The LGL Group, Inc. Reports First Quarter 2026 Results
Rhea-AI Summary
LGL Group (NYSE American:LGL) reported Q1 2026 revenues of $1.085 million, up 18.2% year over year. Gross margin was 51.0%, down from 52.4%.
The company recorded a net loss of $622,000. Backlog rose 144% to $1.525 million, and cash, equivalents and marketable securities reached $46.7 million.
AI-generated analysis. Not financial advice.
Positive
- Revenues grew 18.2% year over year to $1.085 million
- Backlog increased 144.0% to $1.525 million as of March 31, 2026
- Cash, cash equivalents and marketable securities rose to $46.7 million
- Working capital increased to $46.3 million from $45.4 million
- Book value attributable to common stockholders increased 13.5% year over year to $44.5 million
Negative
- Net loss widened to $622,000 from $6,000 year over year
- Net loss per diluted share declined to $(0.10) from approximately breakeven
- Gross margin decreased to 51.0% from 52.4%
- Book value per share declined 6.5% year over year to $6.81
- Higher materials and components costs pressured profitability
Key Figures
Market Reality Check
Peers on Argus
LGL fell 2.1% while several peers also traded lower: FCUV -13.17%, WATT -9.25%, ASTC -2.12%, suggesting a sector-leaning move rather than a purely idiosyncratic reaction.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 13 | Quarterly earnings | Positive | +6.0% | Q3 2025 earnings with higher net income and strong liquidity. |
| May 15 | Quarterly earnings | Neutral | -3.2% | Q1 2025 results with slight revenue gain but swing to small loss. |
| Apr 01 | Quarterly earnings | Positive | -3.2% | Q4 and full-year 2024 growth in revenue and net income. |
| Nov 13 | Quarterly earnings | Neutral | +2.8% | Q3 2024 revenue growth but lower margins and modest earnings. |
| Aug 13 | Quarterly earnings | Positive | +5.9% | Q2 2024 revenue growth and turnaround to positive earnings. |
Earnings releases have often produced modest moves, with a mix of aligned and divergent reactions to fundamentally positive updates on revenue, margins, and liquidity.
Over the past several quarters, LGL’s earnings releases have featured revenues in the $0.9M–$1.2M range, generally solid gross margins around the 50–60% level, and strong liquidity with cash and marketable securities consistently above $41M. Backlog has fluctuated but showed growth into late 2025. Prior earnings sometimes delivered positive price reactions when profitability improved, and negative reactions when revenue or margin trends softened. Today’s Q1 2026 report, with revenue growth but a wider net loss, fits into this pattern of mixed but generally stable fundamentals.
Historical Comparison
Past earnings releases for LGL led to average moves of ±1.65%, with reactions varying between gains on profit improvement and declines on softer margins or revenue.
Earnings history shows revenue clustered near $1M+, generally strong gross margins, and consistently high cash and marketable securities above $41M, with backlog gradually improving into late 2025.
Market Pulse Summary
This announcement highlights Q1 2026 revenue growth to $1.085M, a sharply higher backlog of $1.525M, and strong cash and securities of $46.7M, alongside a wider net loss of $622k and slightly lower gross margin at 51.0%. Historically, LGL’s earnings have shown stable revenues around the $1M level and robust liquidity. Investors may watch how margins, book value per share, and backlog conversion trend across future quarters.
AI-generated analysis. Not financial advice.
Revenues increased
18.2% to$1,085,000 for the three months ended March 31, 2026 from$918,000 for the three months ended March 31, 2025Backlog increased
$900,000 , or144.0% , to$1,525,000 as of March 31, 2026 from$625,000 as of December 31, 2025Cash and cash equivalents and marketable securities were
$46.7 million as of March 31, 2026 compared to$41.6 million as of December 31, 2025Book value attributable to LGL Group common stockholders per share of
$6.81 as of March 31, 2026 compared to$7.04 as of December 31, 2025 and$7.28 as of March 31, 2025
Orlando, Florida--(Newsfile Corp. - May 11, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL," "LGL Group," or the "Company") announced today its financial results for the first quarter ended March 31, 2026.
"Precise time is the invisible infrastructure behind modern defense technology," said Jason Lamb, LGL Group Chief Executive Officer. "From space-based systems and electronic warfare to signals intelligence, targeting, secure communications, and networked command-and-control, these platforms depend on disciplined timing, synchronization, and frequency control to operate with accuracy, resilience, and trust. Through our ownership of Precise Time and Frequency, LLC, we believe we are positioned to build on that technical foundation, invest behind the business, and grow a technically differentiated platform serving mission-critical defense, aerospace, and communications applications."
| As of and Three Months Ended March 31, | ||||||||||||
| (in thousands, except share data) | 2026 | 2025 | % Change | |||||||||
| U.S. GAAP Financial Measures | ||||||||||||
| Revenues | $ | 1,085 | $ | 918 | 18.2 | |||||||
| Gross margin | ( | |||||||||||
| Net loss | $ | (622) | $ | (6) | (10, | |||||||
| Net loss per diluted share | (0.10) | (0.00) | (8, | |||||||||
| Book value attributable to LGL Group common stockholders | 44,535 | 39,233 | ||||||||||
| Book value attributable to LGL Group common stockholders per share | 6.81 | 7.28 | ( | |||||||||
Results from Operations
Total revenues increased
Net (loss) income available to LGL Group common stockholders was (
Gross Margin
Gross margin was
Backlog
As of March 31, 2026, our order backlog was
Liquidity
Our working capital metrics were as follows:
| (in thousands) | March 31, 2026 | December 31, 2025 | ||||||
| Current assets | $ | 47,516 | $ | 46,324 | ||||
| Less: Current liabilities | 1,211 | 915 | ||||||
| Working capital | $ | 46,305 | $ | 45,409 | ||||
As of March 31, 2026, LGL Group had investments (classified within Cash and cash equivalents and Marketable securities) with a fair value of
Investor Day
The Company will host an Investor Day on Tuesday May 12, 2026, to provide shareholders, analysts and other stakeholders more detailed information on the Company's strategic direction, recent business developments and financial performance, and updates on strategic initiatives. Members of management will also be available to answer investor questions.
The Investor Day will begin at 10:00 a.m. Eastern Time on Tuesday May 12, 2026 at the New York Stock Exchange, located at 11 Wall Street, New York, New York 10005.
About The LGL Group, Inc.
The LGL Group, Inc. ("LGL," "LGL Group," or the "Company") is a holding company engaged in services, merchant investment and manufacturing business activities. Precise Time and Frequency, LLC ("PTF") is a globally positioned producer of industrial Electronic Instruments and commercial products and services. Founded in 2002, PTF operates from our design and manufacturing facility in Wakefield, Massachusetts. Lynch Capital International LLC is focused on the development of value through investments.
LGL Group was incorporated in 1928 under the laws of the State of Indiana, and in 2007, the Company was reincorporated under the laws of the State of Delaware as The LGL Group, Inc. We maintain our executive offices at 2525 Shader Road, Orlando, Florida 32804. Our telephone number is (407) 298-2000. Our Internet address is www.lglgroup.com. LGL Group common stock is traded on the NYSE American under the symbol "LGL".
LGL Group's business strategy is primarily focused on growth through expanding new and existing operations across diversified industries. The Company's engineering and design origins date back to the early 1900s. In 1917, Lynch Glass Machinery Company ("Lynch Glass"), the predecessor of LGL Group, was formed and emerged in the late 1920s as a successful manufacturer of glass-forming machinery. Lynch Glass was then renamed Lynch Corporation ("Lynch") and was incorporated in 1928 under the laws of the State of Indiana. In 1946, Lynch was listed on the "New York Curb Exchange," the predecessor to the NYSE American. The Company has a had a long history of owning and operating various business in the precision engineering, manufacturing, and services sectors.
Cautionary Note Concerning Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company's financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to LGL Group, are intended to identify forward-looking statements.
These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by LGL Group with the Securities and Exchange Commission ("SEC"), including those risks set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 as filed with the SEC on March 30, 2026. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. LGL Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
###
The LGL Group, Inc.
Consolidated Statements of Operations
(Unaudited)
| Three Months Ended March 31, | ||||||||
| (in thousands, except share data) | 2026 | 2025 | ||||||
| Revenues: | ||||||||
| Net sales | $ | 682 | $ | 498 | ||||
| Net investment income | 389 | 417 | ||||||
| Net gains | 14 | 3 | ||||||
| Total revenues | 1,085 | 918 | ||||||
| Expenses: | ||||||||
| Manufacturing cost of sales | 334 | 237 | ||||||
| Engineering, selling and administrative | 1,536 | 640 | ||||||
| Total expenses | 1,870 | 877 | ||||||
| (Loss) income before income taxes | (785 | ) | 41 | |||||
| Income tax (benefit) expense | (180 | ) | 28 | |||||
| Net (loss) income | (605 | ) | 13 | |||||
| Less: Net income attributable to non-controlling interests | 17 | 19 | ||||||
| Net loss attributable to LGL Group common stockholders | $ | (622 | ) | $ | (6 | ) | ||
| Loss per common share attributable to LGL Group common stockholders: | ||||||||
| Basic | $ | (0.10 | ) | $ | (0.00 | ) | ||
| Diluted | $ | (0.10 | ) | $ | (0.00 | ) | ||
| Weighted average shares outstanding: | ||||||||
| Basic | 6,410,166 | 5,352,937 | ||||||
| Diluted | 6,410,166 | 5,352,937 | ||||||
The LGL Group, Inc.
Consolidated Balance Sheets
(Unaudited)
| (in thousands) | March 31, 2026 | December 31, 2025 | ||||||
| Assets: | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 46,646 | $ | 41,514 | ||||
| Marketable securities | 50 | 36 | ||||||
| Accounts receivable, net of reserves of | 284 | 572 | ||||||
| Inventories, net | 278 | 297 | ||||||
| Prepaid expenses and other current assets | 258 | 3,905 | ||||||
| Total current assets | 47,516 | 46,324 | ||||||
| Right-of-use lease assets | 231 | 247 | ||||||
| Intangible assets, net | 9 | 15 | ||||||
| Deferred income tax assets | 367 | 190 | ||||||
| Total assets | $ | 48,123 | $ | 46,776 | ||||
| Liabilities: | ||||||||
| Total current liabilities | 1,211 | 915 | ||||||
| Non-current liabilities | 283 | 296 | ||||||
| Total liabilities | 1,494 | 1,211 | ||||||
| Stockholders' equity: | ||||||||
| Total LGL Group stockholders' equity | 44,535 | 43,488 | ||||||
| Non-controlling interests | 2,094 | 2,077 | ||||||
| Total stockholders' equity | 46,629 | 45,565 | ||||||
| Total liabilities and stockholders' equity | $ | 48,123 | $ | 46,776 | ||||
The LGL Group, Inc.
Segment Results
(Unaudited)
| Three Months Ended March 31, | |||||||||||||||||
| (in thousands) | 2026 | 2025 | $ Change | % Change | |||||||||||||
| Revenues: | |||||||||||||||||
| Electronic Instruments | $ | 682 | $ | 498 | $ | 184 | 36.9 | % | |||||||||
| Merchant Investment | 223 | 247 | (24 | ) | (9.7 | %) | |||||||||||
| Corporate | 180 | 173 | 7 | 4.0 | % | ||||||||||||
| Total revenues | 1,085 | 918 | 167 | 18.2 | % | ||||||||||||
| Expenses: | |||||||||||||||||
| Electronic Instruments | 665 | 479 | 186 | 38.8 | % | ||||||||||||
| Merchant Investment | 125 | 94 | 31 | 33.0 | % | ||||||||||||
| Corporate | 1,080 | 304 | 776 | 255.3 | % | ||||||||||||
| Total expenses | 1,870 | 877 | 993 | 113.2 | % | ||||||||||||
| Income (loss) from operations before income taxes | |||||||||||||||||
| Electronic Instruments | 17 | 19 | (2 | ) | (10.5 | %) | |||||||||||
| Merchant Investment | 98 | 153 | (55 | ) | (35.9 | %) | |||||||||||
| Corporate | (900 | ) | (131 | ) | (769 | ) | (587.0 | %) | |||||||||
| (Loss) income from operations before income taxes | (785 | ) | 41 | (826 | ) | (2,014.6 | %) | ||||||||||
| Income tax (benefit) expense | (180 | ) | 28 | (208 | ) | (742.9 | %) | ||||||||||
| Net (loss) income | (605 | ) | 13 | (618 | ) | (4,753.8 | %) | ||||||||||
| Less: Net income attributable to non-controlling interests | 17 | 19 | (2 | ) | (10.5 | %) | |||||||||||
| Net loss attributable to LGL Group common stockholders | $ | (622 | ) | $ | (6 | ) | $ | (616 | ) | (10,266.7 | %) | ||||||
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296999