Filing Flows

Filing Flows › Communication Services › Butler National (BUKS)

Butler National (BUKS) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 11, 2026 · Butler National (BUKS) Q1 FY27 earnings results →

Q1 FY27 Revenue up 53% year over year to $30.8M · 17¢ of every $1 of revenue kept as net profit · operating margin 24.1%

Butler National made $30.8M in Q1 FY27 (+53% Y/Y): Aircraft Modification $16.3M, Gaming $9.0M, Special Mission Electronics $4.9M. Operating margin 24.1%, net earnings $5.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 11, 2026.

Revenue$30.8M
Year over year+53%
Operating margin24.1%
Net earnings$5.3M
Operating cash flow$4.6M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $30.8M in Q1 FY27, up 53% year over year and up 11% from the previous quarter. Aircraft Modification was the largest line at 53% of revenue. Aircraft Modification added $10.7M year over year (up 189%), 100% of the total change. Aircraft Avionics declined 63%.

Operating profit was $7.4M, a 24.1% margin (up 0.9 points year over year). Of the extra revenue versus Q1 FY26, 26% reached operating profit, above the 23% margin then. Total costs grew 51% against revenue growth of 53%. The fastest-growing cost line was Other operating costs (+54%). Net earnings were $5.3M, up 43% year over year. The effective tax rate was 26.8%.

Operating cash flow was $4.6M (down 68% year over year), 88% of net earnings. Non-cash charges added back $1.8M of depreciation and amortization and $66K of share-based compensation. Working capital and other items used $2.5M. Capital expenditures of $1.9M left free cash flow of $2.7M.

Quarterly history

Butler National revenue by quarterButler National revenue by quarter$21.2MQ3 FY25$21.6MQ4 FY25$20.1MQ1 FY26$23.3MQ2 FY26$26.9MQ3 FY26$27.7MQ4 FY26$30.8MQ1 FY27
Butler National net earnings by quarterButler National net earnings by quarter$3.4MQ3 FY25$3.3MQ4 FY25$3.7MQ1 FY26$6.0MQ2 FY26$6.7MQ3 FY26$5.6MQ4 FY26$5.3MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 11, 2026$30.8M+53%24.1%$5.3M$4.6M
Q4 FY2610-KJul 8, 2026$27.7M+28%27.0%$5.6M$1.3M
Q3 FY2610-QMar 12, 2026$26.9M+27%34.3%$6.7M$10.6M
Q2 FY2610-QDec 11, 2025$23.3M+9%30.4%$6.0M−$822K
Q1 FY2610-QSep 12, 2025$20.1M+2%23.2%$3.7M$14.7M
Q4 FY2510-KJul 3, 2025$21.6M-4%20.4%$3.3M−$1.2M
Q3 FY2510-QMar 14, 2025$21.2M+12%19.0%$3.4M$14.0M

Charts

Butler National: revenue growth, year over year and quarter over quarterButler National: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q3 FY25-4%+2%Q4 FY25+2%-7%Q1 FY26+9%+16%Q2 FY26+27%+16%Q3 FY26+28%+3%Q4 FY26+53%+11%Q1 FY27
Latest (Q1 FY27): Y/Y +53%, Q/Q +11%.
Butler National: where the cash came from (+) and went (−), TTM to Q1 FY27Butler National: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$15.7MCapital spending−$7.0MNet borrowing (+) / repaid (−)−$6.2MOther financing−$2.9MOther investing$2.2MCash drawn (+) / kept (−)−$1.8M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Butler National: profit against cash, quarter by quarterButler National: profit against cash, quarter by quarterNet incomeOperating cash flow$3.6M$2.6MQ2 FY25$3.4M$14.0MQ3 FY25$3.3M−$1.2MQ4 FY25$3.7M$14.7MQ1 FY26$6.0M−$822KQ2 FY26$6.7M$10.6MQ3 FY26$5.6M$1.3MQ4 FY26$5.3M$4.6MQ1 FY27
Latest (Q1 FY27): Net income $5.3M, Operating cash flow $4.6M.
Butler National: diluted shares by fiscal yearButler National: diluted shares by fiscal year74MFY2175MFY2276MFY2370MFY2468MFY2565MFY26
-12.4% since FY21: buybacks shrank the count.
Butler National: long-term debt falling due (FY26)Butler National: long-term debt falling due (FY26)$4.9M2027$23.4M2028$440K2029$865K2030
Cash $35.1M, short-term investments —, long-term debt $29.5M at 2026-04-30.
Butler National in its industry: growth against margin (18 companies, SIC 7990)Butler National in its industry: growth against margin (18 companies, SIC 7990)revenue growth, year over year →↑ operating marginmedian +7%median 4%DISDKNGSTUBPRKSRSIMTNPRSUMSGESEATXPOFMSGKSEGMSGRFBYDTBTCPRKALIMXBUKS (+53%, 24%)
Services-Miscellaneous Amusement & Recreation; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About Butler National

Butler National Corporation (“Butler National” the “Company”, “we”, “us”, or “our”) was incorporated in 1960. Our companies design, engineer, manufacture, sell, integrate, install, repair, modify, overhaul, service and distribute a broad portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies and systems (“Aerospace Products”). We serve a broad, worldwide spectrum of the aviation industry, including owners of aircraft and contractors involved with private, commercial, business, and government aircraft operations. We also serve commercial weapon manufacturers and suppliers to governments and their agencies.

In its own words, from its annual report, filed Jul 3, 2025.

Butler National against its Services-Miscellaneous Amusement & Recreation peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +53% against the peers' median +16%. Operating margin: 24.1% against the peers' median 11.1%.

CompanyQuarterRevenueY/YOp. margin
BUKS Butler NationalQ1 FY27$30.8M+53%24.1%
DIS Walt DisneyQ3 FY26$25.2B+7%22.0%
DKNG DraftKingsQ3 2026$1.3B+16%-37.1%
STUB StubHub HoldingsQ2 2026$573M+33%3.4%
PRKS United Parks & ResortsQ3 2026$506M-1%27.8%
RSI Rush Street InteractiveQ3 2026$386M+39%11.1%
MTN Vail ResortsQ4 FY26$278M+2%-75.1%
PRSU Pursuit Attractions & HospitalityQ3 2026$252M+4%45.0%
MSGE Madison Square Garden EntertainmentQ1 FY27$217M+37%4.5%

Source: Butler National 10-Q on SEC EDGAR · CIK 15847 · Services-Miscellaneous Amusement & Recreation

More on BUKS

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

Compare BUKS with

中文版：Butler National（BUKS）财报

Español · Français