Taylor Devices FY2026: Revenue Down 10%, Backlog Nearly Doubles to $52.8M
TAYD sits 37% above its 52-week low of $40.5.
Summary
Taylor Devices reported FY2026 revenue down 10% to $41.65M, but backlog nearly doubled to $52.8M, now 92% aerospace/defense. Net income fell 9% to $8.56M. A new fraud-related third-party claim was disclosed in the 432 Park litigation.
Key Events · Earnings and Guidance · TAYD
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FY2026 Revenue Declines 10%
Net revenue fell to $41.65M from $46.29M, driven by a 31% drop in structural sales to $10.26M. Aerospace/defense sales were flat at $27.52M and now represent 66% of total revenue.
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Backlog Nearly Doubles to $52.8M
Backlog increased from $27.1M to $52.8M, with 92% from aerospace/defense customers. Includes a $19.0M non-project order with deliveries scheduled through fiscal 2030.
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Net Income Falls 9% to $8.56M
Net income was $8.56M vs $9.41M prior year. Diluted EPS was $2.62 vs $2.87. Gross margin declined to 44% from 46%.
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New Fraud Action in 432 Park Litigation
On June 15, 2026, the Owner filed an amended complaint alleging fraud against the Sponsor. LendLease filed a third-party complaint naming the Company, but agreed to discontinue claims against the Company related to the Fraud Action. Loss not estimable.
Analysis · TAYD · Technology
Annual results show a 10% revenue decline driven by a 31% drop in structural sales, but the backlog nearly doubled to $52.8M, now 92% aerospace/defense. That mix shift toward higher-margin defense work and a $19M multi-year order provide revenue visibility through 2030. The company also disclosed a new fraud-related third-party claim in the 432 Park litigation, though it expects to be dismissed from that portion. Net income fell 9% to $8.56M, but the balance sheet remains strong with $41.5M in cash and short-term investments and no debt.
At the time of this filing, TAYD was trading at $55.35 on NASDAQ in the Technology sector, with a market capitalization of approximately $178.2M. The 52-week trading range was $40.50 to $90.37. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.