Graham Corp

GHM

Market cap $620M

Graham Corporation shares are up ~40% YTD as stronger orders, higher guidance, and improved profitability offset a softer Q2; management still targets higher FY26 gross margin and EBITDA. TTM revenue growth is ~16% with quarterly volatility; defense rose 32% in Q2, space 17%, and energy/process 11%, pushing book-to-bill to 1.3x and backlog to a record ~$500M. Gross margin expanded from ~7% in 2022 to ~25% in 2025, driven by mix, pricing, and execution; Q2 margin dipped 220 bps on tariffs, mix, and comps.

Graham Corporation has transitioned into a mission-critical defense solutions provider, driving robust order momentum and revenue growth. Despite strong sales and backlog, its margins remain compressed, with earnings growth lagging behind revenue expansion. Management's conservative guidance and lack of margin improvement raise caution, especially after significant share price appreciation.

Graham Corporation has generated returns of over 88% since early May, outperforming its Russell 2000 and Industrial peers by 4-5x in the process. Q2-26 results showed strong revenue growth and record backlog of $500M, yet margins declined mainly due to mix issues, and free cash flow remains negative. The lack of an upgrade in guidance is not ideal for a stock that is priced at a 70% premium on an EBITDA multiple basis and offers negative FCF yield.

Graham Corporation ( GHM ) Q2 2026 Earnings Call November 7, 2025 11:00 AM EST Company Participants Tom Cook Matthew Malone - President, CEO & Director Christopher Thome - Chief Accounting Officer, VP of Finance, CFO & Corporate Secretary Conference Call Participants Robert Brooks - Northland Capital Markets, Research Division Russell Stanley - Beacon Securities Limited, Research Division Joseph Gomes - NOBLE Capital Markets, Inc., Research Division George Bancroft - Gabelli ETFs Trust - Gabelli Commercial Aerospace and Defense ETF Presentation Operator Greetings, and welcome to the Graham Corporation Second Quarter 2026 Financial Results Conference Call. [Operator Instructions] Please note, this conference is being recorded.

Graham (GHM) came out with quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.31 per share a year ago.

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM) (“GHM” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space industries, today reported financial results for its second quarter for the fiscal year ending March 31, 2026 (“fiscal 2026”). Graham's President and Chief Executive Officer, Matthew J. Malone stated, “I am pleased with our performance through.

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission-critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space markets, today announced growing momentum in its commercial space business, supported by a series of recent orders from leading Space/Aerospace customers in aggregate value of approximately $22 million. During its fiscal second and third quart.

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space industries, announced that it will release its second quarter fiscal year 2026 financial results before financial markets open on Friday, November 7, 2025. The Company will host a conference call and webcast to review its financial and operating results, strategy, and.

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission-critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space markets, today announced the acquisition of certain specified assets of Xdot Bearing Technologies (“Xdot”), a specialized consulting, design and engineering firm focused on foil bearing technology. Xdot has developed and patented a breakthroug.

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM) (“GHM” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space industries, today announced that Matthew J. Malone, President and Chief Executive Officer, and Christopher J. Thome, Vice President - Finance and CFO, will host investor meetings at the Maxim Growth Summit in New York City on Thursday, October.