FPS Q4 Earnings Beat Estimates on Powertrain Solutions Growth

FPS reported Q4 fiscal 2026 revenue of $462 million, up 94% year-over-year, beating estimates on strength in custom products and Powertrain Solutions for data center customers. The company posted record bookings of $1.50 billion and backlog of $3.02 billion, with a book-to-bill ratio of 3.3x signaling robust demand visibility.

Management guided fiscal 2027 revenue between $2.4 billion and $2.6 billion, representing 76% growth at the midpoint. FPS is committing $35 million to expand Powertrain Solutions manufacturing capacity to support the data center buildout cycle.

The outsized book-to-bill ratio indicates FPS is capturing orders faster than it can fulfill them, a dynamic that typically supports pricing power and margin expansion. The new facility investment suggests management expects sustained demand beyond the current backlog horizon.