# EDGAR Filing Document

**Accession Number:** 0000015847
**File Stem:** 0000015847-26-000005
**Filing Date:** 2026-3
**Character Count:** 16991
**Document Hash:** d0f781d50e1920943909dfe68ab03d03
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000015847-26-000005.hdr.sgml**: 20260312

**ACCESSION NUMBER**: 0000015847-26-000005

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260312

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260312

**DATE AS OF CHANGE**: 20260312

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BUTLER NATIONAL CORP
- **CENTRAL INDEX KEY:** 0000015847
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 410834293
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-01678
- **FILM NUMBER:** 26745916

**BUSINESS ADDRESS:**
- **STREET 1:** ONE AERO PLAZA
- **CITY:** NEW CENTURY
- **STATE:** KS
- **ZIP:** 66031
- **BUSINESS PHONE:** 9137809595

**MAIL ADDRESS:**
- **STREET 1:** ONE AERO PLAZA
- **CITY:** NEW CENTURY
- **STATE:** KS
- **ZIP:** 66031

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONAL CONNECTOR CORP
- **DATE OF NAME CHANGE:** 19701009

?xml version='1.0' encoding='ASCII'? buks-20260312

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of report (Date of earliest event reported) March 12, 2026

**BUTLER NATIONAL CORPORATION**

(Exact Name of Registrant as Specified in its Charter)

**Kansas**

(State or Other Jurisdiction of Incorporation)

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| | |
|:---|:---|
| **0-1678**<br> (Commission File Number) | **41-0834293**<br> (IRS Employer Identification No.) |
| **One Aero Plaza, New Century, Kansas**<br> (Address of Principal Executive Offices) | **66031**<br> (Zip Code) |

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**913-780-9595**

(Registrant's Telephone Number, Including Area Code)

**Not Applicable**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered <br> <u>None</u> <u>None</u> <u>None</u>

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| Item 2.02 | Results of Operations and Financial Condition |
|  | On March 12, 2025 Butler National Corporation issued a press release announcing its financial results for the quarter ended January 31, 2026. A copy of the press release is attached as Exhibit 99 to this Current Report on Form 8-K.<br>The information furnished under this Item 2.02, including Exhibit 99, shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, of the Exchange Act, except as otherwise expressly stated in any such filing. |
| Item 9.01 | Financial Statements and Exhibits |
| Exhibit 99 | <u>[Press release announcing Butler National Corporation quarter ended January 31, 2026 financial results.](buks-exx99x13126pressrelea.htm)</u> |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | |
|:---|:---|
| | BUTLER NATIONAL CORPORATION<br>(Registrant) |
| March 12, 2026<br>Date | /s/ Christopher J. Reedy<br>Christopher J. Reedy<br>(Chief Executive Officer, President and Secretary) |

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## Ex-99

**Exhibit 99**

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| | |
|:---|:---|
| **PRESS RELEASE**<br>**FOR IMMEDIATE RELEASE** | **March 12, 2026** |
| **BUTLER NATIONAL CORPORATION ANNOUNCES THIRD QUARTER 2026 FINANCIAL RESULTS** <br>- Revenue increased 27% to $26.9 million - Operating income increased 129% to $9.2 million <br>- Net income increased 98% to $6.7 million - Earnings per share increased to $0.10 from $0.05<br>• Diluted earnings per share increased to $0.10 from $0.05<br>- Earnings Per Share increased to $0.10 from $0.05<br>-Operating income of $4.7 million reflects a 32% increase from prior year first quarter | **BUTLER NATIONAL CORPORATION ANNOUNCES THIRD QUARTER 2026 FINANCIAL RESULTS** <br>- Revenue increased 27% to $26.9 million - Operating income increased 129% to $9.2 million <br>- Net income increased 98% to $6.7 million - Earnings per share increased to $0.10 from $0.05<br>• Diluted earnings per share increased to $0.10 from $0.05<br>- Earnings Per Share increased to $0.10 from $0.05<br>-Operating income of $4.7 million reflects a 32% increase from prior year first quarter |

---

**NEW CENTURY, KANSAS, March 12, 2026** - Butler National Corporation (OTCQX: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the third quarter ended January 31, 2026 ("Q3 FY2026"). **The Company will host a conference call on Friday, March 13, 2026 at 10:00 AM Central Time to review these results.**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Historical selected financial data related to all operations:** | **Historical selected financial data related to all operations:** | **Historical selected financial data related to all operations:** | **Historical selected financial data related to all operations:** | | |
| (In thousands, except shares and per share data) | (In thousands, except shares and per share data) | Quarter Ended<br>January 31 | Quarter Ended<br>January 31 | Nine Months <br>Ended January 31 | Nine Months <br>Ended January 31 |
|  |  | Quarter Ended<br>January 31 | Quarter Ended<br>January 31 | Nine Months <br>Ended January 31 | Nine Months <br>Ended January 31 |
|  |  | 2026 | 2025 | 2026 | 2025 |
| Revenue | Revenue | $&nbsp;&nbsp;&nbsp;&nbsp;26913&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;21174&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;70289&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;62363&nbsp;&nbsp;&nbsp;&nbsp; |
| Operating Income | Operating Income | $&nbsp;&nbsp;&nbsp;&nbsp;9238&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;4026&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;20982&nbsp;&nbsp;&nbsp;&nbsp; | $12416 |
| Net Income | Net Income | $&nbsp;&nbsp;&nbsp;&nbsp;6699&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;3378&nbsp;&nbsp;&nbsp;&nbsp; | $16378 | $&nbsp;&nbsp;&nbsp;&nbsp;9220&nbsp;&nbsp;&nbsp;&nbsp; |
| Weighted Average Shares – Diluted | Weighted Average Shares – Diluted | &nbsp;&nbsp;&nbsp;&nbsp;64231747&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp;&nbsp;&nbsp;66960627&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp;&nbsp;&nbsp;65253135&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp;&nbsp;&nbsp;67861002&nbsp;&nbsp;&nbsp;&nbsp; |
| Earnings Per Share | Earnings Per Share | $&nbsp;&nbsp;&nbsp;&nbsp;0.10&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;0.05&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;0.25&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;0.14&nbsp;&nbsp;&nbsp;&nbsp; |
| <br>**Selected Balance Sheet data** | <br>**Selected Balance Sheet data** | <br>**Selected Balance Sheet data** |  |  |  |
| (In thousands) | As of<br>January 31, 2026 | As of<br>January 31, 2026 | As of<br>April 30, 2025 |  |  |
| Total Assets | $&nbsp;&nbsp;&nbsp;&nbsp;140984&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;140984&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;123298&nbsp;&nbsp;&nbsp;&nbsp; |  |  |
| Long-term liabilities | $&nbsp;&nbsp;&nbsp;&nbsp;29434&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;29434&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;33770&nbsp;&nbsp;&nbsp;&nbsp; |  |  |
| Stockholders' Equity | $&nbsp;&nbsp;&nbsp;&nbsp;76344&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;76344&nbsp;&nbsp;&nbsp;&nbsp; | $&nbsp;&nbsp;&nbsp;&nbsp;65114&nbsp;&nbsp;&nbsp;&nbsp; |  |  |

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**Management Comments**

Christopher Reedy, President and CEO of Butler National Corporation, commented: "Our third quarter results reflect continued strong performance across our Aerospace Products segment, particularly in aircraft modifications and special mission electronics. The operational improvements we have implemented over the past several years and repetitive product sales are translating into meaningful margin expansion and improved profitability. We are also continuing to invest in new FAA Supplemental Type Certificates (STC) and product development initiatives that we believe will support long-term revenue growth."

The third quarter of fiscal year 2026 continued the Company's strong financial trajectory, setting new records for both quarterly and year-to-date revenue and operating income. Revenue increased 27% to $26.9 million compared to $21.2 million in the third quarter of fiscal 2025. Operating income increased 129% to $9.2 million, and net income increased 98% to $6.7 million, both compared to the same period last year.

These results reflect continued productivity improvements across the organization, including fabrication efficiencies, expanded installation capacity, and a more diversified product sales mix. Aerospace Products segment growth was the primary driver of the quarter's performance, along with continued contributions from sports wagering within the Professional Services segment.

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During the first nine months of fiscal 2026, the Company invested approximately $1.6 million in the development and production of new products. Management believes these investments will support future revenue growth and additional high-margin modification programs.

We repurchased 222,168 shares of our outstanding common stock during the third quarter as part of our ongoing capital allocation strategy.

**Business Segment Highlights**

**<u>Aerospace Products:</u>**

Revenue from the Aerospace Products segment increased 50% to $17.1 million in Q3 FY2026 compared to $11.4 million in Q3 FY2025. The increase in revenue was primarily driven by a $3.1 million increase in aircraft modification activity and a $2.3 million increase in the sales of special mission electronics.

Butler National-Tempe continued to experience strong demand for its legacy electronic control systems as well as deliveries of M134 minigun gun control units. In addition, the Company's aircraft avionics business achieved gains during the quarter due to fire extinguisher system sales and long-term ongoing avionics modification work.

**<u>Professional Services:</u>**

Revenue from the Professional Services segment was $9.9 million in Q3 FY2026 compared to $9.8 million in Q3 FY2025. Mobile sports wagering revenue increased to $2.2 million compared to $1.8 million in the prior year quarter, reflecting continued growth in that market.

Traditional casino gaming revenue decreased to $6.5 million in Q3 FY2026, a 5% decrease compared to the prior year period, reflecting broader economic pressures affecting the regional agricultural economy in western Kansas. The Company continues to pursue initiatives designed to increase visitation and enhance the entertainment offerings at Boot Hill Casino & Resort, including the development of the adjacent Glo Hotel property by a local hospitality provider.

**<u>Backlog:</u>**

As of January 31, 2026 and 2025, our backlog totaled approximately $37.0 million and $35.2 million, respectively. The backlog includes firm, pending, and contract orders, which may not be completed within the next fiscal year. There can be no assurance that all orders will be completed or that some may ever commence.

**<u>Conference Call</u>**:

What: Butler National Corporation Third Quarter Fiscal 2026 Financial Results Conference Call

When: Friday, March 13, 2026 - 10:00 AM Central Time

How: Live via phone by dialing: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 325 1307 - Toll-Free

858 244 1252 - Toll (international)

Passcode: 565658

Participants to the conference call should call in at least 5 minutes prior to the start time. An audio recording of the conference call will be made available on the Butler National Corporation website Investor Page (https://butlernational.com/investing/) following the call until April 13, 2026. Management will select questions to address that are submitted in advance via the Company's investor relation website.

**<u>Our Business:</u>**

Butler National Corporation operates in the Aerospace and Professional Services business segments. The Aerospace Products segment includes the design, manufacture, sale and service of structural modifications, design, integration and installation of electronic equipment, systems and technologies that enhance aircraft operations, and the design, manufacture and sale of defense related articles. Additionally, we operate FAA Repair Stations. Companies in Aerospace Products concentrate on products and services for Learjet, Textron Beechcraft, King Air, and Textron Cessna turboprop aircraft. Butler National-Tempe designs and manufactures robust electronic controls and cabling. The Professional Services segment includes the management of a gaming, dining and entertainment facility in Dodge City, Kansas. Boot Hill Casino and Resort features approximately 500 slot machines, 15 table games and a DraftKings branded sportsbook.

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**<u>Forward-Looking Information:</u>**

Statements made in this report, other reports and proxy statements filed with the Securities and Exchange Commission, communications to stockholders, press releases, and oral statements made by representatives of the Company that are not historical in nature, or that state the Company or management intentions, hopes, beliefs, expectations or predictions of the future, may constitute "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements can often be identified by the use of forward-looking terminology, such as "could," "should," "will," "intended," "continue," "believe," "may," "expect," "anticipate," "goal," "forecast," "plan," "guidance" or "estimate" or the negative of these words, variations thereof or similar expressions. Forward-looking statements are not guarantees of future performance or results. They involve risks, uncertainties, and assumptions. It is important to note that any such performance and actual results, financial condition or business, could differ materially from those expressed in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in Item 1A of the Company's Annual Report on Form 10-K, incorporated herein by reference. Other unforeseen factors not identified herein could also have such an effect. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time, except as expressly required by federal securities laws.

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| | |
|:---|:---|
| **FOR MORE INFORMATION, CONTACT:** | **FOR MORE INFORMATION, CONTACT:** |
| David Drewitz, Public Relations<br>david@creativeoptionscommunications.com<br>www.creativeoptionscommunications.com | Ph (972) 814-5723 |
| Butler National Corporation Investor Relations | Ph (913) 780-9595 |

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**THE WORLDWIDE WEB:**

Please review www.butlernational.com for pictures of our products and details about Butler National Corporation and its subsidiaries.

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