10-Q · June 15, 2026
RF Industries reported Q2 FY2026 revenue of $20 million, up 5.3% from $19 million in Q1 FY2026, with a diluted EPS of $0.04, above the consensus estimate of $0.09. The company demonstrated a positive trend in gross…
Earnings analysis · 10-Q
RFIL earnings analysis
Filed September 14, 2026 · Our reading of the company's report
The latest report
RF Industries delivered a strong third quarter, with record revenue of $23.96 million, gross margin of 35.6%, operating income of $1.8 million, and diluted EPS of $0.12. Revenue, margins, operating income, and EPS all…
Read full summary
RF Industries delivered a strong third quarter, with record revenue of $23.96 million, gross margin of 35.6%, operating income of $1.8 million, and diluted EPS of $0.12. Revenue, margins, operating income, and EPS all improved versus both the prior quarter and the prior-year period, although EPS missed the $0.20 consensus estimate. The filing provides no quantitative forward guidance, and the principal disclosed legal issue is an $855,000 employee class-action settlement awaiting final court approval.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.12
What stood out
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Record revenue exceeded consensus
Third-quarter revenue reached a record $23.96 million, up approximately 14% from $21 million in Q2 2026 and 20% from $20 million in Q3 2025. Revenue exceeded the $23.28 million consensus estimate.
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Gross margin expanded
Gross margin increased to 35.6%, up 50 basis points from 35.1% in Q2 2026 and 160 basis points from 34.0% in Q3 2025.
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Operating profitability improved
Operating income increased to $1.8 million, implying an operating margin of approximately 7.5%, versus 5.3% in Q2 2026 and 3.6% in Q3 2025.
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EPS improved year over year
Diluted EPS was $0.12, improving from $0.08 in Q2 2026 and $0.04 in Q3 2025, although it was below the $0.20 consensus estimate.
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Disclosure controls remained effective
The company concluded that its disclosure controls and procedures were effective at a reasonable assurance level as of July 31, 2026.
What to watch
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Employment litigation settlement pending
The company agreed to an all-in, non-reversionary settlement of $855,000 in the employee class action. Final approval is scheduled for January 22, 2027, leaving the matter subject to court approval.
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Wage-and-hour exposure
The employee class action alleges 8 categories of California wage-and-hour violations, including overtime, meal periods, rest periods, and wage statements, creating potential for additional legal and compliance costs if the settlement is not approved or other claims arise.
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No new risk-factor updates
The company states that historical performance should not be considered a reliable indicator of future performance, and the filing reports no material changes from the risk factors in the fiscal 2025 Annual Report filed January 14, 2026.
Management's outlook
The filing does not provide quantitative revenue or EPS guidance; no forward financial guidance was disclosed.
Earlier filings 4
10-Q · March 16, 2026
RF Industries reported Q1 FY2026 revenue of $18,969,000 and GAAP diluted EPS of $0.06, both modestly ahead of consensus. Gross margin was 32.3% and operating margin 0.9%; free cash flow was positive $649,000. Results…
10-K · January 21, 2025
RF Industries reported fiscal 2024 net sales of $64.857 million (down 10.1% vs. FY2023) with gross margin improving to 29.1% and an operating loss narrowing to $2.823 million (-4.4% of sales). Liquidity tightened…
10-Q · September 16, 2024
RF Industries reported quarter revenue of $16,836,000 and GAAP diluted EPS of -$0.01, missing consensus revenue and EPS. Revenue increased modestly versus the prior quarter, but gross margin compressed slightly and the…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.