6-K 1 zk2635382.htm 6-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
          


F O R M 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

TAT TECHNOLOGIES LTD.
(Name of Registrant)

9335 Harris Corners Pkwy, Charlotte, NC 28269
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒          Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐           No ☒

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____________


SIGNATURE

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.

  TAT TECHNOLOGIES LTD.  
   
(Registrant)

 

By:
/s/ Ehud Ben-Yair  
    Ehud Ben-Yair  
    Chief Financial Officer  
 


Date: May 20, 2026

2

Press Release

TAT Technologies Reports First Quarter 2026 Results

Backlog and Long-Term Agreements Increase to ~$580 Million on Strong Demand
 
Charlotte, N.C, May 20, 2026 - TAT Technologies Ltd. (NASDAQ and TASE: “TATT”) (“TAT” or the “Company”) a leading provider of products and services to the commercial and military aerospace and ground defense industries, today reported its unaudited results for the three-month period ended March 31, 2026.
 
Financial highlights for the first quarter of 2026:
 
Revenues were $41.1 million; a slight decrease of 2.4% compared to $42.1 million in the first quarter of 2025, driven primarily by component part shortages and delayed deliveries from certain OEM suppliers.
 
Gross profit remained stable at $10.0 million. Gross margin improved by 80 basis points to 24.4% of revenues, compared to 23.6% of revenues in the first quarter of 2025.
 
Operating income was $3.0 million, a decrease from $4.2 million in the first quarter of 2025,  reflecting a margin of 7.3% versus 9.9% in the first quarter of 2025.
 
Net income totaled $3.4 million, a slight decrease compared to $3.8 million in the first quarter of 2025.
 
Adjusted EBITDA was $4.9 million, representing 11.8% of revenues, a decrease from $5.7 million representing 13.6% of revenues in the first quarter of 2025.
 
Operating cash flow for the quarter was positive $1.9 million compared to negative $(5.0) million used in operating activities in the first quarter of 2025, reflecting a significant improvement in cash generation.

Mr. Igal Zamir, TAT's CEO and President, commented: "TAT Technologies entered 2026 with a robust operational foundation, and the record customer demand in the first quarter reinforced our confidence in the trajectory we are on. Demand for our services has never been stronger, and the value of our long-term agreements and backlog reached an all-time high, growing to approximately $580 million at the end of Q1, reflecting new contract wins and exceptionally strong customer intake across all four of our service lines."

As opposed to this  strong momentum entering the year, and as previously communicated, we experienced some supply chain disruptions that affected the results of the first quarter. These distruptions were triggered by certain OEM suppliers, leading to delays in finish goods and deliveries. Primarily as a result of these delays, our revenue slightly declined YoY, not fully utilizing our growing backlog. We expect this obstacle to be resolved in the next few months, allowing TAT the continued growth trajectory we started last year. 

"As we look ahead through the rest of 2026, we are confident in the fundamentals of the business. Demand is at an all-time high and our record backlog provides strong revenue expectations. Subject to the anticipated resolution of our recent supply chain disruptions, we expect our growth trajectory will resume in the second quarter and the second half of the year, driven primarily by stronger demand and record backlog. We remain well-positioned to deliver growth and long-term value for our shareholders," concluded Mr. Zamir.

3

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA.  The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors with a more complete understanding of the Company’s underlying operational results, trends and performance. Adjusted EBITDA is calculated as net income excluding the impact of: the Company's share in results of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization. Adjusted EBITDA, however, should not be considered as an alternative to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA below.

Investor Call Information
 
TAT Technologies will host an earnings webcast and conference call today, May 20, 2026, at 8:00 a.m. Eastern Time to discuss first quarter results. Investors may register using the link below or by visiting the Company's website.
 
Webcast Registration: Here
Investor Relations Website: https://tat-technologies.com/investors/
 
Contact:
Mr. Eran Yunger
Director of IR
erany@tat-technologies.com

4

About TAT Technologies Ltd

We are a leading provider of solutions and services to the aerospace and defense industries. We operate four operational units: (i) original equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through our Kiryat Gat facility (TAT Israel); (ii) maintenance repair and overhaul (“MRO”) services for heat transfer components and OEM of heat transfer solutions through our subsidiary Limco Airepair Inc. (“Limco”); (iii) MRO services for aviation components through our subsidiary, Piedmont Aviation Component Services LLC (“Piedmont”) (mainly Auxiliary Power Units (“APUs”) and landing gear); and (iv) overhaul and coating of jet engine components through our subsidiary, Turbochrome Ltd. (“Turbochrome”).

TAT’s activities in the area of OEM of heat transfer solutions and aviation accessories through TAT Israel primarily include the design, development and manufacture of (i) a broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft and ground applications; and (iii) a variety of mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.

TAT’s activities in the area of MRO and OEM of heat transfer solutions include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT’s Limco subsidiary operates a Federal Aviation Administration (“FAA”)-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of MRO services for aviation components include the MRO of APUs and landing gear. TAT’s Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of jet engine overhaul through its Turbochrome facility includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.

Safe Harbor for Forward-Looking Statements

This press release and/or this report 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 operation results. 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 are 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 (including the risk that recent delivery delays and part shortages are not resolved in a timely manner), our ability to successfully identify, execute, and integrate potential merger and acquisition transactions and other risks detailed from time to time in the Company's filings with the Securities 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. We undertake no obligation to update publicly or revise any forward-looking statement.
5


TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

U.S dollars in thousands


 
March 31,
   
December 31,
 
   
2026
   
2025
 
             
ASSETS
           
CURRENT ASSETS:
           
Cash and cash equivalents
 
$
51,235
   
$
51,259
 
Accounts receivable, net of allowance for credit losses of $241
   and $172 as of March 31, 2026, and December 31, 2025, respectively
   
30,456
     
33,420
 
Inventory
   
81,736
     
75,549
 
Prepaid expenses and other current assets
   
8,423
     
6,071
 
                 
Total current assets
   
171,850
     
166,299
 
                 
NON-CURRENT ASSETS:
               
Property, plant and equipment, net
   
47,162
     
46,922
 
Operating lease right of use assets
   
5,484
     
5,807
 
Intangible assets, net
   
1,375
     
1,452
 
Investment in affiliates
   
5,520
     
4,905
 
Funds in respect of employee rights upon retirement
   
400
     
398
 
Deferred tax assets
   
706
     
639
 
Restricted deposit
   
310
     
307
 
                 
Total non-current assets
   
60,957
     
60,430
 
                 
Total assets
 
$
232,807
   
$
226,729
 

The accompanying notes are an integral part of these unaudited condensed consolidated financial Statements.

6

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

U.S dollars in thousands

   
March 31,
   
December 31,
 
   
2026
   
2025
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
           
             
CURRENT LIABILITIES:
           
Current maturities of long-term loans
 
$
2,272
   
$
2,227
 
Accounts payable
   
15,529
     
12,986
 
Accrued expenses and other
   
17,396
     
17,296
 
Current maturities of operating lease liabilities
   
1,448
     
1,474
 
                 
Total current liabilities
   
36,645
     
33,983
 
                 
NON-CURRENT LIABILITIES:
               
Long-term loans
   
8,937
     
9,485
 
Operating lease liabilities
   
4,174
     
4,448
 
Liability in respect of employee rights upon retirement
   
772
     
770
 
Deferred tax liabilities
   
1,804
     
1,652
 
                 
Total non-current liabilities
   
15,687
     
16,355
 
                 
COMMITMENTS AND CONTINGENCIES (NOTE 4)
   
-
     
-
 
                 
Total liabilities
   
52,332
     
50,338
 

SHAREHOLDERS’ EQUITY:
           
Ordinary shares of NIS 0 par value
Authorized: 15,000,000 shares at March 31, 2026 and at December 31, 2025
Issued:13,257,610 shares at March 31, 2026 and at December 31, 2025
Outstanding: 12,983,137 shares at March 31, 2026 and at December 31, 2025
   
-
     
-
 
Additional paid-in capital
   
137,071
     
136,578
 
Treasury stock at cost
   
(2,088
)
   
(2,088
)
Accumulated other comprehensive income
   
834
     
643
 
Retained earnings
   
44,658
     
41,258
 
Total shareholders' equity
   
180,475
     
176,391
 
                 
Total liabilities and shareholders' equity
 
$
232,807
   
$
226,729
 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

7

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

U.S dollars in thousands

   
Three Months Ended
March 31,
 
   
2026
   
2025
 
             
Revenues:
           
Products
 
$
13,906
   
$
12,724
 
Services
   
27,241
     
29,418
 
     
41,147
     
42,142
 
                 
Costs:
               
Products
   
10,099
     
8,331
 
Services
   
21,017
     
23,857
 
     
31,116
     
32,188
 
Gross profit
   
10,031
     
9,954
 
                 
Operating expenses:
               
Research and development, net
   
571
     
324
 
Selling and marketing
   
2,182
     
1,928
 
General and administrative
   
4,293
     
3,532
 
     
7,046
     
5,784
 
Operating income
   
2,985
     
4,170
 
                 
Interest expenses
   
(148
)
   
(335
)
Other financial income, net
   
187
     
277
 
Income before taxes on income
   
3,024
     
4,112
 
                 
Provision for income taxes
   
145
     
592
 
Income before share of equity investment
   
2,879
     
3,520
 
                 
Share in profits of equity investment of affiliated companies
   
521
     
293
 
Net income
 
$
3,400
   
$
3,813
 

8

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

U.S dollars in thousands, except share and per share data

   
Three Months Ended
March 31,
 
   
2026
   
2025
 
             
Earnings per share
           
Basic
 
$
0.26
   
$
0.35
 
Diluted
 
$
0.26
   
$
0.34
 
                 
Weighted average number of shares outstanding
               
Basic
   
12,983,137
     
10,940,358
 
Diluted
   
13,204,290
     
11,211,271
 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

9

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
U.S dollars in thousands

   
Three Months Ended
March 31,
 
   
2026
   
2025
 
             
Net income
 
$
3,400
   
$
3,813
 
Other comprehensive income, net:
               
Change in foreign currency translation adjustments
   
191
     
528
 
Total comprehensive income
 
$
3,591
   
$
4,341
 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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 DECEMBER 31, 2024
   
11,214,831
   
$
-
   
$
89,697
   
$
(76
)
 
$
(2,088
)
 
$
24,436
   
$
111,969
 
CHANGES DURING THE THREE MONTHS ENDED MARCH 31, 2025:
                                                       
Comprehensive income
   
-
     
-
     
-
     
528
     
-
     
3,813
     
4,341
 
Share based compensation
                   
222
                             
222
 
BALANCE AT MARCH 31, 2025
   
11,214,831
   
$
-
   
$
89,919
   
$
452
   
$
(2,088
)
 
$
28,249
   
$
116,532
 
                                                         
BALANCE AT DECEMBER 31, 2025
   
13,257,610
   
$
-
   
$
136,578
   
$
643
   
$
(2,088
)
 
$
41,258
   
$
176,391
 
CHANGES DURING THE THREE MONTHS ENDED MARCH 31, 2026:
                                                       
Comprehensive income
   
-
     
-
     
-
     
191
     
-
     
3,400
     
3,591
 
Share based compensation
   
-
     
-
     
493
     
-
     
-
     
-
     
493
 
BALANCE AT MARCH 31, 2026
   
13,257,610
   
$
-
   
$
137,071
   
$
834
   
$
(2,088
)
 
$
44,658
   
$
180,475
 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

11

TAT TECHNOLOGIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

   
Three Months Ended March 31,
 
   
2026
   
2025
 
             
CASH FLOWS FROM OPERATING ACTIVITIES:
           
Net income
 
$
3,400
   
$
3,813
 
Adjustments to reconcile net income to net cash used in operating activities:
               
Depreciation and amortization
   
1,313
     
1,305
 
Non-cash financial (income) expenses
   
331
     
(99
)
Change in allowance for (recovery of) credit losses
   
69
     
(50
)
Share in profits of equity investment of affiliated companies
   
(521
)
   
(293
)
Share based compensation
   
493
     
222
 
Deferred income taxes, net
   
85
     
519
 
Changes in operating assets and liabilities:
               
Decrease (increase) in trade accounts receivable
   
2,894
     
(3,476
)
Increase in prepaid expenses and other current assets
   
(2,257
)
   
(527
)
Increase in inventory
   
(6,430
)
   
(3,861
)
Increase in trade accounts payable
   
2,471
     
434
 
Increase (decrease) in accrued expenses and other
   
102
     
(3,022
)
Net cash provided by (used in) operating activities
   
1,950
     
(5,035
)
                 
CASH FLOWS FROM INVESTING ACTIVITIES:
               
Purchase of property and equipment
   
(1,420
)
   
(2,862
)
Net cash used in investing activities
   
(1,420
)
   
(2,862
)
                 
CASH FLOWS FROM FINANCING ACTIVITIES:
               
Repayments of long-term loans
   
(551
)
   
(571
)
Net change in short term loans from banks
   
-
     
6,369
 
Net cash (used in) provided by financing activities
   
(551
)
   
5,798
 
                 
Net decrease in cash and cash equivalents and restricted cash
   
(21
)
   
(2,099
)
Cash and cash equivalents and restricted cash at beginning of period
   
51,566
     
7,434
 
Cash and cash equivalents and restricted cash at the end of period
 
$
51,545
   
$
5,335
 
                 
Supplementary information on investing and financing activities not involving cash flows:
               
   Additions of operating lease right-of-use assets and operating lease liabilities
   
82
     
147
 
   Reclassification between inventory and property, plant and equipment
   
-
     
579
 
Supplemental disclosure of cash flow information:
               
   Interest paid
   
154
     
267
 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

12


TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
(U.S dollars in thousands)

   
Three months ended
 
   
March 31,
 
   
2026
   
2025
 
             
Net income
 
$
3,400
   
$
3,813
 
Adjustments:
               
Share in results and sale of equity investment of affiliated companies
   
(521
)
   
(293
)
Provision for income taxes
   
145
     
592
 
Financial expenses, net
   
(39
)
   
58
 
Depreciation, amortization and other
   
1,375
     
1,353
 
Share based compensation
   
493
     
222
 
Adjusted EBITDA
 
$
4,853
   
$
5,745
 

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