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Graham (GHM) investor relations material
Graham Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 21% year-over-year to $56.7 million in Q3 FY26, driven by strong performance across Defense, Energy & Process, and Space markets, with Defense sales up 31%.
Net income for Q3 FY26 was $2.8 million ($0.25 per diluted share), up 79% year-over-year; adjusted net income was $3.5 million ($0.31 per share).
Adjusted EBITDA rose 50% to $6.0 million, with a margin of 10.7%, reflecting productivity initiatives and operating leverage.
Orders reached $71.7 million, with a book-to-bill ratio of 1.3x and record backlog of $515.6 million, up 34% year-over-year.
Strategic acquisitions of XDot Bearing Technologies and FlackTek expanded technology platforms and market reach, with FlackTek adding advanced materials processing and a scalable third core platform.
Financial highlights
Gross profit increased 15% to $13.5 million; gross margin was 23.8%, down 100 bps due to sales mix and absence of prior year grant benefit.
Net income margin for Q3 FY26 was 5.0%; adjusted EBITDA margin was 10.7%.
SG&A as a percentage of sales declined 200 bps to 18.6% despite higher investment and acquisition costs.
Cash at quarter-end was $22.3 million; operating cash flow was $4.8 million; capex totaled $2.2 million.
Book-to-bill ratio for Q3 FY26 was 1.3x, with orders up 122% year-over-year.
Outlook and guidance
Full-year fiscal 2026 revenue guidance raised to $233–$239 million; adjusted EBITDA guidance increased to $24–$28 million.
Gross margin expected at 24.0%–25.0% of sales; effective tax rate expected at 16%–18%.
Capital expenditures projected at $15–$18 million, focused on facility and equipment upgrades.
At midpoint, this represents 12% revenue and 16% adjusted EBITDA growth.
Long-term targets reaffirmed: 8–10% organic revenue growth and low to mid-teen adjusted EBITDA margins by fiscal 2027.
- TimeTickerHeadlineOpen
- 6 FebSCW
73% revenue growth and record backlog driven by new space contracts and strategic investments. - 6 FebCDP
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All proposals passed, with no questions raised during the Q&A session. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, Space segment leads growth. - 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and strong acquisitions. - 6 FebISCTR
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Q2 2025 revenue surged 120% y/y, driven by a record Asian contract and a tripled backlog. - 6 FebSCW
Q1 2025 revenue jumped 97% year-over-year, with strong backlog and major new contracts secured. - 6 FebSCW
Q3 revenue up 39% y/y, backlog at 58.3 mln PLN, Space leads growth with global contracts.
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