10-Q · July 20, 2026
Park Aerospace delivered a strong fiscal first quarter: revenue increased 18.9% year over year to $18.312 million, gross margin expanded 420 basis points to 34.8%, and diluted EPS rose to $0.17 from $0.10. Operating…
Earnings analysis · 10-Q
PKE earnings analysis
Filed October 13, 2026 · Our reading of the company's report
The latest report
Park delivered strong second-quarter results: revenue rose 26.9% to $20.791 million, gross margin expanded to 34.3%, operating margin was approximately 22.8%, and diluted EPS increased 75.0% to $0.21. Liquidity improved…
Read full summary
Park delivered strong second-quarter results: revenue rose 26.9% to $20.791 million, gross margin expanded to 34.3%, operating margin was approximately 22.8%, and diluted EPS increased 75.0% to $0.21. Liquidity improved to $114.749 million, supported by $26.3 million of net ATM proceeds, although receivables and inventories rose 35% and 21%, respectively. The outlook is operationally constructive, with management expecting a facility investment of approximately $65 million, but the scale of that project and limited $1.270 million six-month operating cash flow are important execution and cash-conversion risks.
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
- $0.21
- Segment
- Military and commercial markets: sales increased, while general aviation sales declined; the filing does not provide quantified revenue by market or operating segment.
What stood out
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Sales growth accelerated
Second-quarter net sales rose 26.9% year over year to $20.791 million from $16.381 million, driven by higher military and commercial sales despite lower general aviation sales and a $0.9 million tariff-refund impact.
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Margins and operating profit improved
Gross margin expanded to 34.3% from 31.2% year over year, a 310-basis-point improvement, while operating earnings increased 66.3% to $4.732 million from $2.845 million.
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EPS beat estimates
Diluted EPS increased 75.0% to $0.21 from $0.12 and exceeded the reported $0.16 consensus estimate by $0.05, or 31.25%. Net earnings rose 88.6% to $4.534 million.
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Liquidity strengthened
Cash and cash equivalents plus marketable securities increased to $114.749 million from $89.368 million at March 1, 2026, primarily due to $26.3 million of net ATM offering proceeds and improved earnings.
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Operating cash flow turned positive
Operating cash flow improved to an inflow of $1.270 million from an outflow of $0.527 million in the prior-year six-month period. Capital expenditures were $0.469 million versus $0.664 million, implying relatively low reported capex intensity.
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Equity funding expanded resources
The company completed the ATM program during the quarter, selling 869,852 shares at an average price of $31.24 for $26.3 million of net proceeds; working capital rose $31.070 million to $133.784 million.
What to watch
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Working capital is absorbing cash
Receivables increased 35% and inventories increased 21% versus March 1, 2026, while six-month operating cash flow was only $1.270 million. Working-capital growth could constrain cash conversion if customer collections or expected demand weaken.
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Large planned facility investment
Management plans a new Tulsa facility with an expected cost of approximately $65 million, compared with only $0.469 million of property, plant and equipment spending during the first 26 weeks. The project creates execution and capital-allocation risk despite reported liquidity of $114.749 million.
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Customer and supplier concentration risk
Certain customer programs face supply-chain issues involving other suppliers that could delay production; customer contracts are primarily requirements-based and do not guarantee quantities. The company also has an estimated €36.0 million commitment to purchase C2B product through December 2033.
Management's outlook
No explicit numeric revenue or EPS guidance was provided. Management expects to build a new composites manufacturing and development facility with an estimated cost of approximately $65 million and believes its financial resources are sufficient for the 12 months following filing and the foreseeable future.
Earlier filings 4
10-K · May 29, 2026
Park Aerospace Corp. (PKE) reported an 18% increase in revenue for fiscal year 2026, totaling $73.30 million, driven by growth in military and commercial aircraft markets. The company's operating margin improved to…
10-Q · January 13, 2026
Park Aerospace Corp. reported strong third-quarter fiscal 2026 results with revenues increasing 20.3% year-over-year to $17.3 million and diluted EPS rising 87.5% to $0.15. The gross profit margin improved significantly…
10-Q · October 14, 2025
Park Aerospace Corp. reported a slight decrease in revenue for Q2 2026, generating $16.4 million, down 2% year-over-year, but net earnings grew 16.4% to $2.4 million driven by improved gross margins. Management…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.