Keybanc maintains Karman Holdings at Overweight, lowers price target to $65 from $100

Karman Holdings (KRMN) subsidiary Karman Space & Defense won a NASA contract for the SkyFall Mars mission, designing a parachute deployment system. This is Karman's first full design responsibility for a Mars exploration program. The company has a market value of $4.5b and focuses on mission-critical hardware for government and commercial programs.

Karman Holdings (KRMN) reported record Q3 2026 revenue, with CEO John Rambo expressing confidence in maintaining margins due to long-term agreements. CFO Chris Boynton attributed raised guidance to strong performance and Walker's contribution. The company expects 20%-25% organic growth and 30% EBITDA margin, with a $1.7B backlog including $218M from THAAD LTA. CapEx is projected at 5%-6% of sales in 2027, with investments focused on 2028 capacity. Walker's growth will be inorganic until Q3 2027.

Karman Holdings (KRMN) reported Q3 2026 earnings with 25% year-over-year organic revenue growth, 11% sequential growth, and a record backlog of $1.7 billion. The company expects continued growth driven by defense and space programs, with updated guidance and strong financial performance. Key highlights include $202 million in revenue, $61 million in adjusted EBITDA, and $13 million in free cash flow.

Karman Holdings (KRMN) reported record Q3 2026 results, with revenue outlook of $755M-$760M and backlog reaching $1.7B. CEO Jonathan Rambeau cited strong customer demand and capacity expansion. (NYSE:KRMN)

Karman Space & Defense reported Q3 revenue of $202M and adjusted EPS of $0.19, both exceeding estimates. The company raised its 2026 revenue and EBITDA guidance. Shares closed down 6.1% at $32.09.

Karman Holdings reported Q3 Non-GAAP EPS of $0.19, beating estimates by $0.04, with revenue of $202M, up 65.8% year-over-year and exceeding expectations by $7.26M. The company raised its FY2026 revenue guidance to $755M-$760M and Adjusted EBITDA guidance to $225M-$227M. GAAP diluted EPS was $0.16, up from $0.06.