Tandy Leather Q1 revenue rises 3.2% to $19.7 million; net income falls to $0.2 million
Tandy Leather Factory reported first quarter 2026 revenue of $19.7 million, up 3.2% from a year earlier, and operating income of $0.4 million, up from $0.3 million. Net income fell to $0.2 million, or $0.03 per share, from $11.6 million in the prior-year quarter, which included a gain from the sale of its headquarters, so shareholders face weaker reported profit even as sales and operating income rose.
Key points
- Revenue of $19.7 million, up from $19.0 million in the first quarter of 2025
- Gross margin of 61.0%, up from 56.3% a year earlier; operating expenses of $11.6 million, up 11.2%
- Net income of $0.2 million ($0.03 per share) versus $11.6 million ($1.36 basic per share) in the prior-year quarter, which included the headquarters sale
- Cash and cash equivalents of $10.1 million at March 31, 2026, down from $16.1 million a year earlier, after a special dividend of $0.75 per share (about $6.1 million)
The filing
Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.