Why Is KARMAN HLDGS INC (KRMN) Stock Up Today?

Karman Holdings (KRMN) shares rose 17.84% to $37.82, driven by strong third-quarter results and a record backlog. The company reported non-GAAP earnings per share of $0.19, beating consensus estimates by $0.04, while revenue of $202 million exceeded expectations by $7.26 million.

What Happened

Karman Holdings filed a Form 8-K on November 5, 2026, disclosing its third-quarter financial results. The company reported a record backlog of $1.7 billion and raised its 2026 revenue outlook to between $755 million and $760 million. Management highlighted new wins in the THAAD program and continued expansion in Europe as key drivers of this growth. Following the release, Piper Sandler raised its price target to $60 from $59 and reiterated an Overweight rating. Needham maintained a Buy rating but lowered its price target to $50.

What The Data Shows

The stock opened at $35.01, representing a 9.1% gap up from the prior close of $32.09. The session high reached $37.99 at 9:45 AM ET, while the session low was $34.18 at 9:35 AM ET. Volume stood at 0.6 million shares, which is 0.2 times the three-month daily average. The company has a market capitalization of $4.5 billion and a P/E ratio of 118.8. Trailing twelve-month revenue grew 50.2%, with a net margin of 6.3%. The 52-week range is $29.34 to $118.38. Over the last eight sessions, the stock had declined 14.9% before this move. Recent insider activity includes three buys totaling $1.0 million by directors Mary D. Petryszyn, Stephen Twitty, and David Stinnett, with the most recent filing on September 18, 2026.

What To Watch

Investors will monitor the company’s execution on its raised 2026 revenue guidance and the integration of its new THAAD contracts. The stock’s position within its 52-week range and the reaction of analysts to the debt increase noted in the earnings call will also be key factors.