TechPrecision Corporation (TPCS) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings, and welcome to the Tech Precision Corporation Fiscal 2026 Third Quarter Financial Results. At this time, all participants are placed on a listen-only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Brett Maas, Managing Director of Hayden IR. Thank you, sir. You may begin. Thank you. On the call today is Alex Shen, Chief Executive Officer, and Philip Podgorski, Chief Financial Officer. Before we begin, I'd like to remind our listeners that management's remarks may contain forward-looking statements which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements as contained in the Private Securities Delegation Reform Act of 1995. Actual results may differ from those discussed today, and therefore, we refer you to a more detailed discussion of risks and uncertainties in the company's financial filings with the SEC. In addition, projections as to the company's future performance represents management's estimates as of today, February 17th, 2026. Tech Precision assumes no obligation to revise or update these forward-looking statements. With that out of the way, I'd like to turn the call over to Alex Shen, Chief Executive Officer, to provide opening remarks. Alex? Thank you, Brett. Good afternoon to everyone, and thank you for joining us. For the third quarter, STATCO revenue decreased and operating losses increased. This was due to four factors. One, delay in receiving customer furnished materials, which delays revenue and dropped revenue. Two, unfavorable project mix. Three, higher provisions for projected contract losses. And four, so...