TechPrecision Corporation Surpasses Expectations in Q1 Fiscal 2027 with 23% Revenue Growth
TechPrecision Corporation, a leading provider of complex manufacturing and engineering services, has reported outstanding results for its first quarter fiscal 2027. The company's consolidated revenue reached $9.1 million, marking a 23% increase from the same period in fiscal 2026.
"This significant growth is attributed to the strong performance at both our Ranor and Stadco segments," said Alex Shen, Chief Executive Officer of TechPrecision Corporation. "We have executed on our strategy to improve customer project mix and gross margin expansion, which has resulted in higher revenue and gross profit."
At Ranor, the company's revenue increased by 27% compared to the prior year first quarter results, with $5.5 million in sales. This growth is driven by the execution of new equipment funded by grants from the U.S. Navy submarine programs-related customers. The sustained cadence of new equipment procurement, delivery, and installation has enabled a reliable, robust, and resilient manufacturing capacity dedicated to submarine programs.
Stadco also reported impressive results, with revenue increasing by 22% to $4.1 million. This growth is attributed to the successful execution on our strategy to improve customer project mix and gross margin expansion. Our customers have expressed strong confidence in our ability to deliver quality components on time, leading to new capture of business awards from these same customers.
Both Stadco and Ranor continue to experience meaningful new capture of business awards from their air defense and submarine defense customers, adding to the company's strong $52 million backlog. This includes only the funded portions of customer purchase orders, with an additional approximately $22 million of unfunded purchase orders.
The company's delivery performance is also leading both Stadco and Ranor to new quoting opportunities in air defense and submarine defense sectors. These quoting opportunities enhance our potential to improve throughput for first articles and new work scopes.
Regarding the company's backlog, TechPrecision Corporation expects to deliver its $52 million backlog over the course of the next one to three fiscal years with gross margin expansion. The company remains on track to meeting its fiscal year 2027 guidance provided in June 2026."
