Strong 1Q performance with robust commercial services backlog growth, trending to high-end of 2026 guide
First Quarter 2026:- Total orders of $23.0B, +87%;
- Total revenue (GAAP) of $12.4B, +25%; adjusted revenue* $11.6B, +29%;
- Profit (GAAP) of $2.2B, (2)%; operating profit* $2.5B, +18%;
- Profit Margin (GAAP) of 17.7%, (490) bps; operating profit margin* 21.8%, (200) bps;
- Continuing EPS (GAAP) of $1.83, flat; adjusted EPS* $1.86, +25%;
- Cash from operating activities (GAAP) of $1.9B, +21%; free cash flow* $1.7B, +14%
Culp continued, "Our young and diverse fleet coupled with a $170 billion commercial services backlog positions us well to navigate the current operating environment. With the dynamic geopolitical landscape, we're holding our fullyear guidance across the board and are trending toward the high-end of the range given our strong start to the year."
For the full earnings release, please go here.