Highest-materiality recent filing
CEO Christopher J. Reedy retires due to health; CFO Adam Sefchick named Interim CEO
Christopher J. Reedy retired as CEO effective June 15, 2026 due to health considerations; will remain on Board and as special advisor until July 1, 2027.
Butler National Q3 FY2026 revenue rises 27% to $26.9M; EPS doubles to $0.10
Revenue $26.9M (+27% YoY); operating income $9.2M (+129%); net income $6.7M (+98%); EPS $0.10 vs $0.05.
Butler National Q2 FY2026 EPS $0.09 vs $0.05 YoY; revenue up 9% to $23.3M
Net income $5.99M, up 67% YoY; operating income $7.08M, up 46%.
Butler National Q1 FY2026 EPS $0.06 vs $0.03; operating income up 32%
Revenue $20.1M (+1.5% YoY); operating income $4.7M (+32%); net income $3.7M (+64%).
Butler National repurchases 2.41M shares, launches $5M new buyback
Repurchased 2.41 million shares since Apr 30, 2025 at avg $1.51 per share.
Butler National reports record FY2025 revenue $84M, EPS $0.19, operating income up 27%
Revenue $84.0M (+7% YoY); operating income record $16.8M (+27%); EPS $0.19 vs $0.18.
Butler National appoints Adam Sefchick as CFO with $290K base salary
Adam Sefchick, CPA, appointed CFO effective May 14, 2025; prior CFO Mickie Lamphere left May 13, 2024 (as reported).
Butler National Q3 revenue up 12% to $21.2M; EPS $0.05 vs $0.03
Revenue $21.2M (+12% YoY); net income $3.4M vs $2.4M; diluted EPS $0.05 vs $0.03.
Butler National reduces CEO and CFO base salaries; grants restricted stock and severance agreements
CEO Reedy base salary decreased from $595K to $580K; CFO Peters from $610K to $538,667.
Butler National Corporation terminates CFO Tad M. McMahon effective January 2, 2025
Butler National Corporation terminated Tad M. McMahon as Chief Financial Officer and Secretary on January 2, 2025.
Butler National Q2 FY2025 operating income up 35% to $4.9M; revenue $21.4M (+9% YoY)
Revenue $21.36M (+9% YoY); operating income $4.85M (+35% YoY); net income $3.6M vs $5.0M (prior year had $3.7M gain on aircraft sale).
Shareholders elected directors Jeffrey D. Yowell and Joseph P. Daly for three-year terms ending 2027, with over 43.8 million votes each.
Butler National Q1 revenue up 15% to $19.8M; operating income surges 211% to $3.5M
Net income $2.2M ($0.03 EPS) vs $719K ($0.01 EPS) in Q1 FY24.
Butler National reports record FY2024 EPS $0.18, revenue $78.4M up 4% YoY
Record diluted EPS $0.18 vs $0.06 in FY2023; net income $12.5M up from $4.5M.
Butler National Q3 revenue down 7% to $18.96M; operating income up 12% to $3.8M
Revenue $18.96M (down 7% YoY); net income $2.38M ($0.03 EPS) vs $1.98M ($0.03 EPS) in prior year.
Butler National Q2 revenue $19.6M (+1%), EPS $0.07 vs $0.03; backlog $26.7M
Revenue $19.6M (+1% YoY); net income $5.0M ($0.07 dil EPS) vs $2.7M ($0.03) prior year.
Butler National boosts CEO, CFO, and VP salaries; director awarded 300k shares
Christopher Reedy (CEO) base salary increased to $595,000; Tad McMahon (CFO/Secretary) to $375,000; Joe Peters to $610,000, retroactive to May 1, 2023.
Butler National acquires KC Machine for $2.9M to bolster aircraft parts fabrication
Acquired substantially all assets of KC Machine, LLC for approximately $2.9 million; deal closed September 29, 2023.
Butler National FY2023 net income plunges to $4.5M despite 5% revenue growth to $75.2M
Revenue $75.2M, +5% YoY; net income $4.5M ($0.06 diluted EPS) vs $10.4M ($0.14) last year.
Butler National directors resign; company to redeem ~8% of outstanding stock at $0.739/share
Clark D. Stewart (former CEO) and Craig D. Stewart (former President of Aerospace) resign from board, effective July 28, 2023.
Butler National promotes Chris Reedy to President and CEO; Stewart departs as COO eliminated
Christopher J. Reedy, 57, appointed President and CEO on May 10, 2023; formerly COO and Secretary, 22-year tenure.
Butler National Q3 revenue up 16% to $20.5M; net income down to $0.03 EPS
Revenue $20.5M (vs $17.6M YoY); Aerospace Products +25%, Professional Services +8%.
Effective June 15, 2026, the Board of Directors appointed Adam B. Sefchick, as Interim Chief Executive Officer and President.
With the appointment of Mr. Sefchick, Butler National concluded its contract relationship with Mickie Lamphere on May 13, 2024, previously engaged through Morgan Hunter.
Effective May 14, 2025, Butler National Corporation (the “Company”) appointed Adam B. Sefchick to the position of Chief Financial Officer.
As a result, Butler National Corporation eliminated the position of BNC Vice President & Director of Sales and terminated the employment Joe Aric Peters on May 1, 2025.
On April 11, 2025, the Board of Directors (the “Board”) of Butler National Corporation (the “Company”) was increased in size from 6 director positions to 7 and Julie M. Bowen was appointed to fill the newly created vacancy.
Effective March 13, 2025, Butler National Corporation (the “Company”) appointed Mickie Lamphere, an employee of Morgan Hunter, an executive services firm, to the position of Interim Chief Financial Officer.
Effective January 2, 2025, Butler National Corporation terminated the employment of Tad M. McMahon.
The Board established the position of Lead Independent Director and the independent directors elected Mr. Jeffrey D. Yowell to serve as Lead Independent Director.
On August 16, 2024, the Board of Directors (“Board”) of Butler National Corporation (the “Company”) appointed Christopher J. Reedy as Chairman.
Mr. Wagoner, the former Chairman, will continue to serve as a member of the Board until the Company’s 2024 annual meeting of stockholders.
Mr. Loh filled the vacancy left by Mr. Peters and will complete the remainder of Mr. Peter’s Class II term.
On August 5, 2024, the Board of Directors (the “Board”) of Butler National Corporation (the “Company”) appointed Lieutenant General (Ret) Michael A. Loh as a director.
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