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Industrials Earnings Report — 2026-08-06 to 2026-09-20

Report generated: 2026-09-20 17:04:46 EDT

Overview

Companies reported: 134 (2026-08-06 - 2026-09-20). The Industrials sector delivered a broadly positive earnings picture driven by robust demand for AI infrastructure, data center build-outs, and power generation, which fueled record backlog levels and significant revenue growth across electrical equipment and engineering firms. Strategic acquisitions and strong pricing power further amplified results for companies like Forgent Power Solutions (FPS) and Sunbelt Rentals (SUNB), enabling widespread guidance raises and margin expansion. However, performance diverged across sub-sectors, with construction and specialized industrial firms benefiting from infrastructure momentum while agricultural equipment and residential distributors faced cyclical headwinds, and specific entities like Hub Group (HUBG) struggled with elevated input costs and regulatory risks.

Leaderboard

Top 5 by Revenue Growth (YoY)

# Company Ticker Revenue Growth YoY Revenue
1 Firefly Aerospace Inc. FLY 659% $117.7 million
2 Safe Pro Group Inc. SPAI 1,336% $1,332,074
3 Legence Corp. LGN 110.7% $1.26 billion
4 Air T Inc. AIRT 63% $115.5 million
5 Argan Inc. AGX 61.5% $384.0 million

Legence Corp. (LGN) growth includes $303.8 million in revenue from the Bowers acquisition.

Top 5 by Net Income Growth (YoY)

# Company Ticker Net Income Growth YoY Net Income
1 Amentum Holdings AMTM 560% $66 million
2 Forgent Power Solutions FPS 508% $106 million
3 RF Industries RFIL 267% $1.44 million
4 LanzaTech LNZA n/a $184.3 million
5 Resideo Technologies REZI n/a $97 million

LNZA and REZI growth rates are not listed as the summaries state the prior year values (losses) but do not explicitly calculate or state the percentage growth rate.

Themes

  • Strong demand from AI infrastructure and data center build-outs is driving revenue growth and backlog expansion across electrical equipment, industrial distribution, and engineering sectors, with companies like Forgent Power Solutions (FPS), RF Industries (RFIL), and Babcock & Wilcox (BW) citing hyperscale and power generation projects as key catalysts.
  • A significant number of firms are raising full-year revenue and earnings guidance, reflecting confidence in order visibility and pricing power, as seen with Orion Energy Systems (OESX), Sunbelt Rentals (SUNB), Toro (TTC), and AECOM (ACM).
  • M&A activity remains a primary growth vector, with major acquisitions by QXO (QXO), Heico (HEI), Brady (BRC), and CECO Environmental (CECO) contributing to revenue beats and expanded addressable markets.
  • Operational efficiency initiatives and cost management are central to margin expansion, with companies like EVI Industries (EVI), Hurco (HURC), and Resideo (REZI) reporting gross margin improvements through strategic product shifts and supply chain optimization.
  • Capital allocation strategies are heavily weighted toward share repurchases and debt reduction, with Copart (CPRT), Core & Main (CNM), and Amentum (AMTM) executing significant buyback programs while deleveraging balance sheets.
  • The sector is experiencing a divergence in performance based on end-market exposure, with construction and engineering firms benefiting from infrastructure and data center demand, while agricultural equipment and residential-focused distributors face headwinds from cyclical downturns and housing weakness.
  • Recurring revenue models and service-based growth are being prioritized to stabilize earnings, highlighted by the strategic pivots of Upwork (UPWK), Evolv Technology (EVLV), and Knightscope (KSCP) toward subscription and managed services.
  • Supply chain constraints and input cost inflation continue to pressure margins in metal fabrication and industrial machinery, necessitating price increases and inventory management strategies, as noted by Omega Flex (OFLX) and Tredegar (TG).
  • Several companies are navigating regulatory and compliance risks, including Nasdaq listing requirements for Hub Group (HUBG) and CEA Industries (BNC), and export controls affecting battery and defense supply chains for American Battery Technology (ABAT).
  • Liquidity management and financing activities are critical for capital-intensive projects, with firms like FuelCell Energy (FCEL), Intuitive Machines (LUNR), and Rocket Lab (RKLB) raising capital through equity offerings and debt issuances to fund expansion and R&D.

Market Outlook & Trends

  • Revenue growth is being driven by strategic acquisitions and backlog conversion across the sector, with Forgent Power Solutions (FPS) citing a 259% revenue surge in Powertrain Solutions and a record $3.0 billion backlog, while Rocket Lab (RKLB) saw backlog jump 137% to $2.36 billion following the acquisitions of Mynaric and Motiv.
  • Demand for data center infrastructure, AI-related services, and power generation is accelerating, evidenced by Titan Machinery (TITN) noting a 9.2% rise in Construction revenue driven by data center activity, and Babcock & Wilcox (BW) reporting a 533% backlog increase fueled by data center and baseload generation projects.
  • Several companies have raised full-year guidance due to strong momentum, including Sunbelt Rentals (SUNB) increasing revenue growth guidance to 6–9%, Core & Main (CNM) reaffirming sales and EBITDA targets driven by municipal demand, and AECOM (ACM) adjusting EPS and EBITDA guidance to reflect project delays but maintaining long-term margin targets.
  • Backlog levels are reaching record highs for engineering and construction firms, with Dycom Industries (DY) reporting a 53.2% backlog surge to $12.242 billion, Legence (LGN) citing a $5.67 billion backlog, and Amentum (AMTM) growing total backlog to $48.2 billion driven by nuclear and defense awards.
  • Pricing power and margin expansion are evident in specialized segments, as RF Industries (RFIL) expanded gross margins by 160 basis points through a shift to custom cabling, and Enovix (ENVX) reported a 21% sequential revenue increase despite margin contraction due to product mix shifts.
  • Cost pressures from raw materials, tariffs, and labor remain a key risk, with Omega Flex (OFLX) citing elevated material costs and tariffs suppressing market conditions, and Babcock & Wilcox (BW) warning of potential cost increases from skilled labor shortages and inflation.
  • Capital allocation strategies are shifting toward debt reduction and shareholder returns, with Enersys (ENS) reducing net leverage to 0.8x, Amentum (AMTM) making a $125 million voluntary debt payment, and Copart (CPRT) executing $1.63 billion in stock repurchases.
  • M&A activity is a primary growth vector, with QXO (QXO) completing the TopBuild and Kodiak acquisitions to target $50 billion in revenue by 2030, and CECO Environmental (CECO) expanding its sales pipeline to over $8.5 billion following the Thermon acquisition.
  • Liquidity and balance sheet management are critical for emerging growth companies, with Intuitive Machines (LUNR) raising $413.8 million in proceeds to fund acquisitions, and BETA Technologies (BETA) maintaining $1.48 billion in cash despite widening losses from operational expansion.
  • Regulatory and execution risks persist, including Nasdaq delisting concerns for Hub Group (HUBG), potential export bans on black mass for American Battery Technology (ABAT), and integration challenges for companies like CECO Environmental (CECO) and AECOM (ACM) facing project-specific charges.

Key Numbers

  • Forgent Power Solutions (FPS) reported Fiscal 2026 revenues of $1,420 million, a 89% year-over-year increase, with net income surging 508% to $106 million and Adjusted EBITDA rising 91% to $323 million.
  • Hub Group (HUBG) estimated first-half 2026 consolidated operating revenue between $1.70 billion and $1.80 billion, anticipating an operating loss before one-time charges due to elevated fuel and rail costs.
  • RF Industries (RFIL) posted record third-quarter net sales of $23.96 million, up 21% year-over-year, while consolidated net income jumped 267% to $1.44 million and Adjusted EBITDA rose 69% to $2.7 million.
  • Copart (CPRT) recorded fourth-quarter fiscal 2026 revenue of $1.2 billion, up 2.4% year-over-year, though full-year net income declined 4.4% to $1.5 billion and diluted EPS fell to $1.55.
  • Core & Main (CNM) reported second-quarter fiscal 2026 net sales of $2,145 million, a 2.5% year-over-year increase, with net income and diluted EPS rising 6.4% and 10.0% respectively to $150 million and $0.77.
  • Sunbelt Rentals (SUNB) achieved first-quarter fiscal 2027 total revenue of $3,115 million, up 11.2% year-over-year, while net income and EPS increased 17.4% and 23.0% to $438 million and $1.07.
  • Korn Ferry (KFY) reported first-quarter fiscal 2027 total revenue of $764.6 million, a 7% year-over-year increase, with adjusted diluted EPS rising 9% to $1.43.
  • Hurco Companies (HURC) turned a net profit in third-quarter fiscal 2026 at $2.31 million versus a $3.69 million loss in the prior year period, with gross margin expanding 800 basis points to 28%.
  • Toro (TTC) reported third-quarter fiscal 2026 net sales of $1.23 billion, up 8.4% year-over-year, while reported net earnings surged 43.9% to $77.0 million and diluted EPS increased 50.0% to $0.81.
  • Brady Corp (BRC) posted fourth-quarter fiscal 2026 sales of $436.9 million, a 10.0% year-over-year increase, with adjusted diluted EPS reaching a record $5.29 for the full year.
  • Matrix Service (MTRX) recorded fourth-quarter fiscal 2026 revenue of $244.5 million, a 13% year-over-year increase, turning to an adjusted net income of $4.6 million compared to an adjusted loss of $7.8 million in the prior year.
  • Argan (AGX) reported second-quarter fiscal 2027 consolidated revenues of $384.0 million, a 61.5% year-over-year increase, with diluted EPS rising to $3.76 from $2.50.
  • FuelCell Energy (FCEL) saw revenue decline 29% year-over-year to $33.0 million, though the net loss narrowed 51% to $45.3 million.
  • Titan Machinery (TITN) reported second-quarter fiscal 2026 consolidated revenue of $496.4 million, down 9.1% year-over-year, with a net loss widening to $9.2 million.
  • Dycom Industries (DY) posted fiscal 2027 second-quarter contract revenues of $2.006 billion, up 45.6% year-over-year, with net income rising 18.6% to $115.6 million.
  • HEICO (HEI) reported third-quarter fiscal 2026 net sales of $1,413.1 million, up 23% year-over-year, while net income surged 33% to $235.4 million.
  • NAPCO Security Technologies (NSSC) recorded fourth-quarter 2026 net revenue of $55.8 million, up 10.0% year-over-year, with net income surging 52.7% to $17.8 million.
  • Air T (AIRT) reported first-quarter fiscal 2027 total revenues of $115.5 million, a 63% year-over-year increase, though the company reported an operating loss of $12.8 million.
  • TOMI Environmental Solutions (TOMZ) posted second-quarter 2026 revenue of $2.25 million, a 118% year-over-year increase, with gross profit more than doubling to $1.39 million.
  • Greenland Technologies (GTEC) reported second-quarter 2026 revenue of $29.9 million, up 37.6% year-over-year, returning to profitability with net income of $3.5 million.
  • Safe Pro Group (SPAI) reported second-quarter 2026 total revenue of $1.33 million, a 1,336% year-over-year increase, driven by AI subsidiary sales.
  • Presidio Production (FTW) reported second-quarter 2026 total revenue of $54.0 million with net income of $14.4 million and Adjusted EBITDA of $33.2 million.
  • CPI Aerostructures (CVU) posted second-quarter 2026 revenue of $17.6 million, up from $15.2 million in the prior year, with net income turning positive at $0.7 million.
  • QXO (QXO) reported second-quarter 2026 net sales of $3,246 million, a significant increase from $1,906 million in the prior year, while net loss narrowed to $55 million.
  • HawkEye 360 (HAWK) reported second-quarter

Outliers

  • Forgent Power Solutions (FPS) delivered the strongest report with Fiscal 2026 revenues surging 89% to $1.42 billion and net income jumping 508%, driven by record bookings and robust market share gains.
  • Sunbelt Rentals (SUNB) posted the second-strongest results with total revenue rising 11.2% to $3.115 billion, leading to raised full-year guidance and a shift to quarterly dividends.
  • Hub Group (HUBG) presented the weakest report due to anticipated operating losses from elevated fuel and rail costs, accounting restatement expenses, and significant regulatory risks regarding a potential Nasdaq delisting.
  • Ocean Power Technologies (OPTT) reported the second-weakest performance with fiscal 2026 revenue revised down to $3.7 million and net loss widening to $48.9 million, reflecting a sharp decline from the prior year.

25 most recent Industrials earnings

  1. ABATIndustrials

    <Company Name> — <Reporting Period> Earnings Summary

    AMERICAN BATTERY TECHNOLOGY CO

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  2. OESXIndustrials

    Orion Energy Systems — FY2027 Earnings Summary

    ORION ENERGY SYSTEMS INC

    Revised FY2027 revenue guidance increased to $100 million–$102 million, up from the prior range of $95 million–$97 million, driven by a new follow-on commitment from a major US retailer. The retailer project is estimated to generate $10 million–$15 million in revenue, with the majority expected to be recognized in the second half of the fiscal year. FY2027 Q2 revenues are projected to decrease compared to Q1's $25.7 million, though the company anticipates achieving positive Adjusted EBITDA for the full fiscal year. Strategic expansion continues across LED lighting, IoT, maintenance, and electrical contracting services, leveraging a turnkey design-through-installation model for large national customers.

  3. FPSIndustrials

    Forgent Power Solutions — Fiscal 2026 Earnings Summary

    FORGENT POWER SOLUTIONS INC

    Fiscal 2026 revenues surged 89% year-over-year to $1,420 million, while full-year net income jumped 508% to $106 million and Adjusted EBITDA rose 91% to $323 million. The company issued strong Fiscal 2027 guidance projecting revenues of $2.4–$2.6 billion, Adjusted EBITDA of $575–$625 million, and Adjusted EPS of $1.26–$1.40, all representing midpoints of 76–95% year-over-year growth. Record bookings of $1.5 billion in Q4 2026 drove backlog to an all-time high of $3.0 billion, supported by a 259% revenue growth in Powertrain Solutions and a new $35 million capacity expansion in Tijuana. Fiscal 2026 financial results, including revenues, Adjusted EBITDA, and Adjusted Net Income, exceeded the high-end of prior guidance, with management citing robust momentum and significant market share gains.

  4. HUBGIndustrials

    Hub Group — First and Second Quarter 2026 Earnings Summary

    HUB GROUP INC

    Consolidated operating revenue for the first half of 2026 is estimated at $1.70 billion to $1.80 billion, with the company anticipating an operating loss before one-time charges due to elevated fuel, rail, and drayage costs, excess logistics capacity, and accounting restatement expenses. Full-year 2026 consolidated operating revenue guidance is set at $3.6 billion to $3.8 billion, while capital expenditures are estimated between $40 million and $50 million; management has initiated a new efficiency program targeting yield management and cost reductions. The company faces significant regulatory risks, including a potential Nasdaq Staff Delisting Determination letter due to delayed 2025 Form 10-K filings, though a credit agreement amendment extends reporting deadlines to November 30, 2026, and allows restatement costs to be added back for EBITDA covenant calculations. As of June 30, 2026, the company reported approximately $132 million in cash and cash equivalents against $198 million in total debt (net debt of ~$66 million), having borrowed $75 million in August 2026 under its $450 million revolving credit facility. Financial restatement and related filings for 2025 and the first two quarters of 2026 are expected to be completed in the fourth quarter of 2026, with the company planning to appeal any delisting determination and seeking a hearing before the Nasdaq Hearings Panel.

  5. RFILIndustrials

    RF Industries — Third Quarter Fiscal 2026 Earnings Summary

    R F INDUSTRIES LTD

    Net sales reached a record $23.96 million, up 21% year-over-year and 16% quarter-over-quarter, while consolidated net income surged 267% to $1.44 million ($0.12 per share) and Adjusted EBITDA rose 69% to $2.7 million. Gross profit margin expanded 160 basis points to 35.6% and operating income increased to $1.8 million, reflecting successful execution of a multi-year strategic shift toward higher-value custom cabling and integrated systems. The company has materially reduced reliance on cyclical wireless carrier spending by diversifying into aerospace, edge data centers, AI infrastructure, transportation, and public safety, with backlog increasing to $19.8 million. Balance sheet strength improved with total debt declining to $5.718 million from $7.836 million and total liabilities decreasing to $33.552 million, though cash and cash equivalents fell to $4.454 million.

  6. BNCIndustrials

    CEA Industries Inc. — First Quarter Fiscal 2027 Earnings Summary

    CEA INDUSTRIES INC

    Reported a net loss of $11.4 million ($0.22 per share), driven by a $15.3 million unrealized loss on digital assets, while revenue from the Retail and Industry segment declined 4.6% year-over-year to $7.2 million due to a product line discontinuance at Fat Panda. Completed a $3.8 million share repurchase program (1.43 million shares) and resolved the activism campaign with YZILabs, resulting in the withdrawal of demands and the company regaining compliance with Nasdaq Listing Rule 5620(a). Maintained a disciplined BNB treasury strategy with 515,544 tokens held (unchanged from prior quarter), while drawing $15.0 million in USDC against collateral to preserve core assets and ending the quarter with $7.1 million in cash. Faces ongoing risks including BNB price volatility, pending Asset Management Agreement litigation, and the search for a permanent CEO, with no material additional shareholder advisory costs expected from the resolved activism campaign.

  7. CPRTIndustrials

    Copart, Inc. — Fourth Quarter Fiscal 2026 Earnings Summary

    COPART INC

    Q4 2026 revenue rose 2.4% YoY to $1.2 billion, while full-year revenue grew 0.4% to $4.7 billion; however, full-year net income declined 4.4% to $1.5 billion and diluted EPS fell to $1.55 from $1.59. Gross profit decreased 0.8% for the full year to $2.1 billion, driven by a 2.2% increase in vehicle sales costs and a 0.6% rise in facility operations expenses. Capital allocation saw significant activity with $1.63 billion in common stock repurchases for the full year 2026, compared to zero in 2025, alongside a reduction in net cash used in investing activities to $877.6 million. Balance sheet liquidity tightened as cash and equivalents dropped to $1.91 billion from $2.78 billion, while total liabilities increased to $913.9 million. The company reported operating at over 250 locations across 11 countries and sold more than 4 million units in the last year, with no new guidance or M&A announcements provided.

  8. CNMIndustrials

    Core & Main — Fiscal 2026 Second Quarter Earnings Summary

    CORE & MAIN INC

    Financial Performance: Net sales rose 2.5% year-over-year to $2,145 million for the quarter, while net income and diluted EPS increased 6.4% and 10.0% respectively to $150 million and $0.77; adjusted EBITDA grew 3.0% to $274 million. Guidance & Outlook: Management reaffirmed full-year fiscal 2026 guidance for net sales ($7,800–$7,900 million), adjusted EBITDA ($950–$980 million), and EBITDA margin (12.2%–12.4%), citing confidence in the second half driven by municipal demand and an acquisition pipeline. Capital Allocation & Balance Sheet: The company deployed $169 million to repurchase 3.7 million shares during the quarter, bringing year-to-date buybacks to nearly $270 million, while net debt decreased to $2,166 million with no outstanding borrowings on the Senior ABL Credit Facility. Strategic Growth: Net sales grew across pipes, valves & fittings, fire protection, and smart utility products due to acquisitions, volume increases, and pricing power, supported by the opening of seven greenfield locations in fiscal 2026.

  9. SUNBIndustrials

    Sunbelt Rentals — Q1 Fiscal 2027 Earnings Summary

    SUNBELT RENTALS HOLDINGS INC

    Strong Financial Growth: Total revenue rose 11.2% YoY to $3,115 million, while net income and EPS increased 17.4% and 23.0% respectively to $438 million and $1.07; operating margin expanded to 22.2% and adjusted EBITDA grew 8.7% to $1,315 million. Raised Full-Year Guidance: Management increased fiscal 2027 revenue growth guidance to 6–9% (from 4.5–7.5%), rental revenue growth to 7–10% (from 5–8%), and adjusted EBITDA to $4.92–$5.12 billion (from $4.85–$5.05 billion). Strategic Capital Allocation: The Board shifted from semi-annual to quarterly cash dividends ($0.30/share), completed a $1.2 billion senior notes offering, repurchased $56 million of stock, and invested $669 million in two bolt-on acquisitions. Segment Performance & Fleet Expansion: North America Specialty revenue surged 25.3% driven by the Reliant Asset Management acquisition and FIFA World Cup demand, while the company opened 13 greenfield locations and increased original equipment cost by 6.0% YoY to $20,102 million.

  10. KFYIndustrials

    Korn Ferry — Q1 FY27 Earnings Summary

    KORN FERRY

    Total revenue grew 7% year-over-year to $764.6 million, driven by a 7% increase in fee revenue to $756.5 million, while net income rose 4% to $69.0 million and adjusted diluted EPS increased 9% to $1.43. Q2 FY27 guidance was issued for fee revenue ($860M–$878M), adjusted EBITDA margin (16.8%–17.2%), and adjusted diluted EPS ($1.30–$1.40), though consolidated net income and diluted EPS outlooks were withheld due to uncertainty regarding integration costs. The company reported $7.6 million in integration and acquisition costs related to the AMS acquisition closed on September 1, 2026, which contributed to a slight decline in net income margin to 9.1% despite flat adjusted EBITDA margins at 17.0%. All business segments and regions delivered fee revenue growth, with Search up 10% and Workforce Solutions up 11% year-over-year, while remaining fees under contract increased 14% to $1.915 billion.

  11. EVIIndustrials

    EVI Industries — Fiscal 2026 Earnings Summary

    EVI INDUSTRIES INC

    Fiscal 2026 revenue rose 15% to a record $446.6 million, with fourth-quarter revenue up 11% to $121.9 million; net income increased 3% to $7.7 million for the year and 31% to $2.7 million in Q4. Adjusted EBITDA reached a record $29.1 million (6.5% margin) for the year and $9.1 million (7.5% margin) in Q4, while operating cash flow totaled $20.6 million for the fiscal year. Strategic expansion continued with acquisitions of ASN Laundry Group, Belenky, Inc., and Sudsies, Inc., establishing a new Consumer Garment Care Services division and bringing total commercial laundry businesses to 32. Management targets double-digit consolidated operating margins over time and plans to return capital to shareholders via dividends, having paid $4.983 million in fiscal 2026. Net debt remained substantially unchanged at $44.2 million as of June 30, 2026, despite declining $11.5 million during the fourth quarter.

  12. ABMIndustrials

    ABM Industries — Fiscal Third Quarter 2026 Earnings Summary

    ABM INDUSTRIES INC

    Revenue reached a record $2.3 billion, up 4.2% year-over-year, while net income and adjusted net income both rose 19% to $49.7 million and $61.5 million, respectively. The company raised its full-year adjusted EPS guidance midpoint to $3.95–$4.10 and increased full-year operating cash flow and free cash flow outlooks to approximately $300 million and $210 million. Segment performance was mixed, with Manufacturing & Distribution up 18% and Aviation up 12%, offset by a 2.6% decline in Business & Industry due to a major UK client exit and project deferrals in Technical Solutions. Strategic capital activities included a $300 million trade receivables financing agreement, a $0.29 per share dividend declaration, and share repurchases that contributed to a 25% EPS increase. Total indebtedness stands at $1.8 billion with a leverage ratio of 2.9x, supported by $605.8 million in available liquidity and improved year-to-date free cash flow driven by working capital discipline.

  13. HURCIndustrials

    Hurco Companies, Inc. — Third Quarter Fiscal Year 2026 Earnings Summary

    HURCO COMPANIES INC

    Net income turned positive in Q3 FY26 at $2.31M ($0.35/share) versus a $3.69M loss ($0.58/share) in the prior year period; full-year nine-month net loss narrowed to $3.53M ($0.55/share) from $12.08M ($1.87/share) previously. Revenue grew 3% year-over-year in Q3 to $47.3M and 4% for the first nine months to $137.8M, while gross margin expanded 800 basis points to 28% in Q3 and 23% for the nine-month period. Order backlog surged 25% year-over-year in Q3 to $51.4M and 24% for the first nine months to $155.0M, with Asia Pacific orders up 68% and Americas orders up 37% in the quarter. Management confirmed a strategic shift in business direction with no debt, $52.1M in cash, and $166.7M in working capital, while announcing plans to launch next-generation proprietary control technology at IMTS in September 2026.

  14. TTCIndustrials

    The Toro Company — Third Quarter Fiscal 2026 Earnings Summary

    TORO CO

    Net sales rose 8.4% year-over-year to $1.23 billion, while reported net earnings surged 43.9% to $77.0 million and diluted EPS increased 50.0% to $0.81. The company raised full-year guidance, projecting net sales growth of 6.3% to 6.6% and adjusted EPS of $4.60 to $4.65, citing healthy end markets and productivity initiatives. Free cash flow for the nine months ended July 31, 2026, reached $425.1 million, up from $291.9 million the prior year, with inventory levels decreasing to $882.7 million. The Professional segment grew sales 8.8% to $1,012.6 million, driven by the Tornado acquisition, while the Residential segment saw earnings margin expand to 5.9% from 1.9%. Capital return totaled $471 million year-to-date, including $358.1 million in stock repurchases and $112.8 million in dividends, with $110 million returned specifically in the third quarter.

  15. BRCIndustrials

    Brady Corporation — Fourth Quarter Fiscal 2026 Earnings Summary

    BRADY CORP

    Financial Performance: Q4 2026 sales rose 10.0% year-over-year to $436.9 million, while full-year sales increased 9.8% to $1.66 billion; adjusted net income grew 17.5% in Q4 to $70.7 million and 14.2% for the full year to $252.6 million, with full-year adjusted diluted EPS reaching a record $5.29. Strategic Acquisition: The company completed the acquisition of Honeywell Technologies' Productivity Solutions and Services Business on August 3, 2026, rebranding it as Intelligent Productivity Solutions (IPS) to expand its addressable market to $14 billion. 2027 Outlook: Fiscal 2027 adjusted diluted EPS guidance is set at $6.25 to $6.75, representing 18.1% to 27.6% growth, with the IPS segment expected to contribute approximately $0.80 in EPS accretion, primarily in the second half of the year. Capital Allocation: Brady returned $88.3 million to shareholders in fiscal 2026 through $46.1 million in dividends and $42.2 million in share buybacks, while reducing long-term debt from $99.766 million to $14.985 million.

  16. MTRXIndustrials

    Matrix Service Company — Fiscal Year 2026 Fourth Quarter Earnings Summary

    MATRIX SERVICE CO

    Q4 fiscal 2026 revenue reached $244.5 million, a 13% year-over-year increase to the highest quarterly level in six years, while full-year revenue rose 13.6% to $873.6 million; adjusted net income for the quarter was $4.6 million ($0.16 per share), marking the second consecutive quarter of profitability compared to an adjusted loss of $7.8 million in the prior year period. Full-year adjusted net income per share improved to $0.26 from a loss of $0.93, driven by a gross margin expansion to 8.0% in Q4 and a full-year adjusted EBITDA turnaround to $16.0 million from a $12.9 million loss. The company secured nearly $170 million in project awards during Q4, including a major mining construction project, contributing to a total backlog of $953.2 million and a pipeline exceeding $7 billion focused on LNG, power, and critical minerals. Liquidity stood at $283.9 million with no outstanding debt as of June 30, 2026, supported by $223.0 million in unrestricted cash and $60.9 million in borrowing availability under a facility maturing in September 2029. Strategic initiatives included a leaner organizational structure reducing fixed overhead and the resolution of a legacy arbitration case that previously impacted revenue, alongside $3.4 million in restructuring costs for leadership transitions and workforce reductions.

  17. AGXIndustrials

    Argan, Inc. — Second Quarter Fiscal 2027 Earnings Summary

    ARGAN INC

    Consolidated revenues reached a record $384.0 million, up 61.5% year-over-year, while net income rose to $53.3 million and diluted EPS increased to $3.76 from $2.50 in the prior-year quarter. Adjusted EBITDA grew to $70.0 million (18.2% margin) from $38.5 million, driven by a 53% year-over-year revenue increase in the Power segment and a new fabrication facility under construction in the Industrial segment. Strategic capital allocation included a dividend increase to $0.50 per share and share repurchases totaling $144.9 million, alongside the acquisition of ValCor Communications to expand the Teledata segment's geographic and client reach. The company reported a project backlog of $2.5 billion as of July 31, 2026, down from $2.9 billion earlier in the fiscal year, with no debt and cash, cash equivalents, and investments totaling $1.03 billion.

  18. FCELIndustrials

    FuelCell Energy — Third Fiscal Quarter 2026 Earnings Summary

    FUELCELL ENERGY INC

    Revenue declined 29% year-over-year to $33.0 million, while net loss narrowed 51% to $(45.3) million; however, gross loss widened 377% to $(24.5) million due to manufacturing overhead exceeding contractual pricing at current production rates. Cash reserves increased to $737.3 million following a $245.5 million public offering and $52.9 million in open market sales, while total Committed and Awarded Capacity Backlog surged to $3.6 billion. Management targets positive Adjusted EBITDA in Q4 fiscal 2027 and a 100 MW annualized production rate at the Torrington facility by October 2026, with full 500 MW capacity expansion expected by June 2028. Strategic momentum includes a major capital equipment agreement with Fit Energy for up to 380 MW, a new Capacity Reservation Agreement for a 75 MW Texas project, and an MOU with Siemens to accelerate commercial deployment.

  19. TITNIndustrials

    Titan Machinery Inc. — Fiscal Second Quarter 2026 Earnings Summary

    TITAN MACHINERY INC

    Consolidated revenue declined 9.1% year-over-year to $496.4 million, while gross margin expanded to 18.6% from 17.1% despite operating expenses rising to 19.0% of revenue; net loss widened to $9.2 million ($0.40/share) from $6.0 million ($0.26/share) in the prior year period. The company reaffirmed fiscal 2027 profitability guidance (Adjusted EBITDA $17.0–$29.0 million) but revised segment outlooks for 2027, lowering Europe forecasts to a 30–40% decline and raising Australia and Construction forecasts, while anticipating calendar 2026 as the cycle bottom. Significant operational shifts include the wind-down of German operations contributing an $11 million revenue decrease and a $28.4 million increase in total inventories, alongside a $25.1 million net cash outflow from operating activities for the six-month period. Segment performance showed divergent trends: Agriculture revenue fell 8.4% due to grower profitability pressure, Construction revenue rose 9.2% driven by data center and infrastructure activity, and Europe revenue dropped 33.7% net of currency following the waning of EU stimulus programs.

  20. DYIndustrials

    Dycom Industries, Inc. — Fiscal 2027 Second Quarter Earnings Summary

    DYCOM INDUSTRIES INC

    Contract revenues reached $2.006 billion (up 45.6% YoY) with net income of $115.6 million (up 18.6% YoY), while total backlog surged 53.2% to a record $12.242 billion. Full-year Fiscal 2027 contract revenue guidance raised to $7.48–$7.66 billion, reflecting a $150 million deferral of wireless program revenues into Fiscal 2028 but unchanged overall scope. Completed acquisition of National Technology Integrators (NTI), contributing $22.9 million in revenue and diversifying the portfolio into inside-plant cabling and security systems. Communications segment margins faced headwinds from higher fuel prices and deferred projects (13.6% margin), while Building Systems exceeded expectations with a 24.5% margin. Third Quarter Fiscal 2027 revenue outlook set at $1.90–$1.98 billion, with Non-GAAP Adjusted EBITDA guidance of $281–$302 million.

  21. HEIIndustrials

    HEICO Corporation — Third Quarter Fiscal 2026 Earnings Summary

    HEICO CORP

    Net income surged 33% to a record $235.4 million ($1.67/share) in Q3 FY26 and rose 31% to $659.4 million ($4.67/share) for the first nine months, while net sales reached record levels of $1,413.1 million (up 23% YoY) and $3,967.3 million (up 21% YoY) respectively. Consolidated operating margins expanded to 25.1% in Q3 and 24.3% for the first nine months, driven by strong performance across both the Flight Support Group (18% sales growth) and Electronic Technologies Group (36% sales growth). Management forecasts continued net sales growth for the remainder of FY26 supported by underlying demand and recent acquisitions, maintaining a capital allocation strategy focused on organic growth and strategic M&A. The company completed a $1.2 billion senior notes offering to repay revolving credit facility borrowings, while nine-month acquisitions totaled $1,018.2 million, contributing to a goodwill balance of $4,356.1 million.

  22. NSSCIndustrials

    NAPCO Security Technologies — Fiscal Q4 and Full Year 2026 Earnings Summary

    NAPCO SECURITY TECHNOLOGIES INC

    Q4 2026 net revenue rose 10.0% YoY to a record $55.8 million, while full-year revenue grew 11.4% YoY to $202.3 million, driven by 12.9% and 13.0% increases in recurring service revenue for the quarter and full year, respectively. Q4 2026 net income surged 52.7% to $17.8 million, though full-year net income dipped 0.9% to $43.0 million due to a $16 million litigation settlement charge recorded in Q3. Non-GAAP Adjusted EBITDA reached record levels, increasing 44.3% to $20.6 million in Q4 and 27.9% to $66.7 million for the full year, with margins expanding significantly despite tariff impacts. The Board declared a quarterly dividend of $0.17 per share, a 13.3% increase from the prior quarter, while cash and cash equivalents grew to $126.9 million as of June 30, 2026. Management highlighted strong demand for door-locking products and a 36% growth in intrusion sales driven by StarLink fire communicators, with recurring service revenue projected at an annual run rate of approximately $103 million.

  23. OPTTIndustrials

    Ocean Power Technologies — Fiscal 2026 Earnings Summary

    OCEAN POWER TECHNOLOGIES INC

    Total revenue for fiscal 2026 was revised down to $3.7 million from $4.1 million, a decrease from $5.9 million in fiscal 2025, while net loss widened to $48.9 million from $24.5 million in the prior year. Operating expenses rose to $32.4 million from $23.3 million, and gross loss was revised down to $5.9 million from a previously reported $8.1 million, compared to a $1.7 million gross profit in fiscal 2025. Financing activities provided $26.8 million in cash, driven by $26.5 million in proceeds from convertible notes and $7.6 million from an At The Market offering, resulting in cash and cash equivalents increasing to $8.7 million. The company revised its accounting treatment for revenue and costs following audit procedures, noting these adjustments do not reflect changes in underlying business activities, cash flows, or customer contract terms. Total liabilities increased significantly to $27.4 million from $4.1 million, primarily due to $10.4 million in convertible notes payable and $6.0 million in contract liabilities, while shareholders' equity decreased to $12.5 million.

  24. ABATIndustrials

    American Battery Technology Company — Q4 FY2026 Earnings Summary

    AMERICAN BATTERY TECHNOLOGY CO

    Q4 FY2026 revenue reached $8.2 million (up 5.1% QoQ) with record gross profit of $1.3 million (up 86% QoQ), driven by a 2.8% reduction in cost of goods sold; cash balance increased 31% to $50.3 million with zero debt. Tonopah Flats Lithium Project (TFLP) initiated Definitive Feasibility Study with 11% resource increase to 21.3 million tonnes LHM, $2.57 billion after-tax NPV, and 21.8% IRR; DOE grant reinstatement supports $115 million first processing train construction. Critical mineral recycling operations scaled in Nevada with new BESS and OEM partnerships, though 90-day audited financials are pending and preliminary data remains unaudited. Significant regulatory risk identified regarding a federal export ban on black mass effective August 27, 2026; company has requested a Commerce Department exception and engaged in public comment periods, with no assurance of approval or favorable terms. Plans announced for a second critical mineral recycling facility in the Southeast U.S. to substantially scale capacity beyond the Nevada plant.

  25. CLIRIndustrials

    ClearSign Technologies — Second Quarter 2026 Earnings Summary

    CLEARSIGN TECHNOLOGIES CORP

    The company reported no specific revenue or earnings figures for the quarter, with cash and cash equivalents standing at approximately $9.9 million as of June 30, 2026. Management expects to deliver three "M1" Series burners to a Fortune 500 midstream provider in Q3 2026 and three additional units to a multinational energy company in Q4 2026. The M Series burners have gained traction with six units sold to West Texas operators, alongside new orders for a 32-burner California refinery project and three separate "M1" Series units. The Board appointed Larry Saddler, a retired ExxonMobil executive, as a new director, while management cited a growing pipeline of proposals and optimism for continued growth in fuel-flexible hydrogen burners.