AEVEX shares jump 10% after raising 2026 revenue outlook to $840 million
Key Facts
AEVEX shares jumped 10% in after-hours trading on Wednesday, November 11, 2026, after the company raised its full-year revenue outlook following its third-quarter results. The company lifted its 2026 revenue outlook range to $820–840 million from $700–720 million previously. The new range midpoint is $830 million, above analysts’ consensus of $754.6 million, according to Investing.com. The company also raised its adjusted EBITDA outlook to $128–132 million from $105–111.5 million. The CEO said quarterly performance, end-market demand and the addition of BlackSea bolstered management’s confidence in raising its full-year outlook.
Revenue reached $189.7 million in the third quarter, the three months ended September 30, 2026, up 56.5% from $121.2 million in the same period of 2025. Adjusted EBITDA increased to $30.8 million, with a 16.2% margin, from $17.8 million and a 14.6% margin a year earlier. But the operating improvement coincided with a net loss of $16.8 million, compared with net income of $9.9 million in the third quarter of 2025. The company also reported a net loss of $0.40 per share for the quarter ended September 30, 2026. Coverage does not establish that the quarter’s results themselves beat analysts’ expectations; the clear comparison with consensus relates to the midpoint of the revised annual revenue outlook.
Performance varied across the company’s segments during the quarter: revenue from Aviation Systems rose 67.1% to $147.8 million, while Global Solutions revenue fell 10.7% to $27.5 million. The company said growth in Maritime Systems revenue was largely due to its acquisition of BlackSea Technologies on September 8, 2026. The deal created AEVEX’s third reportable segment, alongside Aviation Systems and Global Solutions. The CEO linked the decision to raise the outlook to the addition of BlackSea, as well as quarterly performance and end-market demand. He said, "The strength of our third-quarter performance, end-market demand and the addition of BlackSea give us confidence to raise our full-year outlook."
The results come as the company described demand for affordable, field-proven autonomous systems as strong, noting that customers are seeking platforms that can move quickly from development to large-scale production. On November 10, a day before announcing results, AEVEX announced a multiyear IDIQ contract for a U.S. customer, with a ceiling approaching $400 million. In the first nine months of 2026, cash flow from operations was $40.8 million, compared with an outflow of $14.1 million a year earlier, while free cash flow was $34.6 million. The company said about 96% of the midpoint of its 2026 adjusted revenue outlook is already supported by funded contracts. Management did not provide formal 2027 guidance, warning that contract-award timing can shift between periods, particularly for large production orders, and that its assumptions are based on temporary funding measures not continuing for extended periods and no significant changes in the contracting and funding environment.
The stock had risen 4.57% during the regular session on November 11 to $12.13, then climbed 10.06% after hours to $13.35, according to Investing.com’s coverage of the earnings call. AEVEX held its third-quarter earnings call on November 11 at 5:00 p.m. U.S. Eastern time. Management is scheduled to present at the Baird Global Industrial Conference in Chicago on November 12 at 2:45 p.m. Eastern time. This follows second-quarter 2026 revenue of $201.8 million, up 99.5% from $101.1 million in the second quarter of 2025; third-quarter revenue was lower than the prior quarter. These figures put the year-over-year revenue increase in the context of a decline between the second and third quarters, while contracts, demand and returns from the addition of BlackSea are central to the company’s raised outlook.