APWC Announces Financial Results for the First Quarter of 2026
Rhea-AI Summary
Asia Pacific Wire & Cable (NASDAQ: APWC) reported Q1 2026 revenue of $130.8 million, up 30% year over year and down 2% sequentially. EPS was $0.05, up from a loss of $0.07 a year ago but down from $0.17 in Q4 2025.
Gross profit rose to $10.7 million with an 8.2% margin, versus 3.6% a year earlier. Operating profit reached $3.3 million versus a prior-year loss, and net income attributable to shareholders was $1.4 million. A rights offering raised $34.1 million, lifting cash to $73.2 million.
Positive
- Revenue $130.8 million, up 30% year over year in Q1 2026
- Gross profit $10.7 million, up 189% year over year; margin 8.2% vs 3.6%
- Operating profit $3.3 million vs a $2.7 million loss a year earlier
- Net income attributable to shareholders $1.4 million vs a $1.5 million loss year ago
- EPS $0.05 vs ($0.07) in Q1 2025, with copper volume up 5% year over year
- Thailand segment revenue $51.2 million, up 41% year over year and 12% sequentially
- Operating cash flow $1.6 million inflow vs $1.9 million outflow in prior quarter
- Rights offering raised $34.1 million, increasing cash to $73.2 million
Negative
- Revenue down 2% sequentially from $133.8 million in Q4 2025
- EPS down 71% sequentially, from $0.17 to $0.05
- Net income down 60% sequentially, from $3.5 million to $1.4 million
- Selling, general and administrative expenses up 19% year over year to $7.6 million
- ROW segment revenue down 14% sequentially to $55.7 million
- Q1 profit includes approximately $1.0 million one-time gain on disposal of an investment
- Total comprehensive income for the period was a $1.8 million loss, driven by other comprehensive items
News Market Reaction – APWC
In the May 14 session, APWC declined 0.70%, reflecting a mild negative market reaction. Argus tracked a trough of -2.9% from its starting point during tracking.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 29 | Q4/FY25 earnings | Positive | -0.6% | Q4 2025 revenue $133.8M and EPS $0.17 with 8.2% gross margin. |
| Nov 14 | Q3 2025 earnings | Positive | -2.1% | Q3 2025 revenue $128.4M, 5% YoY growth, EPS $0.05 and higher margins. |
| Aug 14 | Q2 2025 earnings | Positive | +13.4% | Q2 2025 revenue $126.9M and EPS $0.03 with strong segment growth. |
| Apr 02 | FY2024 results | Neutral | +1.3% | FY2024 revenue $472.7M up 11%, but EPS declined to $0.17. |
| Dec 02 | Q3 2024 results | Negative | -8.9% | Nine‑month 2024 revenues up 14.4% but net income and EPS declined. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings reports have produced generally modest moves, with three aligned reactions and two divergences, even when fundamentals shifted meaningfully.
Across recent earnings, APWC has shown steady revenue growth and improving profitability. Q3 2024 revenues reached $336.6M for the nine months, with operating profit of $4.5M, while FY2024 revenue was $472.7M. In 2025, quarterly revenues climbed from $126.9M in Q2 to $133.8M in Q4, with Q4 EPS of $0.17. Margins improved in Thailand and overall operating profit expanded. Today’s Q1 2026 update, with revenue of $130.8M and EPS of $0.05, continues this trajectory of higher sales and positive EPS versus prior-year losses.
Key Terms
gross profit margin financial
rights offering financial
cash flow from operating activities financial
non-controlling interests financial
other comprehensive income financial
fvoci financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Quarterly revenue of
$130.8 million , up30% from a year ago - Quarterly EPS was
$0.05 , up171% from a year ago
TAIPEI, Taiwan, May 14, 2026 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited ("APWC" or the "Company") (NASDAQ: APWC) today announced its financial results for the first quarter ended March 31, 2026.
Quarterly revenue was
For the quarter, earnings per share were
Copper unit volume, measured by the tonnage of copper contained in the wire and cable sold, decreased
Q1 Fiscal 2026 Summary
| Q1 Financial Results | |||||||||||
| ($ in millions, except earnings per share) | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | Q/Q | Y/Y | ||||||
| Revenues | $ | 130.8 | $ | 133.8 | $ | 100.6 | (2 | )% | 30 | % | |
| Gross profit | $ | 10.7 | $ | 11.0 | $ | 3.7 | (3 | )% | 189 | % | |
| Operating expenses | $ | 7.6 | $ | 8.3 | $ | 6.4 | (8 | )% | 19 | % | |
| Operating profit | $ | 3.3 | $ | 2.8 | $ | (2.7 | ) | 18 | % | 222 | % |
| Net income | $ | 1.4 | $ | 3.5 | $ | (1.5 | ) | (60 | )% | 193 | % |
| EPS | $ | 0.05 | $ | 0.17 | $ | (0.07 | ) | (71 | )% | 171 | % |
| Revenue by Reportable Segments | |||||||||||
| ($ in millions) | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | Q/Q | Y/Y | ||||||
| North Asia | $ | 23.9 | $ | 23.3 | $ | 18.9 | 3 | % | 26 | % | |
| ROW | $ | 55.7 | $ | 64.6 | $ | 45.4 | (14 | )% | 23 | % | |
| Thailand | $ | 51.2 | $ | 45.9 | $ | 36.3 | 12 | % | 41 | % | |
| Total | $ | 130.8 | $ | 133.8 | $ | 100.6 | (2 | )% | 30 | % | |
Revenue
Revenue for the first quarter was
North Asia revenue for the first quarter was
Thailand's revenue for the first quarter was up
ROW revenue grew in the first quarter, up
Gross Profit
Gross profit margin for the first quarter was
Expenses
Total selling, general, and administrative expenses increased
Non-Operating Items
During the quarter, the Company recorded a one-time gain of approximately
Balance Sheet and Cash Flow
Cash and cash equivalents were
Trade receivables for the first quarter rose to
Inventory was
Cash flow from operating activities generated an inflow of
We encourage shareholders to visit the Company's website for further information (www.apwcc.com). Information on the Company's website or any other website does not constitute a portion of this release.
About Asia Pacific Wire & Cable Corporation Limited
Asia Pacific Wire & Cable Corporation Limited is a holding company incorporated in Bermuda with principal executive offices in Taiwan that operates its business through subsidiaries primarily engaged in the manufacture and distribution of enameled wire, power cable, and telecommunications products in Thailand, Singapore, Australia, the People’s Republic of China, Hong Kong and certain other markets in the Asia Pacific region. The Company also engages in the distribution of certain wire and cable products manufactured by its controlling shareholder, Pacific Electric Wire & Cable Co., Ltd., and certain third parties. The Company also provides project engineering services in the supply, delivery and installation of power cable. The Company’s major customers include appliance component manufacturers, electrical contracting firms, state owned entities, and wire and cable dealers and factories.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes”, “anticipates”, “expects”, “estimates”, “intends”, “plans” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company, or to persons acting on its behalf, are expressly qualified in their entirety by these factors, other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Investor Relations Contact:
Pacific Holdings Group
2901 Dallas Parkway, Suite 360
Plano, TX 75093
Attn: Paul Weber
Phone: (469) 797-7191
Email: pweber@pusa.com
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||
| CONSOLIDATED INCOME STATEMENTS | |||||||
| (Amounts in thousands of US Dollars, except share data) | |||||||
| For the three months | |||||||
| ended March 31, | |||||||
| 2026 | 2025 | ||||||
| (Unaudited) | (Unaudited) | ||||||
| US$'000 | US$'000 | ||||||
| Revenue | $ | 130,846 | $ | 100,587 | |||
| Cost of sales | (120,172 | ) | (96,922 | ) | |||
| Gross profit | 10,674 | 3,665 | |||||
| Other operating income | 117 | 35 | |||||
| Selling, general and administrative expenses | (7,645 | ) | (6,426 | ) | |||
| Other operating expenses | — | (52 | ) | ||||
| Net impairment loss on financial and contract assets | 129 | 41 | |||||
| Operating profit | 3,275 | (2,737 | ) | ||||
| Finance costs | (350 | ) | (414 | ) | |||
| Finance income | 19 | 22 | |||||
| Gain on disposal of investment | 1,044 | — | |||||
| Exchange gain/(loss) | 362 | 274 | |||||
| Other income | 73 | 198 | |||||
| Other expense | (227 | ) | — | ||||
| Profit before tax | 4,196 | (2,657 | ) | ||||
| Income tax expense | (1,140 | ) | 361 | ||||
| Profit for the period | $ | 3,056 | $ | (2,296 | ) | ||
| Attributable to: | |||||||
| Equity holders of the parent | 1,430 | (1,479 | ) | ||||
| Non-controlling interests | 1,626 | (817 | ) | ||||
| 3,056 | (2,296 | ) | |||||
| Basic and diluted profit per share | $ | 0.05 | $ | (0.07 | ) | ||
| Basic and diluted weighted average common shares outstanding | 28,404,579 | 20,616,227 | |||||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||
| (Amounts in thousands of US Dollars, except share data) | |||||||
| For the three months | |||||||
| ended March 31, | |||||||
| 2026 | 2025 | ||||||
| (Unaudited) | (Unaudited) | ||||||
| US$'000 | US$'000 | ||||||
| Profit for the period | 3,056 | (2,296 | ) | ||||
| Other comprehensive income | |||||||
| Cumulative translation differences reclassified to profit or loss on liquidation of a subsidiary | — | — | |||||
| (4,198 | ) | 2,130 | |||||
| Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods: | |||||||
| Changes in the fair value of equity instruments measured at FVOCI | (880 | ) | (6 | ) | |||
| Income tax effect | 176 | 1 | |||||
| (704 | ) | (5 | ) | ||||
| Re-measuring losses on defined benefit plans | 59 | (11 | ) | ||||
| Income tax effect | (12 | ) | 2 | ||||
| 47 | (9 | ) | |||||
| Other comprehensive income for the year, net of tax | (4,855 | ) | 2,116 | ||||
| Total comprehensive income for the period, net of tax | (1,799 | ) | (180 | ) | |||
| Attributable to: | |||||||
| Equity holders of the parent | (573 | ) | 97 | ||||
| Non-controlling interests | (1,226 | ) | (277 | ) | |||
| $ | (1,799 | ) | $ | (180 | ) | ||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of March 31, 2026 (Unaudited) | As of December 31, 2025 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | 73,218 | 33,163 | |||
| Financial assets at fair value through profit or loss | 18 | 61 | |||
| Trade receivables | 108,094 | 103,535 | |||
| Other receivables | 135 | 936 | |||
| Contract assets | 13,180 | 7,748 | |||
| Due from related parties | 1,860 | 3,905 | |||
| Inventories | 150,565 | 151,515 | |||
| Prepayments | 2,552 | 3,118 | |||
| Assets classified as held for sale | 791 | 782 | |||
| Other current assets | 6,330 | 4,336 | |||
| 356,743 | 309,099 | ||||
| Non-current assets | |||||
| Financial assets at fair value through other comprehensive income | 3,244 | 4,161 | |||
| Property, plant and equipment | 51,507 | 53,683 | |||
| Right of use assets | 2,623 | 2,879 | |||
| Investment properties | 516 | 536 | |||
| Intangible assets | 54 | 65 | |||
| Investments in associates | 839 | 875 | |||
| Deferred tax assets | 5,998 | 6,169 | |||
| Other non-current assets | 5,217 | 4,228 | |||
| 69,998 | 72,596 | ||||
| Total assets | 426,741 | 381,695 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of March 31, 2026 (Unaudited) | As of December 31, 2025 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Liabilities | |||||
| Current liabilities | |||||
| Interest-bearing loans and borrowings | 47,658 | 41,828 | |||
| Trade and other payables | 60,413 | 58,184 | |||
| Due to related parties | 12,200 | 9,590 | |||
| Financial liabilities at fair value through profit or loss | 152 | — | |||
| Accruals | 6,095 | 11,079 | |||
| Current tax liabilities | 1,362 | 644 | |||
| Employee benefit liabilities | 1,158 | 2,507 | |||
| Financial lease liabilities | 1,102 | 1,113 | |||
| Other current liabilities | 13,459 | 6,877 | |||
| 143,599 | 131,822 | ||||
| Non-current liabilities | |||||
| Interest-bearing loans and borrowings | — | 510 | |||
| Employee benefit liabilities | 7,593 | 6,524 | |||
| Lease liabilities | 1,231 | 1,473 | |||
| Deferred tax liabilities | 4,350 | 4,239 | |||
| Other non-current liabilities | 729 | 175 | |||
| 13,903 | 12,921 | ||||
| Total liabilities | 157,502 | 144,743 | |||
| Equity | |||||
| Issued capital | 413 | 206 | |||
| Additional paid-in capital | 151,973 | 118,103 | |||
| Treasury shares | (38 | ) | (38 | ) | |
| Retained earnings | 66,517 | 65,087 | |||
| Other components of equity | (15,069 | ) | (13,066 | ) | |
| Equity attributable to equity holders of the parent | 203,796 | 170,292 | |||
| Non-controlling interests | 65,443 | 66,660 | |||
| Total equity | 269,239 | 236,952 | |||
| Total liabilities and equity | 426,741 | 381,695 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| For the three months | |||||||
| ended March 31, | |||||||
| 2026 | 2025 | ||||||
| (Unaudited) | (Unaudited) | ||||||
| US$'000 | US$'000 | ||||||
| Net cash provided by/(used in) operating activities | $ | 1,571 | $ | (2,008 | ) | ||
| Net cash used in investing activities | (930 | ) | (2,047 | ) | |||
| Net cash provided by financing activities | 40,584 | 8,035 | |||||
| Effect of exchange rate | (1,170 | ) | 241 | ||||
| Net decrease in cash and cash equivalents | 40,055 | 4,221 | |||||
| Cash and cash equivalents at beginning of period | 33,163 | 34,035 | |||||
| Cash and cash equivalents at end of period | $ | 73,218 | $ | 38,256 | |||
