Melrose Industries PLC (LSE:MRO, OTC:MLSPF) shares fell 3.5% to 458.8p after the aerospace and defence group warned of further exceptional costs linked to a chemical tank incident at its Garden Grove facility in the US.
The company said it expects to incur additional exceptional costs of between £25 million and £30 million in the second half of 2026 as it continues its response to the incident, including regulatory and legal processes.
Melrose has paused its £175 million share buyback programme while it assesses the full financial impact of the incident. The company said its insurance position is also under review.
The Garden Grove facility has returned to partial production following the incident in May and is expected to operate at around 50% of normal capacity until full production resumes. Melrose said the incident reduced first-half revenue by 16.00 million and adjusted operating profit by 9.00 million.
Despite the impact, Melrose reported a 10% increase in first-half revenue to £1.87 billion and a 16% rise in adjusted operating profit to £347 million. Adjusted operating margin improved to 18.5%, while free cash flow increased by £67 million to an inflow of £13 million.
Chief executive Peter Dilnot said: "We are managing the situation at our Garden Grove transparencies site following the incident in May. Partial production has since resumed, and we will continue to work closely with customers, regulators and other authorities to safely restore the site to full production in the second half."
The company maintained its full-year guidance excluding the impact of Garden Grove. It expects revenue of between £3.75 billion and £3.95 billion, adjusted operating profit of between £700 million and £750 million, and free cash flow after interest and tax of between £150 million and £200 million.
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Distribution Solutions Group, Inc. (NASDAQ: DSGR) (âDSGâ or the âCompany"), a premier, multi-platform distribution company, today announced that it will
VSE Corporation (âVSEâ or the âCompanyâ) (NASDAQ: VSEC, VSECU), a leading provider of aviation aftermarket distribution and repair services, announced t
MTU Aero Engines is rated Strong Buy, with 37% upside, driven by robust commercial MRO and military engine growth. MTU's €31.6 billion backlog, expanding GTF installed base, and rising defense exposure underpin multi-year earnings and free cash flow growth. Margins are pressured by a growing GTF MRO mix, but long-term MRO margin targets and cash conversion are set to improve significantly.
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--StandardAero, Inc. (NYSE: SARO), a leading independent pure-play provider of aerospace engine aftermarket services including engine maintenance, repair and overhaul (MRO) and engine component repair, has signed an agreement with Arajet, the flagship airline of the Dominican Republic, to provide MRO services for the CFM International LEAP-1B engine. The LEAP-1B powers Arajet's growing fleet of new generation Boeing 737 MAX 8 narrowbody aircraft. Under this new.
Key Takeaways BAE Systems is expanding in naval MRO through ship repair, modernization and sustainment services.Geopolitical tensions and higher defense spending are driving demand for naval MRO services worldwide.BAESY shares rose 1.1% in the past month, trailing the industry's 5% growth. BAE Systems (BAESY - Free Report) continues to strengthen its position in the global naval maintenance, repair and overhaul (MRO) market through its broad portfolio of ship repair, modernization and sustainment services for military vessels. The company plays an important role in supporting the operational readiness of the U.S. Navy and allied naval forces by providing maintenance, upgrades and lifecycle support for a wide range of naval platforms.
BAE Systems operates one of the largest naval ship repair businesses in the United States, providing maintenance, overhaul, modernization and technical support for amphibious assault ships, destroyers, cruisers and other surface combatants. Its capabilities help extend the service life of naval vessels, improve mission readiness and ensure fleet remain operational in increasingly demanding environments.
Growing geopolitical tensions, rising global defense spending and increasing investments in naval fleet modernization are driving demand for maintenance, repair and overhaul services worldwide. As navies look to extend the operational life of existing vessels while maintaining combat readiness, demand for advanced sustainment and modernization solutions is expected to remain strong.
BAE Systems is well-positioned to benefit from these long-term industry trends through its extensive experience in naval ship repair and modernization, supported by long-standing relationships with the U.S. Navy and allied defense customers. Its strong portfolio of maintenance and sustainment capabilities should enable the company to capitalize on the growing demand for naval MRO services.
Naval MRO Stocks to Keep on the RadarOther aerospace and defense companies strengthening their presence in the naval maintenance, repair and overhaul market are discussed below:
General Dynamics (GD - Free Report) : Through its Marine Systems business, General Dynamics provides lifecycle support, modernization, engineering and sustainment services for the U.S. Navy's submarine and surface ship fleet, alongside its shipbuilding operations.
Huntington Ingalls Industries (HII - Free Report) : Through its Newport News Shipbuilding and Ingalls Shipbuilding divisions, HII provides maintenance, modernization, refueling and overhaul services for aircraft carriers, submarines and other naval vessels, supporting long-term fleet readiness.
The Zacks Rundown for BAESYShares of BAESY have risen 1.1% in the past month compared with the industry’s 5% growth.
Image Source: Zacks Investment Research
The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.71X compared with its industry’s average of 14.05X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for BAESY’s 2026 and 2027 earnings has moved south over the past 60 days.
, /PRNewswire/ -- Butler National Corporation (OTCQX: BUKS), a leader in the global market for aircraft modification, maintenance, repair, and overhaul (MRO) and a recognized provider of gaming management services, announces the launch of its newly redesigned corporate website (www.butlernational.com).
Designed to serve as a central resource for the investment community and other key audiences, the new Butler National Website features a refreshed interface, improved navigation, enhanced investor relations section, and expanded information across the company's business segments. The website offers users a new email subscription feature that provides investors, customers, and other interested parties the opportunity to receive press releases, SEC filings, earnings announcements, and other company updates.
Executive Chairman Jeff Yowell said, "This new platform reflects Butler National's commitment to improving transparency and strengthening communication with our shareholders."
Readers are invited to explore the newly redesigned website to experience its enhanced features and improved accessibility.
About Butler National Corporation
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.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding future opportunities, growth, and performance. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements.
Media Contact:
Mackenzie Giller
Director of Executive Operations & Corporate Administration [email protected]
+1 (913) 780-9595
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--StandardAero, Inc. (NYSE: SARO) (“StandardAero” or the “Company”), a leading independent pure-play provider of aerospace engine aftermarket services including engine maintenance, repair and overhaul (MRO) and engine component repair, announced today that S&P Global Ratings (“S&P”) recently upgraded the Company’s credit ratings based on its investments in strategic expansion, stable margin profile, consistent top line growth as well as positive cash flow expansion.
S&P raised its issuer credit rating on StandardAero to ‘BB’ from ‘BB-,’ while simultaneously raising its issue-level ratings on the Company’s senior secured debt to ‘BB’ from ‘BB-.’
“S&P Global Ratings’ recent upgrade reflects the strength of our competitive positioning and the sustained demand we are seeing across our global MRO ecosystem,” said Dan Satterfield, Chief Financial Officer for StandardAero. “Amid ongoing capacity constraints within the industry and sustained customer demand, our differentiated platform portfolio positions us to drive long-term growth, expand profitability, and deliver robust cash generation.”
The S&P credit rating upgrade follows Moody’s announcement in May 2026 that it was upgrading StandardAero’s corporate family rating, senior secured first lien term loan B1 and B2, and senior secured revolving credit facility.
StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed- and rotary-wing aircraft, serving the commercial, military and business aviation end markets. StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. StandardAero is an NYSE listed company under the ticker symbol SARO. For more information about StandardAero, go to www.standardaero.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. In some cases, you can identify forward-looking statements by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will” or “would” and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements include statements regarding our intentions, beliefs or current expectations concerning, among other things, the expected impact of S&P Global Ratings’ upgraded issuer credit rating and issue-level ratings for the Company, and our results of operations, financial condition, liquidity, prospects, growth and strategies. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially from those forward-looking statements include, among others, risks described in our Annual Report on Form 10-K for the year ended December 31, 2025 and our other filings with the Securities and Exchange Commission. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives or plans in any specified time frame or at all. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. Forward-looking statements speak only as of the date of this press release. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
KINSTON, N.C.--(BUSINESS WIRE)--flyExclusive (NYSE American: FLYX), a vertically integrated private aviation company, today announced the completion of a Starlink installation on a Challenger aircraft under its authorized Starlink dealership agreement.
Leveraging its deep experience performing complex avionics and connectivity upgrades, flyExclusive MRO completed the Starlink installation in record time. Low-profile and lightweight in design, Starlink Aero Terminals are designed to be installed in a just a few hours, significantly reducing the time aircraft are out of service. flyExclusive MRO is now targeting a five-to-seven day cadence as additional aircraft move through the pipeline. flyExclusive MRO has performed numerous in-flight connectivity and avionics system upgrades across multiple aircraft platforms over the past several years. Management believes that experience enables the team to integrate Starlink efficiently while maintaining certification standards and minimizing aircraft downtime.
Starlink is the world's most advanced satellite constellation using a low Earth orbit to deliver broadband internet capable of supporting in-flight streaming, online gaming, video calls, and more. Unlike legacy systems that rely on ground towers or distant geostationary satellites, Starlink’s laser-mesh network delivers download speeds of 135-310 Mbps and latency less than 99 ms.
As demand for premium connectivity continues to increase, management believes reliable onboard internet has become a critical factor in aircraft selection and customer retention.
“Our team has extensive experience integrating advanced avionics and connectivity systems,” said Jim Segrave, Founder, Chairman, and CEO of flyExclusive. “Applying that expertise to Starlink allows us to execute quickly while expanding the commercial scope of our MRO business.”
In addition to deploying Starlink across its own fleet, flyExclusive MRO has secured a multi-aircraft customer installation agreement under its authorized dealership arrangement. Management views third-party Starlink installations as a meaningful step in growing maintenance and avionics into a standalone revenue vertical, further diversifying the company’s income streams beyond charter and fractional operations.
flyExclusive MRO operates a fully integrated maintenance, avionics, paint, and interior refurbishment platform in Kinston, North Carolina. While historically supporting the company’s fleet, the MRO division has increasingly expanded services to third-party operators. Management believes this positions the company to generate incremental, high-margin revenue opportunities that are not directly tied to flight activity levels.
The company expects continued fleet-wide deployment of Starlink while actively pursuing additional installation opportunities under its dealership program.
For more information about flyExclusive and its services, visit www.flyexclusive.com.
About flyExclusive
flyExclusive (NYSE American: FLYX) is a vertically integrated, FAA-certificated private aviation company providing charter, Jet Club membership, and fractional ownership services worldwide. The company operates one of the largest private jet fleets in the U.S., with full operational control over maintenance, refurbishment, and avionics through its in-house MRO facilities in Kinston, North Carolina. Learn more at www.flyexclusive.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: demand for fractional ownership shares; the pace of additional aircraft acquisitions; the Company's ability to attract and retain fractional customers; potential volatility of the Company's stock price; the ability of the Company to maintain compliance with NYSE American continued listing standards and maintain the listing of the Company's securities on a national securities exchange; the ability of the Company to timely file its required annual and quarterly reports with the SEC; the ability of the Company to comply with covenants under and repay its debt; the potential dilution of stock ownership by our capital raising efforts; the outcome of any legal proceedings; changes in the competitive and highly regulated industries in which flyExclusive operates; and the risk of downturns due to general economic or political uncertainties in the highly competitive aviation industry.
The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of flyExclusive's Annual Report on Form 10-K for the year ended December 31, 2025 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.
Q4 beat driven by MRO and cost discipline, with record 2025 revenues and continued progress on ex-fuel cost control and restructuring. MRO momentum and strong FCF (+41%) support deleveraging and highlight embedded value not yet reflected in the current valuation. Despite geopolitical and fuel price volatility, Lufthansa benefits from a high fuel hedge (~77%), supporting near-term margins.
ORLANDO, FL / ACCESS Newswire / May 7, 2026 / Laser Photonics Corporation (NASDAQ:LASE) ("Laser Photonics" or the "Company"), a global leader in laser systems for industrial and defense applications, together with Fonon Technologies, an affiliated company within the LASE Group of Companies, today announced the successful pilot deployment of its DefenseTech laser cleaning within a U.S. Army depot to streamline surface preparation workflows for missile systems.
The DefenseTech Missile Laser Rust Inhibitor (MLRI) line features mobile laser-powered units specifically designed for manual surface preparation across all military branches. These systems eliminate the need for hazardous chemicals and abrasive blasting, offering streamlined maintenance processes while extending equipment lifespans. The technology is engineered to strip corrosion, anodization, and organic contaminants, returning surfaces to their pristine condition.
During operational testing at Anniston Army Depot, the DefenseTech MLRI systems demonstrated a transformative impact on maintenance workflows. The technology significantly reduced operator fatigue, noise levels, and airborne dust while drastically lowering the ecological footprint of the facility. Most notably, these improvements contributed to a measurable reduction in maintenance cycle times, accelerating asset readiness.
Matt Kime, VP of Government Sales at Fonon Technologies, commented, "By modernizing military asset maintenance with our application-specific MLRI systems, we not only advocate for sustainability but also solidify our position as the sole provider of this cutting-edge technology within the industry. Our technology's dual-axis precision supports military readiness and embodies the future of optimized maintenance processes that we believe paves the way with unrivaled solutions that competitors cannot match."
"We believe that the successful validation of our DefenseTech MLRI systems at a U.S. Army depot is a significant milestone that underscores the real-world impact of our laser technology in defense maintenance environments," said Wayne Tupuola, Chief Executive Officer of Laser Photonics. "This achievement demonstrates our ability to deliver solutions that not only meet the rigorous demands of military operations but also align with the Department of Defense's sustainability objectives. As we continue to expand our defense portfolio through the LASE Group of Companies, we remain focused on driving innovation that enhances readiness and reduces the total cost of ownership for our military customers."
DefenseTech MLRI Key Features
Field-ready portability - designed for on-site maintenance
Dual axis precision - from detail work to rapid decontamination
Sustainable operations - no chemical waste or consumables
Substrate integrity intact - removes contaminants without surface wear
Multi-contaminant removal - effectively strips rust and oxidized coatings
About Fonon Technologies
Fonon Technologies is a diversified industrial laser equipment provider serving government organizations, all branches of the U.S. military, and defense contractors. Led by a team with deep expertise in military and naval operations, the company tackles the challenges of defense maintenance, repair, overhaul and protection with advanced laser solutions. For more information, visit www.fonon.us.
About Laser Photonics Corporation
Laser Photonics Corporation (NASDAQ:LASE) is a global leader in laser systems for industrial and defense applications. The Company develops and manufactures advanced laser technologies used in cleaning, surface preparation, and precision material processing across demanding operating environments. Laser Photonics serves a broad range of end markets, including defense and government, aerospace, energy, maritime, automotive, and advanced manufacturing. Through a combination of internal development, strategic acquisitions, and partnerships, the Company continues to expand its product portfolio and address new applications where performance, efficiency, and environmental considerations are critical. For more information, please visit laserphotonics.com.
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations as of the date of this press release and involve risks and uncertainties that may cause results to differ materially from those indicated by these forward-looking statements. These forward-looking statements include, among other things, statements regarding our preliminary internal financial information, which is unaudited, subject to completion of our financial closing and audit procedures and may differ materially from our actual results. These risks and uncertainties include, but are not limited to, the impacts of federal government funding disruptions and shutdowns on our contracts, operations, capital-raising activities, and strategic initiatives. We encourage readers to review the "Risk Factors" in our Registration Statement and other filings with the Securities and Exchange Commission for a comprehensive understanding. Laser Photonics Corp. undertakes no obligation to revise or update any forward-looking statements, except as required by applicable laws or regulations, to reflect events or circumstances after the date of this press release.
Investor Relations Contact
Lucas A. Zimmerman & Ian Scargill
MZ Group - MZ North America
(262) 357-2918 [email protected]
www.mzgroup.us
VSE Corporation (NASDAQ: VSEC, VSECU, “VSE”, or the “Company”) a leading provider of aviation aftermarket distribution and repair services, announced today that VSE Corporation’s senior management will participate in the following upcoming conferences.
William Blair's Growth Stock Conference will be held in Chicago, Illinois, on Tuesday, June 2, 2026. John Cuomo, President and CEO and Michael Perlman, VP of Investor Relations & Treasury will participate in one-on-one investor meetings throughout the event. John Cuomo will present at 3:20 PM Central Time.
Stifel Cross Sector Insight Conference will be held in Boston, Massachusetts, on Wednesday, June 3, 2026. John Cuomo and Michael Perlman will participate in one-on-one investor meetings throughout the event.
Wells Fargo Industrials Conference will be held in Chicago, Illinois, on Tuesday, June 9, 2026. John Cuomo will participate in a fireside chat at 10:15 AM Central Time. Management will also participate in one-on-one investor meetings throughout the event.
Truist Securities Industrials & Services Conference will be held in New York City, New York, on Tuesday, June 16, 2026. John Cuomo and Michael Perlman will participate in one-on-one investor meetings throughout the event.
For more information about this event or to schedule a meeting with VSE’s senior management, please contact VSE’s Investor Relations at [email protected].
ABOUT VSE CORPORATION
VSE is a leading provider of aviation distribution and repair services for the commercial and business and general aviation (B&GA) aftermarkets. Headquartered in Miramar, Florida, VSE is focused on significantly enhancing the productivity and longevity of its customers' high-value, business-critical assets. VSE’s aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services support engine component and engine and airframe accessory part distribution and repair services for commercial and B&GA operators. For more detailed information, please visit VSE's website at www.vsecorp.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results to vary materially from those indicated or anticipated by such statements. Many factors could cause actual results and performance to be materially different from any future results or performance, including, among others, the risk factors described in our reports filed or expected to be filed with the SEC. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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