Monitor copper price trends and public-sector contract execution for revenue sustainability. The negative operating cash flow and inventory build warrant close watch on working capital management. The diluted EPS trajectory is a key concern given the February 2026 equity issuance.
Price Chart
Executive Summary
APWC reported Q2 FY2026 revenue of $136.6M (+8% YoY) and EPS of $0.01, down 67% YoY due to a 100% increase in weighted average shares from a February 2026 equity issuance. Revenue growth was driven by higher copper prices and public-sector contracts, but operating cash flow was negative $18.0M and copper unit volume declined 7% YoY, signaling underlying operational weakness.
Key Financial Metrics
Key Facts
- Q2 FY2026 revenue $136.6M, up 8% YoY and 4% sequentially
- EPS $0.01, down 67% YoY and 80% sequentially, driven by share count doubling to 41.2M from 20.6M a year ago
- Copper unit volume decreased 7% YoY and 3% sequentially
- Gross profit margin improved to 8.1% from 6.8% YoY
- Operating cash flow was negative $18.0M vs positive $1.6M in prior quarter
- Cash and equivalents $64.6M, down $8.6M from Q1
- Inventory increased $20.7M sequentially to $171.3M for contract fulfillment
Financial Impact
EPS declined 67% YoY to $0.01 on a doubled share count; operating cash flow swung to -$18.0M from +$1.6M QoQ
Risk Factors
- Copper unit volume declining 7% YoY despite revenue growth from price inflation
- Negative operating cash flow of $18.0M in Q2
- EPS dilution from 100% increase in weighted average shares
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3345354 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 6w ago | 6-K | $1.36 $1.29 | ▼ −5.15% | ▼ −7.87% | $1.21 (−11.03%) |
Sep 14, 2026 6w ago | Press Release | $1.36 $1.29 | ▼ −5.15% | ▼ −7.87% | $1.21 (−11.03%) |
Aug 14, 2026 10w ago | 6-K | $1.52 $1.31 | ▼ −13.82% | ▼ −11.82% | $1.21 (−20.39%) |
Aug 14, 2026 10w ago | Press Release | $1.52 $1.31 | ▲ +13.82% | ▲ +11.82% | $1.21 (+20.39%) |
May 14, 2026 23w ago | 6-K | $1.42 $1.37 | ▼ −3.52% | ▼ −2.66% | $1.21 (−14.79%) |
May 14, 2026 23w ago | Press Release | $1.42 $1.37 | ▼ −3.52% | ▼ −2.66% | $1.21 (−14.79%) |
May 1, 2026 25w ago | 6-K | $1.53 $1.45 | ▼ −5.36% | ▼ −10.64% | $1.21 (−20.92%) |
Apr 29, 2026 25w ago | 20-F | $1.57 $1.44 | ▼ −8.28% | ▼ −13.74% | $1.21 (−22.93%) |
Apr 29, 2026 25w ago | 6-K | $1.57 $1.44 | ▼ −8.28% | ▼ −13.74% | $1.21 (−22.93%) |
Apr 29, 2026 25w ago | Press Release | $1.57 $1.44 | ▼ −8.28% | ▼ −13.74% | $1.21 (−22.93%) |
US Market Status
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