CHICAGO, Oct. 8, 2026 /PRNewswire/ — Titan International, Inc. will release its third quarter 2026 financial results before the opening of the market on Thursday, October 29, 2026 to be followed by a teleconference and webcast on Thursday, October 29, 2026 at 9:00 a.m. Eastern Time.
About Titan: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.
CHARLOTTE, N.C., Oct. 08, 2026 (GLOBE NEWSWIRE) — NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global leader in precision manufacturing, today announced that it had completed an important balance sheet transaction.
The Company has redeemed, paid off and eliminated all of its remaining 18,400 outstanding shares of its Series D Perpetual Preferred Stock, par value $0.01 per share (the “Preferred Stock”) for approximately $30.7 million.
The redemption was funded with proceeds raised from the Company’s $53.1 million private investment in public equity (PIPE) private placement completed on October 5, 2026. Additionally, the timing of this action enabled the Company to take advantage of a $5.0 million incentive provided under a prior agreement with the sole holder of the security. Thus, the $35.7 million value of the security was redeemed for $30.7 million.
This security has now been eliminated from NN’s balance sheet. No shares of the Preferred Stock remain outstanding. All of the holder’s rights associated with the Preferred Stock have also been eliminated. This completes an important stepping stone in the transformation of NN, its capital structure, and its business plan.
Harold Bevis, President and CEO of NN, commented, “NN has significantly deleveraged during 2026. We will use this newly created capital flexibility to accelerate our business plans. We also intend to refinance our Term Loan at the right time and further improve our capital structure. The Company will provide updated guidance during our next earnings call on October 29th, 2026.”
About NN, Inc.
NN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company specializing in manufacturing micron-tolerance precision metal componentry for high-growth end markets, especially Data Center, Electric Grid, Medical, Defense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700 customers on 4 continents through its 2,700 person workforce operating out of 27 global plants. This footprint enables rapid innovation and globally scaled solutions. For more information, visit nninc.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our most recently filed Form 10-K and our Form 10-Q for the period following that Form 10-K, including the risk factors described therein. We undertake no obligation to update any forward-looking statement, except as required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.
The US trade deficit jumped to $105.6 billion in August, a 13.8% increase from July’s revised $92.8 billion and the widest gap since early 2025, the Commerce Department reported Tuesday. Imports rose 4.3% to $420.8 billion, while exports rose just 1.4% to $315.2 billion.
The timing is notable. August was the first month after a new phase of tariffs took effect in late July, including a 10% tariff on top allies such as the European Union and a 12.5% tariff on other nations, including China. Importers also kept bringing in components for AI data centers. Semiconductor imports rose $2.4 billion, though computer accessory imports fell $1.6 billion, leaving overall AI-related imports little changed from July but still elevated.
A more significant driver was industrial supplies. Crude oil imports jumped $3.3 billion and nonmonetary gold imports rose $3.1 billion. The oil figure comes as crude prices have stayed elevated through the Iran conflict, and the gold figure arrives in a year when precious metals have rallied. The surge in goods imports lifted the goods deficit to $136.6 billion, while the services surplus stayed essentially flat.
Mexico remained the largest deficit at $27.7 billion. The gap with Canada widened by $4.1 billion to $7.1 billion in the month talks between the two countries collapsed and new 50% tariffs took effect, a dispute in which crude oil was left out of the tariffs. The deficit with China rose to $16.4 billion from $15.2 billion in July. That was before a visit by Chinese President Xi Jinping, which extended the current trade truce by two months, set a new early 2027 deadline for talks, and produced tariff cuts on an estimated $60 billion worth of goods.
The widening gap matters for growth. One forecasting firm said the jump in imports suggests third-quarter GDP growth will come in well below its 4.0% forecast, possibly closer to 2.5%, noting that the rise in goods imports was broad-based and left net trade as a drag overall. Imports subtract from GDP in the national accounts, so a surge can lower headline growth even when it reflects strong demand.
The next trade report will show whether August’s jump was a one-month surge or the start of a new run higher, and the early 2027 China deadline sets the next hard date for trade policy. Until then, a deficit above $100 billion suggests demand for imported goods remains strong even with higher tariffs in place.
For small and microcap investors, the report is a reminder that trade policy remains a live cost variable. Smaller manufacturers and importers have less room than multinationals to absorb tariff-driven input costs or reroute supply chains, though the extended China truce and announced tariff cuts offer some relief. Russell 2000 companies earn most of their revenue at home, so growth data matter as much as trade headlines, and a third-quarter GDP reading nearer 2.5% than 4.0% would feed into how investors read the Fed’s path after September’s rate hike.
CHARLOTTE, N.C., Sept. 22, 2026 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) a global leader in precision manufacturing, today announced that it is raising its full-year 2026 guidance ranges for Net Sales and Adjusted EBITDA.
Updated Full-Year 2026 Guidance
Metric
Prior Guidance
Updated Guidance
Net Sales
$460 million – $480 million
$470 million – $490 million
Adjusted EBITDA
$55 million – $65 million
$58 million – $68 million
Management’s updated guidance for 2026 Net Sales at midpoint is $480 million, up $58 million, or 14% versus full-year 2025 Net Sales.
Management’s updated guidance for 2026 Adjusted EBITDA at midpoint is $63 million, up $14 million, or 29% versus full-year 2025 Adjusted EBITDA.
Chief Executive Officer Harold Bevis commented, “Our business continues to build momentum as we ramp up in our key growth markets of Data Center, Defense & Electronics, and Medical, where demand for our solutions remains strong and actively expanding. Our year-to-date results and year-to-go forecast underpin this improved guidance and reflect the steady performance our growth and cost programs.
NN is continuing to invest forward in its 5 Pillar growth end markets and this is translating to increased success and higher results. Raising our full-year 2026 guidance for net sales and adjusted EBITDA reflects our confidence in the performance of the business. We remain focused on our balanced plans for delivering profitable growth and improved cost productivity for our customers and shareholders.”
NN, Inc. will provide additional detail and updated guidance when it reports third quarter 2026 results on October 28, 2026.
About NN, Inc. NN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company specializing in manufacturing micron-toleranced precision metal componentry for high-growth end markets, especially Data Center, Electric Grid, Medical, Defense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700 customers on 4 continents through its 2,550 person workforce operating out of 27 global plants. This footprint enables rapid innovation and global scaled solutions. For more information, visit nninc.com.
Forward Looking Statements This press release may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our most recently filed Form 10-K and our Form 10-Q for the period following that Form 10-K, including the risk factors described therein. We undertake no obligation to update any forward-looking statement, except as required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.
This press release contains certain financial measures not presented in accordance with U.S. generally accepted accounting principles (“GAAP”) such as adjusted EBITDA (the “non-GAAP financial measures”). These non-GAAP financial measures are not calculated in accordance with GAAP and should not be considered in isolation from, or as a substitute for, the most directly comparable GAAP measures, and may not be comparable to similarly titled measures used by other companies. Management uses these non-GAAP financial measures, together with the comparable GAAP measures, to evaluate the Company’s operating performance and underlying business trends across periods on a consistent basis, and to assist in operational and financial decision-making, including with respect to internal budgeting and resource allocation. Reconciliations of each non-GAAP financial measure to its most directly comparable GAAP measure are set forth in the tables accompanying this presentation. A reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures is not provided because the Company cannot reasonably predict certain items necessary for such reconciliation without unreasonable efforts.
Transaction expected to generate up to approximately $285 million in total cash value
WEST CHICAGO, Ill., Sept. 21, 2026 /PRNewswire/ — Titan International, Inc. (NYSE: TWI) (“Titan” or the “Company”), a leading global manufacturer of off-highway wheels, tires and undercarriage products, today announced that it has entered into a definitive agreement to sell its Italtractor ITM undercarriage business (“ITM”) to USCO S.p.A. (“USCO”).
Under the terms of the agreement, Titan will receive an initial purchase price of $207 million, plus the opportunity to receive an additional $6 million in earnout proceeds based on ITM’s achievement of specified performance criteria for 2026. The transaction is also subject to customary adjustments based on ITM’s specified net asset and financial position at closing, which Titan currently expects will provide approximately $23 million of additional cash value. In connection with the transaction, Titan has received or expects to receive $49 million in dividends from ITM, consisting of $38 million received in recent years and $11 million expected prior to closing. Taken together, these amounts are expected to provide Titan with up to approximately $285 million in total cash value, including the potential earnout.
For Titan, the transaction will allow the Company to sharpen its strategic focus on its core global wheel and tire operations serving the agricultural, construction and consumer markets. It will also significantly strengthen Titan’s financial position and provide greater flexibility to invest behind the Company’s highest-priority growth opportunities.
“It has been approximately ten (10) years since I left the President/CEO position to Paul Reitz and forty-three (43) years since Titan started with no employees and no sales. So, you might say I have seen a lot.The potential sale of ITM was first discussed with Titan’s Board of Directors over ten (10) years when Titan was approached with an offer of less than $100 million. The deal Paul and his team completed has required a lot of patience and I know I could not have gotten this deal done because I do not have that level of patience. This deal is good for Titan and good for USCO. TWI received a fair price, and USCO will now have a strong track manufacturing business with a good brand and great people.
Looking back a decade ago, the primary task for me was finding my replacement. Well, there is no doubt I chose the right man! Paul has led this team for over ten (10) years and done an excellent job. The last ten (10) years have been tough, but as President Trump said we are going into the Golden Age. India has been flooding our country with offroad tires and wheels using unfair practices as we have proven with the International Trade Commission. President Trump is focused on bringing back manufacturing to the USA, but it’s a difficult situation in our industry that requires people understanding real manufacturing of converting raw materials into finished products.I feel that the White House sometimes loses its way with financial people having too much of a say and not enough people that understand real manufacturing.
Our Board of Directors feels there are good opportunities out there to utilize the sale proceeds to explore the purchase of other businesses. TWI has a very bright future because of the depth of our product portfolio and manufacturing footprint. Titan is the world leader in both wheels and tires in the farm industry and let’s not forget the decades of investment we have made with technical engineering and tooling into the large Ag wheels and tires that we produce. Our innovation pipeline of new products has been strong in recent years for farm, industrial and consumer products, and we have been achieving this at competitive cost levels for our customers at the same time.
I am inflating my own ego, because of what Paul and his team pulled off with this transaction and how good I feel that Titan is entering the Golden Age of manufacturing. Paul has also put a group in TWI to make a push into Defense business. Which could be very large for Titan in the next few years. I am betting most of you reading this did not know that TWI made the first aluminum wheels for auto/pickup in the early 90’s. Today 100% of vehicle/passenger wheels are made in China, India and Japan. That means all cars and pickups could be stopped without wheels in USA! 80 million wheels each year are imported. That is $8 Billion dollars each year in income. Yes, I believe the Golden years are ahead, and TWI has proven leadership in Paul Reitz and his team. As the Pointer Sisters song goes ‘I’m so excited’ – that’s me an old man.
The last acquisition that Titan made was the Carlstar Group Wheels & Tires. So far, it has proven to be a really good deal. I should also mention that over the last few years, TWI has bought back over $100 million shares of TWI Common Stock with its cash flow. Paul’s team has done an excellent job. I hope the Golden Age of Manufacturing comes to the USA for TWI has the capacity to easily double production in wheels and tires. There are very few in this world that could make that statement. Thank you for taking the time to read this note.
In conclusion, I want to thank Cecilia La Manna for her invaluable service and many contributions to ITM and Titan.I’ve known Cecilia for nearly 30 years, and I’ve watched her grow into an incredible global business leader.Her determination and commitment is a significant reason why ITM is the business that it is today.USCO is getting much more than a good business and plants, they are getting a strong management team.Cecilia and her team will continue to do great things for USCO and lead them well into a prosperous future.
If you are ever in Illinois – Quincy or Freeport; Tennessee – Union City or Clinton; Bryan, Ohio, Sao Paulo, Brazil, Kidderminster, UK; Meizhou, China and Finale Emilia (list locations), I invite you as a Shareholder to stop in and see how our products are made.
— Maurice M. Taylor, Jr., Chairman of Titan’s Board of Directors
“This transaction is an important step forward in Titan’s transformation. We have worked hard to reach an agreement that delivers strong value for Titan and provides ITM with an owner that understands the undercarriage business and is committed to its future. The transaction will allow Titan to focus our people, capital and resources on our core global wheel and tire operations while giving us the financial capacity to pursue accretive growth opportunities and reduce debt. This transaction helps Titan to reshape its portfolio, accelerate strategic investments, pursue transformative acquisitions and partnerships, and create long-term value for our shareholders.”
— Paul Reitz, President and Chief Executive Officer of Titan
The transaction represents an important strategic step for both organizations. As part of USCO, ITM will have the opportunity to build on its position as a global provider of undercarriage components and complete undercarriage solutions, with additional focus and resources to support long-term growth, customer service, product innovation and geographic expansion. ITM designs, manufactures and distributes undercarriage systems and components for construction, mining, forestry, road-building and agricultural applications through a global manufacturing and distribution network.
Titan currently intends to use a portion of the transaction proceeds to reduce existing debt and strengthen its balance sheet. In future periods, the Company also expects to deploy capital toward key growth investments, including accretive acquisitions and strategic partnerships that expand Titan’s capabilities, strengthen its market positions and support the Company’s long-term transformation.
The transaction is expected to close early in January 2027, subject to the satisfaction of customary closing conditions, including required regulatory approvals and other customary conditions. Until closing, ITM and Titan will continue to operate in the ordinary course of business. The parties anticipate completion shortly following receipt of all required regulatory approvals.
Titan and ITM were advised by the law firm Gianni & Origoni on legal matters and by Poggi & Associati on tax matters. USCO has been assisted by Eidos Partners as financial advisor, by the law firm Simmons+Simmons and by BDO and KPMG as due-diligence consultants
ITM is a global designer, manufacturer and service provider of undercarriage components and complete undercarriage solutions. The business serves original equipment and aftermarket customers across construction, mining, forestry, road-building, agricultural and other specialized applications through an international manufacturing, service and distribution network. ITM is also a pioneer in undercarriage sensor technology, including its TRUST ITM® monitoring solution.
About Titan International, Inc.
Titan International, Inc. (NYSE: TWI) is a leading global manufacturer and supplier of wheels, tires and undercarriage products for a wide variety of off-the-road equipment. Titan serves aftermarket dealers and original equipment manufacturers across the agricultural, earthmoving, mining, construction and consumer sectors.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the expected closing of the transaction, the anticipated purchase-price adjustments and earnout payment, the total value expected to be realized by Titan, the intended use of proceeds, debt reduction, potential acquisitions and partnerships, future investments, and the expected benefits of the transaction to Titan and ITM. These statements are based on Titan’s current expectations and are subject to risks and uncertainties that could cause actual outcomes to differ materially.
These risks and uncertainties include, among others, the ability to obtain required regulatory approvals and satisfy other closing conditions; the timing or failure of the transaction to close; changes in ITM’s net financial or asset position; ITM’s ability to achieve the performance criteria associated with the earnout; foreign-exchange-rate fluctuations; Titan’s ability to reduce debt or identify and complete attractive acquisitions, partnerships or investments; and other risks described in Titan’s filings with the Securities and Exchange Commission. Titan undertakes no obligation to update any forward-looking statement except as required by law.
Exchange-rate note: U.S. dollar amounts are approximate and were translated using an exchange rate of €1.00 to $1.148 as of September 18, 2026.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Deere Call. We reviewed Deere’s (NYSE:DE) 3Q26 results and conference call. Selling into Titan’s key end markets of Agriculture, Construction, and Consumer, Deere’s forward commentary can give a solid overview of Titan’s end markets and potential for improvement. Based on Deere’s comments, 2027 should show improvement across the board for Titan.
Construction. Order books for 2026 are largely full as demand fundamentals remain favorable across both the earthmoving and road building end markets. Large-scale infrastructure projects, data center construction, and pipeline activity continue to support robust customer demand. As a result, customer backlogs now extend well into fiscal year 2027, providing healthy visibility and optimism for next year.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. SKYX Platforms just completed its 10th consecutive quarter of year-over-year growth. The Company is trending positively, generating record second quarter 2026 revenues. The Company’s builder and hotel segments are continuing to grow. With savings of up to 90% of time for installation or renovation, and up to 90% of the cost of renovation and installations, we believe SKYX’s value proposition is very strong in the hotels and builders segments. We believe the positive trends will continue to accelerate through the balance of 2026 as the Company continues to build out and execute on its channel strategy.
2Q26 Results. Revenue in 2Q26 rose 9.6% y-o-y to $25.27 million and was above our $24 million projection, with the increase due to an expansion of sales of SKYX products. The Company reported an adjusted EBITDA loss of $3.5 million, up slightly from last year’s $2.6 million loss. Net loss totaled $8.48 million, or $0.06/sh, versus a $9.1 million net loss, or $0.08/sh, in 2Q25.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
NEW ALBANY, Ohio, Aug. 10, 2026 (GLOBE NEWSWIRE) — Commercial Vehicle Group, Inc. (NASDAQ: CVGI), a diversified industrial products and services company, today announced that its Board of Directors has appointed Angie O’Leary as Executive Vice President and Chief Financial Officer, effective August 6, 2026.
Ms. O’Leary has served as Interim Chief Financial Officer since March 2026 and previously held the positions of Senior Vice President, Corporate Controller and Chief Accounting Officer. She brings extensive financial leadership experience and deep knowledge of CVG’s global operations, financial organization, and strategic priorities.
“Since stepping into the interim CFO role, Angie has demonstrated exceptional leadership, financial expertise and a strong commitment to our business,” said James Ray, President and Chief Executive Officer of CVG. “Her performance over the past several months has reinforced our confidence in her ability to lead our finance organization and help drive CVG’s long-term success. We are pleased to appoint Angie as our permanent Chief Financial Officer.”
Ms. O’Leary joined CVG in 2020 and has served in several key finance leadership positions. Throughout her tenure, she has played an important role in strengthening the company’s financial processes, supporting strategic initiatives and helping position CVG for sustainable growth.
“I am honored by the Board’s confidence and excited to continue serving as CVG’s Chief Financial Officer,” said Ms. O’Leary. “CVG has a talented global team, strong customer relationships and significant opportunities ahead. I look forward to partnering with James, our leadership team, and colleagues around the world as we continue executing our strategy and creating value for our stakeholders.”
As Chief Financial Officer, Ms. O’Leary will continue to oversee the company’s global finance organization, including financial planning and analysis, accounting, treasury, tax, investor relations and financial reporting.
About CVG
Commercial Vehicle Group, Inc. and its subsidiaries, is a global provider of systems, assemblies and components to global commercial vehicle markets and electric vehicle markets. We deliver real solutions to complex design, engineering, and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about the Company and its products is available on the internet at www.cvgrp.com.
Rich Scholes to lead commercialization strategy, capability-to-market alignment, and enterprise enablement initiatives to accelerate growth and optimize execution
BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Space, Energy & Process industries, today announcedthe appointment of Rich Scholes as Chief Growth and Enablement Officer.
In this newly created role, Mr. Scholes will lead Graham’s growth strategy and enterprise enablement, strengthening customer alignment, cross-functional execution, enterprise capabilities, and operational execution. He will advance the use of artificial intelligence, digital capabilities and enterprise-wide processes to enhance productivity, improve decision-making and support Graham’s long-term growth strategy.
Mr. Scholes brings more than two decades of executive leadership experience spanning strategy, business development, operational transformation, technology adoption and organizational development. He has a proven track record of helping organizations scale, enter new markets, strengthen customer relationships and implement technology-enabled solutions that improve growth and operational performance.
Matthew J. Malone, President and Chief Executive Officer of Graham Corporation, said, “Rich brings extensive experience developing and executing growth strategies, leading enterprise transformation and deploying technology to improve commercial and operational performance. His ability to connect strategy, people, processes and technology will be highly valuable as we continue scaling Graham and strengthening our position across our core markets. We look forward to Rich’s leadership as we deepen customer relationships, expand our commercial capabilities and invest in the tools and processes needed to support our long-term growth objectives.”
Most recently, Mr. Scholes served as a Partner at Pisteyo LLC, an artificial intelligence business consulting firm, where he advised executive teams on AI strategy, organizational readiness and the implementation of AI-enabled solutions across the manufacturing, aerospace, financial services, healthcare, and professional services sectors. During his tenure, he helped scale the firm to more than 50 clients and led engagements spanning strategy development through implementation.
Previously, Mr. Scholes held several executive leadership positions at Ent Credit Union, including Chief Strategy and Experience Officer. In that role, he led enterprise strategy, market expansion, digital banking, marketing and other operational functions while helping the organization more than double its assets and significantly expand its geographic presence. Earlier in his career, he served as Executive Vice President and Chief Operating Officer of Blue Federal Credit Union and Chief Operations Officer of Rogue Credit Union. He also spent seven years with Nice Enterprises, where he advised management teams and boards on strategic planning and organizational development.
Mr. Scholes holds a Master’s Degree in Organizational Leadership from Gonzaga University and a Bachelor of Science in Biology from Santa Clara University.
About Graham Corporation
Graham is a global leader in the design and manufacture of mission-critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Space, Energy & Process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise, proprietary technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Record net sales of $71.3 million, increased 29% compared to the prior year reflecting strength of diversified revenue base
Gross profit increased 21% to $17.8 million; Gross profit margin was 25.0%
Net income per diluted share was $0.33; Adjusted net income per diluted share(1) was $0.49
Adjusted EBITDA (1) increased 28% to $8.8 million; Adjusted EBITDA margin(1) was 12.3%
Orders (2) were $95.9 million; Book-to-Bill (2) ratio of 1.3x and record backlog (2) of $557.2 million
Strengthened balance sheet with $27.0 million in cash and no outstanding debt following $50.0 million stock issuance and repayment of $13.0 million of debt during the quarter
Reaffirming full year fiscal 2027 guidance
BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Space, and Energy & Process industries, today reported financial results for its first quarter for the fiscal year ending March 31, 2027 (“fiscal 2027”).
Graham’s President and Chief Executive Officer, Matthew J. Malone stated, “Our first quarter results reflect continued disciplined execution and give us confidence as we look ahead to the remainder of fiscal 2027. Our revenue growth was across all of our business units, and bookings remained strong, which we believe, along with our record backlog, positions us well to achieve our long-term growth and profitability goals.”
Mr. Malone continued, “At our Investor Day in June 2026, we introduced our three-year financial framework as we enter our next phase of growth which reflects the favorable tailwinds we see across our end markets. As we execute against our strategy, we remain focused on converting these opportunities into profitable growth, expanding margins and delivering long-term value for our shareholders.”
1Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. See attached tables and other information for important disclosures regarding Graham’s use of these non-GAAP measures.
2Orders, backlog and book-to-bill ratio are key performance metrics. See “Key Performance Indicators” below for important disclosures regarding Graham’s use of these metrics.
First Quarter Fiscal 2027 Performance Review (All comparisons are with the same prior-year period unless noted otherwise.)
Net sales for the first quarter of fiscal 2027 were $71.3 million, up $15.9 million, or 29%, compared with the first quarter of fiscal 2026, reflecting the strength of our diversified revenue base, as well as the acquisition of FlackTek, which added $6.6 million to revenue during the quarter. The increase for the quarter was across multiple markets, including an $11.8 million, or 40%, increase in sales to the Defense market, primarily due to the timing of project milestones, as well as new programs and growth in existing programs. Sales to the Space market increased $2.9 million, or 86%, over the prior year first quarter, due to new programs and the ramp up of existing programs, as well as the FlackTek acquisition. Sales to the Energy & Process markets increased $1,098, or 5%, as increases in Aftermarket sales are partially offset by push outs on large capital project activity. Aftermarket sales to the Energy & Process and Defense markets of $9.7 million remained strong, increasing 20% over the first quarter of the prior year.
Gross profit for the first quarter of fiscal 2027 was $17.8 million or 25.0% of sales, compared with $14.7 million, or 26.5% of sales, in the prior-year period. The 150-basis point decline in gross profit margin reflects the mix of sales in the first quarter of fiscal 2027, and in particular, a higher level of Defense sales and material receipts, which carry a lower profit margin.
Selling, general and administrative expense (“SG&A”), including intangible amortization, for the first quarter of fiscal 2027 increased $3.2 million or 33%, over the prior year first quarter. Acquisition and integration expenses contributed $0.6 million of the increase compared to the prior year first quarter. Additionally, incremental SG&A from the acquisition of FlackTek accounted for $1.8 million of the increase. The remaining increase primarily reflects investments the Company is making in its people, processes, and technology, which we expect to be approximately $2.5 million of incremental costs for fiscal 2027, partially offset by a reduction in costs related to the Barber-Nichols Performance Bonus, which is no longer in effect in fiscal 2027. During the first quarter of fiscal 2026, the Company recorded $1.1 million related to the Barber-Nichols Performance Bonus, inclusive of applicable payroll taxes and no corresponding expense was recorded in the first quarter of fiscal 2027.
Cash Management and Balance Sheet
Cash and cash equivalents as of June 30, 2026, were $27.0 million, compared with $6.6 million in the previous quarter. During the quarter, the Company strengthened its balance sheet through a $50.0 million investment from accounts advised by T. Rowe Price, of which $13.0 million of the proceeds were used for debt repayment, with the remaining proceeds expected to fund future organic and inorganic growth opportunities.
Net cash used by operating activities was $12.7 million during the first quarter of fiscal 2027, primarily due to the timing of billing and collection of accounts receivable and unbilled revenue and customer deposits, as well as the payment of fiscal 2026 bonuses, including the Barber-Nichols Performance Bonus, during the quarter.
Capital expenditures, net for the first quarter of fiscal 2027 were $2.6 million, focused on capacity expansion, increasing capabilities, and productivity improvements.
The Company had no debt outstanding as of June 30, 2026, with $74.5 million available on its revolving credit facility after taking into account outstanding letters of credit.
Orders, Backlog, and Book-to-Bill Ratio
See supplemental data filed with the Securities and Exchange Commission on Form 8-K and provided on the Company’s website for a further breakdown of orders and backlog by market. See “Key Performance Indicators” below for important disclosures regarding Graham’s use of these metrics ($ in millions).
Orders for the first quarter of fiscal 2027 were $95.9 million, compared with $125.9 million in the prior year first quarter, which included $86.5 million of follow-on orders to support the U.S. Navy’s Virginia Class Submarine program. Order activity in the quarter continued to reflect strong demand in the Defense market, including approximately $61.8 million of new and follow-on orders to support the U.S. Navy’s Columbia and Virginia Class Submarine programs, as well as to provide mission-critical hardware for the MK48 Mod 7 Heavyweight Torpedo. Space market orders totaled $14.4 million, or 2.3x net Space sales for the quarter. Total Aftermarket orders for the Energy & Process and Defense markets increased 5% to $10.9 million and FlackTek contributed $13.2 million to orders during the quarter or 2.0x net FlackTek sales.
Note that our orders tend to be lumpy given the nature of our business (i.e. large capital projects) and in particular, orders to the Defense industry, which span multiple years and can be significantly larger in size.
Backlog at quarter end was a record $557.2 million, a 15% increase over the prior-year period, driven by strong bookings in the Defense and Space markets, and contributions from the FlackTek acquisition. For the quarter, the Company achieved a book-to-bill ratio of 1.3x, continuing momentum from a book-to-bill ratio of 1.5x in FY 2026. Approximately 35% to 40% of orders currently in backlog are expected to be converted to sales in the next twelve months, another 20% to 25% are expected to convert to sales within one to two years, and the remaining beyond two years. Approximately 84% of our backlog as of June 30, 2026, was to the Defense industry, which provides stability and visibility for future revenue.
Fiscal 2027 Outlook
Graham’s Chief Financial Officer, Christopher J. Thome, said, “Our first quarter results reflect the discipline we have applied across the business, and we enter fiscal 2027 with a stronger, more flexible balance sheet and no outstanding debt. This financial flexibility supports our ability to continue investing in both organic and inorganic growth while maintaining the operating discipline that has defined our performance.”
Mr. Thome continued, “With our first quarter results in line with our expectations, we are reaffirming our full year fiscal 2027 guidance. We remain focused on converting our record backlog into profitable growth as we execute throughout the remainder of the year.”
Webcast and Conference Call
GHM’s management will host a conference call and live webcast on August 6, 2026, at 11:00 a.m. Eastern Time (“ET”) to review its financial results as well as its strategy and outlook. The review will be accompanied by a slide presentation, which will be made available immediately prior to the conference call on GHM’s investor relations website.
A question-and-answer session will follow the formal presentation. GHM’s conference call can be accessed by calling (877) 407-0784, or (201) 689-8560 (International). Alternatively, the webcast can be monitored from the events section of GHM’s investor relations website.
A telephonic replay will be available from 3:00 p.m. ET today through Thursday, August 13, 2026. To listen to the archived call, dial (844) 512-2921 and enter conference ID number 13761669, or access the webcast replay via the Company’s website at ir.grahamcorp.com, where a transcript will also be posted once available.
About Graham Corporation
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Space, Energy & Process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise, proprietary technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “continue,” “estimate,” “expects,” “focus,” “future,” “opportunities,” “outlook,” “believes,” “could,” “guidance,” “may”, “will,” “plan,” “strategy,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, profitability of future projects and the business, its ability to deliver to plan, its ability to continue to strengthen relationships with customers in the Defense industry, its ability to secure future projects and applications, expected expansion and growth opportunities, anticipated sales, revenues, adjusted EBITDA, adjusted EBITDA margins, capital expenditures and SG&A expenses, the timing of conversion of backlog to sales, orders, market presence, profit margins, tax rates, foreign sales operations, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, and its acquisition and growth strategy, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission (the “SEC”), included under the heading entitled “Risk Factors”, and in other reports filed with the SEC.
Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
Eli Lilly jumped as much as 7% Wednesday after another quarter that made one thing clear: the appetite for weight-loss drugs isn’t slowing down. For small-cap investors, though, the trillion-dollar stock isn’t the story. What that demand does to the hunt for the next obesity drug is.
First, the quarter. Lilly raised its 2026 revenue forecast to a range of $85 billion to $87 billion, up from a prior ceiling near $85 billion, and beat on adjusted earnings — all powered by its GLP-1 franchise. It has momentum behind it, too: the FDA approved Foundayo, the pill version of its weight-loss drug, earlier this year, and next-generation candidate retatrutide is on track for an FDA filing early next year. The stock has climbed more than 40% since late April.
Here’s the read-through for the small end of the market.
Obesity is now the most valuable franchise in all of pharma, and the two giants that own it — Lilly and Novo Nordisk — are in a full sprint to stay ahead. That sprint runs straight through small-cap biotech. Building a differentiated metabolic drug from scratch is slow and uncertain; buying one that already has promising human data is faster. Big pharma has shown, again and again, that it will pay enormous premiums for early obesity and metabolic assets. Every small-cap sitting on a credible next-generation candidate — an oral GLP-1, an amylin, a muscle-sparing combination — is wearing a target because of quarters like this one.
There’s a second, quieter beneficiary: the supply chain. A demand curve this steep needs manufacturing, and that lifts the unglamorous names that make it possible — the peptide contract manufacturers, the auto-injector and drug-delivery specialists, and now the oral-formulation capacity that Foundayo’s approval just validated. It’s the same picks-and-shovels logic behind the bioprocessing consolidation we’ve watched all summer: when a therapy category explodes, the companies supplying the tools get pulled along, and often bought.
Now the discipline, because this is where enthusiasm gets expensive. Obesity biotech is binary and badly overcrowded. For every small-cap with a genuine shot at the next blockbuster, a dozen are running me-too molecules that will quietly fail in the clinic. And many of the credible names already trade on takeout hope, which means a chunk of the premium is baked in before any deal is announced. The filter is differentiated, de-risked clinical data — an asset the giants can’t easily replicate and would rather buy. Everything else is a lottery ticket.
The takeaway is simple. The mega-cap headline is demand. The small-cap opportunity is the arms race that demand is funding. Lilly’s quarter didn’t just reward Lilly shareholders — it reminded every deal team in pharma that owning the future of obesity may be cheaper to buy than to build. Watch the small-caps holding data the giants can’t ignore.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
An impressive earnings beat. Q2 revenue increased 2.6% to $147.8 million, while adjusted EBITDA rose 26.6% to $7.7 million and adjusted EPS more than doubled to $0.21. The results beat our estimates of $143.8 million, $6.5 million, and $0.08 per share, respectively.
Branded Products powers the recovery. Revenue advanced 6.2%, and segment EBITDA increased 24.9% to $11.2 million, supported by a favorable customer mix, improved sourcing, and growing volumes from existing customers. Management indicated that the segment has favorable operating momentum into the second half.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. Titan’s second quarter results reflect solid improvement from the prior year. The Company continues to benefit from its diverse business model, even in the face of ongoing challenging Agriculture end markets. This quarter, it was the Consumer segment that drove performance. Titan’s one-stop-shop product and distribution strategy is a key element of the diverse business model, in our view.
2Q26 Results. Driven by a 27.2% increase in Consumer segment revenue, Titan’s consolidated revenue grew 5.2% to $484 million in the second quarter. This was towards the high end of management’s guidance. We were at $480 million. Adjusted EBITDA of $34 million was up 13.3% y-o-y and exceeded the high end of management’s guidance. We were at $29 million. Titan reported quarterly net income of $6.3 million, or $0.09/sh, partly driven by tariff refund recoveries.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
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