Richardson Electronics Q1 net sales rise as PMT, GES demand grows

Richardson Electronics

07/10/2026 21:25

Overview
US engineered solutions maker's fiscal Q1 net sales rose 18.9% yr/yr with growth in all units
Fiscal Q1 net income more than doubled, with EPS rising to $0.27
Company backlog rose 36.9% yr/yr to highest level in over three years

Outlook
Company expects profitable growth in fiscal 2027, citing strong backlog and customer demand
Company says it is focused on efficiency and strategic growth amid uncertain economic conditions

Result Drivers
PMT DEMAND - Co said strong demand for engineered solutions in semiconductor wafer fabrication and RF/microwave products drove PMT sales growth
GES AND CANVYS SALES - Co said higher sales of wind products and new Battery Energy Storage Systems (BESS) supported GES growth, while Canvys saw increased sales in North America
GROSS MARGIN IMPROVEMENT - Co said gross margin rose due to product mix and a one-time IEEPA Tariff Refund

Company press release: ID:nGNXbTZdMv

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$64.92 mln
$58.99 mln (2 Analysts)
Q1 EPS
 
$0.27
 
Q1 Net Income
 
$4.06 mln
 
Q1 Gross Margin
 
34.60%
 
Q1 Operating Income
 
$5.12 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Richardson Electronics Ltd is $20.50, about 7.6% above its October 6 closing price of $19.05
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 40 three months ago

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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.)