Every 10-Q that BUTLER NATL CORP (BUKS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BUKS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BUKS filings page.
BUTLER NATIONAL CORP (BUKS) reported strong first‑quarter fiscal 2027 results, with total revenue rising to $30.8 million from $20.1 million, a 53% increase. Aerospace Products drove the performance, with revenue up 92% to $21.7 million, led by record aircraft modification revenue of $16.3 million and higher Special Mission Electronics sales. Professional Services (Boot Hill Casino) revenue grew 3% to $9.0 million, as higher traditional casino gaming offset lower sports wagering revenue.
Operating income rose to $7.4 million from $4.7 million (margin about 24%), and net income increased 43% to $5.3 million, or $0.08 per diluted share, versus $0.06 a year earlier. Operating cash flow was positive at $4.6 million, though down from $14.7 million, and cash and equivalents were $35.3 million. Total debt (current and long‑term) was about $28.0 million, and the company remained in compliance with note covenants.
Aerospace backlog totaled $51.1 million, supporting future revenue. Butler National repurchased 254,619 shares for $1.1 million during the quarter, leaving $2.1 million authorized under its 2025 stock repurchase program. Subsequent to quarter‑end, the company obtained a three‑year extension of its Kansas Lottery sports wagering management contract through 2030 and agreed with DraftKings to extend their sports wagering arrangement for ten years with a reduced revenue‑share percentage.
Butler National Corporation reported strong year-to-date growth for the nine months ended January 31, 2026. Total revenue rose to $70.3 million from $62.4 million, driven mainly by a 26% increase in Aerospace Products revenue to $42.4 million, while Professional Services (Boot Hill Casino) revenue slipped 3% to $27.9 million.
Operating income increased to $21.0 million from $12.4 million as total costs fell to 70% of revenue versus 80% a year earlier, lifting operating margin to about 30%. Net income grew to $16.4 million from $9.2 million, and diluted EPS rose to $0.25 from $0.14.
Cash flow from operations was $24.5 million, helping lift cash to $36.5 million and fund $10.1 million of debt repayment and share repurchases. Aerospace backlog reached $37.0 million, while the company continued significant stock buybacks, with 15.9 million treasury shares outstanding and total equity of $76.3 million.
Butler National Corporation reported stronger results for the six months ended October 31, 2025. Total revenue rose 5% to $43.4M from $41.2M, driven by a 14% increase in Aerospace Products revenue to $25.4M, while Professional Services (Boot Hill Casino) declined 5% to $18.0M.
Operating income increased 40% to $11.7M, lifting the operating margin to 27% from 20%. Net income jumped 66% to $9.7M and basic EPS grew to $0.15 from $0.09, helped by higher aerospace margins and $1.9M of gains on asset sales.
Gaming revenue softened as traditional casino play declined and the State of Kansas revenue share rose, partly offset by higher sports wagering revenue. Aerospace benefited from strong special mission electronics and avionics demand and efficiency gains. Cash from operations increased to $13.9M, ending cash was $29.6M, and the company repurchased $4.8M of stock while modestly reducing long-term debt.