Park Aerospace Corp. Reports Fourth Quarter and Fiscal Year Results
NEWTON, Kan., May 28, 2026 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE-PKE) reported results for the 2026 fiscal year fourth quarter and full fiscal year ended March 1, 2026. The Company will conduct a conference call to discuss its financial results and other matters at 5:00 p.m. EDT today. A live audio webcast of the event, along with presentation materials, will be available at https://edge.media-server.com/mmc/p/gxy382c2 at 5:00 p.m. EDT today. The presentation materials will also be available at approximately 4:15 p.m. EDT today at https://parkaerospace.com/shareholders/investor-conference-calls/ and on the Company’s website at www.parkaerospace.com under “Investor Conference Calls” on the “Shareholders” page.
Park reported net sales of $24,187,000 for the 2026 fiscal year fourth quarter ended March 1, 2026 compared to $16,939,000 for the 2025 fiscal year fourth quarter ended March 2, 2025 and $17,333,000 for the 2026 fiscal year third quarter ended November 30, 2025. Park’s net sales for the fiscal year ended March 1, 2026 were $73,301,000 compared to $62,026,000 for the fiscal year ended March 2, 2025. Net earnings for the 2026 fiscal year fourth quarter were $3,838,000 compared to $1,246,000 for the 2025 fiscal year fourth quarter and $2,950,000 for the 2026 fiscal year third quarter. Net earnings were $11,272,000 for the fiscal year ended March 1, 2026 compared to $5,882,000 for the fiscal year ended March 2, 2025.
Net earnings before special items for the 2026 fiscal year fourth quarter were $3,838,000 compared to $2,417,000 for the 2025 fiscal year fourth quarter and $2,950,000 for the 2026 fiscal year third quarter. Net earnings before special items for the fiscal year ended March 1, 2026, were $11,272,000 compared to $7,867,000 for the fiscal year ended March 2, 2025.
Adjusted EBITDA for the 2026 fiscal year fourth quarter was $5,171,000 compared to $3,418,000 for the 2025 fiscal year fourth quarter and $4,226,000 for the 2026 fiscal year third quarter. Adjusted EBITDA for the 2026 fiscal year was $15,761,000 compared to $11,649,000 for the 2025 fiscal year.
During the 2026 fiscal year fourth quarter and 2026 fiscal year, the Company did not report any special items. During the 2025 fiscal year, the Company recorded $1,098,000 of pre-tax charges related to storm damage to the Company’s facilities in Newton, Kansas. During the 2025 fiscal year fourth quarter, the Company recorded a non-cash tax charge of $2,147,000 related to the potential repatriation by the Company of undistributed foreign earnings on certain funds held by the Company’s Singapore subsidiary. The Company also recorded a tax benefit of $957,000 in the 2025 fiscal year fourth quarter related to the “running” of, or expiration of, the statute of limitations for certain provisions for uncertain tax positions previously established by the Company.
Park reported basic and diluted earnings per share of $0.19 for the 2026 fiscal year fourth quarter compared to $0.06 for the 2025 fiscal year fourth quarter and $0.15 for the 2026 fiscal year third quarter. Basic and diluted earnings per share before special items were $0.19 for the 2026 fiscal year fourth quarter compared to $0.12 for the 2025 fiscal year fourth quarter and $0.15 for the 2026 fiscal year third quarter.
Park reported basic and diluted earnings per share of $0.56 for the 2026 fiscal year compared to $0.29 for the 2025 fiscal year. Basic and diluted earnings per share before special items were $0.56 for the 2026 fiscal year compared to $0.39 for the 2025 fiscal year.
The Company will conduct a conference call to discuss its financial results at 5:00 p.m. EDT today. Forward-looking and other material information may be discussed in this conference call. The conference call dial-in number is (877) 407-3982 in the United States and Canada, and (201) 493-6780 in other countries. The required passcode for attendance by phone is 13760797.
For those unable to listen to the call live, a conference call replay will be available from approximately 8:00 p.m. EDT today through 11:59 p.m. EDT on Thursday, June 4, 2026. The conference call replay will be available at https://edge.media-server.com/mmc/p/gxy382c2 and on the Company’s website at www.parkaerospace.com under “Investor Conference Calls” on the “Shareholders” page. It can also be accessed by dialing (844) 512-2921 in the United States and Canada, and (412) 317-6671 in other countries. The required passcode for accessing the replay by phone is 13760797.
Any additional material financial or statistical data disclosed in the conference call, including the investor presentation, will also be available at the time of the conference call on the Company's website at
https://parkaerospace.com/shareholders/investor-conference-calls/.
Park believes that an evaluation of its ongoing operations would be difficult if the disclosure of its operating results were limited to accounting principles generally accepted in the United States of America (“GAAP”) financial measures, which include special items, such as a charge related to storm damage, a non-cash tax charge and a reduction in uncertain tax positions. Accordingly, in addition to disclosing its operating results determined in accordance with GAAP, Park discloses non-GAAP measures, including Adjusted EBITDA, and operating results that exclude special items in order to assist its shareholders and other readers in assessing the Company’s operating performance, since the Company’s ongoing, normal business operations do not include such special items. The detailed operating information presented below includes a reconciliation of the non-GAAP operating results before special items to earnings determined in accordance with GAAP and a reconciliation of GAAP pre-tax earnings to Adjusted EBITDA. Such non-GAAP financial measures are provided to supplement the results provided in accordance with GAAP.
Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Park’s advanced composite materials include film adhesives (Aeroadhere®) and lightning strike protection materials (Electroglide®). Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park’s advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs, commonly referred to as “drones”), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park’s advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park’s composite parts and structures (which include Park’s proprietary composite SigmaStrut™ and AlphaStrut™ product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park’s objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up.
Additional corporate information is available on the Company’s website at www.parkaerospace.com.
Performance table, including non-GAAP information (in thousands, except per share amounts – unaudited):
| 13 Weeks Ended |
13 Weeks Ended | 13 Weeks Ended |
52 Weeks Ended | |||||||||||||||||||
| March 1, 2026 |
March 2, 2025 | November 30, 2025 |
March 1, 2026 |
March 2, 2025 | ||||||||||||||||||
| Sales | $ | 24,187 | $ | 16,939 | $ | 17,333 | $ | 73,301 | $ | 62,026 | ||||||||||||
| Net Earnings before Special Items1 | $ | 3,838 | $ | 2,417 | $ | 2,950 | $ | 11,272 | $ | 7,867 | ||||||||||||
| Special Items, Net of Tax: | ||||||||||||||||||||||
| Storm Damage Charge | - | - | - | - | (1,098 | ) | ||||||||||||||||
| Income Tax Effect on Pretax Special Items | - | 19 | - | - | 303 | |||||||||||||||||
| Tax Provision of Foreign Earnings | - | (2,147 | ) | - | - | (2,147 | ) | |||||||||||||||
| Reduction in Uncertain Tax Positions | - | 957 | - | - | 957 | |||||||||||||||||
| Net Earnings | $ | 3,838 | $ | 1,246 | $ | 2,950 | $ | 11,272 | $ | 5,882 | ||||||||||||
| Basic Earnings per Share: | ||||||||||||||||||||||
| Basic Earnings before Special Items1 | $ | 0.19 | $ | 0.12 | $ | 0.15 | $ | 0.56 | $ | 0.39 | ||||||||||||
| Special Item: | ||||||||||||||||||||||
| Storm Damage Charge | - | - | - | - | (0.05 | ) | ||||||||||||||||
| Income Tax Effect on Pretax Special Items | - | - | - | - | 0.01 | |||||||||||||||||
| Tax Provision of Foreign Earnings | - | (0.11 | ) | - | - | (0.11 | ) | |||||||||||||||
| Reduction in Uncertain Tax Positions | - | 0.05 | - | - | 0.05 | |||||||||||||||||
| Basic Earnings per Share | $ | 0.19 | $ | 0.06 | $ | 0.15 | $ | 0.56 | $ | 0.29 | ||||||||||||
| Diluted Earnings before Special Items1 | $ | 0.19 | $ | 0.12 | $ | 0.15 | $ | 0.56 | $ | 0.39 | ||||||||||||
| Special Item: | ||||||||||||||||||||||
| Storm Damage Charge | - | - | - | - | (0.05 | ) | ||||||||||||||||
| Income Tax Effect on Pretax Special Items | - | - | - | - | 0.01 | |||||||||||||||||
| Tax Provision of Foreign Earnings | - | (0.11 | ) | - | - | (0.11 | ) | |||||||||||||||
| Reduction in Uncertain Tax Positions | - | 0.05 | - | - | 0.05 | |||||||||||||||||
| Diluted Earnings per Share | $ | 0.19 | $ | 0.06 | $ | 0.15 | $ | 0.56 | $ | 0.29 | ||||||||||||
| Weighted Average Shares Outstanding: | ||||||||||||||||||||||
| Basic | 20,166 | 19,945 | 19,911 | 19,968 | 20,099 | |||||||||||||||||
| Diluted | 20,418 | 20,022 | 20,095 | 20,117 | 20,190 | |||||||||||||||||
|
1Refer to "Reconciliation of non-GAAP financial measures" below for information regarding Special Items. | ||||||||||||||||||||||
Condensed comparative balance sheets (in thousands):
| March 1, 2026 |
March 2, 2025 |
||||||
| Assets | (unaudited) |
||||||
| Current Assets | |||||||
| Cash and Marketable Securities | $ | 89,368 | $ | 68,834 | |||
| Accounts Receivable, Net | 10,974 | 12,903 | |||||
| Inventories | 7,411 | 7,213 | |||||
| Prepaid Expenses and Other Current Assets | 918 | 1,344 | |||||
| Total Current Assets | 108,671 | 90,294 | |||||
| Fixed Assets, Net | 21,828 | 21,650 | |||||
| Operating Right-of-use Assets | 256 | 308 | |||||
| Other Assets | 11,473 | 9,856 | |||||
| Total Assets | $ | 142,228 | $ | 122,108 | |||
| Liabilities and Shareholders' Equity | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $ | 3,681 | $ | 2,513 | |||
| Accrued Liabilities | 1,598 | 1,318 | |||||
| Operating Lease Liability | 44 | 40 | |||||
| Income Taxes Payable | 634 | 5,390 | |||||
| Total Current Liabilities | 5,957 | 9,261 | |||||
| Long-term Operating Lease Liability | 273 | 318 | |||||
| Deferred Income Taxes | 6,009 | 5,304 | |||||
| Other Liabilities | 39 | 71 | |||||
| Total Liabilities | 12,278 | 14,954 | |||||
| Shareholders’ Equity | 129,950 | 107,154 | |||||
| Total Liabilities and Shareholders' Equity | $ | 142,228 | $ | 122,108 | |||
| Additional information | |||||||
| Equity per Share | $ | 6.22 | $ | 5.36 | |||
Condensed comparative statements of operations (in thousands – unaudited):
| 13 Weeks Ended | 13 Weeks Ended | 13 Weeks Ended | 52 Weeks Ended | ||||||||||||||||||||
| March 1, 2026 | March 2, 2025 | November 30, 2025 | March 1, 2026 | March 2, 2025 | |||||||||||||||||||
| Net Sales | $ | 24,187 | $ | 16,939 | $ | 17,333 | $ | 73,301 | $ | 62,026 | |||||||||||||
| Cost of Sales | 17,252 | 11,981 | 11,430 | 50,629 | 44,384 | ||||||||||||||||||
| Gross Profit | 6,935 | 4,958 | 5,903 | 22,672 | 17,642 | ||||||||||||||||||
| % of net sales | 28.7 | % | 29.3 | % | 34.1 | % | 30.9 | % | 28.4 | % | |||||||||||||
| Selling, General & Administrative Expenses | 2,343 | 2,107 | 2,259 | 9,172 | 8,246 | ||||||||||||||||||
| % of net sales | 9.7 | % | 12.4 | % | 13.0 | % | 12.5 | % | 13.3 | % | |||||||||||||
| Earnings from Operations | 4,592 | 2,851 | 3,644 | 13,500 | 9,396 | ||||||||||||||||||
| Storm Damage Charge | - | - | - | - | (1,098 | ) | |||||||||||||||||
| Interest and Other Income | 455 | 335 | 343 | 1,543 | 1,209 | ||||||||||||||||||
| Earnings from Operations before Income Taxes | 5,047 | 3,186 | 3,987 | 15,043 | 9,507 | ||||||||||||||||||
| Income Tax Provision | 1,209 | 1,940 | 1,037 | 3,771 | 3,625 | ||||||||||||||||||
| Net Earnings | $ | 3,838 | $ | 1,246 | $ | 2,950 | $ | 11,272 | $ | 5,882 | |||||||||||||
| % of net sales | 15.9 | % | 7.4 | % | 17.0 | % | 15.4 | % | 9.5 | % | |||||||||||||
Reconciliation of non-GAAP financial measures (in thousands – unaudited):
| 13 Weeks Ended | 13 Weeks Ended | 13 Weeks Ended | 52 Weeks Ended | 52 Weeks Ended | |||||||||||||||||||
| March 1, 2026 | March 2, 2025 | November 30, 2025 | March 1, 2026 | March 2, 2025 | |||||||||||||||||||
| GAAP Net Earnings | $ | 3,838 | $ | 1,246 | $ | 2,950 | $ | 11,272 | $ | 5,882 | |||||||||||||
| Adjustments: | |||||||||||||||||||||||
| Income Tax Provision | 1,209 | 1,940 | 1,037 | 3,771 | 3,625 | ||||||||||||||||||
| Interest and Other Income | (455 | ) | (335 | ) | (343 | ) | (1,543 | ) | (1,209 | ) | |||||||||||||
| Depreciation | 472 | 460 | 477 | 1,860 | 1,851 | ||||||||||||||||||
| Stock Option Expense | 107 | 107 | 105 | 401 | 402 | ||||||||||||||||||
| Special Item: | |||||||||||||||||||||||
| Storm Damage Charge | - | - | - | - | 1,098 | ||||||||||||||||||
| Adjusted EBITDA | $ | 5,171 | $ | 3,418 | $ | 4,226 | $ | 15,761 | $ | 11,649 | |||||||||||||
| Contact: Donna D’Amico-Annitto | 486 North Oliver Road, Bldg. Z Newton, Kansas 67114 (316) 283-6500 |
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
