AEVEX Corp. Class A earnings date
AEVEX Corp. Class A (AVEX) Q3 2026 Earnings Report
AVEX Q3 2026 EPS Results
- Actual EPS
- -$0.40
- Consensus EPS
- $0.09
- Beat/Miss
- Missed by -$0.49
- One Year Ago EPS
- ―
AVEX Q3 2026 Revenue Results
- Actual Revenue
- $189.70M
- Expected Revenue
- $149.47M
- Beat/Miss
- Beat by +$40.23M
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/11/2026
- Time
- After Close
- Conference Call
- Wednesday, November 11, 2026
AEVEX Corp. Class A's next earnings date is estimated for May 26, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive. AEVEX reported substantial revenue and adjusted EBITDA growth, raised fiscal 2026 guidance, expanded its maritime business through the BlackSea acquisition, increased bookings and pipeline, and highlighted strong funded and unfunded backlog. The main negatives were a one-time acquisition-related net loss, lower Global Solutions revenue, potential timing delays in awards and funding, ongoing component-specific supply-chain challenges, and the absence of formal fiscal 2027 guidance. These lowlights were outweighed by the company's reported growth, contract wins, integration progress and demand outlook.
AEVEX raised fiscal year 2026 guidance to revenue between $820 million and $840 million, compared to the previous range of $700 million to $720 million, and adjusted EBITDA between $128 million and $132 million, compared to the previous range of $105 million to $111.5 million; Maritime Systems is expected to generate revenues of approximately $150 million in 2026, Ukraine-related revenue is expected to be approximately $36.3 million in the fourth quarter, and core revenue is implied at $440 million to $460 million, with approximately 96% of the midpoint of the revenue outlook supported by funded backlog today. The company expects depreciation and amortization expense of approximately $30 million and net interest expense of approximately $13 million in 2026, expects approximately $410 million of unfunded backlog to convert into revenue by the end of 2027, and cited margins in the low to mid-20% range over time; it is not providing formal 2027 guidance today, but said it has confidence in the company's ability to continue growing in 2027.
- Strong Third-Quarter Revenue and Adjusted EBITDA GrowthThird-quarter revenue was $189.7 million, up 56.5% year-over-year, while adjusted EBITDA was $30.8 million, or 16.2% of revenue, compared with $17.8 million, or 14.6% of revenue, in the third quarter of 2025.
- Raised Fiscal 2026 GuidanceThe company raised fiscal 2026 revenue guidance to $820 million to $840 million from $700 million to $720 million previously, and adjusted EBITDA guidance to $128 million to $132 million from $105 million to $111.5 million.
- BlackSea Acquisition Expanded the Multi-Domain PortfolioAEVEX completed the BlackSea acquisition in September, established Maritime Systems as its third reportable segment, and expanded its autonomous systems portfolio into the maritime domain.
- Maritime Systems Tracking Acquisition PlanMaritime Systems is performing in line with the acquisition plan and is expected to generate approximately $150 million of revenue in fiscal 2026. The company reported $14.4 million of Maritime Systems revenue in the quarter, including $13 million from BlackSea.
- Expanded GARC Contract and Maritime DemandThe U.S. Navy added approximately $135 million to the GARC contract in 2026, bringing the total contract value to approximately $350 million. The additional funding is approximately the same amount the Navy spent to procure the initial 325 boats.
- Maritime Missionization and New AwardsAEVEX received a $41.6 million award for SightGlass and Fisher mission packages, providing the Lynx and Chaser platforms with full find-to-neutralize mine countermeasure capability. The company also stated that customer investment is continuing in autonomy upgrades, mission expansion, operations and sustainment.
- Maritime Backlog and Revenue VisibilityMaritime Systems ended the quarter with $172.3 million of funded backlog and expects to generate more than $100 million in GARC-related revenue in fiscal 2026 without delivering additional hulls.
- Successful Acquisition IntegrationAEVEX reported that it had met all internal integration milestones across customer continuity and program execution, technology and autonomy integration, manufacturing and operations, growth and customer access, and people and culture. Integration activities created no disruption for customers.
- CompassX Multi-Domain IntegrationThe company is extending its CompassX ecosystem across its platform portfolio to support platform-level autonomy and collaborative operations across air, surface and subsea domains. Enhanced autonomy and payloads have already been brought to Lynx, while CompassX capabilities are being applied to Chaser and Comet small USVs.
- Expanded Production CapacityAEVEX opened and is building out an additional 85,000 square feet of production capacity in Tampa. Across its Tampa facilities, the company stated that it has the capacity to produce over 2,000 systems per month.
- Operational Efficiency and Margin ExpansionProduction efficiencies and volumes increased, while operational synergies improved the bottom line. The company said margins continued to expand through bid integrity, operational discipline and discretionary cost control, supporting its goal of delivering margins in the low to mid-20% range over time.
- Core Revenue and Bookings AccelerationThrough the third quarter, AEVEX generated $411 million in core bookings against $263.2 million of core revenue, producing a 1.56 book-to-bill ratio. Quarterly bookings increased from $65.8 million in the first quarter to $250.2 million in the third quarter, while core revenue increased from $49 million to $137 million.
- Reduced Reliance on Ukraine and EUCOM Deep StrikeThird-quarter core revenue exceeded Ukraine-related revenue for the first time since the second quarter of 2025. With Ukraine-related revenue expected to be approximately $36.3 million in the fourth quarter and winding down thereafter, fiscal 2026 core revenue is expected to be $440 million to $460 million.
- Strong Contract Awards and Book-to-BillCompany-wide third-quarter book-to-bill was 1.3, inclusive of Maritime Systems. Since the beginning of the third quarter, announced awards totaled more than $300 million, including $88.1 million for long-range precision strike platforms, $61.5 million for one-way attack aircraft, $41.6 million for mine countermeasure systems, up to $92.2 million for SkyRange, and $17.5 million for a follow-on contract.
- Nearly $400 Million U.S. IDIQ AwardAEVEX was awarded a single-award IDIQ contract with a ceiling of nearly $400 million for unmanned aircraft systems and associated support services. Management said the award provides a flexible framework for future orders and positions the company for fiscal 2027 revenue.
- Large Funded and Unfunded BacklogFunded backlog ended the quarter at $444.3 million, including $172.3 million from Maritime Systems. The company also reported approximately $1.1 billion of awarded but not yet funded contract ceiling and expects approximately $410 million of that amount to convert into revenue by the end of 2027.
- Pipeline Expanded SignificantlyThe pipeline increased to approximately $16.6 billion from approximately $10.5 billion in the prior quarter, including $4.9 billion from Maritime Systems. Management stated that the pipeline expanded roughly 58% from the second quarter and more than 100% from the time of the IPO.
- Improved Cash Flow and Balance-Sheet ComplianceOperating cash flow for the first nine months was $40.8 million, compared with an outflow of $14.1 million in the comparable period last year, and free cash flow was $34.6 million. AEVEX ended the quarter with $78.6 million of cash and cash equivalents and $172.5 million of total debt, while its $200 million revolving credit facility remained undrawn and the company was in compliance with its credit covenants.
- Supply Chain PreparednessManagement said it saw very little supply-chain risk for fiscal 2026, with most required material in-house or in transit within production windows. For fiscal 2027 and beyond, the company has positioned inventory and developed alternative sources and multiple vendors for areas including cameras, radios, engines, alternators and power management units.
- Continued Investment in Platforms and CapacityAEVEX is investing organically in new platforms, autonomy, payloads and production capacity, while also expanding its ability to move from prototype to scaled delivery. The company stated that it expects to meet its growth trajectory without significant capital expenditures over the next several quarters.
AVEX Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| May 26, 2027 | 2027 (Q1) | ―- | 0.22 | ― | ― |
| Nov 11, 2026 | 2026 (Q3) | 0.09-0.40 | ― | ― | |
| Aug 12, 2026 | 2026 (Q2) | 0.070.01 | ― | ― | |
| May 20, 2026 | 2026 (Q1) | 0.160.22 | ― | ― |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
