BUTLER NATIONAL CORPORATION ANNOUNCES FIRST QUARTER 2027 FINANCIAL RESULTS
BUTLER NATIONAL CORP (BUKS) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99 PRESS RELEASE FOR IMMEDIATE RELEASE September 11, 2026 BUTLER NATIONAL CORPORATION ANNOUNCES FIRST QUARTER 2027 FINANCIAL RESULTS - Revenue increased 53% to $30.8 million - Operating income increased 59% to $7.4 million - Net income increased 43% to $5.3 million - Earn
How this was made
The 30-second read
Why it matters
Earnings beat and strong backlog may drive short‑term buying interest.
Market read
First‑report earnings release for a micro‑cap aerospace MRO firm, indicating material growth and potential price move.
What to watch
Pending permanent CEO appointment could affect execution risk.
Revenue increased 53% to $30.8 million; operating income increased 59% to $7.4 million; net income increased 43% to $5.3 million.
Revenue, operating income and net income all increased substantially year over year, led by Aerospace Products, while the company reported operating-margin expansion, record Aerospace Products backlog and share repurchases.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended July 31, 2026other | $30.78M | – | 53% |
| Operating Income, three months ended July 31, 2026other | $7.42M | – | 59% |
| Net Income, three months ended July 31, 2026other | $5.26M | – | 43% |
| Weighted Average Shares – Diluted, three months ended July 31, 2026other | 63,954,343 | – | – |
| Earnings Per Share, three months ended July 31, 2026other | $ 0.08 | – | – |
| Operating margin, first quarter of fiscal 2027other | 24% | – | – |
| Aerospace Products operating income growth, first quarter of fiscal 2027other | 91% | – | 91% |
| Aerospace Products operating margin, first quarter of fiscal 2027other | approximately 25% | – | – |
| Sports wagering revenue, three months ended July 31, 2026other | $1.1M | – | – |
| Non-gaming revenue at Boot Hill Casino, three months ended July 31, 2026other | $1.1M | – | – |
| Aerospace Products backlog, as of July 31, 2026other | $51.1M | – | – |
| Total Assets, as of July 31, 2026other | $139.5M | – | – |
| Current Liabilities, as of July 31, 2026other | $25.76M | – | – |
| Long-term Liabilities, as of July 31, 2026other | $27.46M | – | -3% |
| Stockholders' Equity, as of July 31, 2026other | $86.3M | – | 5% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Aerospace ProductsThe increase was primarily driven by a $10.7 million increase in aircraft modification activity and a $0.7 million increase in the sales of Special Mission Electronics, partially offset by a $0.9 million decrease in Aircraft Avionics. Revenue also benefited from increased sales of modification kits for field installation and delivery of two Special Mission Challenger 605/650 modification projects. | $21.7M | – | 92% |
| Professional ServicesTraditional casino gaming revenue increased $0.4 million due to increased patron spending, partly offset by lower sports wagering revenue through the DraftKings sports wagering platform. | $9M | – | 3% |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- During the first quarter of fiscal 2027, the Company repurchased 246,996 shares of its outstanding common stock for cash under its share repurchase program and as part of its ongoing capital allocation strategy.
What drove it
- Aircraft modification activity increased by $10.7 million.
- Sales of Special Mission Electronics increased by $0.7 million.
- Aircraft Avionics decreased by $0.9 million.
- The company completed and delivered two Special Mission Challenger 605/650 modification projects.
- Special Mission Electronics revenue was supported by increased production activity, additional customer orders and production efficiencies.
- Traditional casino gaming revenue increased $0.4 million due to increased patron spending.
- Aerospace Products backlog reached a record $51.1 million.
Concerns
- Sports wagering revenue through the DraftKings sports wagering platform decreased to $1.1 million for the three months ended July 31, 2026, from $1.3 million for the three months ended July 31, 2025.
- Backlog timing can vary based on customer schedules, aircraft availability, engineering and regulatory requirements, material availability and other factors.
- The press release headline separately states that operating income of $4.7 million reflects a 32% increase from the prior-year first quarter, which conflicts with the selected financial data reporting operating income of $ 7,424 versus $ 4,667 and the accompanying 59% increase.
- The Board is conducting a search for a permanent Chief Executive Officer.
What to watch
- Conversion of the record $51.1 million Aerospace Products backlog into revenue, given the stated timing dependencies.
- Sustainability of aircraft modification activity, modification-kit sales and Special Mission Electronics production demand.
- Professional Services growth, including traditional casino gaming revenue, sports wagering revenue and non-gaming revenue at Boot Hill Casino.
- Progress of the adjacent Glo Hotel property development and initiatives to increase visitation and enhance entertainment offerings at Boot Hill Casino & Resort.
- The outcome of the search for a permanent Chief Executive Officer.
Balance sheet and cash flow
- Total Assets were $ 139,520 as of July 31, 2026, compared to $ 141,842 as of April 30, 2026.
- Current Liabilities were $ 25,762 as of July 31, 2026, compared to $ 31,419 as of April 30, 2026.
- Long-term Liabilities were $ 27,458 as of July 31, 2026, compared to $ 28,445 as of April 30, 2026.
- Stockholders' Equity was $ 86,300 as of July 31, 2026, compared to $ 81,978 as of April 30, 2026.
Analysis
Butler National reported a strong first quarter of fiscal 2027. Revenue was $ 30,781 for the three months ended July 31, 2026, versus $ 20,125 in the prior-year period, while operating income rose to $ 7,424 from $ 4,667 and net income rose to $ 5,265 from $ 3,685. Earnings per share was $ 0.08, compared with $ 0.06. Management stated that operating margin increased to 24% from 23%, indicating that profitability improved alongside the substantial revenue increase.
Aerospace Products was the principal growth engine. Segment revenue increased 92% to $21.7 million from $11.3 million, driven primarily by a $10.7 million increase in aircraft modification activity and a $0.7 million increase in Special Mission Electronics sales. Aircraft Avionics declined by $0.9 million. The segment maintained an operating margin of approximately 25% despite the significant increase in activity, and its operating income increased 91%. The company also reported record Aerospace Products backlog of $51.1 million as of July 31, 2026.
Professional Services grew more modestly, with revenue increasing 3% to $9.0 million from $8.8 million. Higher traditional casino gaming revenue, up $0.4 million on increased patron spending, was partly offset by a decline in DraftKings sports wagering revenue to $1.1 million from $1.3 million. Non-gaming revenue at Boot Hill Casino increased slightly to $1.1 million from $1.0 million. This makes the trajectory of casino visitation, entertainment initiatives and sports wagering an important offset to the much faster Aerospace Products expansion.
Capital allocation included repurchases of 246,996 common shares for cash during the quarter. Stockholders' Equity increased to $ 86,300 from $ 81,978 as of April 30, 2026, while Long-term Liabilities declined to $ 27,458 from $ 28,445. The release provided no quantitative financial outlook. Investors should also note an internal inconsistency: a headline bullet cites operating income of $4.7 million and 32% growth, while the selected financial data and management commentary report $ 7,424, $ 4,667 and 59% growth.
Management, verbatim
Butler National delivered record first-quarter earnings in fiscal 2027.
Adam Sefchick, Interim Chief Executive Officer of Butler National Corporation
Importantly, our significant revenue growth translated into continued strong profitability, with operating margin increasing to 24% compared to 23% in the prior-year quarter.
Adam Sefchick, Interim Chief Executive Officer of Butler National Corporation
Butler National’s strong first-quarter results demonstrate the continued momentum across our businesses and the effectiveness of the strategy we have been executing.
Jeffrey Yowell, Executive Chairman
Not in the filing
stated, not guessed- GAAP or non-GAAP designation for reported financial metrics.
- Gross profit and gross margin.
- Operating expenses.
- Income tax expense, tax rate and effective tax rate.
- Cash and cash equivalents.
- Debt or borrowings.
- Operating cash flow.
- Free cash flow.
- Dividend amount or dividend declaration.
- Quantitative forward revenue, gross-margin, operating-expense or tax-rate guidance.
- Prior outlook for comparison.
- Segment operating income dollar amounts.
- A reconciled diluted earnings-per-share line in the selected financial-data table. The release text contains references to diluted earnings per share of $0.10 from $0.05, but the selected financial-data table labels the reported per-share row only as Earnings Per Share of $ 0.08 and $ 0.06.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Butler National Corp (OTCQX: BUKS) filed an SEC Form 8‑K reporting its Q1 FY2027 financial results.
Ticker impact
First‑report 8‑K Q1 FY2027 results showing 53% revenue growth and EPS increase to $0.08.
likely short‑term price appreciation
Revenue and earnings beat expectations; management highlights record backlog and share repurchases.
Market effects
Boosts aerospace MRO and gaming services subsectors.
Positive for Kansas‑based industrial stocks.
Limited to niche aerospace/modification market.
Counterpoint
Small cap may face liquidity constraints; earnings beat may be priced in.
Key entities
- ExecutiveAdam Sefchick
Interim CEO who commented on results.
- ExecutiveJeffrey Yowell
Executive Chairman providing strategic commentary.
