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TAT Technologies Ltd. — Investor Presentation 2026
May 20, 2026
7072_rns_2026-05-20_c1664d40-80dd-431e-a296-80e6a0946c36.pdf
Investor Presentation
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2026
TAT TECHNOLOGIES LTD.
(Name of Registrant)
9335 Harris Corners Pkwy, Charlotte, NC 28269
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☑
Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐
No ☑
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____
TAT Technologies Ltd.
TAT Technologies Ltd. (the "Company") hereby furnishes the following documents:
| Item/Exhibit No. | Description |
|---|---|
| 99.1 | Company presentation dated May 20, 2026, re: TAT Technologies Ltd. First quarter of 2026 results. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TAT TECHNOLOGIES LTD.
(Registrant)
By: /s/ Ehud Ben-Yair
Ehud Ben-Yair
Chief Financial Officer
Date: May 20, 2026
Exhibit 99.1
TAI
Technologies
INVESTOR PRESENTATION
May
2026
DISCLAIMER
Forward-Looking Statements
This presentation may contain certain forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, and expected market growth (both generally and with respect to our company), are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Generally, the words "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words and similar expressions identify forward-looking statements. These forward-looking statements involve certain risks and uncertainties, including those described in the section titled "Risk Factors" and elsewhere in our Annual Report on Form 20-F for the year ended December 31, 2025 and future quarterly reports.
Any forward-looking statements in this presentation are not guarantees of future results, levels of activity, performance or events and circumstances, and actual results, developments and business decisions may differ materially from those contemplated by those forward-looking statements. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as required by law.
INVESTOR PRESENTATION - May 2026
TAT
Technologies
DISCLAIMER (cont.)
Non-U.S.-GAAP Financial Measures
This presentation includes certain financial information that is not presented in accordance with The U.S. GAAP, including Adjusted EBITDA and Adjusted EBITDA Margin. We refer to these measures as "non-U.S. GAAP" financial measures. We present these non-U.S. GAAP measures as we believe that their presentation of these enhances an investor's understanding of our financial performance. Although these non-U.S. GAAP measures are frequently used by investors and securities analysts in their evaluations of companies in industries similar to ours, these non-U.S. GAAP measures have limitations as analytical tools, are not measurements of our performance under U.S. GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with U.S. GAAP and should not be used by investors or other users of our financial statements in isolation for formulating decisions, as such non-U.S. GAAP measures exclude a number of important cash and non-cash charges.
You should be aware that our presentation of these and other non-U.S. GAAP financial measures in this presentation may not be comparable to similarly titled measures used by other companies. A reconciliation of each of these non-U.S. GAAP measures to its most directly comparable financial measure calculated in accordance with U.S. GAAP is provided in the Appendix to this presentation.
Industry and Market Data
Within this presentation, we reference information and statistics regarding the market for our products and services. We have obtained some of this statistical data, market data and other industry data from public filings, industry publications and studies conducted by third-party sources. Some data and other information contained in this presentation are also based on management's estimates and calculations, which are derived from our review and interpretation of internal surveys and independent sources. Data regarding the industries in which we compete and our market position and market share within these industries are inherently imprecise and are subject to significant business, economic and competitive uncertainties beyond our control, but we believe they generally indicate size, position and market share within this industry. In addition, assumptions and estimates of our and our industries' future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause our future performance to differ materially from our assumptions and estimates.
Trademarks, Trade Names, Service Marks and Copyrights
We own or have rights to use various trademarks, tradenames, service marks and copyrights, which are protected under applicable intellectual property laws. This presentation also contains trademarks, tradenames, service marks and copyrights of other companies, which are, to our knowledge, the property of their respective owners. Solely for convenience, certain trademarks, tradenames, service marks and copyrights referred to in this presentation may appear without the ©, *, and symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, tradenames, service marks and copyrights. We do not intend our use or display of other parties' trademarks, tradenames, service marks or copyrights to imply, and such use or display should not be construed to imply a relationship with, or endorsement or sponsorship of us by, these other parties.
ACRONYM GUIDE
OEM: Original Equipment Manufacturer
MRO: Maintenance, Repair & Overhaul
APU: Auxiliary Power Unit
LTA: Long-Term Agreement
LG: Landing Gear
HX: Heat Exchanger
INVESTOR PRESENTATION - May 2026
TAT
Technologies
KEY STRATEGIC PRODUCT & SERVICE OFFERINGS

Thermal Solutions
45%

Thermal Solutions
Market Leader
MRO & OEM
60+ years of experience

APU
MRO
• Honeywell

Landing Gear
Authorized MRO
• Gulfstream
• Embraer
• ATR




Leasing & Trading Strong presence in APU leasing and parts trading
4
INVESTOR PRESENTATION - May 2026
Note: Charts based on % contribution for Q1-2026 revenue
Other non-strategic product lines represent 15% of the total revenue

EXPERIENCED AND PROVEN LEADERSHIP
Experienced senior management team with significant depth, longevity and industry experience.
AMOS MALKA
CHAIRMAN OF THE BOARD
Since 2016
IGAL ZAMIR
PRESIDENT & CHIEF EXECUTIVE OFFICER
Since 2016
EHUD BEN YAIR
CHIEF FINANCIAL OFFICER
Since 2018
JASON LEWANDOWSKI
CHIEF OPERATING OFFICER
Since 2022

Major General (ret.) Former Head of the Israeli Defense Intelligence and Commander of the IDF Ground Forces Command.
Retired 2002.
Previous Positions:
Chairman of the Board,
Logic Industries, Ltd.
Chairman of the Boards, Plasan Sasa, Ltd.
CEO, Elul Technologies, Ltd.

Previous Positions:
President, Mapco Express
(subsidiary of Delek US Holdings, Inc)
CEO, Metrolight, Ltd.
CEO, Rostam, Ltd.

Previous Positions:
CFO, SHL Telemedicine (SHLTN)
CFO & Vice CEO, Opgal Optronics
(Subsidiary of Elbit Systems and Rafael)
CFO, Orad Hi Tech Systems (OHT)

Previous Positions:
GM, VP Manufacturing, Proterra
Sr. Director Operations,
Honeywell Aerospace
Surface Warfare Officer, US NAVY
TAT Technologies is dually listed on NASDAQ and on the Tel Aviv Stock Exchange
INVESTOR PRESENTATION - May 2026
TAT Technologies
TAT SUBSTANTIAL OFFERINGS

THERMAL SOLUTIONS
Thermal components for
Environmental Control Systems
THERMAL SOLUTIONS
Thermal components for
gallay
THERMAL SOLUTIONS
Thermal components
for fuel inerting system
THERMAL SOLUTIONS
Thermal components for
hydraulic systems
LANDING GEAR
MRO

TAT
7
VALUE PROPOSITION
- High Growth Rates
- Strategic Capabilities Supporting Future Growth
- Strong Demand for Products & Services
- Proven Leadership Team
ON AN UPWARD TREND
($M)


- Trusted Partner with 300+ Customers
Including Tier 1 aircraft manufacturers, system integrators and airlines - $580M Backlog (Q1-26)
& Long-term Agreements
Honeywell ← EMBRAER AIRBUS FedEx LOCKHEED MARTIN → RTX
Gulfstream TEXTRON BDEING LIEBHERR SAFRAN
Lufthansa American Airlines DELTA UNITED
(1) Adjusted EBITDA is a non-U.S. GAAP measure. Please see the appendix for a reconciliation of Adjusted EBITDA to the most comparable U.S. GAAP measures. Quarterly figures may not sum to annual totals due to rounding.
AEROSPACE MARKET OUTLOOK

High Global Demand for Component MRO ($B)

New Aircraft Production on an Upward Trend
INVESTOR PRESENTATION - May 2026
Sources: Oliver Wyman. Note: New aircraft production includes B737, B787, B777, B767, A320, A220, A330 and A350 models
TAT
Technologies
KEY GROWTH ENGINES DRIVE NEAR-TERM AND FUTURE GROWTH
SEVERAL PILLARS WILL SUPPORT THE COMPANY'S CONTINUED STRONG GROWTH
- M&A – Well-positioned with the infrastructure ready to execute our M&A strategy—driving market share, expanded capabilities, and value for customers and shareholders.
- APU – Entered a +$2B market through new OEM certifications. The Company is well-positioned against competition.
- Thermal Solutions – MRO leadership with certified OEM capabilities, benefiting from strong global demand for MRO and growth in new aircraft production, fleet conversions, and emerging eVTOL aviation.
- Landing Gear MRO Cycle – Entered a major MRO cycle with two key strategic agreements in place.
- Trading & Leasing – Enable clients to overcome supply chain challenges and benefit from TAT’s in-house MRO capabilities across all products.
INVESTOR PRESENTATION - May 2026
TAT
BACKLOG
Value of Long-Term Agreements (LTAs) and Backlog

LTAs and Backlog ($M)(1)

Q1-2026 LTAs & BACKLOG
INVESTOR PRESENTATION - May 2026
(1) Value of LTAs calculated by taking the average annual order quantity for OEM components and MRO services for each customer and multiplying by prior year average revenue per order and remaining years in the agreement, adjusting for any forward guidance from customers
TAT
Technologies
Q1 2026
Key Indicators
| TAT ($M) | Q1-26 | Q1-25 | Δ | Q1-26 YOY |
|---|---|---|---|---|
| Revenue | 41.1 | 42.1 | ↓ | -2.4% |
| Gross Profit | 10.0 | 10.0 | ↑ | 0.8% |
| Gross Margin | 24.4% | 23.6% | ↑ | 80bp |
| Operating Income | 3.0 | 4.2 | ↓ | -28.4% |
| Operating Margin | 7.3% | 9.9% | ↓ | (260)bp |
| Net Income | 3.4 | 3.8 | ↓ | -10.8% |
| Net Margin | 8.3% | 9.0% | ↓ | (70)bp |
| EPS (diluted, $) (1) | 0.26 | 0.34 | ↓ | -24.3% |
| (1) | ||||
| Adjusted EBITDA | 4.9 | 5.7 | ↓ | -15.5% |
| Adjusted EBITDA Margin | 11.8% | 13.6% | ↓ | (180)bp |
INVESTOR PRESENTATION - May 2026
(1) Adjusted EBITDA and Adjusted EBITDA Margin are non-U.S. GAAP measures. Please see the appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to the most comparable U.S. GAAP measures
TAT
Technologies
APPENDIX

PRODUCT AND SERVICE OFFERINGS

THERMAL SOLUTIONS OVERVIEW
OEM Solutions & MRO Services

KEY CUSTOMERS
TEXTRON

TEKTRON


INVESTOR PRESENTATION - May 2026
TAT
Technologies
THERMAL SOLUTIONS
Addressable Market
Short Term:
- The "After COVID" effect increased demand for flights, and a constrained supply of new aircraft is creating strong demand for Aviation MRO services
- Close and long-lasting relationships with clients and our multi-product offering as an OEM and MRO service provider enable us to gain market share by increasing our value proposition to customers
- R&D capabilities as an OEM enable us to participate in bids for new types of engines, aircraft platforms and technologies
Long Term:
- Intellectual capital from decades of experience in providing thermal components and solutions for integrators enables us to offer a holistic solution as a Thermal System OEM and MRO service provider
- Market-leading R&D capabilities in thermal solutions put us on the front line for future aviation designs, such as electrification of aircraft and eVTOL

INVESTOR PRESENTATION - March 2026
TAT Technologies
APU SERVICES OVERVIEW
Maintenance, Repair & Overhaul (MRO)

OEM and licensed MRO service provider for multiple APU platforms representing over 25,000 aircrafts still in production
As a Honeywell authorized service partner, the Company is one of a few licensed providers, creating a significant commercial advantage and competitive position in the market

KEY CUSTOMERS

REVENUE ($M)


Quarterly figures may not sum to annual totals due to rounding
INVESTOR PRESENTATION - May 2026
APU SERVICES
Addressable Market
STRATEGIC AGREEMENTS
| MRO FOR B757/767, C17 APU | 1,500 AIRCRAFT
10 year agreement | Estimated annual market size
$85M(1) | SIGNED
09/2020 |
| --- | --- | --- | --- |
| MRO FOR B777 APU | CURRENTLY 1,600 AIRCRAFT
PRODUCTION ONGOING
10 year agreement | Estimated market size
$290M annually(1) | SIGNED
12/2020 |
| MRO FOR B737 & A 320 SERIES APU | CURRENTLY 22,000 AIRCRAFT
PRODUCTION ONGOING
10 year agreement | Estimated market size
$2,200M annually(1)
Production readiness
First customer launched Q1-24 | SIGNED
06/2021 |
Total Annual Addressable Market Size (1) > $2.5B
| Engine | Platform | Current Annual Market Size | Current Annual Market Share |
|---|---|---|---|
| 331-20X | B767, B757, C17 | $85M | ~45% |
| 331-500 | B777 | $290M | ~2% |
| 131 | B737, A319-20-21 | $2,200M | <1% |

331-500

131

INVESTOR PRESENTATION - May 2026
(1) From publicly available data provided by Boeing and Airbus, accessed as of April 2025, and Company management estimates
TAT Technologies
LANDING GEAR OVERVIEW
MRO Services
Provider of landing gear MRO services for systems across multiple platforms utilized in commercial airline, business jet and military markets
Maintain strategic agreements with and certifications from OEMs that ensure access to the landing gear market and ongoing opportunities within the following fleets of aircraft:

AUTHORIZED
Embraer – E170/175 aircraft
- OEM authorized U.S. provider
Gulfstream – G400 and G500
- Exclusive provider to Gulfstream
ATR – 42/72 aircraft
10
INVESTOR PRESENTATION - May 2026

REVENUE ($M)

TAT
Technologies
Quarterly figures may not sum to annual totals due to rounding
LANDING GEAR
Addressable Market
Growing demand for MRO services in landing gear
- Full in-house capabilities in MRO
- Machining services
- Plating services
- Resulting in lower cost

INVESTOR PRESENTATION - May 2026
TAT
Technologies
TRADING & LEASING
Leasing:
Lease inventory of 29 APU engines, including 331-500 utilized on the Boeing 777 aircraft
This service enables the Company to meet growing demand of our customers by helping them overcome the market shortage for APUs and related parts
Trading:
Trade APU parts, heat exchangers, landing gear and other parts across all TAT product lines and service offerings
Allows the Company to manage inventory efficiently as well as maintain an ongoing supply of the most in-demand parts


REVENUE ($M)

Quarterly figures may not sum to annual totals due to rounding
INVESTOR PRESENTATION - May 2026
TRADING & LEASING
- Leasing – With a large and diversified pool of 29 APUs, we provide leasing solutions to our customers while leveraging our in-house MRO capabilities to support their ongoing operational needs and ensure high fleet availability
- Trading – As the industry suffers from supply chain challenges, our variety of solutions and in-house engineering capabilities, from small components such as valves and pumps through heat exchangers (OEM/MRO) to APU and landing gear MRO services, gives us a wide market reach to meet industry needs

INVESTOR PRESENTATION - May 2026
TAT Technologies
OTHER CAPABILITIES
- Nearly 50 years of experience developing fluid controls and accessories for defense and commercial platforms
- Provides highly qualified, durable and affordable Environmental Control Systems (ECS) for defense applications
- Utilizes advanced technologies to repair and recondition turbine components for both commercial and military applications as well as ground turbines
- One-stop-shop offering a multitude of specialized services for repair, refurbishment or remanufacturing of components


INVESTOR PRESENTATION - May 2026
Quarterly figures may not sum to annual totals due to rounding
NEW TECHNOLOGIES
Future Growth Drivers

THERMAL SYSTEMS FOR ELECTRIC AIRCRAFT & AUTONOMOUS AIRCRAFT

ADDITIVE MANUFACTURING & 3D PRINTING

FULL THERMAL SOLUTIONS TO ENGINE HEADS
INVESTOR PRESENTATION - May 2026
TAT Technologies
Financial

Q1 2026 RESULTS
Key Indicators
| TAT ($M) | Q1-26 | Q4-25 | Q3-25 | Q2-25 | Q1-25 | Δ | Q1-26 YOY |
|---|---|---|---|---|---|---|---|
| Revenue | 41.1 | 46.5 | 46.2 | 43.1 | 42.1 | ↓ | -2.4% |
| Gross Profit | 10.0 | 11.7 | 11.6 | 10.8 | 10.0 | ↑ | 0.8% |
| Gross Margin | 24.4% | 25.2% | 25.1% | 25.1% | 23.6% | ↑ | 80bp |
| Operating Income | 3.0 | 4.9 | 5.3 | 4.4 | 4.2 | ↓ | -28.4% |
| Operating Margin | 7.3% | 10.6% | 11.4% | 10.3% | 9.9% | ↓ | (260)bp |
| Net Income | 3.4 | 4.7 | 4.8 | 3.4 | 3.8 | ↓ | -10.8% |
| Net Margin | 8.3% | 10.2% | 10.5% | 8.0% | 9.0% | ↓ | (70)bp |
| EPS (diluted, $) | 0.26 | 0.36 | 0.37 | 0.30 | 0.34 | ↓ | -24.3% |
| Adjusted EBITDA | 4.9 | 6.9 | 6.8 | 6.1 | 5.7 | ↓ | -15.5% |
| Adjusted EBITDA Margin | 11.8% | 14.8% | 14.6% | 14.0% | 13.6% | ↓ | (180)bp |
INVESTOR PRESENTATION - May 2026
(1) Adjusted EBITDA and Adjusted EBITDA Margin are non-U.S. GAAP measures. Please see the appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to the most comparable U.S. GAAP measures
TAT
REVENUE BY PRODUCT
| Revenue By Product ($M) | Q1-26 | Q4-25 | Q3-25 | Q2-25 | Q1-25 | Q1-26 YOY % |
|---|---|---|---|---|---|---|
| Heat Exchange | 18.5 | 16.6 | 17.5 | 17.7 | 18.4 | 1% |
| APU | 11.6 | 13.9 | 14.6 | 11.5 | 12.3 | -6% |
| Trading & Leasing | 2.7 | 6.1 | 4.3 | 5.9 | 2.1 | 29% |
| Landing Gears | 2.0 | 3.3 | 3.8 | 2.0 | 3.3 | -39% |
| Others | 6.2 | 6.6 | 6.0 | 6.1 | 6.0 | 4% |
| Total Revenue | 41.1 | 46.5 | 46.2 | 43.1 | 42.1 | -2% |
INVESTOR PRESENTATION - May 2026
TAT Technologies
Quarterly figures may not sum to annual totals due to rounding
UPWARD TRENDING REVENUE

*Annual CAGR 2023-2025
INVESTOR PRESENTATION - May 2026
TAT
Technologies
GROSS PROFIT AND GROSS PROFIT MARGIN

*Annual CAGR 2023-2025
INVESTOR PRESENTATION - May 2026
TAT
Technologies
OPERATING INCOME

*Annual CAGR 2023-2025
INVESTOR PRESENTATION - May 2026
TAT
NET INCOME

*Annual CAGR 2023-2025
INVESTOR PRESENTATION - May 2026
TAT
Technologies
CASH FLOW
Positive Cash Flow From Operations
| Cash Flow ($M) | Q1-26 | Q1-25 |
|---|---|---|
| Net cash provided by (used in) operating activities | 1.95 | (5.04) |
| Net cash used in investing activities | (1.42) | (2.86) |
| Net cash provided by financing activities | (0.55) | 5.80 |
| Net increase (decrease) in cash and cash equivalents | (0.02) | (2.10) |
| Cash and cash equivalents at the beginning of the year | 51.57 | 7.43 |
| Cash and cash equivalents at the end of the year | 51.55 | 5.34 |
INVESTOR PRESENTATION - May 2026
TAT
BALANCE SHEET HIGHLIGHTS
Strong Balance Allows Future Leverage
| Leverage Metrics (SM) | Q1-26 | FY 2025 | FY 2024 |
|---|---|---|---|
| Shareholder's Equity | 180.5 | 176.4 | 112.0 |
| Total Assets | 232.8 | 226.7 | 163.4 |
| Equity-to-Assets Ratio | 0.78 | 0.78 | 0.69 |
| Net (Debt) cash | 40.0 | 39.6 | (5.9) |
| Operating Working Capital | FY 2025 | FY 2024 | |
| Current Assets | |||
| Accounts Receivable | 30.5 | 33.4 | 29.7 |
| Inventory | 81.7 | 75.5 | 68.5 |
| Current Liabilities | |||
| Accounts Payable | 15.5 | 13.0 | 12.2 |
| Operating Working Capital | 96.7 | 96.0 | 86.1 |
INVESTOR PRESENTATION - May 2026
TAT
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
| $M | Q1-26 | Q4-25 | Q3-25 | Q2-25 | Q1-25 |
|---|---|---|---|---|---|
| Net Income | 3.40 | 4.73 | 4.84 | 3.44 | 3.81 |
| Adjustments: | |||||
| Affiliated Companies | (0.52) | (0.51) | (0.37) | (0.32) | (0.29) |
| Taxes on Income | 0.15 | 0.52 | 0.82 | 0.21 | 0.59 |
| Financial Expense net | (0.04) | 0.21 | (0.03) | 1.10 | 0.06 |
| D&A | 1.37 | 1.39 | 1.33 | 1.33 | 1.35 |
| Share base compensation | 0.49 | 0.55 | 0.17 | 0.29 | 0.22 |
| Adjusted EBITDA | 4.85 | 6.88 | 6.76 | 6.05 | 5.75 |
| Adjusted EBITDA Margin | 11.8% | 14.8% | 14.6% | 14.0% | 13.6% |
INVESTOR PRESENTATION - May 2026
TAT