APWC Announces Financial Results for the Second Quarter of 2026
Rhea-AI Summary
Asia Pacific Wire & Cable (NASDAQ: APWC) reported Q2 FY2026 revenue of $136.6 million, up 4% sequentially and 8% year over year, driven mainly by higher international copper prices and execution of public-sector contracts. Gross profit was $11.0 million, with gross margin improving to 8.1% from 6.8% a year earlier.
Operating profit rose to $3.4 million, up 3% quarter over quarter and 36% year over year, while net income attributable to shareholders was $0.8 million and EPS $0.01, down sharply from $0.05 in Q1 and $0.03 in Q2 2025, reflecting a higher share count. Segment revenue grew 29% year over year in North Asia and 17% in Thailand, but declined 7% in ROW. Copper unit volume fell 3% sequentially and 7% year over year. Cash and cash equivalents were $64.6 million, down $8.6 million sequentially as operating cash flow swung to an $18.0 million outflow, driven by higher raw material costs and inventory build; financing inflow of $10.5 million came from additional short-term borrowings.
Positive
- Revenue $136.6m, up 4% Q/Q and 8% Y/Y in Q2 FY2026
- Gross profit $11.0m, up 28% Y/Y; margin expanded to 8.1% from 6.8%
- Operating profit $3.4m in Q2, up 36% Y/Y
- North Asia revenue $29.5m, up 23% Q/Q and 29% Y/Y
- Thailand revenue $51.7m, up 17% Y/Y and 1% Q/Q
- Six‑month 2026 profit to shareholders $2.2m vs loss of $0.9m in 2025
Negative
- EPS $0.01 in Q2, down 80% Q/Q and 67% Y/Y
- Net income to shareholders $0.8m, down from $1.4m in Q1 2026
- Copper unit volume down 3% Q/Q and 7% Y/Y
- Operating cash flow −$18.0m in Q2 vs +$1.6m prior quarter
- Cash balance $64.6m, down $8.6m Q/Q amid higher supplier payments
- ROW segment revenue $55.4m, down 1% Q/Q and 7% Y/Y
News Explained
APWC’s Q2 results are reported, with EPS based on
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | Q1 earnings results | Positive | -0.7% | Revenue and margin growth accompanied by lower sequential EPS and a negative reaction. |
| Apr 29 | Q4/FY2025 earnings | Positive | -0.6% | Revenue and EPS growth contrasted with lower operating profit and a negative reaction. |
| Nov 14 | Q3 earnings results | Positive | -2.1% | Revenue, volume, margin, and operating-profit gains were followed by a negative reaction. |
| Aug 14 | Q2 earnings results | Positive | +13.4% | Broad segment growth and substantial EPS improvement accompanied a positive reaction. |
| Apr 02 | FY2024 earnings results | Neutral | +1.3% | Revenue and operating profit growth outweighed lower net income and EPS in reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The three latest tag-matched earnings releases had negative 24-hour reactions, while two earlier releases were positive.
Key Terms
fvoci financial
net impairment loss on financial and contract assets financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Quarterly revenue of
$136.6 million , up4% from Q1 and up8% from a year ago. - Quarterly operating profit was
$3.4 million , up36% from a year ago.
TAIPEI, Taiwan, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited ("APWC" or the "Company") (NASDAQ: APWC) today announced its financial results for the second quarter ended June 30, 2026.
Quarterly revenue was
For the quarter, earnings per share were
Copper unit volume, measured by the tonnage of copper contained in the wire and cable sold, decreased
Q2 Fiscal 2026 Summary
| Q2 Financial Results | |||||||||||||
| ($ in millions, except earnings per share) | Q2 FY2026 | Q1 FY2026 | Q2 FY2025 | Q/Q | Y/Y | ||||||||
| Revenues | $ | 136.6 | $ | 130.8 | $ | 126.9 | 4 | % | 8 | % | |||
| Gross profit | $ | 11.0 | $ | 10.7 | $ | 8.6 | 3 | % | 28 | % | |||
| Operating expenses | $ | 7.7 | $ | 7.6 | $ | 6.4 | 1 | % | 20 | % | |||
| Operating profit | $ | 3.4 | $ | 3.3 | $ | 2.5 | 3 | % | 36 | % | |||
| Net income | $ | 0.8 | $ | 1.4 | $ | 0.6 | (43 | )% | 33 | % | |||
| EPS1 | $ | 0.01 | $ | 0.05 | $ | 0.03 | (80 | )% | (67 | )% | |||
| Revenue by Reportable Segments | |||||||||||||
| ($ in millions) | Q2 FY2026 | Q1 FY2026 | Q2 FY2025 | Q/Q | Y/Y | ||||||||
| North Asia | $ | 29.5 | $ | 23.9 | $ | 22.8 | 23 | % | 29 | % | |||
| ROW | $ | 55.4 | $ | 55.7 | $ | 59.8 | (1 | )% | (7 | )% | |||
| Thailand | $ | 51.7 | $ | 51.2 | $ | 44.3 | 1 | % | 17 | % | |||
| Total | $ | 136.6 | $ | 130.8 | $ | 126.9 | 4 | % | 8 | % | |||
1Basic and diluted earnings per share (EPS) for the three-month periods ended June 30, 2026, March 31, 2026, and June 30, 2025 are calculated based on weighted average common shares outstanding of 41,232,454, 28,382,902, and 20,616,227, respectively. The increase in weighted average shares in 2026 reflects the full-period impact of the new common shares issued in February 2026. Numerators for all periods reflect profit attributable to the equity holders of the parent.
Revenue
Revenue for the second quarter was
North Asia revenue for the second quarter was
Thailand's revenue for the second quarter was up
ROW revenue for the second quarter was down
Gross Profit
Gross profit margin for the second quarter was
Expenses
Total selling, general, and administrative expenses increased
Balance Sheet and Cash Flow
Cash and cash equivalents were
Trade receivables for the second quarter rose to
Inventory of
Cash flow from operating activities generated an outflow 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 operating subsidiaries. Through these subsidiaries, the Company is 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 various 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 the 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 applicable securities laws. The Company assumes no 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 | For the six months | ||||||||||||||||
| ended June 30, | ended June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||||
| Revenue | $ | 136,648 | $ | 126,906 | $ | 267,494 | $ | 227,493 | |||||||||
| Cost of sales | (125,636 | ) | (118,298 | ) | (245,808 | ) | (215,220 | ) | |||||||||
| Gross profit | 11,012 | 8,608 | 21,686 | 12,273 | |||||||||||||
| Other operating income | 395 | 192 | 512 | 227 | |||||||||||||
| Selling, general and administrative expenses | (7,687 | ) | (6,434 | ) | (15,332 | ) | (12,860 | ) | |||||||||
| Other operating expenses | (334 | ) | 51 | (334 | ) | (1 | ) | ||||||||||
| Net impairment loss on financial and contract assets | 23 | 65 | 152 | 106 | |||||||||||||
| Operating profit | 3,409 | 2,482 | 6,684 | (255 | ) | ||||||||||||
| Finance costs | (449 | ) | (563 | ) | (799 | ) | (977 | ) | |||||||||
| Finance income | 284 | 44 | 303 | 66 | |||||||||||||
| Gain on disposal of investment | (13 | ) | — | 1,031 | — | ||||||||||||
| Exchange gain | 230 | 331 | 592 | 605 | |||||||||||||
| Other income | 46 | (92 | ) | 119 | 106 | ||||||||||||
| Other expense | 61 | (80 | ) | (166 | ) | (80 | ) | ||||||||||
| Profit before tax | 3,567 | 2,121 | 7,763 | (536 | ) | ||||||||||||
| Income tax expense | (1,370 | ) | (762 | ) | (2,510 | ) | (401 | ) | |||||||||
| Profit for the period | $ | 2,197 | $ | 1,359 | $ | 5,253 | $ | (937 | ) | ||||||||
| Attributable to: | |||||||||||||||||
| Equity holders of the parent | 781 | 578 | 2,211 | (901 | ) | ||||||||||||
| Non-controlling interests | 1,416 | 781 | 3,042 | (36 | ) | ||||||||||||
| 2,197 | 1,359 | 5,253 | (937 | ) | |||||||||||||
| Basic and diluted profit per share | $ | 0.01 | $ | 0.03 | $ | 0.06 | $ | (0.04 | ) | ||||||||
| Basic and diluted weighted average common shares outstanding | 41,232,454 | 20,616,227 | 34,863,953 | 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 | For the six months | ||||||||||||||||
| ended June 30, | ended June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||||
| Profit for the period | 2,197 | 1,359 | 5,253 | (937 | ) | ||||||||||||
| Other comprehensive income | |||||||||||||||||
| Other comprehensive income to be reclassified to profit or loss in subsequent periods: | |||||||||||||||||
| Exchange differences on translation of foreign operations, net of tax of nil | (547 | ) | 8,916 | (4,745 | ) | 11,046 | |||||||||||
| (547 | ) | 8,916 | (4,745 | ) | 11,046 | ||||||||||||
| 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 | 63 | (12 | ) | (817 | ) | (18 | ) | ||||||||||
| Income tax effect | (13 | ) | 3 | 163 | 4 | ||||||||||||
| 50 | (9 | ) | (654 | ) | (14 | ) | |||||||||||
| Re-measuring losses on defined benefit plans | 12 | (43 | ) | 71 | (54 | ) | |||||||||||
| Income tax effect | (2 | ) | 9 | (14 | ) | 11 | |||||||||||
| 10 | (34 | ) | 57 | (43 | ) | ||||||||||||
| Other comprehensive income for the year, net of tax | (487 | ) | 8,873 | (5,342 | ) | 10,989 | |||||||||||
| Total comprehensive income for the period, net of tax | 1,710 | 10,232 | (89 | ) | 10,052 | ||||||||||||
| Attributable to: | |||||||||||||||||
| Equity holders of the parent | 853 | 7,022 | 280 | 7,119 | |||||||||||||
| Non-controlling interests | 857 | 3,210 | (369 | ) | 2,933 | ||||||||||||
| $ | 1,710 | $ | 10,232 | $ | (89 | ) | $ | 10,052 | |||||||||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of June 30, 2026 (Unaudited) | As of December 31, 2025 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | 64,584 | 33,163 | |||
| Financial assets at fair value through profit or loss | — | 61 | |||
| Trade receivables | 112,678 | 103,535 | |||
| Other receivables | 227 | 936 | |||
| Contract assets | 11,894 | 7,748 | |||
| Due from related parties | 484 | 3,905 | |||
| Inventories | 171,278 | 151,515 | |||
| Prepayments | 3,491 | 3,118 | |||
| Assets classified as held for sale | 805 | 782 | |||
| Other current assets | 6,192 | 4,336 | |||
| 371,633 | 309,099 | ||||
| Non-current assets | |||||
| Financial assets at fair value through other comprehensive income | 3,301 | 4,161 | |||
| Property, plant and equipment | 51,168 | 53,683 | |||
| Right of use assets | 2,350 | 2,879 | |||
| Investment properties | 512 | 536 | |||
| Intangible assets | 44 | 65 | |||
| Investments in associates | 830 | 875 | |||
| Deferred tax assets | 5,731 | 6,169 | |||
| Other non-current assets | 4,619 | 4,228 | |||
| 68,555 | 72,596 | ||||
| Total assets | 440,188 | 381,695 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of June 30, 2026 (Unaudited) | As of December 31, 2025 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Liabilities | |||||
| Current liabilities | |||||
| Interest-bearing loans and borrowings | 58,455 | 41,828 | |||
| Trade and other payables | 54,760 | 58,184 | |||
| Due to related parties | 17,180 | 9,590 | |||
| Financial liabilities at fair value through profit or loss | 56 | — | |||
| Accruals | 6,060 | 11,079 | |||
| Current tax liabilities | 2,196 | 644 | |||
| Employee benefit liabilities | 1,124 | 2,507 | |||
| Financial lease liabilities | 1,026 | 1,113 | |||
| Other current liabilities | 14,870 | 6,877 | |||
| 155,727 | 131,822 | ||||
| Non-current liabilities | |||||
| Interest-bearing loans and borrowings | — | 510 | |||
| Employee benefit liabilities | 7,621 | 6,524 | |||
| Lease liabilities | 1,038 | 1,473 | |||
| Deferred tax liabilities | 4,511 | 4,239 | |||
| Other non-current liabilities | 828 | 175 | |||
| 13,998 | 12,921 | ||||
| Total liabilities | 169,725 | 144,743 | |||
| Equity | |||||
| Issued capital | 413 | 206 | |||
| Additional paid-in capital | 151,973 | 118,103 | |||
| Treasury shares | (38 | ) | (38 | ) | |
| Retained earnings | 67,298 | 65,087 | |||
| Other components of equity | (14,997 | ) | (13,066 | ) | |
| Equity attributable to equity holders of the parent | 204,649 | 170,292 | |||
| Non-controlling interests | 65,814 | 66,660 | |||
| Total equity | 270,463 | 236,952 | |||
| Total liabilities and equity | 440,188 | 381,695 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
| For the three months | For the six months | ||||||||||||||
| ended June 30, | ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||
| Net cash used in operating activities | $ | (17,963 | ) | $ | (15,454 | ) | $ | (16,392 | ) | $ | (17,462 | ) | |||
| Net cash used in investing activities | (1,136 | ) | (919 | ) | (2,066 | ) | (2,966 | ) | |||||||
| Net cash provided by financing activities | 10,482 | 11,577 | 51,066 | 19,612 | |||||||||||
| Effect of exchange rate | (17 | ) | 1,508 | (1,187 | ) | 1,749 | |||||||||
| Net decrease in cash and cash equivalents | (8,634 | ) | (3,288 | ) | 31,421 | 933 | |||||||||
| Cash and cash equivalents at beginning of period | 73,218 | 38,256 | 33,163 | 34,035 | |||||||||||
| Cash and cash equivalents at end of period | $ | 64,584 | $ | 34,968 | $ | 64,584 | $ | 34,968 | |||||||
