ACCESS Newswire·Nov 12, 2026, 4:15 PM ET

FGI Industries Announces Third Quarter 2026 Results

FGI

FGI Industries Ltd. reported third quarter 2026 total revenue of $31.7 million, an 11.6% year-over-year decline.
Gross profit was $8.7 million, down 8.0% year-over-year, while gross margin expanded 110 basis points to 27.6%.
The company reported an operating loss of $0.5 million and a net loss attributable to shareholders of $0.9 million for the quarter.
Adjusted operating loss was $0.5 million, and adjusted net loss was $0.7 million.
Revenue decreased 11.9% in the U.S., 9.0% in Canada, and 21.8% in Europe due to soft housing activity.
Sanitaryware revenue fell 16.6% to $19.1 million, and shower systems revenue dropped 22.9% to $4.5 million.
Other revenue, primarily from Covered Bridge custom kitchen cabinetry, grew 32.8% to $4.4 million.
FGI secured new toilet and vanity program awards to drive future sales growth despite current market headwinds.
Total liquidity stood at $6.3 million as of September 30, 2026, comprising $2.0 million in cash and $4.3 million in credit facility availability.
Fiscal 2026 total net revenue guidance was revised down to $120-127 million from a previous range of $134-141 million.
Fiscal 2026 adjusted operating income guidance was revised to a loss of $(1.8)-0.2 million from a previous profit range of $0.7-2.5 million.
Fiscal 2026 adjusted net income guidance was revised to a loss of $(2.6)-(1.0) million from a previous range of $(0.3)-1.1 million.
Management emphasized cost discipline, inventory management, and operational efficiency while converting new program awards into shipments.

Company: FGI Industries Ltd
Keywords: Consumer & Retail Products, Earnings