Filing Flows › CPI Aerostructures (CVU) › Q1 2026
CPI Aerostructures (CVU) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
CPI Aerostructures (CVU) reported revenue of $17.4M for the first quarter 2026 (Q1 2026), +13% from a year earlier and -11% from the quarter before. Operating margin was 10.5%, net earnings $1.2M (7.1% of revenue).
CPI Aerostructures, Q1 2026: revenue $17.4M (+13% year over year), operating margin 10.5%, net earnings $1.2M, operating cash flow −$425K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.4M | -11% | +13% |
| Gross profit | $4.5M | +14% | +172% |
| Operating profit | $1.8M | +47% | — |
| Net earnings | $1.2M | +79% | — |
| Operating cash flow | −$425K | — | — |
What changed
Revenue was $17.4M in Q1 2026, up 13% year over year and down 11% from the previous quarter. Government subcontracts was the largest line at 85% of revenue. Government subcontracts added $3.4M year over year (up 30%), 171% of the total change. Prime government contracts declined 37%.
Gross margin was 25.8%, up 15.1 points from Q1 2025. Operating profit was $1.8M, a 10.5% margin (up 18.2 points year over year). Operating expenses fell 7% while revenue rose 13%. Net earnings were $1.2M. The effective tax rate was 21.1%.
Operating cash flow was −$425K. Non-cash charges added back $40K of depreciation and amortization and $235K of share-based compensation. Working capital and other items used $1.9M. Capital expenditures of $53K exceeded it, leaving free cash flow of −$478K.
Questions
What was CPI Aerostructures' revenue in the first quarter 2026?
CPI Aerostructures (CVU) reported revenue of $17.4M for the first quarter 2026 (Q1 2026), +13% from a year earlier and -11% from the quarter before.
Was CPI Aerostructures profitable in the first quarter 2026?
Operating profit was $1.8M (10.5% of revenue) and net earnings $1.2M.
Source: CPI Aerostructures 10-Q on SEC EDGAR.