National Presto Industries (NPK) Q4 2025 earnings summary

Executive summary

• Consolidated sales rose 30% year-over-year to $503.5M, driven by a 43% increase in Defense segment sales, while Housewares/Small Appliance sales declined 7% and Safety segment sales remained limited due to startup status.

• Net earnings fell 20% to $33.1M, impacted by lower Housewares/Small Appliance margins, increased tariffs, and a $2.7M vendor deposit impairment.

• Gross profit increased 2% to $80.3M, but operating profit declined 11% to $40.2M due to higher expenses and impairment charges.

Financial highlights

• Net sales: $503.5M (up from $388.2M in 2024).

• Net earnings: $33.1M (down from $41.5M in 2024).

• EPS: $4.63 (down from $5.82 in 2024).

• Gross margin: 16% (down from 20% in 2024).

• Cash and equivalents: $3.3M (down from $17.7M in 2024).

• Working capital: $308.1M (up from $292.2M in 2024).

Outlook and guidance

• Defense segment backlog reached $1.75B, expected to be fulfilled over 18–42 months.

• Management expects sufficient liquidity for capital needs, dividends, and growth initiatives.

• Ongoing evaluation of acquisition opportunities aligned with business segments.