Record $580M backlog as TAT Technologies (NASDAQ: TATT) posts Q1 2026 results

Rhea-AI Filing Summary

TAT Technologies reported first quarter 2026 revenue of $41.1 million, slightly below $42.1 million a year earlier, mainly due to supply chain disruptions and delays from certain OEM suppliers that constrained deliveries.

Net income was $3.4 million, down from $3.8 million, with basic earnings per share of $0.26 versus $0.35. Despite this, demand remained very strong and the value of long-term agreements and backlog reached an all-time high of about $580 million at the end of the quarter.

Cash and cash equivalents were $51.2 million and total assets were $232.8 million as of March 31, 2026. Adjusted EBITDA came to $4.9 million, compared with $5.7 million in the prior-year quarter. Management expects supply chain issues to be resolved in the next few months and anticipates growth resuming later in 2026.

Insights

Equity research analyst

Strong demand and record backlog offset a soft quarter from supply chain delays.

TAT Technologies saw Q1 2026 revenue of $41.1M and net income of $3.4M, both modestly below the prior year as OEM-driven supply bottlenecks delayed finished goods and deliveries. Gross profit held at $10.0M, roughly flat year over year.

The notable data point is the record backlog and long-term agreements of roughly $580M, described as an all-time high and driven by strong customer intake across all four service lines. This suggests underlying demand remains robust even though reported revenue dipped.

Adjusted EBITDA was $4.9M versus $5.7M a year earlier, indicating some margin pressure while disruptions persist. Management expects supply chain issues to be resolved within the next few months and indicates confidence that the growth trajectory will resume in Q2 2026 and the second half, supported by strong demand and the record backlog.

Key Figures

Revenue: $41.147M Net income: $3.400M Basic EPS: $0.26 per share +5 more

8 metrics

Revenue $41.147M Three months ended March 31, 2026

Net income $3.400M Three months ended March 31, 2026

Basic EPS $0.26 per share Three months ended March 31, 2026

Adjusted EBITDA $4.853M Three months ended March 31, 2026

Backlog and long-term agreements ≈$580M Value at end of Q1 2026

Cash and cash equivalents $51.235M As of March 31, 2026

Total assets $232.807M As of March 31, 2026

Total shareholders’ equity $180.475M As of March 31, 2026

Key Terms

Adjusted EBITDA, backlog, long-term agreements, maintenance repair and overhaul, +1 more

5 terms

Adjusted EBITDA financial

"To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

backlog financial

"the value of our long-term agreements and backlog reached an all-time high, growing to approximately $580 million"

A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.

long-term agreements financial

"the value of our long-term agreements and backlog reached an all-time high"

Long-term agreements are multi-year commitments between businesses or between a business and a customer or supplier that set binding terms for pricing, delivery, services or other ongoing obligations. Like a long-term lease or multi-year subscription, they give predictable revenue or costs and reduce short-term uncertainty, which helps investors assess future earnings and risk, while also creating ongoing obligations that can limit a company’s flexibility.

maintenance repair and overhaul technical

"MRO services for heat transfer components and OEM of heat transfer solutions"

Maintenance, repair and overhaul describes the routine upkeep, fixing of failures and major refurbishment or rebuilding of equipment, vehicles or facilities to keep them safe and working. For investors it matters because MRO drives operating costs, affects how often assets are available to earn revenue, influences safety and regulatory compliance, and extends useful life — like keeping a car serviced to avoid breakdowns and preserve resale value.

FAA-certified repair station regulatory

"Limco subsidiary operates a Federal Aviation Administration (“FAA”)-certified repair station"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

F O R M 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

TAT TECHNOLOGIES LTD.

(Name of Registrant)

9335 Harris Corners Pkwy, Charlotte, NC 28269

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒          Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐           No ☒

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____________

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TAT TECHNOLOGIES LTD.
		(Registrant)
	By:	/s/ Ehud Ben-Yair
		Ehud Ben-Yair
		Chief Financial Officer

Date: May 20, 2026

2

Press Release

TAT Technologies Reports First Quarter 2026 Results

Backlog and Long-Term Agreements Increase to ~$580 Million on Strong Demand

Charlotte, N.C, May 20, 2026 - TAT Technologies Ltd. (NASDAQ and TASE: “TATT”) (“TAT” or the “Company”) a leading provider of products and services to the commercial and military aerospace and ground defense industries, today reported its unaudited results for the three-month period ended March 31, 2026.

Financial highlights for the first quarter of 2026:

• Revenues were $41.1 million; a slight decrease of 2.4% compared to $42.1 million in the first quarter of 2025, driven primarily by component part shortages and delayed deliveries from certain OEM suppliers.

• Gross profit remained stable at $10.0 million. Gross margin improved by 80 basis points to 24.4% of revenues, compared to 23.6% of revenues in the first quarter of 2025.

• Operating income was $3.0 million, a decrease from $4.2 million in the first quarter of 2025,  reflecting a margin of 7.3% versus 9.9% in the first quarter of 2025.

• Net income totaled $3.4 million, a slight decrease compared to $3.8 million in the first quarter of 2025.

• Adjusted EBITDA was $4.9 million, representing 11.8% of revenues, a decrease from $5.7 million representing 13.6% of revenues in the first quarter of 2025.

• Operating cash flow for the quarter was positive $1.9 million compared to negative $(5.0) million used in operating activities in the first quarter of 2025, reflecting a significant improvement in cash generation.

Mr. Igal Zamir, TAT's CEO and President, commented: "TAT Technologies entered 2026 with a robust operational foundation, and the record customer demand in the first quarter reinforced our confidence in the trajectory we are on. Demand for our services has never been stronger, and the value of our long-term agreements and backlog reached an all-time high, growing to approximately $580 million at the end of Q1, reflecting new contract wins and exceptionally strong customer intake across all four of our service lines."

As opposed to this  strong momentum entering the year, and as previously communicated, we experienced some supply chain disruptions that affected the results of the first quarter. These distruptions were triggered by certain OEM suppliers, leading to delays in finish goods and deliveries. Primarily as a result of these delays, our revenue slightly declined YoY, not fully utilizing our growing backlog. We expect this obstacle to be resolved in the next few months, allowing TAT the continued growth trajectory we started last year. 

"As we look ahead through the rest of 2026, we are confident in the fundamentals of the business. Demand is at an all-time high and our record backlog provides strong revenue expectations. Subject to the anticipated resolution of our recent supply chain disruptions, we expect our growth trajectory will resume in the second quarter and the second half of the year, driven primarily by stronger demand and record backlog. We remain well-positioned to deliver growth and long-term value for our shareholders," concluded Mr. Zamir.

3

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA.  The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors with a more complete understanding of the Company’s underlying operational results, trends and performance. Adjusted EBITDA is calculated as net income excluding the impact of: the Company's share in results of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization. Adjusted EBITDA, however, should not be considered as an alternative to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA below.

Investor Call Information

TAT Technologies will host an earnings webcast and conference call today, May 20, 2026, at 8:00 a.m. Eastern Time to discuss first quarter results. Investors may register using the link below or by visiting the Company's website.

Webcast Registration: Here

Investor Relations Website: https://tat-technologies.com/investors/

Contact:

Mr. Eran Yunger

Director of IR

erany@tat-technologies.com

4

About TAT Technologies Ltd

We are a leading provider of solutions and services to the aerospace and defense industries. We operate four operational units: (i) original equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through our Kiryat Gat facility (TAT Israel); (ii) maintenance repair and overhaul (“MRO”) services for heat transfer components and OEM of heat transfer solutions through our subsidiary Limco Airepair Inc. (“Limco”); (iii) MRO services for aviation components through our subsidiary, Piedmont Aviation Component Services LLC (“Piedmont”) (mainly Auxiliary Power Units (“APUs”) and landing gear); and (iv) overhaul and coating of jet engine components through our subsidiary, Turbochrome Ltd. (“Turbochrome”).

TAT’s activities in the area of OEM of heat transfer solutions and aviation accessories through TAT Israel primarily include the design, development and manufacture of (i) a broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft and ground applications; and (iii) a variety of mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.

TAT’s activities in the area of MRO and OEM of heat transfer solutions include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT’s Limco subsidiary operates a Federal Aviation Administration (“FAA”)-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of MRO services for aviation components include the MRO of APUs and landing gear. TAT’s Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of jet engine overhaul through its Turbochrome facility includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.

Safe Harbor for Forward-Looking Statements

This press release and/or this report contains “forward-looking statements” within the meaning of the United States federal securities laws. These forward-looking statements include, without limitation, statements regarding possible or assumed future operation results. These statements are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management's current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, LTAs and backlog, the price and continuity of supply of component parts used in our operations (including the risk that recent delivery delays and part shortages are not resolved in a timely manner), our ability to successfully identify, execute, and integrate potential merger and acquisition transactions and other risks detailed from time to time in the Company's filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

5

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

U.S dollars in thousands

		March 31,				December 31,
		2026				2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	51,235			$	51,259
Accounts receivable, net of allowance for credit losses of $241    and $172 as of March 31, 2026, and December 31, 2025, respectively			30,456				33,420
Inventory			81,736				75,549
Prepaid expenses and other current assets			8,423				6,071
Total current assets			171,850				166,299
NON-CURRENT ASSETS:
Property, plant and equipment, net			47,162				46,922
Operating lease right of use assets			5,484				5,807
Intangible assets, net			1,375				1,452
Investment in affiliates			5,520				4,905
Funds in respect of employee rights upon retirement			400				398
Deferred tax assets			706				639
Restricted deposit			310				307
Total non-current assets			60,957				60,430
Total assets		$	232,807			$	226,729

The accompanying notes are an integral part of these unaudited condensed consolidated financial Statements.

6

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

U.S dollars in thousands

		March 31,				December 31,
		2026				2025
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long-term loans		$	2,272			$	2,227
Accounts payable			15,529				12,986
Accrued expenses and other			17,396				17,296
Current maturities of operating lease liabilities			1,448				1,474
Total current liabilities			36,645				33,983
NON-CURRENT LIABILITIES:
Long-term loans			8,937				9,485
Operating lease liabilities			4,174				4,448
Liability in respect of employee rights upon retirement			772				770
Deferred tax liabilities			1,804				1,652
Total non-current liabilities			15,687				16,355
COMMITMENTS AND CONTINGENCIES (NOTE 4)			-				-
Total liabilities			52,332				50,338

SHAREHOLDERS’ EQUITY:
Ordinary shares of NIS 0 par value Authorized: 15,000,000 shares at March 31, 2026 and at December 31, 2025 Issued:13,257,610 shares at March 31, 2026 and at December 31, 2025 Outstanding: 12,983,137 shares at March 31, 2026 and at December 31, 2025			-				-
Additional paid-in capital			137,071				136,578
Treasury stock at cost			(2,088	)			(2,088	)
Accumulated other comprehensive income			834				643
Retained earnings			44,658				41,258
Total shareholders' equity			180,475				176,391
Total liabilities and shareholders' equity		$	232,807			$	226,729

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

7

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

U.S dollars in thousands

		Three Months Ended March 31,
		2026				2025
Revenues:
Products		$	13,906			$	12,724
Services			27,241				29,418
			41,147				42,142
Costs:
Products			10,099				8,331
Services			21,017				23,857
			31,116				32,188
Gross profit			10,031				9,954
Operating expenses:
Research and development, net			571				324
Selling and marketing			2,182				1,928
General and administrative			4,293				3,532
			7,046				5,784
Operating income			2,985				4,170
Interest expenses			(148	)			(335	)
Other financial income, net			187				277
Income before taxes on income			3,024				4,112
Provision for income taxes			145				592
Income before share of equity investment			2,879				3,520
Share in profits of equity investment of affiliated companies			521				293
Net income		$	3,400			$	3,813

8

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

U.S dollars in thousands, except share and per share data

		Three Months Ended March 31,
		2026				2025
Earnings per share
Basic		$	0.26			$	0.35
Diluted		$	0.26			$	0.34
Weighted average number of shares outstanding
Basic			12,983,137				10,940,358
Diluted			13,204,290				11,211,271

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

9

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

U.S dollars in thousands

		Three Months Ended March 31,
		2026				2025
Net income		$	3,400			$	3,813
Other comprehensive income, net:
Change in foreign currency translation adjustments			191				528
Total comprehensive income		$	3,591			$	4,341

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

10

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY

U.S dollars in thousands, except share data

		Share capital												Accumulated
		Number of shares issued				Amount				Additional paid-in capital				other comprehensive income (loss)				Treasury shares				Retained earnings				Total equity
BALANCE AT DECEMBER 31, 2024			11,214,831			$	-			$	89,697			$	(76	)		$	(2,088	)		$	24,436			$	111,969
CHANGES DURING THE THREE MONTHS ENDED MARCH 31, 2025:
Comprehensive income			-				-				-				528				-				3,813				4,341
Share based compensation											222																222
BALANCE AT MARCH 31, 2025			11,214,831			$	-			$	89,919			$	452			$	(2,088	)		$	28,249			$	116,532
BALANCE AT DECEMBER 31, 2025			13,257,610			$	-			$	136,578			$	643			$	(2,088	)		$	41,258			$	176,391
CHANGES DURING THE THREE MONTHS ENDED MARCH 31, 2026:
Comprehensive income			-				-				-				191				-				3,400				3,591
Share based compensation			-				-				493				-				-				-				493
BALANCE AT MARCH 31, 2026			13,257,610			$	-			$	137,071			$	834			$	(2,088	)		$	44,658			$	180,475

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

11

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

		Three Months Ended March 31,
		2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	3,400			$	3,813
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization			1,313				1,305
Non-cash financial (income) expenses			331				(99	)
Change in allowance for (recovery of) credit losses			69				(50	)
Share in profits of equity investment of affiliated companies			(521	)			(293	)
Share based compensation			493				222
Deferred income taxes, net			85				519
Changes in operating assets and liabilities:
Decrease (increase) in trade accounts receivable			2,894				(3,476	)
Increase in prepaid expenses and other current assets			(2,257	)			(527	)
Increase in inventory			(6,430	)			(3,861	)
Increase in trade accounts payable			2,471				434
Increase (decrease) in accrued expenses and other			102				(3,022	)
Net cash provided by (used in) operating activities			1,950				(5,035	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment			(1,420	)			(2,862	)
Net cash used in investing activities			(1,420	)			(2,862	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term loans			(551	)			(571	)
Net change in short term loans from banks			-				6,369
Net cash (used in) provided by financing activities			(551	)			5,798
Net decrease in cash and cash equivalents and restricted cash			(21	)			(2,099	)
Cash and cash equivalents and restricted cash at beginning of period			51,566				7,434
Cash and cash equivalents and restricted cash at the end of period		$	51,545			$	5,335
Supplementary information on investing and financing activities not involving cash flows:
Additions of operating lease right-of-use assets and operating lease liabilities			82				147
Reclassification between inventory and property, plant and equipment			-				579
Supplemental disclosure of cash flow information:
Interest paid			154				267

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

12

TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)

(U.S dollars in thousands)

		Three months ended
		March 31,
		2026				2025
Net income		$	3,400			$	3,813
Adjustments:
Share in results and sale of equity investment of affiliated companies			(521	)			(293	)
Provision for income taxes			145				592
Financial expenses, net			(39	)			58
Depreciation, amortization and other			1,375				1,353
Share based compensation			493				222
Adjusted EBITDA		$	4,853			$	5,745

13

FAQ

How did TAT Technologies (TATT) perform financially in Q1 2026?

TAT Technologies reported Q1 2026 revenue of $41.1 million and net income of $3.4 million. Revenue and profit were slightly below the prior year, mainly because supply chain disruptions delayed deliveries despite strong underlying demand.

What was TAT Technologies' backlog at the end of Q1 2026?

TAT Technologies’ long-term agreements and backlog reached about $580 million at the end of Q1 2026. Management described this as an all-time high, reflecting new contract wins and strong customer intake across all four service lines.

What were TAT Technologies’ earnings per share in Q1 2026?

Basic earnings per share for TAT Technologies in Q1 2026 were $0.26, compared with $0.35 a year earlier. Diluted earnings per share were also $0.26, down from $0.34, reflecting lower net income on a higher share count.

How did supply chain issues impact TAT Technologies in Q1 2026?

Supply chain disruptions from certain OEM suppliers caused delays in finished goods and deliveries for TAT Technologies. Management said this limited revenue realization from the growing backlog and led to a slight year-over-year revenue decline in Q1 2026.

What was TAT Technologies’ Adjusted EBITDA in Q1 2026?

TAT Technologies reported Q1 2026 Adjusted EBITDA of $4.9 million, compared with $5.7 million in Q1 2025. Adjusted EBITDA excludes equity income from affiliates, share-based compensation, taxes, net financial items, and depreciation and amortization.

What is TAT Technologies' cash position as of March 31, 2026?

As of March 31, 2026, TAT Technologies held $51.2 million in cash and cash equivalents. Total assets were $232.8 million and total shareholders’ equity was $180.5 million, indicating a balance sheet with significant equity relative to liabilities.