Filing Flows › Butler National (BUKS) › Q1 FY27
Butler National (BUKS) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Sep 11, 2026
Butler National (BUKS) reported revenue of $30.8M for the first quarter fiscal 2027 (Q1 FY27), +53% from a year earlier and +11% from the quarter before. Operating margin was 24.1%, net earnings $5.3M (17.1% of revenue).
Butler National, Q1 FY27: revenue $30.8M (+53% year over year), operating margin 24.1%, net earnings $5.3M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.8M | +11% | +53% |
| Operating profit | $7.4M | -0.6% | +59% |
| Net earnings | $5.3M | -5% | +43% |
| Operating cash flow | $4.6M | +266% | -68% |
| Free cash flow | $2.7M | — | -79% |
What changed
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.
Questions
What was Butler National's revenue in the first quarter fiscal 2027?
Butler National (BUKS) reported revenue of $30.8M for the first quarter fiscal 2027 (Q1 FY27), +53% from a year earlier and +11% from the quarter before.
Was Butler National profitable in the first quarter fiscal 2027?
Operating profit was $7.4M (24.1% of revenue) and net earnings $5.3M.
Source: Butler National 10-Q on SEC EDGAR.