FGI Industries Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw 2.9% revenue growth and a significant gross margin increase to 33.4%, driven by trade-related recoveries and disciplined cost management. Guidance for 2026 is unchanged, though management expects results toward the lower end due to market caution.
Fiscal Year 2025
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Fourth quarter revenue declined 14.4% year-over-year due to tariff impacts and prior order pull-forward, but gross margin improved to 26.7%. Guidance for 2026 anticipates revenue of $134–$141 million, with growth expected from India and new sourcing partnerships.
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Second quarter revenue grew 5.5% year-over-year to $31 million, but gross margin declined due to tariffs, resulting in a $0.8 million operating loss. Management maintained 2025 guidance and expects margin recovery in the second half as new programs launch and sourcing diversifies.
Fiscal Year 2024
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Fourth quarter revenue rose 15% year-over-year to $35.6 million, with strong growth in Bath Furniture and custom kitchen cabinetry, but gross margin declined due to higher marketing and promotional costs. 2025 guidance anticipates flat industry growth, tariff headwinds, and revenue of $135–$145 million.
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Q3 revenue grew 20.6% year-over-year to $36.1M, with strong gains across all segments and geographies. Despite a dip in gross margin due to freight and promotional costs, guidance was raised for revenue but lowered for profitability, reflecting ongoing investments.
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Q2 2024 revenue rose 1% year-over-year to $29.4 million, with gross margin up to 30.5%. Shipment delays from SAP transition and higher freight costs impacted results, but guidance for 2024 is unchanged and new product launches are fueling optimism for the second half.