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SIFCO (NYSE: SIF) swings to Q2 profit as sales and EBITDA surge

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

SIFCO Industries reported a sharp turnaround for the second quarter of fiscal 2026, with net sales rising 39.0% to $26.4 million and net income from continuing operations of $2.7 million, or $0.43 per diluted share, versus a prior-year loss of $1.3 million, or $(0.22) per share. EBITDA improved to $3.7 million and Adjusted EBITDA to $4.8 million, compared with $0.4 million and $(0.2) million a year earlier.

For the first half of fiscal 2026, net sales grew 26.3% to $50.4 million, and net income from continuing operations reached $4.4 million, or $0.72 per diluted share, versus a loss of $3.7 million, or $(0.62) per share, in fiscal 2025. Management highlighted efficiency gains, cost control, and strong product demand supporting backlog, even as skilled labor availability remains a constraint.

Positive

  • Strong revenue growth and profitability turnaround: Q2 fiscal 2026 net sales rose 39.0% to $26.4 million, and income from continuing operations reached $2.7 million versus a $1.3 million loss a year earlier, with first-half results also reversing prior-year losses.
  • Significant EBITDA and Adjusted EBITDA improvement: Q2 EBITDA increased to $3.7 million and Adjusted EBITDA to $4.8 million, while first-half EBITDA and Adjusted EBITDA rose to $7.3 million and $8.7 million from negative levels in fiscal 2025.

Negative

  • None.

Insights

SIFCO posts strong sales growth and swings back to solid profitability.

SIFCO Industries delivered a major improvement in operating performance. Q2 fiscal 2026 net sales increased 39.0% to $26.4 million, and income from continuing operations reached $2.7 million after a loss a year earlier. EBITDA and Adjusted EBITDA rose to $3.7 million and $4.8 million, respectively, from very low or negative levels.

For the first six months, net sales climbed to $50.4 million and income from continuing operations to $4.4 million, reversing prior-year losses. The balance sheet shows total assets of $78.2 million as of March 31, 2026, with the revolver balance lower than at September 30, 2025, indicating reduced reliance on that borrowing line.

Management cites gains from engineering, quality, and continuous improvement, along with stronger demand and backlog in its aerospace and energy markets. They also note ongoing skilled labor constraints and reference typical risks and uncertainties in their SEC filings, so the sustainability of these results will be shaped by execution and market conditions disclosed in future reports.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 net sales $26.4 million Three months ended March 31, 2026; up 39.0% vs. 2025
Q2 2026 income from continuing operations $2.7 million Three months ended March 31, 2026; vs. $1.3 million loss in 2025
First half 2026 net sales $50.4 million Six months ended March 31, 2026; up 26.3% vs. 2025
First half 2026 income from continuing operations $4.4 million Six months ended March 31, 2026; vs. $3.7 million loss in 2025
Q2 2026 EBITDA $3.7 million Three months ended March 31, 2026; vs. $0.4 million in 2025
Q2 2026 Adjusted EBITDA $4.8 million Three months ended March 31, 2026; vs. $(0.2) million in 2025
Total assets $78.2 million As of March 31, 2026 on consolidated balance sheet
Revolver balance $2.8 million As of March 31, 2026; down from $8.0 million at September 30, 2025
Adjusted EBITDA financial
"Adjusted EBITDA in the second quarter of fiscal 2026 was $4.8 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
discontinued operations financial
"Results from discontinued operations for the second quarter of fiscal 2026 was $0.0 million"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
LIFO financial
"Represents the change in the reserve for inventories for which cost is determined using the last-in, first-out (“LIFO”) method."
An accounting method that assumes the most recently acquired inventory items are sold first, so the newest costs flow into cost of goods sold while older costs stay on the balance sheet. Imagine a stack of boxes where you take from the top; when prices are rising, that top-first approach produces higher reported costs and lower reported profits, which can reduce taxes and change profit margins. Investors watch LIFO because it affects reported earnings, tax liabilities, and how comparable a company’s performance is to peers.
forward-looking statements regulatory
"Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
contract assets financial
"Contract assets | 12,216 | | | 10,560"
Contract assets are amounts a company has earned by doing work or delivering goods under a customer agreement but has not yet billed or collected because certain contract conditions remain. Think of it as completed work sitting in a company’s toolbox waiting for an invoice trigger. For investors, growing contract assets signal future cash and revenue potential but also raise questions about timing, cash collection risk and the real strength of reported sales.
operating lease right-of-use assets financial
"Operating lease right-of-use assets, net | 12,052 | | | 12,543"
An operating lease right-of-use (ROU) asset is an accounting entry that shows the value of a leased item you have the legal right to use—like a building, vehicle, or equipment—recorded on a company’s balance sheet along with the corresponding lease obligation. Investors care because it adds to reported assets and liabilities, changing measures like leverage and return on assets much like bringing a long-term rental onto the company’s financial snapshot, which can affect credit terms and valuation.
Net sales $26.4 million +39.0% vs. Q2 fiscal 2025
Income from continuing operations $2.7 million vs. $1.3 million loss in Q2 fiscal 2025
First half net sales $50.4 million +26.3% vs. first half fiscal 2025
First half income from continuing operations $4.4 million vs. $3.7 million loss in first half fiscal 2025
Understanding 8-K Material Events →
FALSE000009016800000901682026-05-082026-05-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) – May 8, 2026
  
SIFCO Industries, Inc.
(Exact name of registrant as specified in its charter)
 
Ohio
1-5978
34-0553950
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
970 East 64th Street, Cleveland Ohio
44103
(Address of principal executive offices)
(ZIP Code)
Registrant’s telephone number, including area code: (216) 881-8600
N.A.
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐  
Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common SharesSIFNYSE American



Item 2.02
Results of Operations and Financial Condition.
On May 8, 2026, SIFCO Industries, Inc. (the "Company" or "SIFCO") issued a press release announcing its financial results for its second quarter and six months ended March 31, 2026. A copy of this press release is furnished with this Report as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this item and in the accompanying exhibit shall not be deemed filed by SIFCO for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such information will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that SIFCO specifically incorporates it by reference.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits
99.1
Earnings Press Release dated May 8, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SIFCO Industries, Inc.
(Registrant)
Date: May 8, 2026
/s/ Eric B. Shultz
Eric B. Shultz
Chief Financial Officer
(Principal Financial Officer)
 
    

Exhibit 99.1
SIFCO Industries, Inc. (“SIFCO”) Announces
Second Quarter and First Half of Fiscal 2026 Financial Results
Cleveland — SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its second quarter and first half of fiscal 2026, which ended March 31, 2026.
Second Quarter Results
•Net sales in the second quarter of fiscal 2026 increased 39.0% to $26.4 million, compared with $19.0 million for the same period in fiscal 2025.
•Net income from continuing operations for the second quarter of fiscal 2026 was $2.7 million, or $0.43 per diluted share, compared with net loss of $1.3 million, or $(0.22) per diluted share, in the second quarter of fiscal 2025. Results from discontinued operations for the second quarter of fiscal 2026 was $0.0 million, or $0.00 per diluted share, compared with net loss from discontinued operations of $0.1 million, or $(0.01) per diluted share, in the second quarter of fiscal 2025.
•EBITDA was $3.7 million in the second quarter of fiscal 2026, compared with $0.4 million in the second quarter of fiscal 2025.
•Adjusted EBITDA in the second quarter of fiscal 2026 was $4.8 million, compared with Adjusted EBITDA of $(0.2) million in the second quarter of fiscal 2025.
First half Results
•Net sales in the first six months of fiscal 2026 increased 26.3% to $50.4 million, compared with $39.9 million for the same period in fiscal 2025.
•Net income from continuing operations for the first six months of fiscal 2026 was $4.4 million, or $0.72 per diluted share, compared with net loss of $3.7 million, or $(0.62) per diluted share, in the first six months of fiscal 2025. There was no results from discontinued operations for the first six months of fiscal 2026, compared with nominal net income from discontinued operations, or $0.01 per diluted share, in the first six months of fiscal 2025.
•EBITDA was $7.3 million in the first six months of fiscal 2026, compared with $(0.4) million in the first six months of fiscal 2025.
•Adjusted EBITDA in the first six months of fiscal 2026 was $8.7 million, compared with Adjusted EBITDA of $(0.4) million in the first six months of fiscal 2025.

Other Highlights
“Management's continued focus on engineering, quality, and continuous improvement is driving meaningful gains in efficiency, cost control, and throughput. While labor availability for skilled roles remains a constraint, recent hiring, training, and retention initiatives are improving workforce stability and supporting operational progress. Despite ongoing global uncertainty, demand for our products remains strong, driving growth in SIFCO's backlog.”
Use of Non-GAAP Financial Measures
The Company uses certain non-GAAP measures in this release. EBITDA and Adjusted EBITDA are non-GAAP financial measures and are intended to serve as supplements to results provided in accordance with accounting principles generally accepted in the United States. SIFCO Industries, Inc. believes that such information provides an additional measurement and consistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in this news release.
Forward-Looking Language
Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions, competition and other uncertainties the Company, its customers, and the industry in which they operate have experienced and continue to experience, detailed from


time to time in the Company’s Securities and Exchange Commission filings. For a discussion of such risk factors and uncertainties, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended September 30, 2025 and other reports filed by the Company with the Securities & Exchange Commission.
The Company’s Form 10-K for the year ended September 30, 2025 and other reports filed with the Securities & Exchange Commission can be accessed through the Company’s website: www.sifco.com, or on the Securities and Exchange Commission’s website: www.sec.gov.
SIFCO Industries, Inc. is engaged in the production of forgings and machined components primarily for the aerospace and energy markets. The processes and services include forging, heat-treating, coating, and machining.


sifcoa11a.jpg
Consolidated Condensed Statements of Operations
(Amounts in thousands, except per share data)
(Unaudited)
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
Net sales$26,444 $19,027 $50,417 $39,910 
Cost of goods sold20,783 17,457 39,567 37,412 
Gross profit5,661 1,570 10,850 2,498 
Selling, general and administrative expenses2,985 2,351 5,631 5,191 
Loss (gain) on disposal of operating assets 15 — (5)— 
Operating profit (loss)2,661 (781)5,224 (2,693)
Interest expense, net304 428 656 897 
Foreign currency exchange (gain) loss, net(1)1 (1)(1)
Other expense, net13 37 29 75 
Income (loss) from continuing operations before income tax expense2,345 (1,247)4,540 (3,664)
Income tax (benefit) expense(306)75 99 80 
Income (loss) from continuing operations2,651 (1,322)4,441 (3,744)
(Loss) income from discontinued operations, net of tax— (70)— 36 
Net income (loss)$2,651 $(1,392)$4,441 $(3,708)
Basic earnings (loss) per share:
Basic earnings (loss) per share from continuing operations$0.44 $(0.22)$0.73 $(0.62)
Basic earnings (loss) per share from discontinued operations— (0.01)— 0.01 
Basic earnings (loss) per share$0.44 $(0.23)$0.73 $(0.61)
Diluted earnings (loss) per share:
Diluted earnings (loss) per share from continuing operations$0.43 $(0.22)$0.72 $(0.62)
Diluted earnings (loss) per share from discontinued operations— (0.01)— 0.01 
Diluted earnings (loss) per share$0.43 $(0.23)$0.72 $(0.61)
Weighted-average number of common shares (basic)6,130 6,068 6,105 6,042 
Weighted-average number of common shares (diluted)6,186 6,068 6,173 6,042 


Consolidated Condensed Balance Sheets
(Amounts in thousands, except per share data)
(Unaudited)
March 31,
2026		September 30,
2025
ASSETS
Current assets:
Cash and cash equivalents$304 $491 
Restricted cash1,081 1,553 
Receivables, net of allowance for credit losses of $235 and $151, respectively
19,159 16,103 
Contract assets12,216 10,560 
Inventories, net6,929 4,192 
Prepaid expenses and other current assets2,529 2,192 
Total current assets42,218 35,091 
Property, plant and equipment, net19,951 21,794 
Operating lease right-of-use assets, net12,052 12,543 
Goodwill3,493 3,493 
Other assets481 473 
Total assets$78,195 $73,394 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt, net of unamortized debt issuance costs$2,322 $2,592 
Revolver2,764 7,969 
Short-term operating lease liabilities998 959 
Accounts payable7,466 5,796 
Contract liabilities6,229 1,784 
Accrued liabilities3,479 3,140 
Total current liabilities23,258 22,240 
Long-term finance lease, net of short-term27 51 
Long-term operating lease liabilities, net of short-term11,720 12,230 
Deferred income taxes, net175 163 
Pension liability970 1,206 
Other long-term liabilities603 619 
Commitments and Contingencies
Shareholders’ equity:
Serial preferred shares, no par value, authorized 1,000 shares; zero shares issued and outstanding at March 31, 2026 and September 30, 2025
— — 
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 6,254 at March 31, 2026 and 6,180 at September 30, 2025
6,254 6,180 
Additional paid-in capital11,901 11,892 
Retained earnings21,593 17,152 
Accumulated other comprehensive income1,694 1,661 
Total shareholders’ equity41,442 36,885 
Total liabilities and shareholders’ equity$78,195 $73,394 
Non-GAAP Financial Measures
Presented below is certain financial information based on the Company’s EBITDA and Adjusted EBITDA. References to “EBITDA” mean earnings (losses) from continuing operations before interest, taxes, depreciation and amortization, and references to “Adjusted EBITDA” mean EBITDA plus, as applicable for each relevant period, certain adjustments as set forth in the reconciliations of net income to EBITDA and Adjusted EBITDA.


Neither EBITDA nor Adjusted EBITDA is a measurement of financial performance under generally accepted accounting principles in the United States of America (“GAAP”). The Company presents EBITDA and Adjusted EBITDA because management believes that they are useful indicators for evaluating operating performance, including the Company’s ability to incur and service debt and it uses EBITDA to evaluate prospective acquisitions. Although the Company uses EBITDA and Adjusted EBITDA for the reasons noted above, the use of these non-GAAP financial measures as analytical tools has limitations. Therefore, reviewers of the Company’s financial information should not consider them in isolation, or as a substitute for analysis of the Company’s results of operations as reported in accordance with GAAP. Some of these limitations include:
•Neither EBITDA nor Adjusted EBITDA reflects the interest expense or the cash requirements necessary to service interest payments on indebtedness;
•Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and neither EBITDA nor Adjusted EBITDA reflects any cash requirements for such replacements;
•The omission of the amortization expense associated with the Company’s intangible assets further limits the usefulness of EBITDA and Adjusted EBITDA; and
•Neither EBITDA nor Adjusted EBITDA includes the payment of taxes, which is a necessary element of operations.
Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to the Company to invest in the growth of its businesses. Management compensates for these limitations by not viewing EBITDA or Adjusted EBITDA in isolation and specifically by using other GAAP measures, such as net income (loss), net sales, and operating income (loss), to measure operating performance. Neither EBITDA nor Adjusted EBITDA is a measurement of financial performance under GAAP, and neither should be considered as an alternative to net income (loss) or cash flow from operations determined in accordance with GAAP. The Company’s calculation of EBITDA and Adjusted EBITDA may not be comparable to the calculation of similarly titled measures reported by other companies.
The following table sets forth a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA:
Three Months Ended
March 31,		Six Months Ended
March 31,
Dollars in thousands2026202520262025
Net income (loss)$2,651 $(1,392)$4,441 $(3,708)
Less: (Loss) income from discontinued operations, net of tax— (70)— 36 
Income (loss) from continuing operations2,651 (1,322)4,441 (3,744)
Adjustments:
Depreciation and amortization expense1,041 1,189 2,126 2,370 
Interest expense, net304 428 656 897 
Income tax (benefit) expense(306)75 99 80 
EBITDA3,690 370 7,322 (397)
Adjustments:
Foreign currency exchange (gain) loss, net (1)
(1)1 (1)(1)
Other expense, net (2)
13 37 29 75 
Loss (gain) on disposal of assets (3)
15 — (5)— 
Non-recurring severance expense adjustments (4)
— 3 — (19)
Equity compensation (4)
77 67 143 88 
Transaction-related expense adjustments (5)
— 1 — (16)
LIFO impact (6)
970 (637)1,182 (136)
Adjusted EBITDA$4,764 $(158)$8,670 $(406)
(1)Represents the gain or loss from changes in the exchange rates between the functional currency and the foreign currency in which the transaction is denominated.
(2)Represents miscellaneous non-operating income or expense, such as pension costs, transaction related expense adjustments, and severance.
(3)Represents the difference between the proceeds from the sale of operating equipment and the carrying value shown on the Company's books.
(4)Represents the equity-based compensation expense recognized by the Company under the 2016 Plan due to granting of awards, awards not vesting and/or forfeitures and executive severance.
(5)Represents credits related to transaction-related legal fees incurred primarily in connection with the unsuccessful attempt in which the Company was the acquisition target.
(6)Represents the change in the reserve for inventories for which cost is determined using the last-in, first-out (“LIFO”) method.


Reference to the above activities can be found in the consolidated financial statements included in Item 8 of the Company's Annual Report on Form 10-K.
Contacts
SIFCO Industries, Inc.
Eric B. Shultz, 216-881-8600
www.sifco.com

Source: View Original Filing on SEC EDGAR

FAQ

How did SIFCO (SIF) perform in Q2 fiscal 2026?

SIFCO reported a strong Q2 turnaround, with net sales up 39.0% to $26.4 million. Income from continuing operations was $2.7 million, or $0.43 per diluted share, compared with a $1.3 million loss, or $(0.22) per share, a year earlier.

What were SIFCO’s first half fiscal 2026 results?

For the first six months of fiscal 2026, SIFCO generated net sales of $50.4 million, up 26.3%. Income from continuing operations was $4.4 million, or $0.72 per diluted share, compared with a $3.7 million loss, or $(0.62) per share, in fiscal 2025.

How did SIFCO’s EBITDA and Adjusted EBITDA change in Q2 2026?

In Q2 fiscal 2026, SIFCO’s EBITDA rose to $3.7 million from $0.4 million a year earlier. Adjusted EBITDA improved to $4.8 million from $(0.2) million, reflecting stronger operating performance and the impact of the specified non-GAAP adjustments.

What challenges and operational themes did SIFCO highlight?

Management emphasized improvements in engineering, quality, and continuous improvement, leading to efficiency and cost gains. They noted that skilled labor availability remains a constraint, but hiring, training, and retention efforts are helping, while strong demand supports SIFCO’s backlog despite global uncertainty.

What does SIFCO say about its use of non-GAAP measures like Adjusted EBITDA?

SIFCO uses EBITDA and Adjusted EBITDA as supplemental performance indicators, citing usefulness for evaluating operations and debt capacity. The company also outlines limitations, stressing these metrics should not replace GAAP measures such as net income, net sales, or operating income.

What are key balance sheet figures for SIFCO as of March 31, 2026?

As of March 31, 2026, SIFCO reported total assets of $78.2 million. Total current assets were $42.2 million, with receivables of $19.2 million and inventories of $6.9 million. Total shareholders’ equity was $41.4 million, reflecting accumulated earnings and capital.

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