Cirrus Aircraft (2507) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 increased 24% year-over-year to $737 million, driven by robust demand, product innovation, and higher aircraft deliveries.

• Net income rose 35.6% to $88.1 million, with profit margin improving to 12%.

• Orders rose from 241 to 398 units, and deliveries increased 16% to 405 aircraft, with a richer mix of premium models.

• Backlog reached 1,059 aircraft, supported by new product launches and strong order demand.

• The company launched the G3 Vision Jet and introduced the TRAC10 training aircraft, expanding its product portfolio.

Financial highlights

• Gross profit increased 24.2% to $267 million, with gross margin stable at 36.2%.

• Adjusted EBITDA rose 33.6% to $136 million; adjusted net income up 35% to $88 million.

• Operating profit increased 31% to $109.8 million.

• Free cash flow was $74.7 million, a significant improvement from prior year.

• Cash and cash equivalents rose to $379 million as of June 30, 2026.

Outlook and guidance

• Revenue growth is targeted at 8%-12% year-over-year, aiming for stable, sustainable expansion.

• Services revenue is expected to grow from 15%-16% of total revenue toward 20%-25% over the next few years.

• Production growth will align with market expansion and capacity improvements, with Grand Forks expansion alleviating bottlenecks.

• Focus remains on product improvement, model upgrades, and expanding the ecosystem of services.

• No interim dividend declared for the period.