Classroom furniture maker Virco's Q2 revenue falls, cites cautious school spending

Virco Mfg

04/09/2026 13:41

Overview
US school furniture maker's Q2 revenue fell yr/yr to $87.5 mln
Q2 net income declined yr/yr to $8.6 mln
Company cites cautious school spending amid budget uncertainties as reason for declines

Outlook
Company expects typical lower second-half volume to limit impact of recent demand improvement
Virco anticipates capital expenditures will remain within typical $4 mln to $6 mln annual budget

Result Drivers
CAUTIOUS SCHOOL SPENDING - Co said school administrators were cautious with spending due to budget uncertainties
RECENT DEMAND IMPROVEMENT - Co said demand improved slightly after approval of new school budgets, but impact expected to be limited
US MANUFACTURING ADVANTAGE - Co said its US-based manufacturing model provides cost control, delivery, and customer service benefits

Company press release: ID:nGNXz3q7w

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$87.47 mln
$72.10 mln (1 Analyst)
Q2 Net Income
 
$8.61 mln
 
Q2 Operating Income
 
$10.55 mln
 

Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the business support supplies peer group is "buy."
Wall Street's median 12-month price target for Virco Mfg Corp is $6.50, about 7.4% above its September 3 closing price of $6.05
The stock recently traded at 39 times the next 12-month earnings vs. a P/E of 31 three months ago

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Sept 3 - Genesco Q2 revenue falls slightly less than expected

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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.)