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Butler National Corporation reports developments in aerospace products, aircraft modification and gaming management services. Its Aerospace Products segment designs, manufactures, sells and services structural aircraft modifications, electronic equipment integrations, defense-related articles and FAA Repair Station work for Learjet, Textron Beechcraft, King Air and Textron Cessna turboprop aircraft.
Recurring news includes quarterly financial results, FAA, EASA and CAA Supplemental Type Certificate approvals, Avcon and Butler Avionics special-mission aircraft modifications, non-halon fire extinguisher installations, Cessna Caravan camera and sensor ports, stock repurchases and corporate governance guidelines. The Professional Services segment manages the Boot Hill Casino and Resort gaming, dining, entertainment and sportsbook facility in Dodge City, Kansas.
Butler National (OTCQX: BUKS) announced a CEO transition and succession plan effective June 15, 2026. CEO Christopher J. Reedy retired from his role for health reasons but will remain on the Board through his current term and advise during the transition.
The Board appointed CFO Adam Sefchick as Interim CEO while he continues as CFO. Executive Chairman Jeff Yowell will oversee the transition, and the Board, led by Lead Independent Director Joe Daly, will immediately begin a search for the next permanent CEO.
Butler National (OTCQX: BUKS) subsidiary Avcon Industries received two FAA Supplemental Type Certificates for Bombardier Challenger 604, 605, and 650 aircraft.
The STCs cover underside rail mounting provisions for mission sensors (STC ST12213CH) and an underside-mounted radome (STC ST12278CH), expanding Avcon’s special mission platform portfolio.
Avcon Industries (OTCQX: BUKS) received FAA Supplemental Type Certificate No. SA01975WI on March 30, 2026, approving a single camera/sensor port installation for Cessna Model 208 aircraft.
This STC expands Avcon's Caravan special-mission offerings alongside existing approvals for dual camera ports, a lower-fuselage radar pod and a retractable sensor lift; the company plans a 208B single-port option soon.
Butler National Corporation (OTCQX: BUKS) reported Q3 FY2026 results for the quarter ended January 31, 2026. Revenue rose 27% to $26.9M, operating income increased 129% to $9.2M, and net income grew 98% to $6.7M; EPS was $0.10.
The Aerospace Products segment led growth with $17.1M (up 50%). The company repurchased 222,168 shares, invested ~$1.6M in product development, and reported a backlog of approximately $37.0M.
Butler National Corporation (OTCQX: BUKS) reported Q2 FY2026 results for the quarter ended October 31, 2025: revenue $23.25M (up 9% vs prior year), operating income $7.08M (up 46%), net income $5.99M (up 67%) and EPS $0.09 vs $0.05 a year earlier.
Aerospace Products drove results with 20% segment revenue growth to $14.0M, improved margins and STC approvals after ~$1.7M of product development investment. Backlog totaled $46.3M versus $38.1M a year earlier. The company repurchased 687,852 shares in Q2 and invested in new machining equipment; total assets were $128.18M and stockholders' equity $70.21M.
Butler National Corporation (OTCQX: BUKS) announced that EASA and UK CAA issued Supplemental Type Certificates for Avcon's non-halon portable fire extinguisher replacements for Learjet aircraft.
EASA STC No. 10088775 and CAA STC No. 00484 approve Halotron BrX-filled, size-equivalent extinguishers across a full Learjet model list; FAA previously issued STC No. ST12087CH. The approvals enable compliance with EU/Montreal Protocol rules requiring replacement of hand-held halon extinguishers by December 31, 2025. Avcon and Butler plan to stock kits with FAA Form 8130 and associated paperwork for rapid installation.
Butler National - Tempe (OTCQX: BUKS), a subsidiary specializing in Special Mission Electronics, has received the Northrop Grumman Corporation Silver Award for outstanding quarterly performance during April-June 2025.
The recognition comes through Northrop Grumman's Supplier Assessment Management System (SAMS) Scorecard, which evaluates suppliers across multiple categories including management, technical capabilities, schedule adherence, cost management, and quality assurance. Butler National - Tempe's core business involves designing and manufacturing control systems, gun simulators, aircraft fuel tank safety solutions, and ruggedized cabling systems for commercial and defense clients.
Butler National Corporation (OTCQX: BUKS) reported strong Q1 FY2026 financial results, with operating income increasing 32% to $4.67 million and net income surging 64% to $3.69 million. Revenue grew 1.5% to $20.13 million, driven by a 7% increase in Aerospace Products segment revenue to $11.3 million.
The company's Aerospace Products segment showed significant improvement with operating margins expanding to 25% from 13% year-over-year, benefiting from Butler-Tempe production efficiencies and increased Aircraft Avionics business. The Professional Services segment saw a 5% revenue decline to $8.8 million, impacted by increased Kansas gaming revenue share and regional economic challenges, though mobile sports wagering revenue grew to $1.3 million.
During Q1, Butler National repurchased 2.41 million shares and has authorized an additional $5 million for future stock repurchases.
Avcon Industries (OTCQX:BUKS) and its affiliate Butler Avionics have received FAA Supplemental Type Certificate (STC) approval for installing non-halon portable fire extinguishers in multiple Learjet aircraft models. The certification (STC No. ST12087CH) enables the replacement of existing halon fire extinguishers with Halotron BrX-filled alternatives.
The approval is particularly significant as it addresses the European Union's mandate requiring replacement of hand-held halon fire extinguishers in airplane cabins and crew compartments by December 31, 2025. The company is currently pursuing EASA validation of the STC approval and working to expand the STC-approved model list.
Butler National Corporation (OTCQX: BUKS) has announced a significant share repurchase initiative, having bought back 2.41 million shares at an average price of $1.51 per share since April 30, 2025. The company has concluded its 2016 Stock Repurchase Program and launched a new $5 million repurchase program extending through April 2027.
The new program authorizes the repurchase of approximately 4.8% of the company's 64.8 million outstanding shares at current market prices. Of the recent 2.41 million share repurchase, Butler National has paid $2.9 million to sellers with $0.9 million in remaining payment obligations due before December 31, 2025.