP

    Total revenue rose 28.6% year-over-year to $91.6 million, though the company reported a net loss of $15.0 million driven by a $13.4 million non-cash goodwill impairment charge, resulting in an adjusted net loss of $1.1 million and adjusted EBITDA of $8.6 million. Gross margins contracted to 22.5% from 30.2% in the prior year, with TechOps margins specifically declining to 12.5%, while inventory levels remained elevated at $334.1 million and year-to-date operating cash usage totaled $42.7 million. Management projects a significantly stronger fourth quarter driven by a committed $35 million Boeing 737 sale to the U.S. Marshals Service and the delayed closure of additional engine sales previously expected in Q3. Strategic initiatives are showing progress with Asset Management Solutions revenue up 28.9% and Technical Operations revenue up 28.2%, supported by new check line awards and strong demand for AerSafe® kits.

13. Nov 5, 2026, 4:18 PM ET·AXOENT·Industrials

    Axon Enterprise, Inc. — Q3 2026 Earnings Summary

    AXON ENTERPRISE INC

    Total revenue reached $909 million, up 28% year over year, driven by a 43% surge in Software & Services revenue to $437 million; however, non-GAAP free cash flow turned to an outflow of $19 million due to $100 million in strategic inventory investments. Full-year 2026 revenue guidance was lowered to $3.61–$3.63 billion (approx. 30% growth) from prior expectations of 32–34% to exclude three Federal Dedrone deployments totaling $130 million, while Adjusted EBITDA guidance remains $924–$929 million. The company executed its largest single investment to date, committing $1.2 billion to increase its Skydio ownership to 37% and securing an exclusive U.S. and Canada distribution partnership. Software momentum remains strong with AI annual recurring revenue surpassing $100 million and future contracted bookings growing 39% year over year to $15.8 billion, though gross margin compressed to 56.7% due to a higher mix of counter-drone hardware and rising memory costs.

14. Nov 5, 2026, 4:18 PM ET·NL·Industrials

    NLI Holdings, Inc. — Third Quarter 2026 Earnings Summary

    NLI HOLDINGS INC

    NLI reported a turnaround to net income of $12.7 million ($0.26/share) for Q3 2026 from a $7.8 million loss in Q3 2025, and $26.0 million ($0.53/share) for the first nine months of 2026 versus a $6.8 million loss in the prior year period. Kronos contributed significantly to results with Q3 net sales rising 18% to $541.1 million and operating income reversing a $19.2 million loss in 2025 to a $57.9 million profit in 2026; YTD Kronos sales grew 12% to $1.6 billion with operating income of $108.1 million. CompX segment sales increased 10% to $44.0 million in Q3 2026 and 6% to $128.2 million YTD, while segment profit rose to $6.4 million in Q3 from $4.8 million in 2025. Financial results included a $3.7 million non-cash deferred income tax benefit from Kronos related to proposed currency regulations, offset by a $0.6 million expense regarding an uncertain tax position. Management cited market share gains, higher TiO2 selling prices, and cost reduction initiatives as key drivers for Kronos' operational improvement, though risks regarding raw material costs, currency fluctuations, and pending litigation remain.

15. Nov 5, 2026, 4:17 PM ET·KRMN·Industrials

    Karman Space & Defense — Third Quarter Fiscal Year 2026 Earnings Summary

    KARMAN HOLDINGS INC

    Reported record quarterly revenue of $201.6 million (up 65.6% YoY) and net income of $20.9 million (up 174% YoY), with adjusted EBITDA reaching $60.5 million (up 60% YoY). Raised full-year fiscal 2026 revenue guidance to $755–$760 million and adjusted EBITDA guidance to $225–$227 million, citing a strong demand environment. Total backlog surged to a record $1.7 billion (up 108% vs. FY2025), driven by $465 million in quarterly bookings and a new seven-year THAAD contract with Lockheed Martin. Completed the acquisition of Walker Precision Holdings Limited to expand European presence, while net cash and cash equivalents increased to $68.2 million. Management targets long-term organic revenue growth of 20% to 25% and is actively negotiating additional long-term agreements and second-source opportunities.

16. Nov 5, 2026, 4:17 PM ET·WLDN·Industrials

    Willdan Group — Third Quarter 2026 Earnings Summary

    WILLDAN GROUP INC

    Headline Financial Results: Contract revenue rose 17.9% YoY to $214.5 million and net revenue increased 18.1% YoY to $112.2 million; Adjusted EBITDA grew 22.4% YoY to $28.3 million (25.2% margin), while GAAP net income and diluted EPS declined 13.6% and 15.6% respectively. Guidance and Outlook: Management raised full-year 2026 targets for Net Revenue ($435–$445M), Adjusted EBITDA ($109–$111M), and Adjusted EPS ($5.15–$5.25), while introducing preliminary FY2027 targets projecting >$1B contract revenue, >$500M net revenue, and >$140M Adjusted EBITDA. Strategic M&A Activity: The company completed the Mantis Innovation acquisition, its largest in history, driving $55.8 million in cash used for acquisitions during the nine-month period and increasing goodwill to $223.2 million. Capital Position and Liquidity: Cash and cash equivalents decreased to $39.2 million from $65.9 million at the start of the fiscal year, while accounts receivable increased to $97.5 million and total liabilities rose to $274.8 million.

17. Nov 5, 2026, 4:15 PM ET·FIP·Industrials

    FTAI Infrastructure — Third Quarter 2026 Earnings Summary

    FTAI INFRASTRUCTURE INC

    Reported Q3 2026 Adjusted EBITDA of $95.3 million, a record quarterly high compared to $70.9 million in Q3 2025, while total revenues rose to $219.0 million from $140.6 million year-over-year; however, consolidated net loss widened to $150.2 million from $159.2 million, and stockholders' equity turned negative to $544.4 million from $21.3 million. Management confirmed an active M&A pipeline with the rail segment achieving record revenues and EBITDA, alongside the planned closing of the $255 million acquisition of energy logistics assets from USD Group LLC and the sale of Long Ridge, both expected in November 2026. No specific forward numerical guidance was provided, though the Board declared a $0.03 per share cash dividend payable in December 2026, and the company reported total debt, net, of $2.83 billion as of September 30, 2026.

18. Nov 5, 2026, 4:15 PM ET·SRFM·Industrials

    Surf Air Mobility — Third Quarter 2026 Earnings Summary

    SURF AIR MOBILITY INC

    Total revenue reached a record $36.5 million, up 25% year-over-year and 24% quarter-over-quarter, driven by a 121% year-over-year surge in Surf On Demand revenue to $19 million, while Airline operations revenue declined 15% year-over-year due to route exits. Net loss narrowed to $20.4 million (25% improvement year-over-year) and Adjusted EBITDA loss was $6.7 million (32% improvement year-over-year), with Airline operations generating positive Adjusted EBITDA of $1.2 million. Full Year 2026 Adjusted EBITDA loss guidance was revised upward to $35 million–$32 million (from $30 million–$25 million) due to higher fuel prices and extended SurfOS implementation, while Q4 revenue guidance is set at $36.4 million–$46.4 million. Strategic progress includes the commercial launch of OperatorOS with five contracts signed, the deployment of Enterprise BrokerOS at Wheels Up, and the completion of a $21.6 million asset-backed loan facility. Leadership changes include the appointment of Jason Secore as CFO and Barrett Brown as President of SurfOS, alongside a 2026 share count increase to 134.9 million from 73.1 million at year-end 2025.

19. Nov 5, 2026, 4:14 PM ET·WSC·Industrials

    WillScot — Third Quarter 2026 Earnings Summary

    WILLSCOT HOLDINGS CORP

    Revenue reached $601.3 million (up 6.1% YoY) and net income rose to $51.6 million (up 19.2% YoY), while Adjusted EBITDA margin expanded 160 basis points sequentially to 38.8%. Full-year 2026 revenue guidance was raised to $2.340 billion and Net CAPEX guidance increased to $400 million; Adjusted EBITDA guidance remained at $920 million, with early 2027 outlook projecting mid-single digit EBITDA growth. Strategic capital allocation included $57 million in debt paydowns and $123.1 million in net CAPEX focused on new rental equipment and refurbishments to support enterprise account growth and modular activation trends. Management highlighted strong business momentum with 15% growth in Enterprise Account revenue and a 12% acceleration in activation growth, though sustained variable costs in Q4 2026 may temporarily impact sequential margin expansion.

20. Nov 5, 2026, 4:12 PM ET·KDK·Industrials

    Kodiak AI — Third Quarter 2026 Earnings Summary

    KODIAK AI INC

    Revenue surged 286% year-over-year to $2.969 million for Q3 2026, while net income turned positive at $27.414 million compared to a $269.935 million loss in the prior year period. The company secured a binding agreement with DTL Transport for 75 autonomous trucks and named IKEA Supply as its first long-haul launch partner, advancing the Autonomy Readiness Measure to 99%. Management targets a year-end unsupervised autonomous long-haul launch, with International LT platform deployments scheduled for the second half of 2027. Total liabilities decreased to $86.690 million from $219.274 million at year-end 2025, and the company raised $100.0 million via private placement during the nine-month period. Free cash flow for the quarter exceeded guidance expectations, though GAAP operating expenses rose to $53.347 million from $30.739 million in the prior year quarter.

21. Nov 5, 2026, 4:10 PM ET·SERV·Industrials

    Serve Robotics — Third Quarter 2026 Earnings Summary

    SERVE ROBOTICS INC

    Q3 2026 revenue surged 313% year-over-year to $2.8 million, with total nine-month revenue reaching $9.1 million; however, GAAP net loss widened to $59.2 million for the quarter and $172.4 million for the nine-month period. Management raised full-year 2026 revenue guidance to $12 million and lowered non-GAAP operating expense guidance to $150 million, citing structural gains in unit economics and improved fleet margins. Strategic expansion included the acquisition of Diligent Robotics, the launch of "Serve Physical AI Services" for third-party robot makers, and the first international deployment in Australia. Operational scale grew significantly with daily active robots tripling to 917 and daily supply hours increasing to 11,214, while the company raised $84.9 million through equity offerings and ended the quarter with $198.0 million in cash and marketable securities.

22. Nov 5, 2026, 4:07 PM ET·ICFI·Industrials

    ICF — Third Quarter 2026 Earnings Summary

    ICF INTERNATIONAL INC

    Revenue rose 1.1% year-over-year to $470.5 million, while net income increased 33.2% to $31.7 million ($1.76 per diluted share) and Non-GAAP EPS grew 18.6% to $1.98. Full-year 2026 guidance remains stable with revenue expected to match 2025 levels, Non-GAAP EPS midpoint maintained at $7.10, and operating cash flow projected between $135 million and $150 million. Contract awards totaled $746 million, driving a book-to-bill ratio of 1.59 for the quarter and expanding the total backlog to $3.5 billion. Capital return activities included $33.1 million in stock repurchases and a declared quarterly dividend of $0.14 per share, while debt decreased to $372.1 million. Strategic outlook highlights positive momentum into 2027, though commercial energy growth faces headwinds from regulatory pressures and reduced contract add-on activity.

23. Nov 5, 2026, 4:07 PM ET·ARLO·Industrials

    Arlo Technologies — Third Quarter 2026 Earnings Summary

    ARLO TECHNOLOGIES INC

    Total revenue reached $149.2 million, a sequential decline from $155.9 million but a 6.9% year-over-year increase from $139.5 million, driven by a record $96.0 million in subscriptions and services revenue (up 20.1% YoY). Adjusted EBITDA grew 57.6% year-over-year to $26.9 million with an 18.0% margin, while GAAP net income was $0.9 million and non-GAAP diluted EPS was $0.24. The company authorized a new $100 million stock repurchase program through December 2028 and repurchased $14 million of common stock during the quarter. Q4 2026 revenue guidance is set between $137 million and $147 million, with non-GAAP EPS guidance between $0.17 and $0.23, though management cites uncertainty regarding global tariffs impacting costs. Strategic momentum is supported by the launch of AI-driven products like Arlo Secure 7 and the Arlo Ultra Secure Plan, alongside a 23.1% year-over-year increase in cumulative paid accounts to 6.6 million.

24. Nov 5, 2026, 4:05 PM ET·QRHC·Industrials

    Quest Resource Holding Corporation — Third Quarter 2026 Earnings Summary

    QUEST RESOURCE HOLDING CORP

    Revenue increased 0.7% year-over-year to $63.8 million, while GAAP net loss narrowed to $(0.5) million from $(1.3) million in Q3 2025, excluding a $11.0 million non-cash goodwill impairment recorded in Q2 2026. Adjusted EBITDA rose to $3.4 million from $2.9 million year-over-year, supported by a 150 basis point sequential expansion in gross margin to 17.8% and a 9.1% sequential increase in gross profit. Management highlighted a healthy sales pipeline with national brands in late-stage discussions and confirmed a strategic focus on cash flow generation and debt reduction, evidenced by a decrease in notes payable to $60.0 million. The company strengthened its leadership team with a new Senior Vice President of Technology and reported a more diversified revenue base driven by sequential growth in non-industrial segments and margin gains from industrial customers.

25. Nov 5, 2026, 4:05 PM ET·KTOS·Industrials

    Kratos Defense & Security Solutions — Third Quarter 2026 Earnings Summary

    KRATOS DEFENSE & SECURITY SOLUTIONS INC

    Q3 2026 consolidated revenue reached $471.8 million, a 35.7% year-over-year increase driven by a 52.5% surge in Government Solutions, while GAAP operating loss widened to $4.9 million from $7.1 million income in the prior year period. Adjusted EBITDA rose to $50.9 million (10.8% margin) and Adjusted EPS to $0.24, with full-year 2026 revenue guidance raised to $1,780–$1,810 million and a 2027 forecast projecting $2.1–$2.2 billion in revenue. Backlog grew to $2.650 billion with a 2.2 to 1.0 book-to-bill ratio, though Q4 guidance reflects a light Q1 2027 due to the federal Continuing Resolution, with significant recovery expected once appropriations are finalized. Management plans significant capital investments in 2027 to support production ramps, including up to 3,000 turbo jet engines and new hypersonic and drone facilities, while noting risks from supply chain constraints and potential government shutdowns.