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Sunday, November 1, 2026

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@calvinblissett 1 click

Calvin Blissett on X

Other than the backlog growing linearly every year and taking that at face value here are some secular trends I found that support growth pertinent to $BUKS: Management repeatedly points to several things in earnings calls: developing additional FAA-approved STCs; getting repeat installations from STCs it has already developed; bringing fabrication in-house rather than outsourcing it; increasing production capacity; selling more kits that customers install themselves; doing larger and more complicated special-mission aircraft; expanding systems-integration work; and growing internationally. During FY2026, BUKS invested approximately $2.7M in developing/producing new products BUKS’s Aerospace segment isn’t primarily an OEM. Its core exposure is modifying King Air, Cessna turboprop, Learjet and increasingly Challenger aircraft for ISR, aerial surveillance, sensors, search-and-rescue and other special missions; installing avionics/electronics; and selling modification kits under FAA STCs. 1. The turbine aircraft fleet BUKS targets is projected to grow ~2% annually for 20 years The FAA’s Aerospace Forecast FY2025–2045 projects the turbine general-aviation fleet to grow 2.1% annually through 2045. In contrast, the piston fleet is expected to shrink slightly. The FAA expects essentially all net growth in the traditional GA fleet to come from turbine aircraft. That’s highly relevant because BUKS specifically says its businesses concentrate on King Air and Cessna turboprops, Learjets and other turbine aircraft. 2. Business-jet deliveries are projected to grow ~3% annually for the next decade Honeywell’s 2025 Global Business Aviation Outlook forecasts: 8,500 new business jets worth $283 billion over the next 10 years, the highest value in the forecast’s 34-year history. It projects deliveries to grow at approximately 3% annually, with 2026 deliveries expected to increase another 5% YoY. 3. Honeywell found that 91% of business-aircraft operators expect to fly the same amount or more, with 28% expecting increased flying. The FAA separately forecasts total general-aviation flight hours to increase 19% from 2023 through 2045, with turbine, rotorcraft and experimental aircraft driving the increase. Higher utilization generally supports demand for upgrades and keeping existing aircraft economically useful. That’s relevant to BUKS because many of its products effectively extend or expand the capabilities of existing airframes rather than requiring operators to buy a new aircraft.

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TSOH Weekly Roundup (10/30/2026)

Markel spent $315 million repurchasing shares in Q3 as Thrive agreed to buy ADT for $7.6 billion and Hasbro cited rising adult toy demand.

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TSOH Investment Research 1 click

OSS Q3 FY12/26 Earnings Analysis

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Cestrian Capital Research 1 click
VITL · long

Vital Farms INC

Vital Farms is a long idea after bird flu-driven egg supply losses coincided with a structural shift.

VITL $399M
Value Investors Club

Unicycive (UNCY):

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UNCY $104M
Triple S Special Situations Investing 4 clicks
BMBL 2026-10-21

Bumble is being taken private

Bumble agreed to a $6.05-per-share cash sale to Ithaca Holdings, 136% above its October 2 share price.

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Modern Value Investing 8 clicks

GLOO, part two

Gloo faces related-party deals, insider-heavy IPO ownership, acquisition losses and $84.5 million of CEO-backed puts as it burns cash and…

GLOO $274M
Guardian Research 4 clicks

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