0001213900-26-056646
SEC filingRevenue was $93.7M (-1.6%) Operating Income was -$6.9M (-193.5%) Net Income was -$6.5M (-103.3%) Eps was $-0.23 (-91.7%)
Revenue for Q1 FY2026 totaled $93.7M, a 1.6% decrease from $95.2M in Q1 FY2025. Management attributes the decline to lower revenues during the quarter, without quantifying segment-level shifts or volume drivers beyond this directional statement. Operating income declined to -$6.9M from -$2.4M, resulting in an operating margin of -7.4%. This deterioration reflects both the revenue decline and increased fuel cost and truck expenses — factors cited directly in management’s commentary. The operating ratio, while referenced as a useful metric by management, is not disclosed numerically in the authoritative packet and therefore omitted from analysis.
Net income was -$6.5M, compared to -$3.2M in the prior-year quarter, representing a 103.3% YoY decline. Diluted EPS was $-0.23, down from $-0.12, a 91.7% decrease. These results align with the broader trend of widening losses across the income statement, consistent with the underlying drivers of reduced revenue and elevated operating costs.
The acquisition of Brothers on April 1, 2025, is explicitly identified in management commentary as the primary driver of increased general, selling, and other operating expenses. While the financial packet does not quantify the incremental expense impact, the timing and attribution are authoritative and retained as a material qualitative factor affecting cost structure. No other acquisition-related line items or integration costs are supported by the authoritative data or business context.
Management reiterates that EBITDA and operating ratio remain useful for internal planning and capital allocation decisions. Long-term capital requirements are expected to remain significant, potentially necessitating additional borrowings or lease financing. However, near-term liquidity is assessed as sufficient to meet planned fiscal year 2026 obligations based on current operating cash flow and equipment financing availability.