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Transcat (TRNS) investor relations material
Transcat Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q1 FY26 revenue rose 15% year-over-year to $76.4M, with double-digit growth in both service and distribution segments, driven by robust demand and recent acquisitions including Essco and Martin Calibration.
Adjusted EBITDA increased 15% to $11.8M, while net income declined 26% to $3.3M due to higher interest expense and taxes.
Completed the $84M acquisition of Essco Calibration Laboratory, the largest in company history, expanding presence in New England and adding $22M in annual revenue.
Integration of Martin Calibration is ahead of schedule, contributing to Midwest growth and sales synergies.
Closed a new 5-year $150M syndicated secured credit facility, nearly doubling available capital and supporting future acquisitions.
Financial highlights
Consolidated revenue reached $76.4M, up 15% year-over-year, with service revenue up 12% to $49.1M and distribution revenue up 19% to $27.3M.
Gross profit increased 14% to $25.8M; distribution gross margin hit a record 35.2%, up 130 bps, while service gross margin declined 100 bps to 33.0%.
Adjusted EBITDA was $11.8M, with a margin of 15.4%; operating income grew 4.7% to $5.3M, but operating margin declined to 7.0%.
Net income for the quarter was $3.3M, down from $4.4M, with diluted EPS at $0.35 and adjusted EPS at $0.59.
Operating cash flow was lower year-over-year due to working capital timing; operating free cash flow was negative $1.0M.
Outlook and guidance
Management expects progressively stronger performance through FY26, with high single-digit organic service revenue growth in the second half, barring further economic deterioration.
Distribution margins are anticipated to benefit from continued rental growth.
Fiscal 2026 income tax rate projected between 27% and 29%.
Focus remains on automation, productivity, and leveraging the operating model for margin expansion.
Acquisition pipeline remains strong, with continued focus on integration and market expansion.
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