AEVEX (AVEX) Q3 2026: Revenue Surges 26% as Guidance Gets a Major Lift
As seen on the 24/7 Wall St. homepage on November 13, 2026.
The loss is an accounting artifact: a $37.9 million one-time deferred tax charge from the BlackSea deal flipped what management says would have been $21.1 million of net income. The real signal is guidance, lifted to $820 million to $840 million in 2026 revenue from $700 million to $720 million, with funded backlog already covering about 96% of the midpoint.
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AEVEX reported Q3 2026 revenue of $189.7 million, beating the $150.9 million consensus by nearly 26%. The headline EPS of negative $0.40 looks alarming against an estimated $0.10, but the miss is almost entirely explained by a single accounting event rather than operating weakness. Management says net income would have been $21.1 million without the $37.9 million one-time deferred tax charge tied to the BlackSea Technologies acquisition.
The charge stems from post-acquisition restructuring transactions connected to the BlackSea deal, which closed on September 8, 2026. AEVEX also booked $7.45 million in business acquisition costs during the quarter. Those two items together account for the swing from what management characterizes as underlying profitability to a reported net loss of $16.8 million.
The bigger story is what BlackSea adds and what it has done to the full-year outlook. The acquisition created a third reportable segment, Maritime Systems, which contributed $14.4 million in Q3 revenue, almost all of it from BlackSea. Management expects the segment to generate roughly $150 million of 2026 revenue in total. The deal also expanded AEVEX's addressable domain from airborne into surface and subsea autonomous systems.
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The Airborne Systems segment remained the revenue engine, growing 67.1% to $147.8 million, with $52.5 million coming from the EUCOM Deep Strike program alone. The Global Solutions segment declined 10.7% to $27.5 million on lower aircraft modification and testing revenue. Q3 bookings of $250.2 million produced a company-wide book-to-bill ratio of 1.3, and the funded backlog stood at $444.3 million at quarter end.
Full-year 2026 revenue guidance was lifted to $820 million to $840 million from a prior range of $700 million to $720 million, a raise of roughly $130 million at the midpoint. Adjusted EBITDA guidance moved to $128 million to $132 million from $105 million to $111.5 million. Management said roughly half the raise is organic and half reflects adding BlackSea, and that no 2027 revenue was pulled forward. With funded backlog already covering about 96% of the revenue midpoint, the guidance revision carries a relatively high degree of visibility.
Mentioned: AVEX