Monitor integration of Rex and the upcoming Crestone/Arena merger for balance sheet transformation. Organic revenue trends and operating leverage at the cargo and GSE segments will be key for the stock's next move.
Price Chart
Executive Summary
Air T reported fiscal 2026 annual results with total revenue up 12% to $327.1M, driven by the Rex acquisition, but organic revenue declined ~7%. GAAP net income of $28.85 per share benefited from a $111.2M non-cash bargain purchase gain, while operating loss widened to $11.2M from a profit of $1.9M. Adjusted EBITDA improved 37% to $10.1M, signaling underlying operational progress despite acquisition-related expenses.
Key Financial Metrics
Key Facts
- Revenue: $327.1M, +12% YoY (including $55.3M from Rex acquisition)
- Operating loss: $11.2M vs income $1.9M prior year
- Net income per share: $28.85 (includes $111.2M bargain purchase gain) vs loss $2.23
- Adjusted EBITDA: $10.1M, +37% YoY
- Rex acquisition completed Dec 18, 2025; Crestone/Arena merger expected Q1 FY2027
Financial Impact
Revenue +12% overall, but organic down ~7%; operating loss -$11.2M; adjusted EBITDA +37% to $10.1M
Risk Factors
- Rex integration and Australian dollar exposure
- Contrail component sales volatility
- Order backlog decline at GGS segment ($0.6M vs $14.3M prior year)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000353184-26-000056 |
| Document: airt-20260629.htm | 0000353184-26-000056 |
| Document: 0000353184-26-000056-index-headers.html | 0000353184-26-000056 |
| Document: 0000353184-26-000056-index.html | 0000353184-26-000056 |
| Document: 0000353184-26-000056.txt | 0000353184-26-000056 |
| 8-K Data (Synthetic) | 0000353184-26-000056 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 10, 2026 15w ago | 424B5 | $28.40 $30.80 | ▼ −8.45% | ▼ −4.46% | $25.68 (+9.58%) |
Jul 10, 2026 15w ago | DEFA14A | $27.08 $30.21 | ▲ +11.56% | ▲ +8.93% | $25.68 (−5.17%) |
Jun 29, 2026 17w ago | 8-K | $23.61 $31.53 | ▲ +33.55% | ▲ +29.16% | $25.68 (+8.77%) |
Jun 29, 2026 17w ago | 8-K | $23.61 $31.53 | ▲ +33.55% | ▲ +29.16% | $25.68 (+8.77%) |
Jun 16, 2026 18w ago | 8-K | $22.33 $30.69 | ▲ +37.44% | ▲ +34.29% | $25.68 (+15.00%) |
Mar 4, 2026 33w ago | 8-K | $20.90 $22.50 | ▲ +7.66% | ▼ −3.64% | $25.68 (+22.87%) |
US Market Status
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