Graham Corporation reported quarterly net sales of $66.0 million, an increase of 23% or $12.5 million compared to the previous period. Growth was driven primarily by the Defense market, contributing $9.9 million due to project milestones and new and existing programs, and by the Energy & Process market, which increased by $2.0 million or 11%, mainly from sales in China and larger capital projects. Aftermarket sales in the Energy & Process and Defense markets totaled $9.8 million, slightly higher than the prior year. Gross profit rose by $1.5 million, or 12%, to $14.3 million. Adjusted net income per diluted share was $0.31. Adjusted EBITDA reached $6.3 million, with an adjusted EBITDA margin of 9.5%. Cash provided by operating activities was $13.6 million for the quarter ending September 30, 2025. The company had $20.6 million in cash and cash equivalents and no debt outstanding at quarter-end, with $44.7 million available on its revolving credit facility. Capital expenditures for the quarter were $4.1 million, focused on capacity expansion and productivity improvements. The company reaffirmed its full-year guidance and narrowed its estimated tariff impact range to $2.0 million to $4.0 million.