Karman Posts Record Q3: Revenue $202M, Net Income $21M, Guidance Raised
KRMN sits 19% above its 52-week low of $29.34.
Summary
Karman reported record Q3 2026 results — $202 million revenue (+65.6%), $21 million net income (+174%), $61 million adjusted EBITDA — and raised full-year guidance to $755-760 million revenue on a record $1.7 billion backlog.
Updates
· Reuters — Karman Holdings Inc reported quarterly adjusted earnings of 19 cents per share for the quarter ended September 30, versus the mean expectation of 15 cents per share from fourteen analysts.
- Earnings Per Share — Reported EPS for the quarter was 16 cents, while Wall Street expected results to range from 13 cents to 18 cents per share.
- Revenue vs Estimates — Revenue rose 65.6% to $201.62 million, versus analysts' expected revenue of $194.70 million for the quarter.
- Net Income — Quarterly net income was $20.91 million.
All 5 details
- Analysts expected revenue of $194.70 million for the quarter
- Wall Street expected results to range from 13 cents to 18 cents per share
- Reported EPS for the quarter was 16 cents.
- Quarterly net income was $20.91 million.
- Revenue rose 65.6% to $201.62 million versus analysts' $194.70 million estimate.
Key Events · Earnings and Guidance · KRMN
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Record Q3 Revenue and Profit
Revenue hit $201.6 million, up 65.6% YoY with 25% organic growth; net income was $20.9 million (+174%) and diluted EPS $0.16 vs $0.06 a year ago.
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Adjusted EBITDA Up 60%
Adjusted EBITDA reached $60.5 million with a 30.0% margin; adjusted EPS was $0.19 vs $0.10 in the prior-year quarter.
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Backlog Doubles to $1.7 Billion
Backlog rose 108% versus fiscal year-end 2025, with nearly $465 million of quarterly bookings including the seven-year Lockheed Martin THAAD shroud contract.
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FY2026 Guidance Raised
Full-year 2026 outlook lifted to $755-760 million revenue and $225-227 million adjusted EBITDA, excluding future acquisitions.
Analysis · KRMN · Manufacturing
Karman beat its own trajectory across every line: revenue up 65.6% to $202 million, net income up 174% to $21 million, and adjusted EBITDA up 60% to $61 million. The bigger story is the demand backlog — $1.7 billion at quarter-end, more than double fiscal year-end 2025, with nearly $465 million booked in the quarter including the seven-year Lockheed Martin THAAD contract. Management raised full-year 2026 guidance to $755-760 million revenue and $225-227 million adjusted EBITDA, which tells you the second half is running ahead of prior plans. The one soft spot is Space and Launch, down 6.9% YoY on launch-schedule timing, and free cash flow of $13 million remains thin against $35 million of nine-month capex as the company digests acquisitions.
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In the 30 days to Nov 6, 2026, 44.9% of the 1410 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.36%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, KRMN was trading at $35.02 on NYSE in the Manufacturing sector, with a market capitalization of approximately $4.3B. The 52-week trading range was $29.34 to $118.38. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.