10-Q · May 11, 2026
Tandy Leather Factory reported Q1 2026 revenue of $19.65 million, a 3.2% increase compared to $19.04 million in Q1 2025, driven by improved product mix and community engagements. Gross profit rose by 11.9% to $12…
Earnings analysis · 10-Q
TLF earnings analysis
Filed August 11, 2026 · Our reading of the company's report
The latest report
The provided 10-Q excerpt does not include the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so current-quarter revenue, margins, EPS, cash flow, and working-capital trends cannot be…
Read full summary
The provided 10-Q excerpt does not include the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so current-quarter revenue, margins, EPS, cash flow, and working-capital trends cannot be reliably quantified. The filing adds tariff exposure tied to sourcing from China and Brazil and highlights expected annual facility rent above $1.6 million. The company had $5.0 million available under its repurchase authorization but purchased zero shares during the quarter.
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.
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.
What stood out
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Repurchase Authorization Remains Available
The company retained $5.0 million of remaining authorization under its publicly announced share-repurchase plan as of June 30, 2026.
What to watch
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Fixed Facility Costs Exceed $1.6M Annually
The company expects combined annual rent for its new headquarters and flagship-store facilities to exceed $1.6 million, adjusted for inflation annually. Management warns that insufficient additional sales and profits to offset this expense could materially adversely affect operations.
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No Shares Repurchased in the Quarter
No shares were purchased during the quarter ended June 30, 2026, despite $5.0 million remaining under the repurchase authorization, so the filing provides no evidence of buyback support during the period.
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Tariff Exposure in China and Brazil
The company identifies China and Brazil as its most notable sourcing countries and warns that higher tariff rates could increase product costs and pressure sales. The filing also states that the company may face retaliatory tariff implications for intercompany sales to Canadian stores.
Management's outlook
The provided 10-Q excerpt contains no quantitative revenue or EPS outlook. No explicit guidance direction is disclosed.
Earlier filings 4
10-K · February 24, 2026
Tandy Leather (TLF) positions itself as a niche, century-old specialty retailer with a 101-store footprint and omni-channel strategy that emphasizes in-store expertise, classes/workshops, ecommerce growth (including…
10-Q · November 10, 2025
Tandy Leather reported Q3 2025 net sales of $17,264,000 and a Q3 net loss of $1,352,000 (diluted loss per share $0.17), driven by a wider operating loss and a $1,253,000 other-net expense item. Gross profit improved…
10-Q · May 12, 2025
Tandy Leather reported Q1 net sales of $19.036M, a slight decline of $0.239M (-1.2%) versus Q1 2024, with gross margin compressing to 56.3% from 56.7%. Reported net income jumped to $12.676M and diluted EPS to $1.47…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.