Karman Holdings posts record revenue in Q4, beating estimates

Karman Holdings

25/03/2026 20:22

Overview

U.S. space and defense systems maker reported record revenue in Q4, up 47.4% yr/yr, beating analyst expectations

Adjusted EPS for Q4 more than tripled from prior year

Company raised 2026 revenue and adjusted EBITDA outlook after recent acquisitions and record backlog

Outlook

Karman raises 2026 revenue outlook to $715 mln-$730 mln

Company sees 2026 adjusted EBITDA between $207 mln and $218 mln

Karman says strong market conditions and acquisitions support increased 2026 outlook

Result Drivers

MISSILE PROGRAMS & HYPERSONICS - Growth in Hypersonics and Strategic Missile Defense revenue was driven by expanded strategic missile programs, progress on NGI, higher classified program volumes, and increased activities supporting hypersonic test beds

TACTICAL MISSILES & DRONES - Revenue growth in Tactical Missiles and Integrated Defense Systems was driven by demand for advanced drone and loitering munitions technologies and increased production rates for GMLRS

SPACE & LAUNCH ORDERS - Space and Launch revenue growth was supported by timing of orders for critical content for legacy and emerging launch providers, including liquid fueled rocket engines, partially offset by lower crewed mission cadence and SLS revenue

Company press release: ID:nBwZNYxya

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$134.49 mln
$132.64 mln (10 Analysts)
Q4 EPS
$0.06
Q4 Net Income
$7.71 mln
Q4 EBIT
$21.06 mln
Q4 Gross Profit
$53.61 mln
Q4 Pretax Profit
$13.56 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for Karman Holdings Inc is $125.00, about 22.7% above its March 24 closing price of $101.84

The stock recently traded at 155 times the next 12-month earnings vs. a P/E of 120 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)