Graham Corporation Earnings Recaps
Q4 2026
Jun 10, 2026
Shares dropped 6.4% after earnings as investors reacted negatively to a cautious outlook amid margin pressures and deceleration signals, despite record revenue and backlog. The roughly flat revenue growth and investments weighed on near-term profitability and outlook.
Key takeaways
- Reported record annual revenue of $245 million and record backlog of $533 million, supporting demand visibility across core markets.
- Fiscal 2026 revenue growth was modest, with Energy and Process up 14% but Space revenue flat year-over-year, suggesting uneven end-market strength.
- Substantial investments in automation, manufacturing capacity, and recent acquisitions expanded capabilities but likely compressed margins near term.
- Defense backlog remains strong, driven by naval programs and new directed energy projects, yet cautious tone on capital spending in Energy signals potential headwinds.
- The newly integrated FlackTek business broadens technology portfolio, but returns and synergies remain early and uncertain given the ongoing transition.
Q3 2026
Feb 6, 2026
Graham Corporation's third quarter fiscal 2026 results showcased robust growth with revenue rising 21% to $56.7 million and a remarkable 50% increase in adjusted EBITDA, underscored by strategic acquisitions and strong order momentum.
Key takeaways
- Revenue climbed to $56.7 million, driven by key project milestones and solid performance across end markets.
- Adjusted EBITDA surged 50% to $6 million, achieving an adjusted EBITDA margin of 10.7%.
- Record backlog reached $515.6 million with a book-to-bill ratio of 1.3x, enhancing future revenue visibility.
- Successful acquisition of Xdot Bearing Technologies bolsters capabilities in high-speed rotating machinery.
- Acquisition of FlackTek establishes a third core technology platform, enhancing market position and revenue mix towards a balanced 50%-defense, 50%-commercial framework.