Filing Flows › Bassett Furniture Industries (BSET) › Q1 FY26
Bassett Furniture Industries (BSET) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Apr 1, 2026
Bassett Furniture Industries (BSET) reported revenue of $80.3M for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and -9% from the quarter before. Operating margin was 1.4%, net earnings $1.1M (1.4% of revenue).
Bassett Furniture Industries, Q1 FY26: revenue $80.3M (-2% year over year), operating margin 1.4%, net earnings $1.1M, operating cash flow −$5.5M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $80.3M | -9% | -2% |
| Gross profit | $45.2M | -10% | -4% |
| Operating profit | $1.2M | -49% | -53% |
| Net earnings | $1.1M | -27% | -40% |
| Operating cash flow | −$5.5M | -170% | — |
What changed
Revenue was $80.3M in Q1 FY26, down 2% year over year and down 9% from the previous quarter. Bassett Custom Upholstery was the largest line at 58% of revenue. Bassett Custom Upholstery lost $3.4M year over year (down 7%), 186% of the total change.
Gross margin was 56.2%, down 0.8 points from a year earlier. Operating profit was $1.2M, a 1.4% margin (down 1.5 points year over year). Operating expenses fell 1% while revenue fell 2%. Net earnings were $1.1M, down 40% year over year. The effective tax rate was 26.5%. Non-operating items added $361K, 24% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$5.5M. Non-cash charges added back $2.2M of depreciation and amortization. Working capital and other items used $8.8M. Capital expenditures of $863K exceeded it, leaving free cash flow of −$6.3M.
Questions
What was Bassett Furniture Industries' revenue in the first quarter fiscal 2026?
Bassett Furniture Industries (BSET) reported revenue of $80.3M for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and -9% from the quarter before.
Was Bassett Furniture Industries profitable in the first quarter fiscal 2026?
Operating profit was $1.2M (1.4% of revenue) and net earnings $1.1M.