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CPI Aerostructures (CVU) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · CPI Aerostructures (CVU) Q2 2026 earnings results →
Q2 2026 Revenue up 16% year over year to $17.6M · 4¢ of every $1 of revenue kept as net profit · operating margin 6.8%
CPI Aerostructures made $17.6M in Q2 2026 (+16% Y/Y): Government subcontracts $15.3M, Commercial contracts $1.5M, Prime government contracts $716K. Operating margin 6.8%, net earnings $686K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
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What changed this quarter
Revenue was $17.6M in Q2 2026, up 16% year over year and up 1% from the previous quarter. Government subcontracts was the largest line at 87% of revenue. Government subcontracts added $3.1M year over year (up 25%), 128% of the total change. Prime government contracts declined 46%.
Gross margin was 22.0%, up 17.7 points from Q2 2025. Operating profit was $1.2M, a 6.8% margin (up 19.9 points year over year). Operating expenses grew 1% against revenue growth of 16%. Net earnings were $686K. The effective tax rate was 22.3%.
Operating cash flow was −$1K. Non-cash charges added back $26K of depreciation and amortization and $146K of share-based compensation. Working capital and other items used $859K. Capital expenditures of $7K exceeded it, leaving free cash flow of −$8K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $17.6M | +16% | 6.8% | $686K | −$1K |
| Q1 2026 | 10-Q | May 15, 2026 | $17.4M | +13% | 10.5% | $1.2M | −$425K |
| Q4 2025 | 10-K | Mar 31, 2026 | $19.4M | -11% | 6.4% | $692K | −$2.1M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $19.3M | -0.8% | 9.1% | $1.1M | $212K |
| Q2 2025 | 10-Q | Aug 19, 2025 | $15.2M | -27% | -13.1% | −$1.3M | −$596K |
| Q1 2025 | 10-Q | May 15, 2025 | $15.4M | -19% | -7.7% | −$1.3M | −$2.7M |
| Q4 2024 | 10-K | Mar 31, 2025 | $21.8M | -7% | 9.5% | $971K | $4.4M |
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🔄Rotation against the market and its industry (RRG)interactive
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Customers and suppliers named in filings
Sells to
- RTX — 38% of its revenue · Stated in 10-K (sentence) · source
- LMT — 20% of its revenue · Stated in 10-K (sentence) · source
About CPI Aerostructures
CPI Aero is a prime contractor to the U.S. Department of Defense as well as a Tier 1 subcontractor to some of the largest aerospace and defense contractors in the world. CPI Aero provides engineering, program management, supply chain management, assembly operations and MRO services to this global network of customers. CPI Aero is recognized as a leader within the international aerospace market in such areas as aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products.
In its own words, from its 8-K, filed Aug 13, 2026.
CPI Aerostructures against its Aircraft Parts & Auxiliary Equipment, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +16% against the peers' median +27%. Operating margin: 6.8% against the peers' median 15.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CVU CPI Aerostructures | Q2 2026 | $17.6M | +16% | 6.8% |
| TDG TransDigm Group | Q3 FY26 | $2.7B | +22% | 44.8% |
| ARXS Arxis | Q3 2026 | $564M | +36% | 23.7% |
| ATRO Astronics | Q2 2026 | $260M | +27% | 15.6% |
| DCO Ducommun | Q3 2026 | $227M | +6% | 11.4% |
| KRMN Karman Holdings | Q3 2026 | $202M | +66% | 15.7% |
| LOAR Loar Holdings | Q3 2026 | $176M | +39% | 26.2% |
| AADX Applied Aerospace & Defense | Q2 2026 | $167M | +47% | -57.5% |
| PKE Park Aerospace | Q2 FY27 | $20.8M | +27% | 22.8% |
Source: CPI Aerostructures 10-Q on SEC EDGAR · CIK 889348 · Aircraft Parts & Auxiliary Equipment, NEC
13F: who owns CVU and who is buying
More on CVU
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
- CPI Aerostructures gross margin by quarter
- CPI Aerostructures operating margin by quarter
- CPI Aerostructures net income by quarter
- CPI Aerostructures Government subcontracts revenue by quarter
- CPI Aerostructures Commercial contracts revenue by quarter
- CPI Aerostructures Prime government contracts revenue by quarter