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Butler National (BUKS) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Mar 14, 2025
Butler National (BUKS) reported revenue of $21.2M for the third quarter fiscal 2025 (Q3 FY25), +12% from a year earlier and -0.9% from the quarter before. Operating margin was 19.0%, net earnings $3.4M (16.0% of revenue).
Butler National, Q3 FY25: revenue $21.2M (+12% year over year), operating margin 19.0%, net earnings $3.4M, operating cash flow $14.0M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.2M | -0.9% | +12% |
| Operating profit | $4.0M | -17% | +6% |
| Net earnings | $3.4M | -6% | +42% |
| Operating cash flow | $14.0M | +440% | +581% |
| Free cash flow | $12.5M | — | 15× |
What changed
Revenue was $21.2M in Q3 FY25, up 12% year over year and down 1% from the previous quarter. Aircraft Modification was the largest line at 38% of revenue. Aircraft Modification added $2.7M year over year (up 49%), 120% of the total change. Special Mission Electronics declined 15%.
Operating profit was $4.0M, a 19.0% margin (down 1.0 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, below the 20% margin then. Total costs grew 13% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+26%). Net earnings were $3.4M, up 42% year over year. The effective tax rate was 27.1%.
Operating cash flow was $14.0M (up 581% year over year), 415% of net earnings. Non-cash charges added back $1.8M of depreciation and amortization and $69K of share-based compensation. Working capital and other items added $8.8M. Capital expenditures of $1.5M left free cash flow of $12.5M.
Questions
What was Butler National's revenue in the third quarter fiscal 2025?
Butler National (BUKS) reported revenue of $21.2M for the third quarter fiscal 2025 (Q3 FY25), +12% from a year earlier and -0.9% from the quarter before.
Was Butler National profitable in the third quarter fiscal 2025?
Operating profit was $4.0M (19.0% of revenue) and net earnings $3.4M.
Source: Butler National 10-Q on SEC EDGAR.