MRCY

Mercury Systems' stock has been impacted by its financial performance and outlook. The company reported third-quarter fiscal 2026 results that exceeded expectations, driven by backlog conversion, record bookings, and margin expansion. Record quarterly bookings of $348.3 million resulted in a 1.48 book-to-bill ratio and pushed the backlog to a record approaching $1.6 billion. Revenue for the quarter was $235.8 million, up 11.5% organically year-over-year, and adjusted EPS was $0.27. Following these results, Mercury Systems raised its expectations for fiscal year 2026, anticipating revenue growth approaching mid-single digits and a full-year adjusted EBITDA margin in the mid-teens. Analysts have responded by raising price targets.