CPI Aerostructures (CVU) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased 15.8% year-over-year to $17.6 million, driven by defense programs, with six-month revenue rising 14.3% to $34.9 million.

• Net income for Q2 2026 was $685,615, reversing a net loss of $1.3 million in Q2 2025; six-month net income was $1.9 million versus a $2.6 million loss last year.

• Gross margin improved significantly to 22.0% for Q2 2026 from 4.4% in Q2 2025, primarily due to prior-year contract termination impacts.

• Adjusted EBITDA improved to $1.4M in Q2 2026 from $(1.7)M, and to $3.5M for six months from $(2.5)M, even when normalizing for the A-10 program.

• Backlog at June 30, 2026 was $533.1M, with $62M in new contract awards and 95% attributable to government and military contracts.

Financial highlights

• Q2 2026 revenue: $17.6M (+15.8% YoY); six months: $34.9M (+14.3% YoY).

• Q2 2026 gross profit: $3.9M (22.0% margin); six months: $8.4M (23.9% margin).

• Q2 2026 net income: $0.69M ($0.05/share); six months: $1.92M ($0.15/share).

• Adjusted EBITDA Q2 2026: $1.4M; six months: $3.5M.

• Q2 2026 SG&A expenses were $2.68M (+0.8% YoY); six months: $5.33M (-3.0% YoY).

Outlook and guidance

• Entered H2 2026 with strong backlog and customer confidence, expecting continued financial improvement and momentum into 2027.

• Management expects existing resources to meet working capital needs for at least the next 12 months.

• Focus remains on disciplined program execution, quality, and delivery performance.