The record Aerospace backlog of $51.1M provides strong revenue visibility for the next 12-18 months. Traders should monitor the CEO search outcome and any further share repurchase activity as key catalysts. The next catalyst is the fiscal Q2 2027 earnings report in December 2026.
Price Chart
Executive Summary
Butler National reported a record first quarter for fiscal 2027 with revenue surging 53% to $30.8M and operating income up 59% to $7.4M, driven by a 92% jump in Aerospace Products revenue to $21.7M. The Aerospace backlog hit a record $51.1M, and the company continued share repurchases, reducing the diluted share count by 4.4% year-over-year. The strong operational momentum from the record fiscal 2026 year is accelerating into fiscal 2027, though no forward guidance was provided.
Key Financial Metrics
Key Facts
- Revenue increased 53% YoY to $30.8M from $20.1M
- Operating income rose 59% YoY to $7.4M from $4.7M
- Net income grew 43% YoY to $5.3M from $3.7M
- Aerospace Products segment revenue surged 92% to $21.7M
- Aerospace Products backlog reached a record $51.1M
- Operating margin expanded to 24% from 23% in the prior-year quarter
- Diluted EPS increased to $0.08 from $0.06
- Company repurchased 246,996 shares during the quarter
- Diluted share count fell to 63.95M from 66.92M YoY
- Long-term liabilities declined 3% sequentially to $27.5M
Financial Impact
Revenue growth of $10.7M YoY (+53%), operating income growth of $2.8M (+59%), net income growth of $1.6M (+43%)
Risk Factors
- No permanent CEO has been appointed, creating leadership uncertainty
- Professional Services segment growth is sluggish at 3% with sports wagering revenue declining
- Dependence on government contracts and defense spending creates concentration risk
- Aerospace segment revenue can be lumpy due to project timing and aircraft availability
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000015847-26-000044 |
| Document: buks-20260911.htm | 0000015847-26-000044 |
| Document: 0000015847-26-000044-index-headers.html | 0000015847-26-000044 |
| Document: 0000015847-26-000044-index.html | 0000015847-26-000044 |
| Document: 0000015847-26-000044.txt | 0000015847-26-000044 |
| 8-K Data (Synthetic) | 0000015847-26-000044 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 8-K | $4.40 $4.32 | ▼ −1.82% | ▼ −1.39% | $4.91 (+11.59%) |
Sep 30, 2026 27d ago | 8-K | $4.03 $4.14 | ▲ +2.73% | ▲ +2.55% | $4.91 (+21.84%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.09 $4.11 | ▲ +0.49% | ▲ +1.21% | $4.91 (+20.05%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.09 $4.11 | ▲ +0.49% | ▲ +1.21% | $4.91 (+20.05%) |
Sep 11, 2026 6w ago | 8-K | $4.25 $4.02 | ▼ −5.41% | ▼ −4.97% | $4.91 (+15.53%) |
Aug 20, 2026 9w ago | 8-K | $4.25 $4.11 | ▼ −3.29% | ▼ −3.70% | $4.91 (+15.53%) |
Jul 16, 2026 14w ago | Insider Cluster | $4.86 $4.78 | ▼ −1.65% | ▼ −1.48% | $4.91 (+1.03%) |
Jul 14, 2026 15w ago | Insider Cluster | $4.78 $4.80 | ▲ +0.42% | ▲ +0.96% | $4.91 (+2.72%) |
Jul 14, 2026 15w ago | Insider Cluster | $4.78 $4.80 | ▲ +0.42% | ▲ +0.96% | $4.91 (+2.72%) |
Jul 8, 2026 15w ago | 8-K | $4.25 $4.37 | ▲ +2.82% | ▲ +1.98% | $4.91 (+15.53%) |
US Market Status
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