Frequency Electronics, Inc. (FEIM) shares rocketed higher Friday after the company beat revenue expectations for its second quarter, which wrapped up with some promising signals about what's coming next.

The Numbers

Frequency Electronics reported earnings per share of 18 cents, missing the consensus estimate of 27 cents. But here's the thing: revenue came in at $17.12 million, topping the $16.87 million analysts expected. That quarterly revenue represents an increase from $15.8 million in the same period last year, marking the third-highest quarterly revenue the company has posted in the past decade.

What's More Interesting

The backlog story is where things get compelling. Frequency Electronics ended the quarter with approximately $82 million in backlog, up from $70 million at April 30, 2025. That's a meaningful jump in just three months.

CEO Tom McClelland noted that customer-induced delays from the prior quarter had largely been resolved. He expects delays tied to the recent government shutdown to reverse in coming quarters and said the company anticipates multiple contract awards in the months ahead, including some among the largest in the company's history.

FEIM Price Action: At the time of writing, Frequency Electronics shares are trading 29.92% higher at $46.85.