Filing Flows › Air T (AIRT) › Q3 FY26
Air T (AIRT) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 13, 2026
Air T (AIRT) reported revenue of $71.1M for the third quarter fiscal 2026 (Q3 FY26), -9% from a year earlier and +11% from the quarter before. Operating margin was -5.3%, net loss $2.0M (2.8% of revenue).
Air T, Q3 FY26: revenue $71.1M (-9% year over year), operating margin -5.3%, net loss $2.0M, operating cash flow −$18.5M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.1M | +11% | -9% |
| Operating profit | −$3.8M | -169% | -308% |
| Net earnings | −$2.0M | -146% | — |
| Operating cash flow | −$18.5M | — | -213% |
What changed
Revenue was $71.1M in Q3 FY26, down 9% year over year and up 11% from the previous quarter. Overnight air cargo was the largest line at 43% of revenue. Commercial Aircraft, Engines and Parts lost $13.9M year over year (down 42%), 205% of the total change.
Operating costs exceeded revenue by $3.8M, an operating margin of -5.3%. Total costs fell 2% while revenue fell 9%. The fastest-growing cost line was General & admin (+17%). The quarter ended with a net loss of $2.0M, after a profit of $5.0M the previous quarter. Non-operating items added $1.9M, -101% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$18.5M. Non-cash charges added back $1.6M of depreciation and amortization. Working capital and other items used $18.1M. Capital expenditures of $783K exceeded it, leaving free cash flow of −$19.3M.
Questions
What was Air T's revenue in the third quarter fiscal 2026?
Air T (AIRT) reported revenue of $71.1M for the third quarter fiscal 2026 (Q3 FY26), -9% from a year earlier and +11% from the quarter before.
Was Air T profitable in the third quarter fiscal 2026?
Operating loss was $3.8M (-5.3% of revenue) and net loss $2.0M.
Source: Air T 10-Q on SEC EDGAR.