Filing Flows › Graham (GHM) › Q1 FY26
Graham (GHM) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Aug 5, 2025
Graham (GHM) reported revenue of $55.5M for the first quarter fiscal 2026 (Q1 FY26), +11% from a year earlier and -7% from the quarter before. Operating margin was 8.9%, net earnings $4.6M (8.3% of revenue).
Graham, Q1 FY26: revenue $55.5M (+11% year over year), operating margin 8.9%, net earnings $4.6M, operating cash flow −$2.3M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $55.5M | -7% | +11% |
| Gross profit | $14.7M | -8% | +19% |
| Operating profit | $5.0M | -10% | +54% |
| Net earnings | $4.6M | +5% | +55% |
| Operating cash flow | −$2.3M | — | — |
What changed
Revenue was $55.5M in Q1 FY26, up 11% year over year and down 7% from the previous quarter. Defense was the largest line at 53% of revenue. Energy and Process added $5.7M year over year (up 33%), 102% of the total change. Space declined 14%.
Gross margin was 26.5%, up 1.8 points from a year earlier. Operating profit was $5.0M, a 8.9% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 6% margin then. Operating expenses grew 7% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+18%). Net earnings were $4.6M, up 55% year over year. The effective tax rate was 8.3%.
Operating cash flow was −$2.3M. Non-cash charges added back $1.5M of depreciation and amortization and $532K of share-based compensation. Working capital and other items used $8.9M. Capital expenditures of $7.0M exceeded it, leaving free cash flow of −$9.3M.
Questions
What was Graham's revenue in the first quarter fiscal 2026?
Graham (GHM) reported revenue of $55.5M for the first quarter fiscal 2026 (Q1 FY26), +11% from a year earlier and -7% from the quarter before.
Was Graham profitable in the first quarter fiscal 2026?
Operating profit was $5.0M (8.9% of revenue) and net earnings $4.6M.
Source: Graham 10-Q on SEC EDGAR.