FGI
FGI Industries Ltd.6.12
+0.74+13.8%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Diversification progress in Q&A
Q&A surfaced concrete progress on China Plus One diversification, including secured partnerships in Thailand and other regions to migrate production and blunt tariff risks—details skipped in prepared remarks. Management highlighted India dealer growth into Delhi, a successful eight-to-10-month wholesale bath initiative in Germany with a new distribution center, and U.S. wholesale representation plus logistics tweaks. Early Q1 demand aligns with guidance amid ongoing tariff uncertainty, with no refund expectations. Analysts pressed on end markets and order patterns; responses stayed optimistic yet qualitative. Diversification delivers. Investors will track geographic execution amid trade volatility.
Key Stats
Market Cap
11.75MP/E (TTM)
-Basic EPS (TTM)
-2.06Dividend Yield
0%Recent Filings
8-K
FGI Q3 revenue dips, margins rise
FGI Industries posted Q3 revenue of $35.8 million, down 0.7% y/y amid tariff pressures, yet gross profit climbed 2.0% to $9.5 million with margins up 70 bps to 26.5%. Operating income hit $0.4 million, swinging from last year's loss; adjusted net income was $0.2 million. Tariffs cloud the outlook. Liquidity stands at $14.2 million. FY25 guidance holds: $135-145 million revenue.
10-Q
Q3 FY2025 results
FGI Industries swung to Q3 operating income of $0.4M from a $0.1M loss y/y, while revenue dipped 0.7% to $35.8M; YTD revenue climbed 4.0% to $100.1M yet operating loss widened to $1.7M from $0.8M as expenses rose. Gross margins held steady near 27%, with sanitaryware up 7.0% y/y offsetting shower system declines; Canada revenue fell 8.0% y/y. Cash fell to $1.9M amid $1.7M operating outflow, short-term debt at $14.1M with covenant breach on East West facility (waiver pending). Lease terminated to cut costs. Tariffs pressure margins.
10-Q
Q2 FY2025 results
FGI Industries posted Q2 revenue of $31.0M, up 5.5% y/y yet flat q/q, with sanitaryware and others (kitchen cabinetry) driving gains while showers dipped; gross margin slipped to 28.1% from 30.5% on tariff pressures. Operating loss widened to $(0.8)M from $(0.5)M as G&A rose, yielding $(0.64) diluted EPS versus $0.08—anti-dilution excluded options. Cash fell to $2.5M with $0.2M operating cash flow less $0.6M capex (FCF not disclosed in the 10-Q); short-term debt of $12.6M breached East West covenants, waiver pending. Leased out idle warehouse. Tariffs threaten margins further.
8-K
Q2 revenue up 5.5%, margins slip
FGI Industries posted Q2 revenue of $31.0 million, up 5.5% year-over-year, fueled by 67.7% growth in Covered Bridge cabinets yet dragged by an 11.2% drop in Shower Systems. Gross margin slipped to 28.1%, down 240 bps from tariffs and freight costs, yielding an operating loss of $0.8 million. Tariffs cloud the outlook. Liquidity stands at $16.4 million. Reiterates FY25 revenue guidance of $135-145 million.
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