Butler National Corporation filed a Current Report on Form 8-K on September 30, 2026, to disclose information regarding its 2026 Annual Meeting of Shareholders. The filing includes an Investor Presentation (Exhibit 99.1) detailing the company's business segments, financial performance, and strategic outlook.
According to the presentation, the company reported total revenue of $97,967,000 for fiscal year 2026, compared to $83,968,000 in fiscal year 2025. Net income for FY 2026 was $21,933,000, resulting in earnings per share of $0.34. The company’s backlog at the end of April 30, 2026, was $47,059,000, which increased to $51,134,277 by July 31, 2026. As of September 15, 2026, the company had 63,842,119 outstanding shares.
The company’s operations are divided into two primary segments: Aerospace Products and Professional Services.
- Aerospace Products: This segment includes Avcon Industries, Inc., Butler Avionics, Inc., and BNC Special Mission Electronics (Tempe). Avcon focuses on aircraft modifications, including structural modifications and avionics integration, with applications ranging from search and rescue to homeland security. BNC Special Mission Electronics specializes in gun control units and simulation equipment. The company noted that 2026 was a record year for this segment, with revenue reaching $19.22 million, up from $12.74 million in 2025.
- Professional Services: This segment encompasses the Boot Hill Casino & Resort (BNSC) and other development projects. The casino generated total revenue of $37.4 million in YTD FY 2026, a decrease from $38.3 million in the prior year. The company reported a reduction in long-term gaming debt of $4.8 million during FY 2026.
The Board of Directors has formally begun a search for a new Chief Executive Officer, working with an external executive recruiting firm. The current Interim Chief Executive Officer and Chief Financial Officer is Adam B. Sefchick. The company also highlighted strategic initiatives for FY 2027, including a rebranding of Butler Machine, LLC to reflect its focus on complex aerospace and space products fabrication, and the expansion of Special Mission Electronics product offerings.
