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BUTLER NATIONAL CORPORATION ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS

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BUTLER NATIONAL CORPORATION ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS

– Operating income rose 32% on 1.5% increase in revenue
– Earnings Per Share increased to $0.06 from $0.03

NEW CENTURY, Kan., Sept. 11, 2025 /PRNewswire/ — Butler National Corporation (OTCQX: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the first quarter of fiscal 2026 (the three months ended July 31, 2025).

Butler National Corporation was established in 1960 through the merger of an aviation research firm and the National Connector Corporation. Butler National operates in the Aerospace and Professional Services (Gaming) business segments. (PRNewsfoto/Butler National Corporation)

Historical selected financial data related to all operations:

(In thousands, except shares and per share data)

Three Months Ended July 31

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2025

2024

Revenue

$ 20,125

$ 19,828

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Operating Income

$ 4,667

$ 3,536

Net Income

$ 3,685

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$ 2,246

Total Assets

$ 130,283

$ 112,298

Long-term liabilities

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$ 32,399

$ 33,770

Stockholders’ Equity

$ 65,243

$ 65,114

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Weighted Average Shares – Diluted

66,922,924

68,738,247

Earnings Per Share

$ 0.06

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$ 0.03

Management Comments

President and CEO, Christopher J. Reedy, said, “Our results for the first quarter are a strong start to fiscal year 2026 and represent the commitment of our entire team to enhancing performance. First quarter revenue increased 1.5%, operating income increased 32%, and net income increased 64%, as compared to the same period in fiscal 2025. Gains in the Aerospace Products segment drove the positive results along with continued growth in sports wagering.”

“The results reflect a 7% revenue increase in the Aerospace Products segment in the first quarter, which is strongly attributed to Butler-Tempe (Special Mission Electronics) production efficiencies, stocking required parts, focus on expedited fabrication of key components and increased deliveries. The Aircraft Avionics business had a sizable increase in both operating income and revenue, driven in part by reduced costs from the divestment of the autopilot repair business that occurred in the third quarter of last fiscal year,” continued Mr. Reedy.

“On June 16, 2025, our New Century, Kansas hangar was damaged by a third-party airplane landing on the roof. The Avcon team overcame interruptions by using our adjacent hangar and worked overtime on our airplane modification projects. The hangar has now been restored. Installation refinement continues with the King Air B300 airplane door expansion project. The King Air airplane used as our prototype was damaged by the hangar incident and the airplane is in the process of being repaired,” noted Mr. Reedy.

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“During the first quarter of fiscal 2026, we invested approximately $0.6 million in the development and production of new products. These products resulted in additional Federal Aviation Administration (FAA) Supplemental Type Certificate (STC) approvals, including the European regulatory-driven requirement of non-halon portable fire extinguishers in all Learjets. We obtained STC approval for non-halon replacement portable fire extinguishers in all Learjets. Additionally, developments continue with the new gun control housing, cable designs and tooling for our minigun products. We believe expenditures for design and development engineering, testing, and certification of new products are essential to grow Aerospace Products, help stabilize our long-term revenue and enhance our future profits,” continued Mr. Reedy.

“The 2% increase in the amount of legacy gaming revenue share paid to the State of Kansas beginning December of 2024, and the economic challenges in the Dodge City region, resulted in a Professional Services revenue decrease by 5% in the first quarter of fiscal 2026 to $8.8 million compared to $9.2 million in the first quarter of fiscal 2025,” explained Mr. Reedy.

“As previously announced, we repurchased 2.41 million shares of our outstanding common stock during the first quarter, which demonstrates our commitment to maximizing stockholder value. We anticipate utilizing the five million dollars the Board of Directors authorized in July for future stock repurchases,” concluded Mr. Reedy.

Business Segment Highlights

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Aerospace Products:

Revenue increased 7% to $11.3 million in Q1 FY2026, compared to $10.6 million in Q1 FY2025. The increase in revenue is primarily due to a $1.2 million increase in Special Missions Electronics and a $1.0 million increase in Aircraft Avionics. Costs, inclusive of labor and material costs, decreased 12% in Q1 FY2026 to $6.6 million compared to $7.5 million in Q1 FY2025. Costs were 58% of segment total revenue in Q1 FY2026, as compared to 71% of segment total revenue in Q1 FY2025. Expenses, inclusive of general, administrative & other expenses, increased 7% in Q1 FY2026 to $1.8 million compared to $1.7 million in Q1 FY2025. This represents an operating margin of 25% in Q1 FY2026, compared to 13% in Q1 FY2025 (operating income as a percentage of revenue).

Professional Services:

Revenue from Professional Services decreased 5% in Q1 FY2026 to $8.8 million compared to $9.2 million in Q1 FY2025. The mobile sports wagering revenue increased to $1.3 million in Q1 FY2026 compared to $1.0 million in Q1 FY2025. Traditional casino gaming revenue decreased $0.6 million compared to the same quarter prior year. Costs increased less than 1% in Q1 FY2026 to $3.9 million compared to $3.9 million in Q1 FY2025 and expenses decreased 3% in Q1 FY2026 to $3.1 million compared to $3.2 million in Q1 FY2025.

Our Business:

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Butler National Corporation operates in the Aerospace and Professional Services business segments. The Aerospace Products segment includes the design, manufacture, sale and service of structural modifications, design, integration and installation of electronic equipment, systems and technologies that enhance aircraft operations, and the design, manufacture and sale of defense related articles. Additionally, we operate Federal Aviation Administration (the “FAA”) Repair Stations. Companies in Aerospace Products concentrate on products and services for Learjet, Textron Beechcraft, King Air, and Textron Cessna turboprop aircraft. Butler National-Tempe designs and manufactures robust electronic controls and cabling. The Professional Services segment includes the management of a gaming and the related dining and entertainment facility in Dodge City, Kansas. Boot Hill Casino and Resort features approximately 500 slot machines, 15 table games and a DraftKings branded sportsbook.

Forward-Looking Information:
Statements made in this report, other reports and proxy statements filed with the Securities and Exchange Commission, communications to stockholders, press releases, and oral statements made by representatives of the Company that are not historical in nature, or that state the Company or management intentions, hopes, beliefs, expectations or predictions of the future, may constitute “forward-looking statements” within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements can often be identified by the use of forward-looking terminology, such as “could,” “should,” “will,” “intended,” “continue,” “believe,” “may,” “expect, ” “anticipate,” “goal,” “forecast,” “plan,” “guidance” or “estimate” or the negative of these words, variations thereof or similar expressions. Forward-looking statements are not guarantees of future performance or results. They involve risks, uncertainties, and assumptions. It is important to note that any such performance and actual results, financial condition or business, could differ materially from those expressed in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in Item 1A of the Company’s Annual Report on Form 10-K, incorporated herein by reference. Risk Factors and elsewhere herein or in other reports filed with the SEC. Other unforeseen factors not identified herein could also have such an effect. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time, except as expressly required by federal securities laws.

FOR MORE INFORMATION, CONTACT:

David Drewitz, Public Relations

david@creativeoptionscommunications.com

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www.creativeoptionscommunications.com

Ph (972) 814-5723

Butler National Corporation Investor Relations

Ph (913) 780-9595

THE WORLDWIDE WEB:
Please review www.butlernational.com for pictures of our products and details about Butler National Corporation and its subsidiaries.

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Dividend Stability and Regional Strength: The Case for Truist Financial (TFC)

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Dividend Stability and Regional Strength: The Case for Truist Financial (TFC)

Truist Financial Corporation (NYSE:TFC) is included among the 11 Best Bank Dividend Stocks to Buy.

Dividend Stability and Regional Strength: The Case for Truist Financial (TFC)

Photo by Annie Spratt on Unsplash

Truist Financial Corporation (NYSE:TFC) is a prominent American commercial bank with a strong footprint in the Southeast and Mid-Atlantic regions. Ranking among the top ten banks in the country, it enjoys a solid market position in high-growth states like Florida and Georgia. Recently, the bank has prioritized digital innovation and technology development to improve service delivery and remain competitive against fintech firms.

Regulatory compliance remains a key focus for Truist Financial Corporation (NYSE:TFC), as it operates under enhanced prudential standards and capital requirements as a Category III banking organization. Adhering to these standards is essential for sustaining its operations and long-term strategies. At the same time, Truist’s disciplined approach to capital management allows it to maintain financial stability while pursuing strategic growth opportunities, including potential mergers and acquisitions.

Truist Financial Corporation (NYSE:TFC) is also popular among investors because of its dividend policy. The company has been making regular payments to shareholders since 1997. Currently, it offers a quarterly dividend of $0.52 per share and has a dividend yield of 4.53%, as of September 24.

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While we acknowledge the potential of TFC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

EAD NEXT: 12 Best Stocks to Buy Now for Passive Income and 12 Best Retail Dividend Stocks to Buy Now

Disclosure: None.

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Financing opportunity: Q&A with Harold Pettigrew on the future of the CDFI Sector – Kresge Foundation

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Financing opportunity: Q&A with Harold Pettigrew on the future of the CDFI Sector – Kresge Foundation

As the community finance field enters a new era—shaped by economic uncertainty, shifting capital flows, and growing calls for accountability—how can CDFIs prepare for what’s ahead? The Kresge Foundation spoke with Harold Pettigrew, the president and CEO of the Opportunity Finance Network (OFN) to help answer that questionThis article is part of a series highlighting the impact of CDFIs and how the sector is adapting to the current environment. 

MD: CDFIs play a unique role in our financial ecosystem, often serving communities that mainstream banks overlook. Why are CDFIs so critical for advancing economic growth and creating opportunities in underserved communities?

HP: In every corner of America, CDFIs show that impact and financial performance aren’t at odds—they reinforce each other. We address market gaps and go where traditional capital doesn’t: listening first, solving for need, and providing capital to people and financing projects that strengthen families and communities. Whether it’s a small business on Main Street or a housing development in a rural town, CDFIs make investments that build wealth and create opportunities that reach people and communities that need it most. 

MD: CDFIs seem to have broad support in Congress, even when some administrations have looked to reduce funding or support. Is bipartisan support materially different today? What role has OFN played in telling the CDFI story and maintaining that support?

HP: Bipartisan support for CDFIs remains strong because our work cuts across political divides — we’re about creating jobs, building businesses and revitalizing communities. What’s different today is the urgency and scale of the need, and the growing recognition that CDFIs are essential partners in solving some of our nation’s toughest challenges. OFN and CDFIs tell real stories of impact—stories of people across the country whose lives and livelihoods have changed thanks to the capital provided by CDFIs. Through advocacy, research, and direct engagement with policymakers, we’ve elevated a clear, consistent message: For over 30 years, CDFIs have delivered results addressing market gaps in providing access to capital to communities across the country.  

MD: Beyond federal funding concerns, what are the current challenges and needs CDFIs are facing in their day-to-day efforts to support communities?

HP: CDFIs are navigating a complex economic environment— rising interest rates, tighter capital markets, and growing community needs are stretching our resources like never before. Many CDFIs are being asked to do more with less, while also investing in their own operations to scale effectively and sustainably. OFN is working to develop diverse pools of flexible capital, make deeper investments in talent and technology, and new policy frameworks that support and recognize the unique value CDFIs bring. The demand is clear —  what’s needed now is bold investments to meet the moment and craft new solutions for the future. 

MD: Philanthropies and community development departments of banks and insurance companies have always been crucial partners for CDFIs — how can they best support and invest in CDFIs right now?

HP: Our partners in philanthropy and financial services have been critical to the success of CDFIs, and now they have a critical opportunity to strengthen the CDFI industry for the future. That means moving beyond transactional grantmaking to long-term, trust-based partnerships. It means offering flexible, risk-tolerant capital that lets CDFIs innovate and expand, and it means investing in the infrastructure — people, systems, data — that helps us operate at scale.

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MD: What keeps you optimistic about the future of the CDFI sector?

HP: What keeps me optimistic is the impact and commitment I see every day, from the entrepreneurs we finance, to the communities we serve, to the CDFI leaders innovating with courage and conviction. The sector is growing, diversifying and deepening its impact. We’re not just responding to the moment — we’re helping define the future of expanded access to finance and financial services. And with every new loan, every new partnership, every life changed, we’re proving that when we expand access to opportunity — we don’t just finance projects, we shape the future of communities across the country.  

Harold Pettigrew is the President and CEO of Opportunity Finance Network (OFN) 

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Reimagining Finance: Derek Kudsee on Coda’s AI-Powered Future

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Reimagining Finance: Derek Kudsee on Coda’s AI-Powered Future

Derek Kudsee is a veteran of the enterprise software industry, with senior leadership roles at industry giants such as SAP, Salesforce, and Microsoft under his belt. So, when he took the helm as the new Managing Director for Unit4 Financials by Coda, ERP Today sat down with Kudsee to discuss his vision for Coda, the promise of agentic AI to make work feel lighter for finance teams, and his mission to transform the classic system of record into a dynamic system of intelligence for the Office of the CFO.

What was it about the opportunity at Unit4, and specifically the challenge of modernizing Coda, that convinced you to take this role? 

A rare combination of having a deeply trusted platform and a clear opportunity to reimagine the finance function drew me to Unit4, and specifically the Coda business. Some of the largest enterprise customers have been running on this platform for decades. I’ve been brought in to help these finance teams run more efficiently and provide greater insight through agent-driven automation. We live in a world where technology has converged in our consumer and professional lives. Therefore, modernization is not only about addressing complex systems, but also about enhancing the user experience. This combination of running a deeply trusted platform, reimagining its capabilities in an AI-driven world, and modernizing the user experience was attractive. 

Unit4 Financials by Coda’s goal is to deliver an “AI-fueled office for the CFO” using agentic AI. How will a finance team using Coda experience this in their day-to-day work? 

When one thinks of an AI-fueled Office of the CFO, it’s about having agents deep inside those finance processes that will suggest, explain, and act within guardrails that finance teams can set. The work should feel like the machine is performing tasks that were previously done manually or laboriously. 

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A simple example is in an accounts payable department. An agent can automate everything from invoice capture using AI-driven OCR, verify that the invoices are within policy, queue them for approval, send them to the respective individuals, and flag exceptions along the way. Users can see how the work feels lighter because the machine handles everything from capture to the final stage, including payment release. 

How do the AI functionalities offered by Coda differ from what competitors are offering right now? 

Many vendors today have a finance module. However, we aim to be the best standalone financial management system, not a generic suite. We’re not trying to be finance because we want to sell an HR or CRM system. That means we need to embed intelligence deeply within the finance processes so that the software acts, takes action, and performs activities for the finance function. For that, the agentic AI needs to operate with autonomy, understand financial context, and learn from user behavior. 

Moreover, fundamentally, Coda has always been built on a unified financial model. We’ve never had Accounts Payable separate from Accounts Receivable that needed to be consolidated. Our AI works on clean, structured data from day one, and that’s the foundation for accuracy. We don’t need to chase hype to incorporate AI. We’re going to redefine the finance function with AI at its core. 

How do you plan to balance the introduction of these cutting-edge innovations without disrupting the core stability that Coda is known for? 

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The safest way to modernize finance is to add certainty around the core, rather than disrupting it. Our core is why customers have been running Coda for 20-30 years. Thus, stability is not a nice-to-have; it’s non-negotiable. Our customers run mission-critical processes, and that trust is sacred to us. Therefore, every innovation we deliver, whether it’s UX modernization or AI, will be built on one simple principle: if it compromises stability, we don’t build it. We don’t ship it. 

With that rock-solid foundation in place, we can layer intelligence and usability on top. While some software providers are still determining the stability of their platform, we can offer customers the best of both worlds. They’ll have the reliability they’ve counted on for decades, and now we bring them the innovation they need to stay ahead. 

What This Means for ERP Insiders 

Your biggest enemy is decision latency. According to Kudsee, the primary challenge for modern finance is the gap between a business event occurring and the ability to respond intelligently. This decision latency, caused by fragmented data, batch processes, and manual workarounds that are standard in traditional ERP environments, prevents finance from being a proactive and strategic partner. Coda’s goal is to shrink that gap from weeks or days to near-real-time. 

Shift the ERP mindset from system of record to system of intelligence. For decades, the primary function of ERP finance modules has been to record transactions accurately. This is no longer sufficient, as Kudsee notes. A modern financial platform must function as a system of intelligence that not only records data but also analyzes, predicts, and automates actions within core financial processes, effectively acting as the intelligent brain of the CFO’s office. 

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Prioritize financial depth over suite breadth. Kudsee suggests that the single ERP for everything strategy can result in a finance module that is a jack-of-all-trades but master of none. The alternative approach is to prioritize depth and best-in-class functionality for the critical finance function. Instead of settling for the generic finance module within a larger suite, consider how a dedicated platform like Unit4 Financials for Coda, focused on deep financial control, insight, and automation, can deliver more agility and tackle core challenges, such as decision latency, more effectively. 

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