Taylor Devices Reports 6% Revenue Growth and 17% Net Income Increase for Nine Months Ending February 28, 2026

Taylor Devices, Inc. reported a solid financial performance for the nine months ending February 28, 2026, with net revenue reaching $32.7 million, a 6% increase from $30.7 million in the same period last year. The company's net income also saw a significant rise, increasing by 17% to $6.7 million compared to $5.7 million in the prior year. The gross profit for the period was $14.4 million, reflecting a 3% increase, although the gross profit margin slightly decreased to 44% from 45% year-over-year. The increase in revenue was attributed to a 35% rise in sales from non-long-term projects, despite a decline in revenue from long-term projects.

In terms of operational metrics, Taylor Devices had 37 long-term projects in progress during the nine-month period, up from 31 in the previous year. However, revenue from these projects was 11% lower than the prior year. The company experienced a 12% increase in total sales within the U.S., while international sales decreased by 21%. The shift in sales dynamics was attributed to normal fluctuations in structural project activity, with notable increases in sales to aerospace and defense customers, which rose by 22%. Conversely, sales to industrial and structural customers declined by 12% and 16%, respectively.

The company’s balance sheet showed total assets of $75.5 million as of February 28, 2026, up from $71.6 million at the end of the previous fiscal year. Current assets increased to $61.1 million, driven by higher cash and short-term investments. Taylor Devices reported a decrease in accounts receivable to $4.9 million, down 13% from the previous year, while inventory also declined by 8% to $7.5 million. The company’s backlog of sales orders decreased to $20.8 million from $27.1 million, indicating a shift in project timelines and expectations for revenue recognition.

Looking ahead, Taylor Devices anticipates recognizing the majority of its backlog during fiscal years 2026 and 2027. The company is also evaluating additional capital expenditures to expand its capacity, with commitments totaling $1.6 million over the next twelve months. Management noted that fluctuations in backlog, revenues, and profits are expected and do not necessarily predict future results. The company remains focused on maintaining its operational efficiency and adapting to market conditions as it continues to serve its diverse customer base across industrial, structural, and aerospace/defense sectors.