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PR Newswire·

FGI INDUSTRIES ANNOUNCES SECOND QUARTER 2026 RESULTS

FGI
  • FGI Industries reported second quarter 2026 total revenue of $31.9 million, a 2.9% increase year-over-year.
  • Gross profit reached $10.7 million, representing a 22.5% year-over-year increase, with gross margin expanding to 33.4% from 28.1% in the prior year period.
  • Operating income turned positive at $1.4 million compared to a loss of $0.8 million in the second quarter of 2025, while adjusted operating income also stood at $1.4 million.
  • Net income attributable to shareholders was $1.3 million ($0.65 per diluted share), reversing a net loss of $1.2 million ($0.64 per diluted share) from the prior year.
  • Revenue growth was driven by a 20.3% increase in the U.S. market, offset by declines of 24.5% in Canada and 21.0% in Europe due to softer demand.
  • Sanitaryware revenue rose 5.9% to $19.1 million, while Shower Systems revenue increased 15.2% to $6.0 million.
  • Bath Furniture and Other segments saw revenue decreases of 15.5% and 9.2% respectively, attributed to tariff-related uncertainty affecting customer purchasing.
  • Total operating expenses decreased 2.9% year-over-year to $9.3 million, driven by lower selling and distribution costs and warehouse optimization.
  • The company received IEEPA recoveries included in cost of goods sold that partially offset costs not passed through to customers.
  • FGI maintains total liquidity of $7.9 million as of June 30, 2026, consisting of $4.4 million in cash and $3.4 million in availability under credit facilities.
  • Fiscal 2026 guidance was reaffirmed with projected total net revenue between $134 million and $141 million.
  • Adjusted operating income guidance for 2026 remains between $0.7 million and $2.5 million, with adjusted net income guidance between a loss of $0.3 million and a profit of $1.1 million.
  • Section 301 tariffs were permanently implemented in July, replacing the temporary Section 122 tariffs.
  • The company held a conference call on August 13, 2026, to discuss these results, with a webcast available via its Investor Relations website.