APWC Announces Financial Results for the Third Quarter of 2026
Higher sales coincided with lower year-over-year earnings per share and a shift to operating cash outflow.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Asia Pacific Wire & Cable (NASDAQ: APWC) reported third-quarter revenue of $161.7 million, with growth across all reportable segments. Revenue rose 18% sequentially and 26% year over year. Earnings per share were $0.03, up 200% sequentially but down 40% year over year, reflecting a larger share base following February's issuance. Gross profit reached $12.7 million, while gross margin fell to 7.9% from 8.1% in the preceding quarter and 8.7% a year earlier.
Operating profit was $3.5 million, up 3% sequentially but down 8% year over year. Copper volume rose 10% sequentially but fell 13% year over year. Operating cash outflow was $5.9 million, versus an $18.0 million inflow in the preceding quarter. Cash fell $4.4 million sequentially to $60.2 million as receivables and inventory increased. The company said higher copper prices supported sales but pressured margins and increased working capital requirements.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQ3 revenue of $161.7 million rose 18% sequentially and 26% year over year.
- Moderate pointQ3 gross profit of $12.7 million increased 15% sequentially and 14% year over year.
- Moderate pointQ3 net income of $1.2 million rose 50% sequentially and 9% year over year.
- Moderate pointNine-month operating profit increased to $10.231 million from $3.545 million a year earlier.
- Moderate pointNine-month parent-attributable profit rose to $3.444 million from $160,000 a year earlier.
- Moderate pointNine-month investment disposal gain was $1.021 million, versus none a year earlier. 2.1% of market cap
9 minor points
- Minor pointNorth Asia revenue of $33.0 million increased 12% sequentially and 55% year over year.
- Minor pointThailand revenue of $61.9 million increased 20% sequentially and 23% year over year.
- Minor pointRest-of-world revenue of $66.8 million increased 21% sequentially and 18% year over year.
- Minor pointNine-month revenue reached $429.199 million, versus $355.892 million a year earlier.
- Minor pointNine-month gross profit increased to $34.407 million from $23.401 million a year earlier.
- Minor pointNine-month EPS increased to $0.09 from $0.01 a year earlier.
- Minor pointQ3 finance costs decreased to $486,000 from $529,000 a year earlier.
- Minor pointNine-month finance costs decreased to $1.285 million from $1.506 million a year earlier.
- Minor pointQ3 financing cash inflow of $1.5 million compared with $10.5 million sequentially and $10.3 million outflow a year earlier.
Negative
- Moderate pointQ3 EPS of $0.03 fell 40% year over year, despite increasing 200% sequentially.
- Moderate pointQ3 weighted average shares of 41,232,454 versus 20,616,227 a year earlier reflect February issuance dilution.
- Moderate pointQ3 operating profit of $3.5 million fell 8% year over year, despite increasing 3% sequentially.
- Moderate pointCopper unit volume declined 13% year over year, despite increasing 10% sequentially.
- Moderate pointQ3 operating cash outflow of $5.9 million replaced an $18.0 million inflow in the preceding quarter.
- Moderate pointTrade receivables of $131.5 million increased $18.8 million sequentially, reflecting sales growth and collection timing.
- Moderate pointNine-month selling, general and administrative expenses increased to $23.023 million from $20.162 million a year earlier.
- Moderate pointQ3 asset impairment loss increased to $1.896 million from $181,000 a year earlier. 3.9% of market cap
- Moderate pointIncreased borrowings funded raw material purchases as copper prices continued rising.
- Moderate pointNine-month parent-attributable comprehensive income declined to $2.395 million from $8.811 million a year earlier.
5 minor points
- Minor pointQ3 gross margin of 7.9% declined from 8.1% sequentially and 8.7% a year earlier.
- Minor pointCash of $60.2 million declined $4.4 million sequentially, primarily reflecting supplier payments.
- Minor pointInventory of $177.3 million increased $6.0 million sequentially, partly reflecting shipping disruptions and extended ocean transit times.
- Minor pointQ3 operating expenses of $7.7 million rose 5% year over year and were unchanged sequentially.
- Minor pointNine-month asset impairment loss increased to $1.744 million from $75,000 a year earlier.
Key Figures
- Revenue
- $161.7 million; up 26% year over year
- Q3 FY2026
- EPS
- $0.03; up 200% sequentially and down 40% year over year
- Q3 FY2026
- Copper unit volume
- Up 10% sequentially and down 13% year over year
- Q3 FY2026
- Gross profit margin
- 7.9%; versus 8.1% in the preceding quarter and 8.7% in the prior-year period
- Q3 FY2026
- Operating cash flow
- $5.9 million outflow; versus $18.0 million inflow in the prior quarter
- Q3 FY2026
- Cash and cash equivalents
- $60.2 million; down $4.4 million from the preceding quarter
- September 30, 2026
- Trade receivables
- $131.5 million; up $18.8 million from the preceding quarter
- Q3 FY2026
Previous Earnings Reports
-
Revenue, copper unit volume and gross margin increased year over year; EPS was $0.05.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
eps financial
working capital financial
trade receivables financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Quarterly revenue of
$161.7 million , up18% from Q2 and up26% from a year ago. - Quarterly EPS was
$0.03 , up200% from Q2.
TAIPEI, Taiwan, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited ("APWC" or the "Company") (NASDAQ: APWC) today announced its financial results for the third quarter ended September 30, 2026.
Quarterly revenue was
For the quarter, earnings per share were
Copper unit volume, measured by the tonnage of copper contained in the wire and cable sold, increased
“While higher copper prices supported revenue growth, they also presented challenges to product margins and increased working capital requirements. The Company remains committed to maintaining sufficient liquidity and financial flexibility while continuing to pursue its long-term business objectives,” stated the Chief Financial Officer of APWC.
Q3 Fiscal 2026 Summary
| Q3 Financial Results | ||||||||||
| ($ in millions, except earnings per share) | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Q/Q | Y/Y | |||||
| Revenues | $ | 161.7 | $ | 136.6 | $ | 128.4 | 18 | % | 26 | % |
| Gross profit | $ | 12.7 | $ | 11.0 | $ | 11.1 | 15 | % | 14 | % |
| Operating expenses | $ | 7.7 | $ | 7.7 | $ | 7.3 | — | % | 5 | % |
| Operating profit | $ | 3.5 | $ | 3.4 | $ | 3.8 | 3 | % | (8) % | |
| Net income | $ | 1.2 | $ | 0.8 | $ | 1.1 | 50 | % | 9 | % |
| EPS1 | $ | 0.03 | $ | 0.01 | $ | 0.05 | 200 | % | (40) % | |
| Revenue by Reportable Segments | ||||||||||
| ($ in millions) | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Q/Q | Y/Y | |||||
| North Asia | $ | 33.0 | $ | 29.5 | $ | 21.3 | 12 | % | 55 | % |
| ROW | $ | 66.8 | $ | 55.4 | $ | 56.8 | 21 | % | 18 | % |
| Thailand | $ | 61.9 | $ | 51.7 | $ | 50.3 | 20 | % | 23 | % |
| Total | $ | 161.7 | $ | 136.6 | $ | 128.4 | 18 | % | 26 | % |
| 1Basic and diluted earnings per share (EPS) for the three-month periods ended September 30, 2026, June 30, 2026, and September 30, 2025 are calculated based on weighted average common shares outstanding of 41,232,454, 41,232,454, 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 third quarter was
North Asia revenue for the third quarter was
Thailand's revenue grew significantly in the third quarter, up
ROW revenue for the third quarter was up
Gross Profit
Gross profit margin for the third quarter was
Expenses
Total selling, general, and administrative expenses increased
Balance Sheet and Cash Flow
Cash and cash equivalents were
Trade receivables for the third 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 principally 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 | |||||||||||||||||
| For the three months | For the nine months | ||||||||||||||||
| ended September 30, | ended September 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||||
| Revenue | $ | 161,705 | $ | 128,399 | $ | 429,199 | $ | 355,892 | |||||||||
| Cost of sales | (148,984 | ) | (117,271 | ) | (394,792 | ) | (332,491 | ) | |||||||||
| Gross profit | 12,721 | 11,128 | 34,407 | 23,401 | |||||||||||||
| Other operating income | 412 | 155 | 924 | 382 | |||||||||||||
| Selling, general and administrative expenses | (7,691 | ) | (7,302 | ) | (23,023 | ) | (20,162 | ) | |||||||||
| Other operating expenses | 1 | — | (333 | ) | (1 | ) | |||||||||||
| Net impairment loss on financial and contract assets | (1,896 | ) | (181 | ) | (1,744 | ) | (75 | ) | |||||||||
| Operating profit | 3,547 | 3,800 | 10,231 | 3,545 | |||||||||||||
| Finance costs | (486 | ) | (529 | ) | (1,285 | ) | (1,506 | ) | |||||||||
| Finance income | 259 | 41 | 562 | 107 | |||||||||||||
| Share of loss of associates | — | — | (1 | ) | (1 | ) | |||||||||||
| Gain on disposal of investment | (10 | ) | — | 1,021 | — | ||||||||||||
| Exchange gain | 161 | 69 | 753 | 674 | |||||||||||||
| Other income | 238 | 146 | 357 | 252 | |||||||||||||
| Other expense | 166 | 49 | — | (31 | ) | ||||||||||||
| Profit before tax | 3,875 | 3,576 | 11,638 | 3,040 | |||||||||||||
| Income tax expense | (843 | ) | (1,088 | ) | (3,353 | ) | (1,489 | ) | |||||||||
| Profit for the period | $ | 3,032 | $ | 2,488 | $ | 8,285 | $ | 1,551 | |||||||||
| Attributable to: | |||||||||||||||||
| Equity holders of the parent | 1,233 | 1,061 | 3,444 | 160 | |||||||||||||
| Non-controlling interests | 1,799 | 1,427 | 4,841 | 1,391 | |||||||||||||
| 3,032 | 2,488 | 8,285 | 1,551 | ||||||||||||||
| Basic and diluted profit per share | $ | 0.03 | $ | 0.05 | $ | 0.09 | $ | 0.01 | |||||||||
| Basic and diluted weighted average common shares outstanding | 41,232,454 | 20,616,227 | 37,003,484 | 20,616,227 | |||||||||||||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||||||||||||
| For the three months | For the nine months | ||||||||||||||||
| ended September 30, | ended September 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||||
| Profit for the period | 3,032 | 2,488 | 8,285 | 1,551 | |||||||||||||
| 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 | 328 | 695 | (4,417 | ) | 11,741 | ||||||||||||
| 328 | 695 | (4,417 | ) | 11,741 | |||||||||||||
| 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 | (52 | ) | 558 | (869 | ) | 540 | |||||||||||
| Income tax effect | 11 | (112 | ) | 174 | (108 | ) | |||||||||||
| (41 | ) | 446 | (695 | ) | 432 | ||||||||||||
| Re-measuring losses on defined benefit plans | 13 | (6 | ) | 84 | (60 | ) | |||||||||||
| Income tax effect | (3 | ) | 1 | (17 | ) | 12 | |||||||||||
| 10 | (5 | ) | 67 | (48 | ) | ||||||||||||
| Other comprehensive income for the year, net of tax | 297 | 1,136 | (5,045 | ) | 12,125 | ||||||||||||
| Total comprehensive income for the period, net of tax | 3,329 | 3,624 | 3,240 | 13,676 | |||||||||||||
| Attributable to: | |||||||||||||||||
| Equity holders of the parent | 2,115 | 1,692 | 2,395 | 8,811 | |||||||||||||
| Non-controlling interests | 1,214 | 1,932 | 845 | 4,865 | |||||||||||||
| $ | 3,329 | $ | 3,624 | $ | 3,240 | $ | 13,676 | ||||||||||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||
| CONSOLIDATED BALANCE SHEETS | |||
| As of September 30, 2026 (Unaudited) | As of December 31, 2025 (Audited) | ||
| US$'000 | US$'000 | ||
| Assets | |||
| Current assets | |||
| Cash and cash equivalents | 60,160 | 33,163 | |
| Financial assets at fair value through profit or loss | 46 | 61 | |
| Trade receivables | 131,502 | 103,535 | |
| Other receivables | 498 | 936 | |
| Contract assets | 14,992 | 7,748 | |
| Due from related parties | 284 | 3,905 | |
| Inventories | 177,325 | 151,515 | |
| Prepayments | 3,175 | 3,118 | |
| Assets classified as held for sale | 815 | 782 | |
| Other current assets | 6,579 | 4,336 | |
| 395,376 | 309,099 | ||
| Non-current assets | |||
| Financial assets at fair value through other comprehensive income | 3,242 | 4,161 | |
| Property, plant and equipment | 50,400 | 53,683 | |
| Right of use assets | 2,475 | 2,879 | |
| Investment properties | 508 | 536 | |
| Intangible assets | 33 | 65 | |
| Investments in associates | 822 | 875 | |
| Deferred tax assets | 5,976 | 6,169 | |
| Other non-current assets | 4,437 | 4,228 | |
| 67,893 | 72,596 | ||
| Total assets | 463,269 | 381,695 | |
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of September 30, 2026 (Unaudited) | As of December 31, 2025 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Liabilities | |||||
| Current liabilities | |||||
| Interest-bearing loans and borrowings | 60,246 | 41,828 | |||
| Trade and other payables | 66,620 | 58,184 | |||
| Due to related parties | 20,489 | 9,590 | |||
| Financial liabilities at fair value through profit or loss | 6 | — | |||
| Accruals | 6,205 | 11,079 | |||
| Current tax liabilities | 2,728 | 644 | |||
| Employee benefit liabilities | 1,122 | 2,507 | |||
| Financial lease liabilities | 1,204 | 1,113 | |||
| Other current liabilities | 16,575 | 6,877 | |||
| 175,195 | 131,822 | ||||
| Non-current liabilities | |||||
| Interest-bearing loans and borrowings | — | 510 | |||
| Employee benefit liabilities | 7,656 | 6,524 | |||
| Lease liabilities | 992 | 1,473 | |||
| Deferred tax liabilities | 4,801 | 4,239 | |||
| Other non-current liabilities | 836 | 175 | |||
| 14,285 | 12,921 | ||||
| Total liabilities | 189,480 | 144,743 | |||
| Equity | |||||
| Issued capital | 413 | 206 | |||
| Additional paid-in capital | 151,973 | 118,103 | |||
| Treasury shares | (38 | ) | (38 | ) | |
| Retained earnings | 68,531 | 65,087 | |||
| Other components of equity | (14,115 | ) | (13,066 | ) | |
| Equity attributable to equity holders of the parent | 206,764 | 170,292 | |||
| Non-controlling interests | 67,025 | 66,660 | |||
| Total equity | 273,789 | 236,952 | |||
| Total liabilities and equity | 463,269 | 381,695 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
| For the three months | For the nine months | ||||||||||||||
| ended September 30, | ended September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||
| Net cash (used in)/provided by operating activities | $ | (5,879 | ) | $ | 11,585 | $ | (22,271 | ) | $ | (5,877 | ) | ||||
| Net cash provided by/(used in) investing activities | 74 | (992 | ) | (1,992 | ) | (3,958 | ) | ||||||||
| Net cash provided by/(used in) financing activities | 1,456 | (10,262 | ) | 52,522 | 9,350 | ||||||||||
| Effect of exchange rate | (75 | ) | (25 | ) | (1,262 | ) | 1,724 | ||||||||
| Net (decrease)/increase in cash and cash equivalents | (4,424 | ) | 306 | 26,997 | 1,239 | ||||||||||
| Cash and cash equivalents at beginning of period | 64,584 | 34,968 | 33,163 | 34,035 | |||||||||||
| Cash and cash equivalents at end of period | $ | 60,160 | $ | 35,274 | $ | 60,160 | $ | 35,274 | |||||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Why did APWC's third-quarter gross margin decline?
APWC attributed the sequential gross margin decline mainly to product mix and the year-over-year decline mainly to longer public-sector contract execution periods, which reduced the margin benefit from higher copper prices. Gross margin was 7.9%, compared with 8.1% in the preceding quarter and 8.7% a year earlier.
What drove APWC's revenue growth across its segments in the third quarter of 2026?
APWC attributed segment revenue growth to higher copper prices, customer development and contract execution. North Asia benefited from increased export revenue. Thailand benefited from public-sector orders and private-sector manufacturing investment. The rest-of-world segment benefited from progressive completion of public-sector contracts in Singapore and new customer development in Australia.