10-Q · March 17, 2026
Frequency Electronics, Inc. reported a decline in Q3 FY2026 results with revenue of $17 million, falling short of estimates by $2.8 million, and EPS of $0.16, missing expectations by $0.14. The company experienced…
Earnings analysis · 10-Q
FEIM earnings analysis
Filed September 14, 2026 · Our reading of the company's report
The latest report
Frequency Electronics delivered a very strong fiscal Q1 2027, with $23.451 million of revenue and $0.41 diluted EPS, substantially above consensus and materially ahead of the prior quarter. Gross margin of 45.84% and…
Read full summary
Frequency Electronics delivered a very strong fiscal Q1 2027, with $23.451 million of revenue and $0.41 diluted EPS, substantially above consensus and materially ahead of the prior quarter. Gross margin of 45.84% and operating margin of 22.17% reflected a sharp recovery from the prior quarter’s 1.0% and negative 41.2%, respectively. The $129 million funded backlog and maintained target of at least $150 million in fiscal 2029 support a bullish operating trend, although the 10-Q provides no new risk-factor updates or quantitative EPS outlook.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.41
What stood out
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Record revenue and major beat
Q1 fiscal 2027 revenue was $23.451 million, up from $15 million in the prior quarter and 31.38% above the $17.85 million consensus estimate.
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Strong EPS outperformance
Diluted EPS was $0.41 versus $0.15 expected, a $0.26 beat; EPS also improved from a $0.50 loss in the prior quarter.
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Sharp margin recovery
Gross margin expanded to 45.84% from 1.0% in the prior quarter, while operating margin rose to 22.17% from negative 41.2%, indicating substantial operating leverage.
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Backlog supports long-term target
Funded backlog reached $129 million, supporting management’s maintained target of at least $150 million in annual revenue by fiscal 2029.
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Meaningful repurchase capacity remains
The company’s $20.0 million share-repurchase authorization remained largely unused, with approximately $19,009,026 available at July 31, 2026.
What to watch
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No new risk-factor disclosure
The filing states there were no material updates or changes to the risk factors from the Form 10-K as of July 31, 2026; therefore, customer concentration, execution, and other previously disclosed risks remain applicable.
Management's outlook
Management maintained its target of at least $150 million of annual revenue by fiscal 2029, ending April 30, 2029; no numeric EPS guidance was provided.
Earlier filings 4
10-Q · December 15, 2025
Frequency Electronics, Inc. reported a 2.5% increase in revenue to $17.1 million for Q2 2026, compared to $16.6 million in Q1 2026, driven by growth in the FEI-Zyfer segment. However, diluted EPS fell to $0.18 from the…
10-Q · September 15, 2025
Frequency Electronics, Inc. reported a decline in both revenue and earnings for Q1 FY2026, with total revenue of $13.8 million, down 8.4% from $15.1 million in Q1 FY2025. Gross margin reduced significantly from 44.4% to…
10-K · July 18, 2025
Frequency Electronics, Inc. reported significant growth in fiscal year 2025, achieving total revenues of $69,811,000, a 26.3% increase from the previous year. The net income surged to $23,686,000 from $5,594,000…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.