Filing Flows › Tandy Leather Factory (TLF) › Q1 2025
Tandy Leather Factory (TLF) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Tandy Leather Factory (TLF) reported revenue of $19.0M for the first quarter 2025 (Q1 2025), -1% from a year earlier and -7% from the quarter before. Operating margin was 1.4%, net earnings $12.7M (66.6% of revenue).
Tandy Leather Factory, Q1 2025: revenue $19.0M (-1% year over year), operating margin 1.4%, net earnings $12.7M, operating cash flow −$536K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.0M | -7% | -1% |
| Gross profit | $10.7M | -1% | -2% |
| Operating profit | $262K | +43% | -60% |
| Net earnings | $12.7M | 38× | 24× |
| Operating cash flow | −$536K | -112% | — |
What changed
Revenue was $19.0M in Q1 2025, down 1% year over year and down 7% from the previous quarter.
Gross margin was 56.3%, down 0.3 points from a year earlier. Operating profit was $262K, a 1.4% margin (down 2.0 points year over year). Operating expenses grew 2% against a revenue fall of 1%. Net earnings were $12.7M, up 2314% year over year. The effective tax rate was 24.8%. Non-operating items added $16.6M, 98% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$536K. Non-cash charges added back $93K of share-based compensation. Working capital and other items used $13.3M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$1.9M.
Questions
What was Tandy Leather Factory's revenue in the first quarter 2025?
Tandy Leather Factory (TLF) reported revenue of $19.0M for the first quarter 2025 (Q1 2025), -1% from a year earlier and -7% from the quarter before.
Was Tandy Leather Factory profitable in the first quarter 2025?
Operating profit was $262K (1.4% of revenue) and net earnings $12.7M.