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Richardson Electronics
Richardson Electronics (RELL) investor relations material
Richardson Electronics Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary8 Jan, 2026
Executive summary
Q2 FY26 net sales rose 5.7% year-over-year to $52.3M, marking the sixth consecutive quarter of YoY growth, led by 39% growth in GES and 28.1% in Canvys, while PMT sales declined 4%.
Excluding Healthcare, which was divested in January 2025, net sales increased 9% YoY; Healthcare results now consolidated into PMT.
Operating income improved to $0.1M from a $0.7M loss, and net loss narrowed to $0.1M from $0.8M; EBITDA for Q2 was $0.7M, up from breakeven.
First six months: net sales $106.9M (+3.6%), net income $1.8M vs. $0.2M loss, EBITDA $4.0M vs. $1.7M.
A quarterly cash dividend of $0.06 per share was declared.
Financial highlights
Q2 FY26 gross margin was 30.8%, slightly down from 31.0% YoY; operating expenses improved to 30.5% of sales.
Net loss per diluted share was $0.01, compared to $0.05 loss YoY; Q2 operating margin improved to 0.3% from -1.3%.
Cash and cash equivalents at quarter-end: $33.1M; no outstanding debt.
Backlog at quarter-end: $135.7M, up over 125% since FY2019.
Capital expenditures of $1.6M in Q2, focused on manufacturing, facilities, and IT.
Outlook and guidance
Anticipates continued growth in green energy and semiconductor wafer fab equipment markets through 2026 and beyond.
Expects bottom-line improvement in healthcare segment starting FY27 as ALTA tube production concludes and Siemens repair ramps up.
Ongoing investments in design centers, R&D, and new product development to support future growth.
Management expects continued earnings improvement and value creation for shareholders, citing a strong balance sheet and durable customer relationships.
Near-term volatility expected from global trade and U.S. policy impacts, but minimal exposure to China limits tariff risk.
Powergrid tube inventory: cash flow impact post-Q1 CY26?
Global ESS market penetration strategy
Profitability timeline for remaining healthcare business
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Next Richardson Electronics earnings date
Q3 20269 Apr, 2026
Richardson Electronics
Next Richardson Electronics earnings date
Q3 20269 Apr, 2026
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Frequently asked questions
Richardson Electronics, Ltd. engages in the power and microwave technologies, customized display solutions, and healthcare businesses in North America, the Asia Pacific, Europe, and Latin America. The company operates through four segments: Power and Microwave Technologies Group; Optronics Group; Custom Solutions Group; and Healthcare Technology Group. The Power and Microwave Technologies Group offers power electronics modules that convert mains voltages to regulated low voltage for further distribution within buildings. It also provides power conversion products consisting of inverters, drivers, and DC-to-DC converters; power management system components that offer microcontrollers with set features for PWM and analogue signal conditioning; motor control products sought for consumer applications such as washing machines, fans, and vacuum cleaners; electronic control systems used for industrial applications such as conveyors and rollers; telecommunications peripheral products for audio output amplifiers; high-current transformers for systems such as cathodic protection of pipelines; RF power amplifiers used in satellite communications systems such as uplink tracking is part of its operations. Richardson Electronics is based in LaFox, Illinois.
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