Filing Flows › Graham (GHM) › Q2 FY27
Graham (GHM) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Nov 5, 2026
Graham (GHM) reported revenue of $69.8M for the second quarter fiscal 2027 (Q2 FY27), +6% from a year earlier and -2% from the quarter before. Operating margin was 8.4%, net earnings $4.6M (6.6% of revenue).
Graham, Q2 FY27: revenue $69.8M (+6% year over year), operating margin 8.4%, net earnings $4.6M, operating cash flow $46.7M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $69.8M | -2% | +6% |
| Gross profit | $19.7M | +11% | +38% |
| Operating profit | $5.8M | +40% | +37% |
| Net earnings | $4.6M | +19% | +50% |
| Operating cash flow | $46.7M | — | +244% |
| Free cash flow | $44.5M | — | +371% |
What changed
Revenue was $69.8M in Q2 FY27, up 6% year over year and down 2% from the previous quarter. Defense was the largest line at 66% of revenue. Defense added $5.1M year over year (up 12%), 136% of the total change. Energy and Process declined 17%.
Gross margin was 28.2%, up 6.5 points from Q2 FY26. Operating profit was $5.8M, a 8.4% margin (up 1.9 points year over year). Of the extra revenue versus Q2 FY26, 42% reached operating profit, above the 6% margin then. Operating expenses grew 38% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+183%). Net earnings were $4.6M, up 50% year over year. The effective tax rate was 22.3%.
Operating cash flow was $46.7M (up 244% year over year), 1008% of net earnings. Non-cash charges added back $2.7M of depreciation and amortization and $782K of share-based compensation. Working capital and other items added $38.6M. Capital expenditures of $2.2M left free cash flow of $44.5M.
Questions
What was Graham's revenue in the second quarter fiscal 2027?
Graham (GHM) reported revenue of $69.8M for the second quarter fiscal 2027 (Q2 FY27), +6% from a year earlier and -2% from the quarter before.
Was Graham profitable in the second quarter fiscal 2027?
Operating profit was $5.8M (8.4% of revenue) and net earnings $4.6M.
Source: Graham 10-Q on SEC EDGAR.