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Butler National (BUKS) investor relations material

Butler National Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary12 Dec, 2025

Executive summary

  • Achieved record quarterly and six-month performance, with operating income up 46% for Q2 FY2026 and 40% for the six months, and net income up 67% for the quarter and 66% for the six months, driven by Aerospace Products and sports wagering.

  • Revenue increased 9% to $23.3 million for Q2 FY2026 and 5% to $43.4 million for the six months, with Aerospace Products leading growth.

  • Operating margin improved to 38% for Q2 FY2026 and 27.1% for the six months, reflecting operational efficiencies.

  • Resumed quarterly earnings calls and enhanced transparency with shareholders.

  • Focused on operational efficiency, internal manufacturing, and ongoing initiatives in both aviation and gaming.

Financial highlights

  • Q2 FY2026 revenue was $23.3 million (up from $21.3 million), and six-month revenue was $43.4 million (up 5% year-over-year).

  • Net income for Q2 FY2026 was $5.99 million (up 67%), and for six months was $9.7 million (up 66%).

  • Aerospace segment revenue rose 20% to $14 million in Q2 FY2026; Professional Services revenue declined 5% to $9.2 million.

  • Earnings per share were $0.09 for Q2 FY2026 and $0.15 for the first six months.

  • Operating margin improved to 38% for Q2 FY2026 and 27.1% for the six months.

Outlook and guidance

  • Backlog remains robust at $46.3 million, with bookings and future business activity showing no slowdown.

  • Management expects continued demand for aircraft modifications, special mission electronics, and efficiency improvements.

  • Capital expenditures of $9.2 million are anticipated for the remainder of fiscal 2026, with sufficient cash to cover requirements.

  • Inflationary pressures on material and labor costs are expected to persist into fiscal 2026 and 2027.

  • Gaming/Professional Services segment faces headwinds from local economic factors but remains stable.

Sustain Aerospace 38% operating margin
Strategy for Professional Services revenue growth
How do Q1/Q2 investments drive future growth?
What mix of aerospace work drives 25% EBIT margins?
Gaming: What initiatives counter local economic impact?
Elaborate on adverse feedback for reverse split.
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Frequently asked questions

Butler National Corporation operates in the aerospace and professional services sectors, offering products and services to both commercial and government clients. In aerospace, the company specializes in the design, engineering, and modification of aircraft, including avionics upgrades and the production of components for business and military aircraft. Its professional services segment includes the management and operation of casino gaming facilities through subsidiary agreements with Native American tribes. The company is headquartered in Olathe, Kansas, and its shares are listed on the OTCQB.

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