Financial Data and Key Metrics Changes - Q4 2025 revenue reached a record $215.8 million, a 9.4% increase from $197.3 million in Q4 2024, marking the 19th consecutive quarter of year-over-year revenue growth [8][24] - Gross margins improved to 27.7% in Q4 2025, up from 23.5% in Q4 2024, with adjusted EBITDA margins at 17.5%, up from 13% in 2022 [10][12][14] - GAAP EPS was $0.48 per diluted share in Q4 2025, compared to $0.45 in Q4 2024, while adjusted diluted EPS was $1.05, up from $0.75 in the prior year [13][27] Business Line Data and Key Metrics Changes - Military and space segment revenues grew 13% to $124 million in Q4 2025, driven by strong performance in fixed-wing aircraft, rotorcraft, and missiles [17][24] - Commercial aerospace segment revenue increased by 1% to $82 million, with growth in A320 and 787 platforms offsetting declines in the 737 MAX [20][24] - Structural Systems segment revenue was $96 million, up from $90 million, with operating income margin increasing to 15.2% from 3.6% [28] - Electronic Systems segment revenue rose to $120 million, with operating income margin at 18.4%, up from 17.7% [29] Market Data and Key Metrics Changes - The remaining performance obligation (RPO) grew to a record $1.1 billion, increasing by $75 million sequentially, primarily in defense businesses [9] - Book-to-bill ratio was 1.3x in Q4, indicating strong order intake relative to revenue [10] - The company expects continued strength in defense business and a recovery in commercial aerospace in the second half of 2026 [16] Company Strategy and Development Direction - The company is executing its VISION 2027 strategy, focusing on increasing the revenue percentage of engineered products and aftermarket content, which rose to 23% in 2025 from 15% in 2022 [7] - The next investor conference will present the Vision 2032 strategy, indicating a long-term growth outlook [8] - The company aims to achieve an 18% EBITDA margin by 2027, with current margins trending positively [12][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum from both military and commercial aerospace markets, anticipating mid-to-high single-digit revenue growth for 2026 [16][14] - The company highlighted the importance of relationships with defense primes and the expected ramp-up in missile production as key growth drivers [18][70] - Management noted that tariffs have not materially impacted results and expect to continue mitigating their effects [25][26] Other Important Information - The company entered into a binding settlement for the Guaymas fire litigation, resulting in a $150 million payment, with $56 million covered by insurance [15] - The restructuring program has been completed, with expected annual savings of $11 million to $13 million by the end of 2026 [31] Q&A Session Summary Question: Inventory destocking and working capital - Management expects continued destocking in the first half of 2026, with improvements anticipated in the second half as inventory levels decrease [39][40] Question: Medium-term opportunities in defense - Management indicated that they have significant existing capacity to meet increased demand, with a conservative estimate of at least 30% available capacity [50][51] Question: Margin outlook for 2026 - Management suggested that the exit rate for EBITDA margins should be viewed closer to 16.5% for 2026, with potential for improvement as production ramps up [59][60] Question: M&A market activity - Management noted increased activity in the M&A market, with a focus on disciplined evaluation of opportunities within their target range [96][97]

Aristotle Funds, an investment advisor, released its “Growth Equity Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equity markets reached new all-time highs in Q4 2025, with the S&P 500 Index rising 2.66% and the Bloomberg U.S. Aggregate Bond Index increasing by 1.10%. Within the Russell 1000 Growth Index, healthcare, communication services, and financials were the top-performing sectors, while utilities, real estate, and materials lagged. The U.S. economy show ...

EDGEWOOD, N.Y., Feb. 26, 2026 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero” or the “Company”) (NYSE American: CVU) announced that Embraer S.A. of Brazil (NYSE: EMBJ) has placed several additional orders totaling $4.2 million against a previously announced Life of Program Agreement to manufacture engine inlet assemblies for the Embraer Phenom 300 business jets. These new orders will see deliveries continue through mid-2026 with continued funding anticipated in support of this life-of-program contr ...

Strong Finish to 2025; Record Full Year Revenue and Gross MarginsCOSTA MESA, Calif., Feb. 26, 2026 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today reported results for its fourth quarter and year ended December 31, 2025. Fourth Quarter 2025 Recap Net revenue of $215.8 million, an increase of 9.4% over Q4 2024Gross margin of 27.7% showed year-over-year growth of 420 bpsNet income of $7.4 million increased 10% year-over-year, or $0.48 per diluted share, or 3.4% of rev ...

Core Viewpoint - Wall Street began 2026 positively after a significant bull run over the past three years, with optimism that the upward trend in U.S. stock markets will persist this year despite fluctuations in February due to concerns over artificial intelligence (AI) trade [1] Group 1: Investment Opportunities - It is advisable to invest in U.S. giants with a market capitalization over $30 billion and a favorable Zacks Rank, with five highlighted stocks: The Hershey Co. (HSY), Tapestry Inc. (TPR), FedEx Corp. (FDX), Howmet Aerospace Inc. (HWM), and Southwest Airlines Co. (LUV) [2] - Each of the selected stocks carries either a Zacks Rank 1 (Strong Buy) or 2 (Buy) [2] Group 2: The Hershey Co. (HSY) - Hershey is focused on innovation, supply-chain agility, and commercial execution, expanding its presence in the snacking category [5] - The company is undergoing a multi-year transformation to modernize its supply chain and enhance demand forecasting, supported by investments in data and digital tools [6] - HSY's expected revenue and earnings growth rates for the current year are 4.4% and 27.1%, respectively, with a current dividend yield of 2.62% [7] Group 3: Tapestry Inc. (TPR) - Tapestry is strengthening its position as a global house of brands, driven by strong performance from Coach, particularly among Gen Z consumers [9] - TPR's adjusted gross margin increased by 110 basis points in Q2 of fiscal 2026, with projected revenues above $7.75 billion and EPS between $6.40 and $6.45 [10] - The expected revenue and earnings growth rates for TPR are 9.6% and 23.7%, respectively, with a current dividend yield of 1.02% [11] Group 4: FedEx Corp. (FDX) - FedEx is implementing cost realignment initiatives under the DRIVE program, achieving annual cost savings of $2.2 billion in fiscal 2025 [12] - The company returned $4.3 billion to shareholders through dividends and buybacks in fiscal 2025, exceeding its target [13] - FDX's expected revenue and earnings growth rates for the current year are 5.6% and 1.5%, respectively, with a current dividend yield of 1.49% [14] Group 5: Howmet Aerospace Inc. (HWM) - Howmet Aerospace is benefiting from strong momentum in the commercial aerospace market and rising defense budgets [15] - The company has a solid liquidity position supporting shareholder-friendly policies, with robust orders for defense aerospace units [16] - HWM's expected revenue and earnings growth rates for the current year are 11% and 20.7%, respectively, with a current dividend yield of 0.19% [17] Group 6: Southwest Airlines Co. (LUV) - Southwest Airlines is experiencing improved air travel demand, with expectations for solid revenue trends continuing into 2026 [18] - The company is focused on cost-cutting initiatives and fleet modernization, supported by a strong balance sheet [19] - LUV's expected revenue and earnings growth rates for the current year are 12.8% and over 100%, respectively, with a current dividend yield of 1.38% [21]

EDGEWOOD, N.Y., Feb. 24, 2026 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero” or the “Company”) (NYSE American: CVU) announced that Lockheed Martin Aeronautics has placed several additional orders totaling $9 million against a previously announced Long Term Agreement to manufacture the Rudder Island Drag Chute Canister (RI/DCC) assemblies for the F-16 Block 70/72 fighter jets. These new orders will see deliveries continue through 2028. CPI Aero delivered its first RI/DCC assembly for the F-16 Block ...

Key TakeawaysIndonesia’s January budget deficit reached 0.21% of GDP, totaling 54.6 trillion rupiah, as the Finance Ministry targets 809 trillion rupiah in total Q1 spending.JP Morgan adjusted its outlook on European industrials, cutting the price target for Airbus (AIR) to €225 while raising Vinci (DG) to €140.The Singapore Dollar strengthened slightly as markets reacted to U.S. President Trump’s decision to raise global tariffs to 15%.Jamieson Wellness (JWEL) received a price target upgrade to C$45 from t ...

Core Insights - The global backlog of unfilled aircraft orders exceeds 17,000 jets, with Boeing facing production delays that extend delivery timelines, resulting in an average fleet age of 15 years [1] - GE Aerospace and TransDigm Group are two major beneficiaries of this situation, each profiting in distinct ways [1] GE Aerospace - GE Aerospace has an installed base of approximately 80,000 commercial and military engines, generating service revenue of $24 billion in 2025, a 26% increase year-over-year, which constitutes 53% of total revenue [2] - Management projects $8.2 billion in free cash flow (FCF) for 2026, with FCF conversion exceeding 100%, and maintains a clean balance sheet compared to TransDigm's higher leverage [4] - GE trades at about 43 times estimated 2026 earnings, reflecting a market expectation of flawless execution and a pure-play razor-and-blade model [5] - GE generated $7.3 billion in free cash flow in fiscal 2025, with a gross margin of 36.64% and a dividend yield of 0.43% [10][11] TransDigm Group - TransDigm specializes in manufacturing thousands of small, mission-critical components for aircraft, holding a sole-source and proprietary position for many parts, which grants significant pricing power [6] - The company reported an operating margin of 47.2% in fiscal 2025, significantly higher than GE's 21.4%, and returned $5 billion to shareholders through special dividends [7] - TransDigm's leverage is more than four times that of GE, and its pricing model has faced regulatory scrutiny [7] - TransDigm produced $1.8 billion in free cash flow, with a forward price-to-earnings (P/E) ratio of approximately 32 times [11] Investment Considerations - GE is positioned as a safer investment option, appealing to those willing to pay a premium for stability, while TransDigm attracts investors seeking higher profitability despite its debt levels [12]

Core Viewpoint - The company is facing a production slowdown of its best-selling jet due to a shortage, marking another setback in its ongoing struggle with supply-chain issues [1] Group 1 - The production of the best-selling jet has been slowed down [1] - The company is experiencing significant challenges related to supply-chain disruptions [1]

Group 1: Rio Tinto - Rio Tinto reported a full-year underlying EBITDA of $25.36 billion, exceeding analyst estimates of $24.72 billion, driven by strong copper and aluminum production [2][9] - The company's underlying profit reached $10.87 billion, slightly above the expected $10.81 billion, while net income of $10 billion fell short of the forecast of $10.7 billion [2][9] - Rio Tinto maintained its output and sales guidance, indicating stability in its core iron ore and copper operations, and expects exploration and evaluation expenses to reach approximately $0.8 billion in 2026 [3] Group 2: Airbus - Airbus reported mixed Q4 2025 results, with revenue of €25.98 billion missing the estimate of €26.32 billion, although adjusted EBIT for the quarter was €2.98 billion, surpassing the €2.85 billion estimate [4][9] - The company expects to deliver approximately 870 planes in 2026, below the analyst consensus of 896, primarily due to ongoing engine delivery issues [5][9] - Airbus lowered its 2026 adjusted EBIT forecast to €7.5 billion and free cash flow target to €4.5 billion, both significantly below previous market projections [5] Group 3: JPMorgan Chase - JPMorgan Chase is reportedly in discussions to provide banking services for President Trump's newly established "Board of Peace," which aims to support a $5 billion reconstruction fund for Gaza [6][9] Group 4: Capstone Copper - Capstone Copper faced a setback as CIBC analysts downgraded the stock's rating to Neutral and reduced its price target to C$16 from C$20, citing concerns over deferred production targets and rising inflationary costs [7][9]