Filing Flows › Tandy Leather Factory (TLF) › Q1 2026
Tandy Leather Factory (TLF) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Tandy Leather Factory (TLF) reported revenue of $19.7M for the first quarter 2026 (Q1 2026), +3% from a year earlier and -12% from the quarter before. Operating margin was 1.9%, net earnings $222K (1.1% of revenue).
Tandy Leather Factory, Q1 2026: revenue $19.7M (+3% year over year), operating margin 1.9%, net earnings $222K, operating cash flow $906K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.7M | -12% | +3% |
| Gross profit | $12.0M | -0.7% | +12% |
| Operating profit | $365K | — | +39% |
| Net earnings | $222K | — | -98% |
| Operating cash flow | $906K | -82% | — |
| Free cash flow | $319K | -92% | — |
What changed
Revenue was $19.7M in Q1 2026, up 3% year over year and down 12% from the previous quarter.
Gross margin was 61.0%, up 4.7 points from Q1 2025. Operating profit was $365K, a 1.9% margin (up 0.5 points year over year). Of the extra revenue versus Q1 2025, 17% reached operating profit, above the 1% margin then. Operating expenses grew 11% against revenue growth of 3%. Net earnings were $222K, down 98% year over year. The effective tax rate was 39.7%.
Operating cash flow was $906K, 408% of net earnings. Non-cash charges added back $93K of share-based compensation. Working capital and other items added $591K. Capital expenditures of $587K left free cash flow of $319K.
Questions
What was Tandy Leather Factory's revenue in the first quarter 2026?
Tandy Leather Factory (TLF) reported revenue of $19.7M for the first quarter 2026 (Q1 2026), +3% from a year earlier and -12% from the quarter before.
Was Tandy Leather Factory profitable in the first quarter 2026?
Operating profit was $365K (1.9% of revenue) and net earnings $222K.