Why Did Karman Stock Jump?
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Karman (KRMN) stock climbed 42.1% on Friday, November 6, 2026, while the S&P 500 gained 0.3%. The advance occurred the session after the company reported third-quarter results that beat estimates on both earnings and revenue. Two other companies on its peer list, Firefly Aerospace and Lyntris, also rose sharply that day. So what did Karman’s third-quarter results show?
Karman Beat Estimates And Raised 2026 Sales Guidance
For the quarter ended September 30, Karman posted revenue of $202 million, topping the $194.8 million analysts expected. Adjusted earnings per share reached $0.19 against an estimate of about $0.15. Total revenue rose 65.6% from a year earlier, although management said organic growth from businesses owned for more than 12 months was 25%.
Orders also continued to arrive during the quarter. Management said backlog, which counts only firm binding customer commitments, reached $1.7 billion. That figure more than doubled the level recorded at the end of 2025. Karman also raised its 2026 revenue forecast to a range of $755 million to $760 million. Management said most of that increase came from performance in the first nine months of 2026 and expectations for the fourth quarter, with some contribution from the Walker acquisition. With Walker, now called Karman Europe, Karman operates in the U.K. and the European Union.
Space & Launch revenue moved in the opposite direction, falling 7% from a year earlier. Management tied the decline to one launch customer, ULA, shifting its Vulcan launch schedule.
Did Karman Rise Alone Or With Peers?
Karman outpaced both the broader market and its sector. XLI, the SPDR fund for industrial stocks, gained 0.1% during the same session.
Two companies on the Karman peer list made large moves as well. Firefly Aerospace gained 37% on November 6, the same day it signed a rocket engine deal with AST SpaceMobile valued at more than $1.3 billion. Shares of Lyntris rose 29%, while the rest of the peer list moved less than 6% in either direction. Karman moved far more than its sector, but it did not move alone among its peers.
Where Does Karman Stock Stand After The Jump?
Karman had not recorded a single-day gain this large in the prior 365 days. The jump followed two consecutive weak sessions, with the stock falling 13.5% on November 4 and dropping 6.1% on November 5, the day of the report.
Even after the Friday rally, Karman stock lost 42.8% over the twelve months to November 6, compared to a 9.8% return for the S&P 500. Shares reached their highest close for that period at $115.29 on January 28, 2026. The lowest close occurred at $30.14 on October 14, and the stock has gained 43.9% in the month since October 8.
Management said Karman continues to invest ahead of its orders. Free cash flow was $13.4 million in the third quarter, which management credited to tighter working capital management. Karman recorded negative $7.46 million in free cash flow over the twelve months to September 30, and free cash flow is the measure to watch when the company reports its fourth quarter of fiscal 2026.
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