The sharp operational turnaround and strong backlog suggest the A-10 headwind is fully absorbed. Monitor upcoming quarterly filings for sustained margin expansion and cash flow generation. The $495M backlog provides multi-year revenue visibility, supporting a re-rating if execution continues.
Price Chart
Executive Summary
CPI Aerostructures reported a strong Q1 2026 earnings beat, with revenue of $17.4M (+12.8% YoY) and EPS of $0.10, swinging from a -$0.10 loss in the prior year. Gross margin expanded to 25.8% from 10.7%, driven by favorable product mix and operational efficiencies. The company also highlighted a $495M backlog and new missile program production, signaling a clear turnaround from the A-10 program headwinds that weighed on 2025 results.
Key Financial Metrics
Key Facts
- Revenue of $17.4M in Q1 2026 vs $15.4M in Q1 2025 (+12.8% YoY)
- Net income of $1.2M vs net loss of $(1.3M) in Q1 2025
- EPS of $0.10 vs $(0.10) in Q1 2025
- Gross margin expanded to 25.8% from 10.7% (21.6% ex A-10 impact)
- Adjusted EBITDA of $2.1M vs $(0.8M) in Q1 2025
- Backlog of $495M supported by recent contract awards
- Debt refinanced in Dec 2025, extending maturity to 2030 and lowering interest rate
Financial Impact
Revenue +12.8% YoY, net income swing of +$2.6M YoY, gross margin +1510 bps YoY
Risk Factors
- Dependence on defense program awards and government funding cycles
- Execution risk on new missile program production ramp
- Relatively high debt of ~$19M vs $48M market cap
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001999371-26-010939 |
| Document: cvu-8k_051826.htm | 0001999371-26-010939 |
| Document: 0001999371-26-010939-index-headers.html | 0001999371-26-010939 |
| Document: 0001999371-26-010939-index.html | 0001999371-26-010939 |
| Document: 0001999371-26-010939.txt | 0001999371-26-010939 |
| 8-K Data (Synthetic) | 0001999371-26-010939 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 10w ago | Press Release | $5.86 | awaiting T+60 | — | $4.77 (−18.60%) |
May 26, 2026 22w ago | Press Release | $5.09 $5.67 | ▲ +11.39% | ▲ +8.67% | $4.77 (−6.29%) |
May 18, 2026 23w ago | 8-K | $4.20 $5.48 | ▲ +30.48% | ▲ +25.63% | $4.77 (+13.57%) |
Apr 15, 2026 27w ago | EFFECT | $3.44 $5.16 | ▼ −50.00% | ▼ −41.86% | $4.77 (−38.66%) |
Apr 7, 2026 29w ago | S-3/A | $3.25 $5.47 | ▼ −68.31% | ▼ −55.04% | $4.77 (−46.77%) |
Mar 31, 2026 29w ago | 8-K | $3.41 $5.30 | ▼ −55.43% | ▼ −42.05% | $4.77 (−39.88%) |
Mar 9, 2026 33w ago | Press Release | $4.81 $5.10 | ▲ +6.03% | ▼ −5.96% | $4.77 (−0.83%) |
Mar 3, 2026 34w ago | Press Release | $4.52 $4.92 | ▲ +8.85% | ▼ −1.47% | $4.77 (+5.53%) |
US Market Status
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