Filing Flows › NLI Holdings (NL) › Q1 2026
NLI Holdings (NL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
NLI Holdings (NL) reported revenue of $40.6M for the first quarter 2026 (Q1 2026), +0.7% from a year earlier and +8% from the quarter before. Operating margin was 10.1%, net earnings $4.3M (10.7% of revenue).
NLI Holdings, Q1 2026: revenue $40.6M (+0.7% year over year), operating margin 10.1%, net earnings $4.3M, operating cash flow −$3.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $40.6M | +8% | +0.7% |
| Gross profit | $13.3M | +10% | +9% |
| Operating profit | $4.1M | +43% | +30% |
| Net earnings | $4.3M | — | +551% |
| Operating cash flow | −$3.5M | — | — |
What changed
Revenue was $40.6M in Q1 2026, up 1% year over year and up 8% from the previous quarter. Security Products was the largest line at 74% of revenue. Marine Components added $631K year over year (up 6%), 212% of the total change. Security Products declined 1%.
Gross margin was 32.7%, up 2.5 points from Q1 2025. Operating profit was $4.1M, a 10.1% margin (up 2.3 points year over year). Of the extra revenue versus Q1 2025, 323% reached operating profit, above the 8% margin then. Operating expenses grew 1% against revenue growth of 1%. Net earnings were $4.3M, up 551% year over year. The effective tax rate was 22.4%. Non-operating items added $2.5M, 37% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.5M. Non-cash charges added back $868K of depreciation and amortization. Working capital and other items used $9.5M. Capital expenditures of $404K exceeded it, leaving free cash flow of −$3.9M.
Questions
What was NLI Holdings' revenue in the first quarter 2026?
NLI Holdings (NL) reported revenue of $40.6M for the first quarter 2026 (Q1 2026), +0.7% from a year earlier and +8% from the quarter before.
Was NLI Holdings profitable in the first quarter 2026?
Operating profit was $4.1M (10.1% of revenue) and net earnings $4.3M.
Source: NLI Holdings 10-Q on SEC EDGAR.