Alpha Pro Tech, Ltd. Announces Third Quarter 2025 Financial Results
Rhea-AI Summary
Alpha Pro Tech (NYSE: APT) reported Q3 2025 revenue of $14.8 million, up 3.7% from $14.3 million in Q3 2024. Building Supply sales rose to $9.3 million while Disposable Protective Apparel sales were $5.5 million. Gross profit was $5.9 million with a 39.7% margin versus 38.5% a year earlier. Net income was $976,000 or $0.09 diluted, up 13.2% year-over-year. As of September 30, 2025 the company held $17.7 million cash, $48.1 million working capital, and no debt. The company repurchased 129,800 shares in Q3 and has retired 21.8 million shares for ~$57.4 million to date.
Management cited housing-market weakness, tariff-driven pricing volatility, declines in masks and shields, and expects tariffs to negatively affect Q4 gross profit.
Positive
- Revenue +3.7% to $14.8M in Q3 2025
- Gross profit margin improved to 39.7% (vs 38.5%)
- Net income +13.2% to $976,000 in Q3 2025
- Cash $17.7M and no debt as of Sept 30, 2025
- Share repurchases 129,800 shares in Q3; 21.8M shares retired (~$57.4M)
Negative
- Synthetic roof underlayment sales -11.0% in Q3 2025
- Face masks sales -46.5% and face shields -33.6% in Q3 2025
- Tariffs expected to negatively affect Q4 2025 gross profit
- Housing starts weakness noted (single-family starts -2.6%) creating demand risk
News Market Reaction 1 Alert
On the day this news was published, APT gained 1.20%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Overall Third Quarter Sales Increased
- Net sales for the third quarter of 2025 were
$14.8 million , up3.7% compared to$14.3 million for the third quarter of 2024- Building Supply segment increased by
$476,000 or5.4% , to$9.3 million , compared to$8.8 million for the three months ended September 30, 2024 - Disposable Protective Apparel decreased
$58,000 or1.1% , to$5.5 million , compared to$5.5 million for the same period of 2024
- Building Supply segment increased by
- Net income for the third quarter of 2025 was
$976,000 or$0.09 per diluted share, compared to$862,000 or$0.08 per diluted share for the third quarter of 2024 - Cash of
$17.7 million and working capital of$48.1 million with no debt, as of September 30, 2025
NOGALES, Ariz., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Alpha Pro Tech, Ltd. (NYSE American: APT), a leading manufacturer of products designed to protect people, products and environments, including disposable protective apparel and building products, today announced financial results for the three month and nine month periods ended September 30, 2025.
Lloyd Hoffman, President and Chief Executive Officer of Alpha Pro Tech, commented, “The housing market continued to show weakness in the third quarter of 2025 with single-family housing starts down
There continues to be uncertainty in housing starts, volatility and uncertainty in the economy as well as a stronger than normal hurricane season in the comparative latter part of 2024, which could affect this segment in the coming quarter. The increase in tariffs has created notable pricing and supply volatility within the market. In addition, declining builder confidence and ongoing price volatility have resulted in reduced inventory positions among our primary customers.
Management attributes its success in a down market to our national builder partnerships. While the building sector is currently experiencing a significant downturn, we recognize that substantial opportunities for continued expansion still exist. Looking ahead to 2026, we anticipate new product introductions as we continue to expand our self-adhered roofing and flashing categories.”
Mr. Hoffman continued, “Sales of disposable protective garments in the three months ended September 30, 2025 were up
Sales of our face mask and face shield products in the third quarter of 2025 continue to lag behind the prior year. We have promotions and pricing incentives for our customers in an attempt to turn the tide and will continue to seek out and close new sales opportunities. Our inventory position is strong and much of this segment is not burdened by tariffs. We will continue our efforts to move the trend lines in a positive direction for both face masks and face shields.”
2025 Third Quarter Financial Results:
Consolidated sales for the three months ended September 30, 2025, increased to
Building Supply segment sales for the three months ended September 30, 2025, increased by
Disposable Protective Apparel segment sales for the three months ended September 30, 2025, increased by
Gross Profit
Gross profit increased by
Net Income
Net income for the three months ended September 30, 2025, was
Balance Sheet
As of September 30, 2025, the Company had cash of
Colleen McDonald, Chief Financial Officer, commented, “As of September 30, 2025, we had
About Alpha Pro Tech, Ltd.
Alpha Pro Tech, Ltd. is the parent company of Alpha Pro Tech, Inc. and Alpha ProTech Engineered Products, Inc. Alpha Pro Tech, Inc. develops, manufactures and markets innovative disposable and limited-use protective apparel products for the industrial, clean room, medical and dental markets. Alpha ProTech Engineered Products, Inc. manufactures and markets a line of construction weatherization products, including building wrap and roof underlayment. The Company has manufacturing facilities in Nogales, Arizona, Valdosta, Georgia; and a joint venture in India. For more information and copies of all news releases and financials, visit Alpha Pro Tech’s website at http://www.alphaprotech.com.
Certain statements made in this press release constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statement that may predict, forecast, indicate or imply future results, performance or achievements instead of historical facts and may be identified generally by the use of forward-looking terminology and words such as “expects,” “anticipates,” “estimates,” “believes,” “predicts,” “intends,” “plans,” “potentially,” “may,” “continue,” “should,” “will” and words of similar meaning. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected earnings, expectations regarding order volume, timing of fulfillment of orders, production capacity and our plans to ramp up production and expand capacity, product demand, availability of raw materials and supply chain access, margins, costs, expenditures, cash flows, sources of capital, growth rates and future financial and operating results are forward-looking statements. We caution investors that any such forward-looking statements are only estimates based on current information and involve risks and uncertainties that may cause actual results to differ materially from the results contained in the forward-looking statements. We cannot give assurances that any such statements will prove to be correct. Factors that could cause actual results to differ materially from those estimated by us include the risks, uncertainties and assumptions described from time to time in our public releases and reports filed with the Securities and Exchange Commission, including, but not limited to, our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Specifically, these factors include, but are not limited to, our exposure to foreign currency exchange risks related to our unconsolidated affiliate operations in India; potential failure to remediate the material weakness in our internal controls; our partnership with a joint venture partner; the loss of any major customer or a reduction in order volume by our customers; the inability of our suppliers and contractors to meet our requirements; potential challenges related to international manufacturing; the inability to protect our intellectual property; competition in our industry; customer preferences; the timing and market acceptance of new product offerings; changes in global economic conditions; security breaches or disruptions to the information technology infrastructure; risks related to climate change and natural disasters or other events beyond our control; the effects of tariff policies and potential countermeasures; potential liabilities from environmental laws and regulations; uncertainties with respect to the development, deployment, and use of artificial intelligence; the impact of legal and regulatory proceedings or compliance challenges; and volatility in our common stock price and our investments. We also caution investors that the forward-looking information described herein represents our outlook only as of this date, and we undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this press release. Given these uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.
| Company Contact: | Investor Relations Contact: |
| Alpha Pro Tech, Ltd. | HIR Holdings |
| Donna Millar | Cameron Donahue |
| 905-479-0654 | 651-707-3532 |
| e-mail: ir@alphaprotech.com | e-mail: cameron@hirholdings.com |
-- Tables follow –
| Consolidated Balance Sheets (Unaudited) | |||||||
| September 30, | December 31, | ||||||
| 2025 | 2024 (1) | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 17,658,000 | $ | 18,636,000 | |||
| Accounts receivable, net | 5,499,000 | 3,692,000 | |||||
| Accounts receivable, related party | 1,630,000 | 1,202,000 | |||||
| Inventory, net | 23,479,000 | 22,733,000 | |||||
| Prepaid expenses | 3,482,000 | 4,376,000 | |||||
| Total current assets | 51,748,000 | 50,639,000 | |||||
| Property and equipment, net | 8,207,000 | 8,520,000 | |||||
| Goodwill | 55,000 | 55,000 | |||||
| Right-of-use assets | 8,016,000 | 8,714,000 | |||||
| Equity investment in unconsolidated affiliate | 5,842,000 | 5,814,000 | |||||
| Total assets | $ | 73,868,000 | $ | 73,742,000 | |||
| Liabilities and Shareholders' Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 1,730,000 | $ | 1,283,000 | |||
| Accrued liabilities | 989,000 | 947,000 | |||||
| Current portion of lease liabilities | 951,000 | 893,000 | |||||
| Total current liabilities | 3,670,000 | 3,123,000 | |||||
| Lease liabilities, net of current portion | 7,154,000 | 7,882,000 | |||||
| Deferred income tax liabilities, net | 503,000 | 503,000 | |||||
| Total liabilities | 11,327,000 | 11,508,000 | |||||
| Commitments and contingencies | |||||||
| Shareholders' equity: | |||||||
| Common stock, $.01 par value: 50,000,000 shares authorized; 10,284,565 and 10,816,878 shares outstanding as of September 30, 2025 and December 31, 2024, respectively | 103,000 | 108,000 | |||||
| Additional paid-in capital | 15,938,000 | 16,368,000 | |||||
| Retained earnings | 48,275,000 | 47,257,000 | |||||
| Accumulated other comprehensive loss | (1,775,000 | ) | (1,499,000 | ) | |||
| Total shareholders' equity | 62,541,000 | 62,234,000 | |||||
| Total liabilities and shareholders' equity | $ | 73,868,000 | $ | 73,742,000 | |||
(1) The condensed consolidated balance sheet as of December 31, 2024, has been prepared using information from the audited consolidated balance sheet as of that date.
| Condensed Consolidated Statements of Income (Unaudited) | ||||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net sales | $ | 14,785,000 | $ | 14,251,000 | $ | 45,279,000 | $ | 44,023,000 | ||||||||
| Cost of goods sold, excluding depreciation and amortization | 8,917,000 | 8,767,000 | 27,888,000 | 26,280,000 | ||||||||||||
| Gross profit | 5,868,000 | 5,484,000 | 17,391,000 | 17,743,000 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling, general and administrative | 4,568,000 | 4,502,000 | 13,818,000 | 14,234,000 | ||||||||||||
| Depreciation and amortization | 203,000 | 245,000 | 686,000 | 734,000 | ||||||||||||
| Total operating expenses | 4,771,000 | 4,747,000 | 14,504,000 | 14,968,000 | ||||||||||||
| Income from operations | 1,097,000 | 737,000 | 2,887,000 | 2,775,000 | ||||||||||||
| Other income: | ||||||||||||||||
| Equity in income of unconsolidated affiliate | 27,000 | 97,000 | 305,000 | 435,000 | ||||||||||||
| Gain on sale of asset | - | 30,000 | - | 30,000 | ||||||||||||
| Interest income, net | 169,000 | 235,000 | 484,000 | 700,000 | ||||||||||||
| Total other income | 196,000 | 362,000 | 789,000 | 1,165,000 | ||||||||||||
| Income before provision for income taxes | 1,293,000 | 1,099,000 | 3,676,000 | 3,940,000 | ||||||||||||
| Provision for income taxes | 317,000 | 237,000 | 843,000 | 858,000 | ||||||||||||
| Net income | $ | 976,000 | $ | 862,000 | $ | 2,833,000 | $ | 3,082,000 | ||||||||
| Basic earnings per common share | $ | 0.09 | $ | 0.08 | $ | 0.27 | $ | 0.28 | ||||||||
| Diluted earnings per common share | $ | 0.09 | $ | 0.08 | $ | 0.27 | $ | 0.28 | ||||||||
| Basic weighted average common shares outstanding | 10,354,289 | 11,075,527 | 10,525,957 | 11,103,467 | ||||||||||||
| Diluted weighted average common shares outstanding | 10,485,088 | 11,173,739 | 10,642,957 | 11,194,178 | ||||||||||||
FAQ
What were Alpha Pro Tech (APT) Q3 2025 revenues and year-over-year change?
How did Alpha Pro Tech (APT) perform on profitability in Q3 2025?
What did Alpha Pro Tech (APT) report about cash, debt and working capital as of Sept 30, 2025?
How much stock did Alpha Pro Tech (APT) repurchase in Q3 2025 and total to date?
Which product lines weakened for Alpha Pro Tech (APT) in Q3 2025?
Does Alpha Pro Tech (APT) expect any near-term headwinds after Q3 2025?
