Category: Manufacturing

Release – Graham Corporation Reports First Quarter Fiscal 2027 Results

Posted on by [email protected]
Graham Corporation

Research News and Market Data on GHM

August 06, 2026 6:30am EDT Download as PDF

First Quarter Fiscal 2027 Highlights:

  • 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.”

1 Adjusted 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.
2 Orders, 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.

View full release here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260805783838/en/

For more information, contact:

Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Tom Cook
Investor Relations
(203) 682-8250
[email protected]

Source: Graham Corporation

Released August 6, 2026

Lilly’s Quarter Confirmed It: Obesity Is Pharma’s Most Valuable Real Estate

Posted on by [email protected]

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.

Superior Group of Companies (SGC) – Branded Products Powers Earnings Growth

Posted on by [email protected]


Wednesday, August 05, 2026

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. 


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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. 

Titan International (TWI) – A Solid 2Q26 But Still Waiting on Ag Rebound

Posted on by [email protected]


Friday, July 31, 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.

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.


Get the Full Report

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. 

AZZ (AZZ) – AZZ Acquires Seattle Galvanizing Company, Inc.

Posted on by [email protected]


Friday, July 31, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Acquisition of Seattle Galvanizing Company. AZZ Inc. announced the acquisition of Seattle Galvanizing Company, Inc., a privately held provider of both hot-dip and spin galvanizing solutions that is headquartered in Arlington, Washington. The acquisition expands AZZ Metal Coatings’ geographic footprint into the Pacific Northwest by establishing a platform to serve both hot-dip and spin galvanizing customers across Washington, Oregon, Idaho, Western Montana, and Alaska from two Seattle-area locations. Seattle Galvanizing Company will be integrated into AZZ Metal Coatings’ existing network of hot-dip galvanizing and spin plants, increasing its total network to 43 sites in North America.

The Pacific Northwest’s Largest Galvanizer. Founded in 1962, Seattle Galvanizing has built a strong reputation for quality, service, and technical capability and has the capacity to process over 50,000 tons of steel. The first state-of-the-art hot-dip galvanizing facility features a 45-foot kettle, the largest in the Pacific Northwest, that will enable AZZ to process larger and more complex steel structures. A second and recently completed 38,000-square-foot spin galvanizing location was purpose-built to coat small to medium-sized metal components.


Get the Full Report

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. 

Release – Titan International, Inc. Reports Second Quarter Financial Results

Posted on by [email protected]
Titan International, Inc. logo. (PRNewsFoto/Titan International)

Research News and Market Data on TWI

News provided by

Titan International, Inc. 

Jul 30, 2026, 06:00 ET

WEST CHICAGO, Ill., July 30, 2026 /PRNewswire/ — Titan International, Inc. (NYSE: TWI) (“Titan” or the “Company”), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported financial results for the second quarter ended June 30, 2026. The full earnings release including a reconciliation of GAAP to Non-GAAP figures can be found in the investor relations section of the Company’s website at https://ir.titan-intl.com/news-and-events/news-releases/default.aspx.

Q2 2026 Key Figures

  • Revenues grew 5.2% to $484 million
  • Gross margin improved to 15.5%
  • Adjusted EBITDA increased 13.3% to $34 million
  • Free Cash Flows generated $26 million

Paul Reitz, President and Chief Executive Officer, commented, “We were once again able to report solid results in the second quarter, with revenues toward the high end of our guidance range and Adjusted EBITDA that exceeded guidance.  Consumer was our best-performing segment, with 27% growth versus the prior year period as our Titan Specialty business experienced solid end customer demand.  Our EMC segment grew 1.4% in the quarter as construction end markets moderated from the stronger growth levels experienced in prior periods.  Lower farm incomes and elevated financing costs continued to impact our Ag segment, leading to sales being down 5% in the quarter.  Overall, we had a strong quarter with revenues up over 5%, higher gross margin and increased Adjusted EBITDA.  Another highlight of the quarter was our free cash flow performance of $26 million, reflecting strong working capital improvement.”

Mr. Reitz continued, “Over the past several years we have made significant progress in diversifying our business, with our three reporting segments each accounting for between 30% and 40% of our revenues in the quarter. Those segments are organized by end market, resulting in valuable diversification that supports continued, solid financial results even as conditions vary across these end markets.  Underpinning our customer relationships is a broad portfolio of products, strategically positioned global plants, and a one-stop shop distribution channel, all supported by our phenomenal One Titan team, which in combination allows us to be strategic in how we support our customers.” 

Mr. Reitz concluded, “At the macro level, many global industries remain challenged by significant uncertainty, including some of the markets we serve.  Against that backdrop Titan continues to succeed, delivering solid financial performance with year-over-year growth.  That is an achievement we are proud of and a testament to both our strategic plan and how we operate our business on a daily basis.”

Third Quarter and Fiscal Year 2026 Outlook

Tony Eheli, Chief Financial Officer added, “We currently expect third quarter sales of between $440 million and $460 million, and Adjusted EBITDA of between $27 million and $33 million. We are also maintaining our previously communicated full-year guidance of sales between $1.85 and $1.95 billion and Adjusted EBITDA of between $105 million and $115 million.”

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.

Safe Harbor Statement

This press release contains forward-looking statements. These forward-looking statements are covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “plan,” “would,” “could,” “potential,” “may,” “will,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, these assumptions are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond Titan International, Inc.’s control. As a result, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results and trends to differ materially from those made, projected, or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to, the effect of a recession on the Company and its customers and suppliers; changes in the Company’s end-user markets into which the Company sells its products as a result of domestic and world economic or regulatory influences or otherwise; changes in the marketplace, including new products and pricing changes by the Company’s competitors; the Company’s ability to maintain satisfactory labor relations; unfavorable outcomes of legal proceedings; the Company’s ability to comply with current or future regulations applicable to the Company’s business and the industry in which it competes or any actions taken or orders issued by regulatory authorities; availability and price of raw materials; levels of operating efficiencies; the effects of the Company’s indebtedness and its compliance with the terms thereof; changes in the interest rate environment and their effects on the Company’s outstanding indebtedness; unfavorable product liability and warranty claims; actions of domestic and foreign governments, including the imposition of additional tariffs; geopolitical and economic uncertainties relating to the countries in which the Company operates or does business; risks associated with acquisitions, including difficulty in integrating operations and personnel, disruption of ongoing business, and increased expenses; results of investments; the effects of potential processes to explore various strategic transactions, including potential dispositions; fluctuations in currency translations; risks associated with environmental laws and regulations; risks relating to our manufacturing facilities, including that any of our material facilities may become inoperable; risks relating to financial reporting, internal controls, tax accounting, and information systems; and the other risks and factors detailed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those reports. These forward-looking statements are made only as of the date hereof. The Company cautions that any forward-looking statements included in this press release are subject to a number of risks and uncertainties, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason, except as required by law.

SOURCE Titan International, Inc.

The Machine That Builds Every Advanced Chip Just Got Some Competition

Posted on by [email protected]

Shares of ASML Holding, the Dutch company that has held a near-monopoly on the machines used to manufacture the world’s most advanced semiconductors, fell 5.8% Monday after a report from The Information cited sources familiar with the matter saying China is developing its own deep ultraviolet lithography machines. Other chipmakers dipped on the news before paring some of the losses later in the session, part of a broader mixed trading day in which the Dow closed higher while technology and energy stocks lagged behind gains in consumer staples and consumer discretionary names, a pattern consistent with the rotation away from crowded AI-adjacent positions that has been building for weeks.

The significance of the ASML report is difficult to overstate for anyone tracking global technology supply chains. Lithography machines are the single most critical piece of equipment in semiconductor manufacturing, using precisely controlled light to etch circuit patterns onto silicon wafers at scales measured in nanometers. ASML is the only company in the world capable of producing the most advanced version of this equipment, extreme ultraviolet lithography systems, giving it an effective monopoly over the tools required to manufacture cutting-edge chips.

Why This Matters Beyond One Stock

Deep ultraviolet lithography, while a step below the most advanced extreme ultraviolet systems, is still essential equipment for manufacturing a wide range of semiconductors, including chips used in automotive, industrial, and mid-tier computing applications. US and allied export restrictions have blocked China from accessing ASML’s most advanced tools for years, part of a broader effort to slow Chinese progress in cutting-edge chip manufacturing. If China has made genuine progress developing its own DUV capability domestically, it represents a meaningful step toward reducing that dependency, even if true extreme ultraviolet capability remains years away.

A Sector Already on Edge

This report did not land in a vacuum. Chip stocks have been under sustained pressure for weeks as investors grow increasingly skeptical about the pace and sustainability of AI-related capital expenditure, a concern that deepened after last week’s earnings from Tesla and Alphabet confirmed both companies are continuing to spend heavily on AI infrastructure. Markets are also bracing for the Federal Reserve’s policy decision this week, with traders now pricing in at least a modest probability of a rate move as early as this meeting. Investors are still awaiting quarterly guidance this week from Microsoft, Amazon, Apple, and Meta, each expected to offer further detail on AI infrastructure spending across the industry.

Against that backdrop, the ASML supply chain story adds an entirely new dimension of uncertainty. It is no longer just a question of whether AI infrastructure spending will pay off, or whether the Fed holds steady. It is now also a question of whether the equipment monopoly underpinning the entire global chip manufacturing hierarchy is beginning to erode.

What It Means for Smaller Semiconductor Companies

For investors tracking companies below the $2 billion market cap threshold in the semiconductor equipment, materials, and components space, this development is worth watching closely rather than reacting to immediately. A genuine shift in China’s domestic manufacturing capability would reshape global supply chains over years, not days, and smaller companies supplying specialized components, materials, or services into either the established ASML-centric supply chain or an emerging China-based alternative could see their competitive positioning shift meaningfully depending on how this plays out.

The semiconductor equipment monopoly that has underpinned global chip manufacturing for over a decade just showed its first real crack. Whether that crack widens into something structural, or turns out to be an overstated report, will be one of the more important supply chain stories to track through the rest of this year.

Release – Graham Corporation Announces First Quarter Fiscal Year 2027 Financial Results Conference Call and Webcast

Posted on by [email protected]
Graham Corporation

Research News and Market Data on GHM

July 23, 2026 8:00am EDTDownload as PDF

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM), 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, and Process industries, announced that it will release its first quarter fiscal year 2027 financial results before financial markets open on Thursday, August 6, 2026.

The Company will host a conference call and webcast to review its financial and operating results, strategy, and outlook. A question-and-answer session will follow.

First Quarter Fiscal Year 2027 Financial Results Conference Call

Thursday, August 6, 2026
11:00 a.m. Eastern Time
Phone: (877) 407-0784 or (201) 689-8560 (International)
Internet webcast link and accompanying slide presentation: ir.grahamcorp.com

A telephonic replay will be available from 3:00 p.m. ET on the day of the teleconference 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, and 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260723668244/en/

Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Tom Cook
Investor Relations
Phone: (203) 682-8250
[email protected]

Source: Graham Corporation

Released July 23, 2026

Release – CVG Announces Second Quarter 2026 Earnings Call

Posted on by [email protected]
CVG-Corporate

Research News and Market Data on CVGI

July 21, 2026

NEW ALBANY, Ohio, July 21, 2026 (GLOBE NEWSWIRE) — Commercial Vehicle Group (the “Company” or “CVG”) (NASDAQ: CVGI) will hold its quarterly conference call on Tuesday, August 4, 2026, at 8:30 a.m. ET, to discuss second quarter 2026 financial results. CVG will issue a press release and presentation prior to the conference call.
        
Toll-free participants dial (833) 461-5787 using conference code 592968497. International participants dial (585) 542-9983 using conference code 592968497. This call is being webcast and can be accessed through the “Investors” section of CVG’s website at ir.cvgrp.com where it will be archived for one year.

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.

Investor Relations Contact:
Ross Collins or Nathan Skown
Alpha IR Group
[email protected]                                                                                                                                                                                                                                                                                                                                                       

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Source: Commercial Vehicle Group, Inc.

NN (NNBR) – Further Expansion in the Defense Industry

Posted on by [email protected]


Tuesday, July 21, 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.

Contract Manufacturing. NN continues to expand into new and adjacent segments, providing the Company with strong growth opportunities, in our view. Most recently, NN successfully entered the Tier 1 contract manufacturing industry for firearm components in the United States market.

Details. NN’s contract manufacturing agreement is to mass-produce completed firearms products for a leading provider of firearms products in the U.S. This new business begins in the third quarter and will continue ramping up through 2028. This new business is expected to add between $12 million and $15 million in sales. Due to the multipart complexity of this new product line, these products are now the highest-priced products in the Company’s portfolio of new products.


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*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. 

Release – NN, Inc. Expands Contract Manufacturing of Weapons Components, Secures New Awards with Leading Firearms Provider

Posted on by [email protected]
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PDF Version New capabilities position Company to pursue additional global defense opportunities

CHARLOTTE, N.C., July 20, 2026 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) (“NN” or the “Company”), a global diversified industrial company that engineers, co-develops and manufactures precision components and assemblies with six sigma quality, today announced entry into a brand-new market segment for the company. The company has successfully entered the Tier 1 contract manufacturing industry for firearm components in the United States market. The key components of this successful market entry are:

  • Turnkey Tier 1 contract manufacturing
  • Collaborative product development
  • Additive manufacturing during prototyping
  • High volume titanium machining
  • High volume laser welding and assembly
  • Multiple surface treatment advancements including ceramic surface coating, physical vapor deposition, and nanocomposite diamond-like carbon coating
  • ATF and FFL compliance program
  • CMMC Tier 2 certification program
  • TISAX Tier 2 certification program
  • ITAR compliance program
  • Encrypted communications portal that is CMMC, NIST, ITAR and HIPAA compliant
  • Attendance at weapons shows in the United States

NN has entered into a contract manufacturing agreement to mass produce completed firearms products for a leading provider of firearms products in the United States. This new business for NN was achieved after a multi-year effort that required:

  • New products
  • Titanium machining breakthroughs
  • Surface treatment breakthroughs
  • Specialized equipment investments
  • Multi-year collaborative innovation program with a leading brand owner

This new product category is included within NN’s business growth program in Defense & Electronics. This new business begins in Q3 and will continue ramping up through 2028. This new business is expected to add between $12 million to $15 million in sales.

Growth in Defense & Electronics is a key component of the company’s 5-point growth plan. It is a direct application and natural extension of its in-house capabilities into a new market. Including these new wins, NN has won 20+ new programs worth >$30 to $35 million per year over the last 3 years. The company also has an additional pipeline in Defense & Electronics of $75 million of opportunities and has recently hired a Defense industry specialist. Of note, the company is evaluating the manufacturing of munitions for attack drones.

NN has a multi-product game plan within its Defense & Electronics growth program.

  • Gold and silver plating of critical electronics modules that are contained in advanced weapon systems
  • Complicated metal fabrications that are key components within guidance and weapon systems
  • High-end machined parts that are components in firearms (the focus on this article)

The US defense market is at record spending levels with a 5-year outlook to keep growing. Specific to this new set of awards, the US firearms market is growing due to increased emphasis on baseline safety.

The company is employing a large portion of its US footprint to make products for the defense, electronics, and weapons markets. NN now has 8 plants that are ITAR compliant. This enables the company to have a wide aperture onto these markets with a broad product offering of machined parts, stamped parts, plated parts, and assemblies.

Harold Bevis, President and Chief Executive Officer of NN, Inc., commented, “This is a nice advancement for NN’s sales growth program into new markets. It is another direct payoff on the investments we are making to establish premier positions in high-value markets. A tremendous amount of collaborative innovation occurred between the brand owner and NN over the last couple of years on this program. Many prototypes and many samples were iterated in order to arrive at the perfect next-generation product performance.

“We are creating additional competitive barriers by adding distinguishing factory credentials for this new market – ATF and FFL compliance, ITAR compliance, CMMC Tier 2 certification, and TISAX Tier 2 certification. These credentials enhance participation in these markets.

“A fun fact that is due to the multipart complexity of this new product line is that these products are now the highest-priced products in the company’s portfolio of new products. Prices will range from $200 to $500 for each product.”

Bevis concluded, “NN is underway with a multi-year program of sales-driven earnings improvements and this is another building block. Our Defense products growth program is achieving victories. The Defense & Electronics business is already nearly $60 million in sales, and we have a 5-year goal for it to grow to $100 million. It is one of our most profitable segments also due to higher value-add. Our 5 pillars of entrepreneurial break-out growth continue to be focused upon: data center and electric grid, defense and electronics, medical products, high-value vehicle products, and high-value stamped products.

“We will combine this new information along with recent new wins in Data Center and Medical products and adjust 2026 guidance, if needed, for sales, adjusted EBITDA, and New Wins when we release Q2 2026 earnings on August 6. We look forward to discussing this new advancement further at that time.”

Suppressor Pieces and Assembled Product

Suppressor Pieces and Assembled Product

About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, South America, Europe, and China. For more information about the company and its products, please visit www.nninc.com.

Forward-Looking Statements
This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the future growth of NN’s medical business, including NN’s expectations regarding current and future customers and programs, the size and future outlook of the medical market, including robotics-assisted surgery, NN’s competitive position in the medical market, expected new business wins for 2026, and NN’s 2026 performance and other statements that are not historical facts.

Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “achieve,” “growth,” “enable,” “improve,” or the negative of these terms, and similar words, phrases or expressions that convey uncertainty of future events or outcomes. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; inflationary pressures and material changes in the costs and availability of raw materials, supply chain shortages and disruptions, the availability of labor and labor distributions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the restrictions contained in our debt agreements; the level of our indebtedness and our ability to financing at favorable rates, if at all, or to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; the impact on climate change on our operations; economic, social and geopolitical instability, military conflict, currency fluctuations, and other risks of doing business outside of the United States; and uncertainty of government policies and actions in respect to global trade and tariffs, including the potential impacts of tariffs on the United States economy, the economy of other countries in which we conduct operations and our industry, cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the U.S. Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

Investor & Media Contact: 
Joe Caminiti 
[email protected]
312-445-2870

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61d19ca6-3e6b-47f3-9c62-952b9e443c8a

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Release – Titan International, Inc. to Announce Second Quarter 2026 Financial Results on July 30

Posted on by [email protected]
Titan International, Inc. logo. (PRNewsFoto/Titan International)

Research News and Market Data on TWI

Jul 14, 2026

CHICAGO, July 14, 2026 /PRNewswire/ — Titan International, Inc. will release its second quarter 2026 financial results before the opening of the market on Thursday, July 30, 2026 to be followed by a teleconference and webcast on Thursday, July 30, 2026 at 9:00 a.m. Eastern Time.

The real-time, listen-only webcast can be accessed using the following link https://events.q4inc.com/attendee/185351132 or on our website at www.titan-intl.com within the “Investor Relations” page under the “News & Events” menu (https://ir.titan-intl.com/news-and-events/events/default.aspx).  Listeners should access the website at least 10 minutes prior to the live event.

In order to participate in the real-time teleconference, with live audio Q&A, participants should use the following dial in number:

United States (Toll-Free): 1 833 461 5787
All Other Locations:  https://help.events.q4inc.com/eahc/international-dial-in-numbers
Participants Access Code / Meeting ID: 185 351 132

A webcast replay of the teleconference will be available on our website (https://ir.titan-intl.com/news-and-events/events/default.aspx) soon after the live event. 

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.

Titan International, Inc. logo. (PRNewsFoto/Titan International)

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/titan-international-inc-to-announce-second-quarter-2026-financial-results-on-july-30-302825250.html

SOURCE Titan International, Inc.

AZZ (AZZ) – First Quarter FY27 Financial Results Exceed Expectations; Guidance Raised

Posted on by [email protected]


Thursday, July 09, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

FY 2027 First Quarter Financial Results. AZZ reported adjusted net income of $55.8 million, or $1.85 per share, compared to $53.8 million, or $1.78 per share, during the prior year period. We had forecast adjusted net income of $51.4 million or $1.70 per share. Compared to the first quarter of FY 2026, sales increased 6.3% to $448.5 million. Adjusted EBITDA amounted to $99.5 million compared to our estimate of $96.8 million. Compared to the prior year period, first quarter Metal Coatings sales were up 12.3% to $210.3 million, while Precoat Metal sales increased 1.5% to $238.2 million. First quarter segment adjusted EBITDA margin amounted to 30.3% for Metal Coatings and 21.7% for Precoat Metals.

FY 2027 Corporate Guidance. Management now expects FY 2027 sales in the range of $1.80 to $1.85 billion, compared to previous expectations of $1.725 to $1.775 billion. Adjusted EBITDA is expected to be in the range of $375 to $415 million, compared to prior guidance of $360 to $400 million. Adjusted EPS is now projected to be $6.75 to $7.15 versus prior expectations of $6.50 to $7.00.


Get the Full Report

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.