Earnings release
Page 1
Exhibit 99.1 Press Release TAT Technologies Reports Record Third Quarter 2026 Results Record Quarterly and Nine-Month Revenue, Gross Profit Margin and Adjusted EBITDA Revenue Increases 20.2%, Adjusted EBITDA Increases 60.9% and Diluted EPS Increases 57.8% CHARLOTTE, N.C., November 2, 2026 – TAT Technologies Ltd. (NASDAQ: TATT, TASE: TAT Tech), a leading supplier of products and services for the commercial and military aerospace and ground defense industries, today reported financial results for the third quarter ended September 30, 2026. Igal Zamir, TAT’s president and CEO, said: “TAT delivered an outstanding third quarter, with record quarterly revenue of $55.6 million and record quarterly adjusted EBITDA of $10.9 million, reflecting a record adjusted EBITDA margin of 19.6%. These results are driven by strong customer demand, an improved product mix and greater operational efficiency. Demand for our products remains strong across our core product lines, while our extended relationship with Honeywell is creating additional opportunities going forward.” “Looking forward, we enter the final quarter of 2026 with strong momentum, supported by our long-standing customer relationships, strong backlog and long-term agreements. We believe TAT is well positioned to build on its strong performance to seize future opportunities and achieve sustainable, profitable growth in the years to come,” concluded Mr. Zamir. Financial highlights: Record quarterly and nine-month revenue, gross profit and Adjusted EBITDA. • Revenues were $55.6 million, a 20.2% increase compared to $46.2 million in the third quarter of 2025. For the first nine months of 2026, revenues increased by 13.8% to $149.6 million compared to $131.5 million in the first nine months of 2025. • Gross profit increased by 48.2% to $17.2 million, representing 30.9% of revenues, compared to $11.6 million (25.1% of revenues) in the third quarter of 2025. For the first nine months of 2026, gross profit increased by 25.2% to $40.5 million compared to $32.4 million in the first nine months of 2025 (27.1% of revenues in the first nine months of 2026 compared to 24.6% of revenues in the first nine months of 2025). • Operating Income increased by 71.8% to $9.0 million (16.3% of revenues) compared to $5.3 million (11.4% of revenues) for the third quarter of 2025. For the first nine months of 2026, operating income was $17.6 million (11.8% of revenues) compared to $13.9 million (10.5% of revenues) in the first nine months of 2025. • Net Income of $7.7 million (Diluted EPS of $0.58) compared to $4.8 million for the third quarter of 2025 (Diluted EPS of $0.37). For the first nine months of 2026, net income was $19.1 million (Diluted EPS of $1.46), compared to $12.1 million (Diluted EPS of $1.02) in the first nine months of 2025. Net income for the first nine months of 2026 includes a one-time gain of $3.4 million, net of tax, on the sale of the Company's equity method investment in First Aviation Services Inc. (FAV). 1
Page 2
• Adjusted EBITDA was $10.9 million (19.6% of revenues), a 60.9% increase from $6.8 million (14.6% of revenues) for the third quarter of 2025. Adjusted EBITDA for the first nine months of 2026 increased by 47% to $27.4 million (18.31% of revenues) compared to $18.6 million (14.1% of revenues) in the first nine months of 2025. Excluding the one-time pre-tax gain of $4.3 million from the sale of the Company's equity investment in FAV, Adjusted EBITDA for the first nine months of 2026 was $23.0 million. • Cash flow provided by operations for the third quarter was $3.8 million compared to $7.5 million provided by operations in the third quarter of 2025. Cash flow from operations was $5.2 million in the first nine months of 2026 compared to $9.4 million in the first nine months of 2025. The decrease was primarily attributable to an increase in inventory of $10.6 million in the third quarter and $20.5 million in the first nine months of 2026, reflecting the Company's investment in inventory to support the ramp- up of its long-term agreements, including its expanded agreement with Honeywell. • Backlog and Long-Term Agreements: approximately $577 million as of September 30, 2026. Investor Call Information TAT Technologies will host an earnings webcast and conference call today, November 2, 2026, at 8:00 a.m. Eastern Time to discuss third quarter results. Investors may register using the link below or by visiting the Company's website. Webcast Registration: Link to registration Investor Relations Website: https://tat-technologies.com/investors/ Non-GAAP Financial Measures To supplement its GAAP results, the Company presents adjusted EBITDA, adjusted net income and adjusted earnings per share, which are non-GAAP financial measures, to provide investors with additional insight into underlying operating performance. Management uses these measures to evaluate period-to-period operating performance and believes they are useful to investors because they exclude items that are non-recurring or non-cash in nature or that do not reflect the Company's core operations. Adjusted EBITDA excludes the Company's share in results of affiliated companies, share-based compensation, income taxes, financial (expenses) income, net, gain on sale of equity investment and depreciation and amortization. Adjusted net income and adjusted earnings per share exclude the gain on sale of equity investment and the related income tax impact . These non-GAAP measures should not be considered as alternatives to net income, operating income or earnings per share for the period and may not be indicative of the historic operating results of the Company; nor are they meant to be predictive of potential future results. These measures are not measures of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliations of these non- GAAP measures to the most directly comparable GAAP measures below. About TAT Technologies TAT Technologies Ltd. (NASDAQ: TATT) (TASE: TAT Tech) is a leading provider of services and products to the commercial and military aerospace and ground defense industries, providing OEM heat transfer solutions and aviation accessories, MRO services for aviation components, including heat transfer solutions, overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps and MRO services on APUs, landing gears and other aircraft components for airlines, air cargo carriers, maintenance service centers and the military. For more information, please visit www.tat-technologies.com. 2
Page 3
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the United States federal securities laws. These forward- looking statements include, without limitation, statements regarding possible or assumed future operating results, demand conditions, supply chain conditions, customer relationships, backlog conversion, market position, and growth prospects. These statements are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management's current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations, including, but not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, LTAs and backlog, the price and continuity of supply of component parts used in our operations, the war and hostilities between Israel and Hamas, Hezbollah and Iran, regional shipping disruptions and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F and its periodic reports on Form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Contact: Eran Yunger Director of IR Tel: +1-980-451-1115 erany@tat-technologies.com 3
Page 4
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 4
Page 5
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS U.S dollars in thousands September 30, December 31, 2026 2025 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 53,732 $ 51,259 Accounts receivable, net of allowance for credit losses of $266 and $172 as of September 30, 2026, and December 31, 2025, respectively 35,728 33,420 Inventory 95,328 75,549 Prepaid expenses and other current assets 5,913 6,071 Total current assets 190,701 166,299 NON-CURRENT ASSETS: Property, plant and equipment, net 50,207 46,922 Operating lease right of use assets 5,154 5,807 Intangible assets, net 2,038 1,452 Investment in affiliates 5,700 4,905 Funds in respect of employee rights upon retirement 434 398 Deferred tax assets 436 639 Restricted deposit - 307 Total non-current assets 63,969 60,430 Total assets $ 254,670 $ 226,729 5
Page 6
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS U.S dollars in thousands September 30, December 31, 2026 2025 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Current maturities of long-term debts $ 167 $ 2,227 Accounts payable 17,773 12,986 Accrued expenses and other current liabilities 18,987 17,296 Current maturities of operating lease liabilities 1,438 1,474 Total current liabilities 38,365 33,983 NON-CURRENT LIABILITIES: Long-term debts, net 10,963 9,485 Operating lease liabilities 3,859 4,448 Liability in respect of employee rights upon retirement 826 770 Deferred tax liabilities 3,839 1,652 Total non-current liabilities 19,487 16,355 COMMITMENTS AND CONTINGENCIES (NOTE 7) - - Total liabilities 57,852 50,338 SHAREHOLDERS’ EQUITY: Ordinary shares of NIS 0 par value Authorized: 23,000,000 shares at September 30, 2026, and 19,000,000 at December 31, 2025 Issued:13,272,610 shares at September 30, 2026, and 13,257,610 shares at December 31, 2025 Outstanding: 12,998,137 shares at September 30, 2026, and 12,983,137 shares at December 31, 2025 - - Additional paid-in capital 138,049 136,578 Treasury stock at cost (2,088) (2,088) Accumulated other comprehensive income 451 643 Retained earnings 60,406 41,258 Total shareholders' equity 196,818 176,391 Total liabilities and shareholders' equity $ 254,670 $ 226,729 6
Page 7
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME U.S dollars in thousands Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Revenues: Products $ 15,336 $ 12,617 $ 44,571 $ 37,804 Services 40,227 33,618 105,077 93,677 55,563 46,235 149,648 131,481 Costs: Products 10,338 9,170 31,207 26,613 Services 28,038 25,464 77,903 72,488 38,376 34,634 109,110 99,101 Gross profit 17,187 11,601 40,538 32,380 Operating expenses: Research and development, net 726 323 1,832 887 Selling and marketing 2,384 1,993 7,096 6,106 General and administrative 5,041 4,025 13,966 11,522 8,151 6,341 22,894 18,515 Operating income 9,036 5,260 17,644 13,865 Gain on sale of equity investment - - 4,324 - Interest expenses (216) (176) (546) (835) Other financial income (expenses), net 273 206 92 (293) Income before taxes on income 9,093 5,290 21,514 12,737 Provision for income taxes 1,759 821 3,815 1,624 Income before share of equity investment 7,334 4,469 17,699 11,113 Share in profits of equity investment of affiliated companies 343 372 1,449 983 Net income $ 7,677 $ 4,841 $ 19,148 $ 12,096 7
Page 8
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME U.S dollars in thousands, except share and per share data Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Earnings per share Basic $ 0.59 $ 0.37 $ 1.47 $ 1.03 Diluted $ 0.58 $ 0.37 $ 1.46 $ 1.02 Weighted average number of shares outstanding Basic 12,998,137 12,911,050 12,989,582 11,776,747 Diluted 13,144,592 13,078,467 13,158,304 11,904,044 8
Page 9
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME U.S dollars in thousands Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net income $ 7,677 $ 4,841 $ 19,148 $ 12,096 Other comprehensive income (loss), net: Change in foreign currency translation adjustments (261) (101) (170) 575 Net unrealized losses from derivatives (15) - (22) - Total comprehensive income $ 7,401 $ 4,740 $ 18,956 $ 12,671 9
Page 10
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY U.S dollars in thousands, except share data Share capital Accumulated Number of shares issued Amount Additional paid-in capital other comprehensive income (loss) Treasury shares Retained earnings Total equity BALANCE AT JUNE 30, 2025 13,161,762 $ - $ 135,578 $ 600 $ (2,088) $ 31,691 $ 165,781 CHANGES DURING THE THREE MONTHS ENDED SEPTEMBER 30, 2025: Comprehensive income (loss) - - - (101) - 4,841 4,740 Exercise of stock option 63,348 - - - - - - Share based compensation - - 167 - - - 167 BALANCE AT SEPTEMBER 30, 2025 13,225,110 $ - $ 135,745 $ 499 $ (2,088) $ 36,532 $ 170,688 BALANCE AT JUNE 30, 2026 13,272,610 $ - $ 137,567 $ 727 $ (2,088) $ 52,729 $ 188,935 CHANGES DURING THE THREE MONTHS ENDED SEPTEMBER 30, 2026: Comprehensive income (loss) - - - (276) - 7,677 7,401 Share based compensation - - 482 - - - 482 BALANCE AT SEPTEMBER 30, 2026 13,272,610 $ - $ 138,049 $ 451 $ (2,088) $ 60,406 $ 196,818 10
Page 11
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY U.S dollars in thousands, except share data Share capital Accumulated Number of shares issued Amount Additional paid-in capital other comprehensive income (loss) Treasury shares Retained earnings Total equity BALANCE AT DECEMBER 31, 2024 11,214,831 $ - $ 89,697 $ (76) $ (2,088) $ 24,436 $ 111,969 CHANGES DURING THE NINE MONTHS ENDED SEPTEMBER 30, 2025: Comprehensive income (loss) - - - 575 - 12,096 12,671 Exercise of option 142,981 - - - - - - Issuance of ordinary shares on public offering, net of issuance costs of $2,769 1,625,000 - 39,415 - - - 39,415 Exercise of the underwriters' option on public offering, net of issuance costs of $413 242,298 - 5,953 - - - 5,953 Share based compensation - - 680 - - - 680 BALANCE AT SEPTEMBER 30, 2025 13,225,110 $ - $ 135,745 $ 499 $ (2,088) $ 36,532 $ 170,688 BALANCE AT DECEMBER 31, 2025 13,257,610 $ - $ 136,578 $ 643 $ (2,088) $ 41,258 $ 176,391 CHANGES DURING THE NINE MONTHS ENDED SEPTEMBER 30, 2026: Comprehensive income (loss) - - (192) - 19,148 18,956 Exercise of option 15,000 - 136 - - - 136 Share based compensation - - 1,335 - - - 1,335 BALANCE AT SEPTEMBER 30, 2026 13,272,610 $ - $ 138,049 $ 451 $ (2,088) $ 60,406 $ 196,818 11
Page 12
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 7,677 $ 4,841 $ 19,148 $ 12,096 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 1,362 1,249 4,066 3,762 Non-cash financial expenses 462 126 814 634 Gain on sale of equity investment (Note 4) - - (4,324) - Change in allowance for credit losses 39 (104) 94 (79) Share in profits of equity investment of affiliated companies (343) (372) (1,449) (983) Share based compensation 482 167 1,335 680 Deferred income taxes, net 690 884 2,390 1,466 Changes in operating assets and liabilities: Decrease (increase) in trade accounts receivable 3,046 (960) (2,402) (3,554) Decrease (increase) in inventory (10,607) 281 (20,490) 1,464 Decrease (increase) in prepaid expenses and other current assets 1,120 (1,757) 309 (9,052) Increase (decrease) in trade accounts payable (929) 1,334 3,945 4,740 Increase (decrease) in accrued expenses and other current liabilities 774 1,806 1,725 (1,765) Net cash provided by operating activities 3,773 7,495 5,161 9,409 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from sale of equity investment - - 4,493 - Purchase of property and equipment (4,408) (2,743) (6,967) (8,910) Net cash used in investing activities (4,408) (2,743) (2,474) (8,910) CASH FLOWS FROM FINANCING ACTIVITIES: Repayments of short-term loans - - - (4,350) Repayments of long-term debts (96) (473) (11,368) (1,560) Proceeds from issuance of ordinary shares and exercise of the underwriters' option - - - 48,550 Issuance costs of ordinary shares and exercise of the underwriters' option - (362) - (3,182) Proceeds (issuance costs) from long term debt, net (166) - 10,711 - Proceeds from exercise of options - - 136 - Net cash provided by (used in) financing activities (262) (835) (521) 39,458 Net increase (decrease) in cash and cash equivalents and restricted cash (897) 3,917 2,166 39,957 Cash and cash equivalents and restricted cash at beginning of period 54,629 43,474 51,566 7,434 Cash and cash equivalents and restricted cash at the end of period $ 53,732 $ 47,391 $ 53,732 $ 47,391 Supplementary information on investing and financing activities not involving cash flows: Additions of operating lease right-of-use assets and operating lease liabilities $ 161 $ 1,948 $ 460 $ 3,783 Reclassification between inventory and property, plant and equipment - - - 579 Addition to property and equipment and intangible assets in accounts payable 1,430 195 1,430 195 Supplemental disclosure of cash flow information: Interest paid 135 430 438 946 Taxes paid 79 21 192 197 12
Page 13
TAT TECHNOLOGIES LTD. ADJUSTED NET INCOME ATTRIBUTABLE TO TAT TECHNOLOGIES LTD. (NON-GAAP) (UNAUDITED) U.S. dollars in thousands RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED) AND ADJUSTED NET INCOME ATTRIBUTABLE TO TAT TECHNOLOGIES LTD. (UNAUDITED) 13
Page 14
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands Three months ended Nine months ended September 30, September 30, 2026 2025 2026 2025 Net income $ 7,677 $ 4,841 $ 19,148 $ 12,096 Adjustments: Share in profits of equity investment of affiliated companies (343) (372) (1,449) (983) Provision for income taxes 1,759 821 3,815 1,624 Interest expenses 216 176 546 835 Other financial (income) expenses, net (273) (206) (92) 293 Depreciation, amortization and others 1,362 1,334 4,066 4,025 Share based compensation 482 167 1,335 680 Adjusted EBITDA $ 10,880 $ 6,761 $ 27,369* $ 18,570 * Adjusted EBITDA for the nine months ended September 30, 2026 includes the one-time pre-tax gain of $4,324 thousand from the sale of the Company's equity investment in First Aviation Services Inc. Without this one-time profit Adjusted EBITDA would be $23,045 thousand. 14
Page 15
TAT TECHNOLOGIES LTD. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands Three months ended Nine months ended September 30, September 30, 2026 2025 2026 2025 Net income $ 7,677 $ 4,841 $ 19,148 $ 12,096 Adjustments: Gain on sale of equity investment - - (4,324) - Income tax impact - - 908 - Adjusted net income $ 7,677 $ 4,841 $ 15,732 $ 12,096 Earnings per share Basic $ 0.59 $ 0.37 $ 1.47 $ 1.03 Diluted $ 0.58 $ 0.37 $ 1.46 $ 1.02 Adjusted earnings per share Basic $ 0.59 $ 0.37 $ 1.21 $ 1.03 Diluted $ 0.58 $ 0.37 $ 1.20 $ 1.02