Key Highlights

  • Allison Transmission reported third quarter 2026 net sales of $1,534 million, up 121%, including $653 million from an acquired business.
  • BWX Technologies reported a Backlog of $8.56 billion at Sep 30, 2026.
  • V2X raised its 2026 Revenue range to $4.95 billion to $5.1 billion.
  • Voyager Technologies reported record net sales of $88.7 million alongside a net loss of $55.7 million.
  • TAT Technologies reported record revenue of $55.6 million, up 20.2%.

Which Industrial, Aerospace and Defense Companies Reported Third-Quarter 2026 Results?

Five industrial, aerospace and defense companies reported third-quarter 2026 results around Nov 2, 2026, and all five grew revenue. Allison Transmission (NYSE:ALSN) reported net sales of $1,534 million, up 121%, and Net Income of $191 million. BWX Technologies (NYSE:BWXT) posted revenue of $953.0 million, up 10.0%, and net income attributable of $101.7 million.

V2X (NYSE:VVX) reported revenue of $1.271 billion, up 8.9%, and net income of $32.0 million. Voyager Technologies (NYSE:VOYG) reported net sales of $88.7 million, up 124.1%, with a net loss attributable of $55.7 million. TAT Technologies (NASDAQ:TATT) reported revenue of $55.6 million, up 20.2%, and net income of $7.7 million.

Revenue bases range from $55.6 million to $1,534 million, so percentage growth is not like-for-like. The group spans transmissions, nuclear components, government services, space technology and aviation aftermarket work. Allison Transmission's figure includes an acquired business, and V2X reports a quarter that ended Oct 2, 2026.

Allison Transmission: How Much of 121% Growth Came From Off-Highway?

Allison Transmission reported net sales of $1,534 million, of which $653 million came from the Allison Off-Highway Business acquired on Jan 1, 2026. The core transmission unit set a quarterly record of $881 million, up 27%, and North America On-Highway sales hit a record $462 million, up 41%.

Diluted EPS was $2.30 versus $1.63, and adjusted diluted EPS was $2.90. Adjusted EBITDA reached $400 million, but the Margin eased to 26.1% from 36.9% because of the lower-margin acquired business.

The company raised 2026 net sales guidance to $5,975 million to $6,075 million for the second straight quarter, though its article does not state the prior ranges. It repurchased $57 million of stock in the quarter.

BWX Technologies: What Does an $8.56 Billion Backlog Support?

BWX Technologies reported revenue up $86.7 million to $953.0 million, with diluted EPS of $1.11 versus $0.89. Government Operations revenue grew 3.6% to $639.1 million at a 19.2% operating margin, while Commercial Operations revenue grew 25.2% to $314.2 million.

The company manufactures naval nuclear reactors and fuel for the U.S. Navy and serves commercial nuclear power markets. Backlog totaled $8.56 billion, up from $7.26 billion at Dec 31, 2025, and about $1.97 billion of it is unfunded U.S. Government work.

On Jul 31, 2026, it agreed to sell its medical business for up to $800 million, with closing expected in 2026 or the first quarter of 2027. Its article contains no guidance.

V2X: Which Programs Lifted Revenue to $1.271 Billion?

V2X reported revenue up 8.9%, helped by aerospace and modernization program increases and a $128.9 million increase from discrete activities supporting a national security mission. Middle East revenue fell $104.1 million, or 30%, as a customer reduced program scope.

The company provides engineering, mission readiness and global logistics services to government customers. Net income rose to $32.0 million, or $1.01 per diluted share, and adjusted diluted EPS was $1.64.

Quarterly awards of about $1.6 billion produced a book-to-bill ratio of 1.2x and a total backlog of $12.8 billion. The company raised its 2026 outlook to adjusted diluted EPS of $6.15 to $6.55, though its article does not state the prior ranges.

Voyager Technologies: Can Record Backlog Offset a Widening Loss?

Voyager Technologies reported record net sales of $88.7 million, up 124.1% from $39.6 million, and a record backlog of $742 million, including $347 million added through an acquisition. Bookings hit a record $116 million, a 1.3x book-to-bill ratio.

The defense technology and space company reported a net loss attributable of $55.7 million, or $0.91 per share, versus $16.3 million, as gross margin fell to 11.5% from 15.4% and selling, general and administrative expense climbed to $47.8 million from $25.1 million.

It raised the low end of 2026 revenue guidance by $10 million, to $285 million to $305 million. Free Cash Flow was an outflow of $47.8 million, and total Liquidity was $815.7 million.

TAT Technologies: How Did Record Margins Coexist With a Lower Backlog?

TAT Technologies reported record revenue of $55.6 million, a record gross margin of 30.9% and record adjusted EBITDA of $10.9 million. Diluted Earnings per Share rose to $0.58 from $0.37, and auxiliary power unit revenue grew 34.4%.

The company provides aviation aftermarket services, including repair and overhaul of auxiliary power units and heat exchangers. Backlog fell to $577 million from $615 million, which its article attributes to $34 million of landing gear contracts removed because of component shortages.

The company did not publish formal guidance, and expects to begin paying income taxes in 2027. Its article draws on a call transcript only, and its exchange listing was not stated in the files.

Industrial and Defense Scorecard: Backlog, Growth and Margin Compared

Combined revenue across the five companies was about $3.90 billion (calculated), and combined net income was about $277 million (calculated), with Voyager Technologies' loss subtracting from the total. The simple average revenue growth was about 56.8% (calculated), although the median was 20.2%, because Allison Transmission and Voyager Technologies each more than doubled sales.

Net income as a share of revenue was about 13.8% at TAT Technologies (calculated), 12.5% at Allison Transmission (calculated), 10.7% at BWX Technologies (calculated), 2.5% at V2X (calculated) and negative 62.8% at Voyager Technologies (calculated).

Backlog figures from four of the companies total about $22.7 billion (calculated), with Allison Transmission not reporting one in its article. Three of the five raised guidance: Allison Transmission, V2X and Voyager Technologies.

What to Watch Next: Quarterly Filings, December Submissions and the Medical Sale

Voyager Technologies' NASA submissions are due in December 2026, with an award anticipated in spring 2027, and its lander launch is planned for late 2026. BWX Technologies expects its medical sale to close in 2026 or the first quarter of 2027.

Allison Transmission's Quarterly Report was due later in the week of Nov 2, 2026, with no exact date given. V2X said formal 2027 guidance is still to come, with no date identified.

TAT Technologies expects to begin paying income taxes in 2027, and no other dated event was identified in its materials.