FGI Industries Q1 revenue falls on weaker sanitaryware sales but adj. loss narrows on lower costs

FGI Industries

14/05/2026 21:32

Overview

US kitchen and bath supplier's Q1 revenue fell 8.2% yr/yr on weaker sanitaryware sales

Adjusted net loss narrowed from prior year as operating expenses fell 13.1%

Gross margin steady at 26.8%; company reaffirms full-year guidance amid tariff uncertainty

Outlook

FGI reaffirms 2026 revenue guidance of $134-141 mln

Company expects 2026 adjusted operating income of $0.7-2.5 mln

FGI sees 2026 adjusted net income between $(0.3)-1.1 mln

Result Drivers

SANITARYWARE DECLINE - Co said sanitaryware revenue fell 20% yr/yr due to softer US homebuilder demand, uneven ordering patterns, and lower retail sales in Canada

OPERATING EXPENSE REDUCTION - Co said operating expenses fell 13.1% yr/yr, mainly from lower selling, distribution, tradeshow and warehouse costs

PRODUCT MIX SHIFT - Co said bath furniture and shower systems revenue rose 10.9% and 14% yr/yr, respectively, reflecting positive momentum and new business wins

Company press release: ID:nPn7XmJ37a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$30.50 mln
$33.42 mln (1 Analyst)
Q1 Adjusted EPS
Beat
-$0.39
-$0.60 (1 Analyst)
Q1 Adjusted Net Income
Beat
-$0.7 mln
-$1.15 mln (1 Analyst)
Q1 Gross Margin
26.80%
Q1 Adjusted Operating Income
Beat
-$0.7 mln
-$965,000 (1 Analyst)
Q1 Gross Profit
$8.20 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the home furnishings peer group is "buy"

Wall Street's median 12-month price target for FGI Industries Ltd is $7.50, about 25.2% above its May 13 closing price of $5.99

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)