RF Industries (RF5) Q3 2026 Earnings Report
DE:RF5 Q3 2026 EPS Results
- Actual EPS
- EUR 0.17
- Consensus EPS
- EUR 0.18
- Beat/Miss
- Missed by -EUR 0.01
- One Year Ago EPS
- EUR 0.09
DE:RF5 Q3 2026 Revenue Results
- Actual Revenue
- EUR 21.38M
- Expected Revenue
- EUR 20.78M
- Beat/Miss
- Beat by +EUR 604.16K
- YoY Revenue Growth
- +21.07%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 09/14/2026
- Time
- Before Open
- Conference Call
- Monday, September 14, 2026
DE:RF5 Upcoming Earnings
RF Industries's next earnings date is estimated for January 21, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:RF5 Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by record revenue, substantial profit and margin expansion, improved cash generation and net debt, broad-based segment contributions, strong demand, and an expectation that Q4 sales will be roughly the same as or above Q3. The main challenges were delayed small cell dollars, limited current-year contribution from NEMA 4 opportunities, a Q3 book-to-bill ratio below 1.0x, and largely flat carrier capital spending, but management described momentum in these areas and stronger contributions ahead.
Company Guidance
With what we know today, RF Industries expects sales in its current fiscal fourth quarter to be roughly the same or above its Q3 sales level of $24 million; management said the small cell market is picking up momentum into the fourth and certainly into next fiscal year, expects its DAC business to be north of $10 million in sales, and said NEMA 4 and related wireline edge data center, traditional telco, and edge AI deployments start to accelerate into fiscal 27, with not a huge material contribution this fiscal year but a much more material contribution from those customers. Management also said carrier CapEx on the wireless side is expected to be largely flat, while the company expects to reduce net debt to a level it views as immaterial relative to its balance sheet.
- Record Quarterly RevenueThird-quarter revenue reached a record $24 million, up 21% year over year and 16% sequentially, establishing a new high watermark for RF Industries.
- Improved Gross Profit and MarginGross profit increased 27% to $8.5 million, while gross profit margin expanded 160 basis points to 35.6% from 34% in the prior-year period. The company exceeded its 30% gross-margin objective in 6 of the last 7 quarters.
- Strong Operating Income GrowthThird-quarter operating income increased to $1.8 million from $720 thousand in the prior-year quarter, and operating margin improved to 7.3% from 3.6%.
- Higher Net Income and EPSConsolidated net income was $1.4 million, or $0.12 per diluted share, compared with $392 thousand, or $0.04 per diluted share, in the prior-year quarter. Non-GAAP net income increased to $2.2 million, or $0.19 per diluted share, from $1.1 million, or $0.10 per diluted share.
- Adjusted EBITDA Above Long-Term GoalAdjusted EBITDA increased approximately 71% to $2.7 million from $1.6 million, while adjusted EBITDA margin improved to 11.1% from 7.9%, exceeding the company's 10% long-term goal.
- Year-to-Date Financial GrowthFor the first nine months, sales increased 10% to $63.6 million, gross profit increased 19% to $21.9 million, and gross profit margin expanded to 34.5% from 31.8%. Operating income increased to $3 million from $882 thousand, and adjusted EBITDA increased 61% to $5.7 million from $3.5 million.
- Improved Liquidity and Net Debt PositionAs of July 31, 2026, the company had $4.5 million of cash and cash equivalents, $18.3 million of working capital, and a current ratio of approximately 2.0 to 1. Cash increased by approximately $1.1 million during the quarter, revolver borrowings declined by approximately $400 thousand to $5.7 million, and management reported a meaningful improvement in its net debt position.
- Healthy Demand, Bookings, and BacklogThird-quarter bookings were $22.5 million, following record-setting second-quarter bookings. Year-to-date bookings were ahead of year-to-date sales, and backlog increased from $18.6 million at July 31 to $19.8 million as of the call. Management said the backlog and opportunity pipeline provide a solid foundation entering the final quarter.
- Balanced Segment ContributionsEvery segment contributed meaningfully in the quarter, with custom cabling continuing to lead, interconnect stepping up from Q2, and integrated systems gaining traction. Management said the contribution balance across the portfolio was improving.
- Broader End-Market and Customer DiversificationThe company's solutions now support aerospace, edge data centers, AI infrastructure, industrial manufacturing, medical imaging, transportation, and public safety. Q3 contributions came from aerospace and defense, telecommunications, industrial, and distribution customers, with several new contributors emerging across end markets.
- Growth in Higher-Value SolutionsHigher-value integrated systems and custom cabling solutions gained traction and made a significant contribution to results. Management said these offerings include more engineering content, address larger project scopes, and deepen customer relationships.
- Engineering and Product Management IntegrationRF Industries unified its engineering and product line management teams under a single integrated structure within the interconnect and integrated systems segments. Management said the change is intended to support faster product launches, clearer accountability, stronger execution on complex programs, and better customer solutions.
- Operational Execution and Supply Chain FlexibilityManagement said the operations team and processes were 'firing on all cylinders.' The U.S.-based manufacturing footprint and deliberately diverse supply chain were described as providing flexibility to respond to changing demand and the shifting tariff and geopolitical landscape.
- Expansion of AI EnablementThe company continued developing AI as a business enablement tool, initially in sales and customer-facing functions to help teams work smarter, respond faster, and engage more effectively. The roadmap is expected to extend AI into engineering, operations, and supply chain in future quarters.
- Positive Fourth-Quarter Revenue OutlookWith one quarter remaining, management said the company was on target for the strong second half it had previously expected. Based on what it knows today, it expects fiscal fourth-quarter sales to be roughly the same as or above the Q3 sales level.
- DAC Business Scaling and ExpandingThe DAC business, previously relatively immaterial, has grown to millions of dollars per quarter. Management expects DAC sales to be north of $10 million and accelerating, with opportunities expanding beyond traditional telecom and wireless markets into other markets.
- Aerospace Customer Strength and Market ExpansionManagement said the relationship with its large aerospace customer remains strong, supported by design, engineering, and technical involvement from the Long Island team. The experience and expertise from that relationship are also supporting conversations with additional aerospace customers.
- Edge Data Center and Cooling OpportunityManagement said deployments at the edge of the network are accelerating and that RF Industries is being included in more discussions across customer types. It cited the potential for edge deployments to be 70% or 80% more cost effective than larger data centers in some circumstances because of lower water and electricity requirements.
DE:RF5 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 21, 2027 | 2026 (Q4) | 0.18- | 0.18 | ― | ― |
| Sep 14, 2026 | 2026 (Q3) | 0.180.17 | 0.09 | 90.00% (+0.08) | |
| Jun 15, 2026 | 2026 (Q2) | 0.080.12 | 0.06 | 100.00% (+0.06) | |
| Mar 16, 2026 | 2026 (Q1) | 0.030.05 | 0.04 | 50.00% (+0.02) | |
| Jan 14, 2026 | 2025 (Q4) | 0.080.18 | 0.04 | 400.00% (+0.14) | |
| Sep 11, 2025 | 2025 (Q3) | 0.050.09 | -0.01 | 1100.00% (+0.10) | |
| Jun 16, 2025 | 2025 (Q2) | 0.040.06 | 0.01 | 600.00% (+0.05) | |
| Mar 17, 2025 | 2025 (Q1) | 0.030.04 | -0.05 | 166.67% (+0.09) | |
| Jan 16, 2025 | 2024 (Q4) | 0.050.04 | -0.01 | 500.00% (+0.04) | |
| Sep 16, 2024 | 2024 (Q3) | 0.05-0.01 | -0.07 | 87.50% (+0.06) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed