Frequency Electronics Posts Record Revenue and Backlog Growth
Frequency Electronics reported a significant beat in Q1 fiscal 2027, with revenue hitting an all-time high and funded backlog expanding to a record level.
Frequency Electronics (NASDAQ:FEIM) shares jumped 29.55% to $80.40 in after-hours trading on Thursday, following the release of first-quarter fiscal 2027 results. The New York-based defense technology firm reported earnings per share of $0.41, a 173.3% increase over the analyst consensus of $0.15. This performance marked a substantial deviation from market expectations for the period ending July 31.
Revenue for the quarter reached $23.45 million, exceeding the forecasted $17.85 million by 31.4%. Operating income surged to $5.2 million, up from $0.4 million in the same period last year. According to data from GN stocks/shares-surge, the stock had closed the regular session at $62.06, a 2.48% decline, before the post-market reaction.
Record Backlog Supports Financial Outlook
The company’s funded backlog climbed to a record $129 million, up from $111 million in the previous quarter. CEO Tom McClelland highlighted that the firm added approximately $73 million in cash during the period. He noted that revenue grew 70% year-over-year and 52% sequentially, establishing a new all-time high for the business.
McClelland stated that these results increase confidence in the company’s ability to meet or exceed its previous guidance of $150 million or more in annual revenue by Fiscal 2029. The strong momentum in the backlog indicates sustained demand for the company’s electronic warfare and defense technologies.
Market Valuation Reflects Recent Momentum
With a market capitalization of $693.68 million, Frequency Electronics sits near its 52-week high of $80.60, having started the period at a low of $26.05. The stock has gained 80.67% over the past 12 months. Technical indicators show a Relative Strength Index of 45.91, with the stock trading at approximately 66% of its 52-week range.
Technical Indicators Show Consolidation Trends
Benzinga’s Edge Stock Rankings indicate that the stock exhibits long-term upward movement alongside medium and short-term consolidation. The momentum is currently in the 90th percentile, suggesting strong underlying demand despite recent price fluctuations. The after-hours surge confirms investor confidence in the company’s delivery against its fiscal targets.
