Frequency Electronics, Inc. (NASDAQ:FEIM) shares soared 29.55% to $80.40 after the bell on Thursday following the announcement of first-quarter fiscal 2027 results, where earnings per share of $0.41 topped analyst estimates of $0.15 by 173.3%.

The New York-based defense and space technology firm reported results for the three months ended Jul. 31.

Revenue Also Beat Forecasts

For the quarter, Frequency Electronics’ revenue was $23.45 million, beating estimates of $17.85 million by 31.4%.

Operating income climbed to $5.2 million from $0.4 million a year earlier.

CEO Tom McClelland said, “I am very pleased to report first quarter revenue of $23.5 million, an all-time record for FEI, up 70% year-over-year and up 52% sequentially.”

He also added, “This performance gives us increasing confidence in our ability to meet or exceed the $150 million or more in annual revenue that we previously guided to by Fiscal 2029.”

Funded backlog reached a record $129 million compared to $111 million at the previous quarter. According to McClelland, Frequency added approximately $73 million in cash during the quarter.

Trading Metrics, Technical Analysis

Frequency Electronics has a market capitalization of $693.68 million, a 52-week high of $80.60 and a 52-week low of $26.05.

The Relative Strength Index (RSI) of FEIM stands at 45.91.

The stock has gained 80.67% over the past 12 months.

FEIM is currently trading at about 66% of its 52-week range.

Price Action: The stock closed the regular session on Thursday at $62.06, down 2.48%, according to Benzinga Pro data.

With a strong Momentum in the 90th percentile, Benzinga’s Edge Stock Rankings indicate that Frequency Electronics stock is experiencing long-term upward movement along with medium and short-term consolidation.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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