Why Is RF Industries Stock Down Today?
RF Industries reported record fiscal third-quarter sales of $23.96 million, adjusted EPS a cent below estimates and bookings below sales. The stock was 6.25% lower one minute after the 08:00 ET release and 8.36% lower after ten.
- Fiscal third-quarter sales were a record $23.96 million against a $23.28 million estimate; adjusted EPS of $0.19 missed the $0.20 estimate by a cent.
- Bookings of $22.5 million trailed sales for a book-to-bill of 0.94, and backlog fell from $20.0 million to $18.6 million during the quarter.
- The stock fell from $10.88 to $10.20 in the first premarket minute, a 6.25% drop, and was 8.36% lower after ten.
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +10m | +1m % | +10m % |
|---|---|---|---|---|---|---|
| RFIL | 10.88 | 10.88 | 10.20 | 9.97 | -6.25% | -8.36% |
RF Industries stock is down today after its fiscal third-quarter report paired record sales of $23.96 million with adjusted earnings of $0.19 a share, a cent below the $0.20 estimate, and bookings that came in below sales. The stock fell from $10.88 to $10.20 in the first premarket minute after the 08:00:43 ET headline, a 6.25% drop, and was 8.36% lower ten minutes later. As of 12:29 ET the stock was 16.18% below Friday's close, at $8.65.
RF Industries Q3 fiscal 2026 earnings: actual vs estimate
| Q3 FY2026 | Estimate | Q2 FY2026 | Q3 FY2025 | |
|---|---|---|---|---|
| Net sales | $23.96M | $23.28M | $20.7M | $19.8M |
| Adjusted EPS | $0.19 | $0.20 | — | $0.10 |
| GAAP diluted EPS | $0.12 | — | $0.08 | $0.04 |
| Gross margin | 35.6% | — | 35.1% | 34.0% |
| Bookings | $22.5M | — | $26.3M | $24.5M |
| Book-to-bill | 0.94 | — | 1.27 | 1.24 |
| Backlog at quarter end | $18.6M | — | $20.0M | $19.7M |
The quarter ended July 31, 2026. Sales rose 21% from a year earlier and 16% from the second quarter, operating income reached $1.8 million against $720,000 a year earlier, and adjusted EBITDA was $2.7 million against $1.6 million.
Why record revenue met a falling stock
The sales record came partly out of the order book. In the prior-year quarter and in the second quarter RF Industries booked more than it shipped, with book-to-bill ratios of 1.24 and 1.27. In the third quarter bookings of $22.5 million fell short of $23.96 million in sales, a ratio of 0.94, and backlog dropped $1.4 million in three months, from $20.0 million to $18.6 million. A quarter that ships more than it books draws down the orders that fund the next one.
The earnings line was the second soft spot. Adjusted EPS of $0.19 nearly doubled from $0.10 a year earlier and still missed the $0.20 consensus by a cent, while revenue beat by about $0.68 million. The first ten minutes after the release traded 12,444 shares, a thin premarket tape on which a one-cent miss on the headline number was enough to reprice the stock.
What management said on the call
- Backlog had risen to $19.8 million by the date of the call, from $18.6 million at quarter end.
- Fourth-quarter sales are expected to be roughly equal to or above the third quarter, about $24 million.
- Cash rose to $4.5 million and revolver borrowings fell to $5.7 million.
- Growth areas named were small-cell products, direct air cooling, edge data centers, AI infrastructure and aerospace and defense.
How the stock traded after the report
| Time (ET) | Price | Change from before |
|---|---|---|
| Before 08:00 | $10.88 | — |
| 08:01 | $10.20 | -6.25% |
| 08:10 | $9.97 | -8.36% |
| 12:29 (session, vs Friday close) | $8.65 | -16.18% |
The selling continued after the first minute, taking the drop from 6.25% to 8.36% by the ten-minute mark.
Why is RF Industries stock down today?
RF Industries reported record fiscal third-quarter sales of $23.96 million but adjusted EPS of $0.19, a cent below the $0.20 estimate, and bookings below sales. The stock fell 6.25% in the first premarket minute after the 08:00:43 ET release.
What did RF Industries report for Q3 fiscal 2026?
Net sales of $23.96 million, up 21% from $19.8 million a year earlier, adjusted EPS of $0.19, GAAP diluted EPS of $0.12 and a gross margin of 35.6%. Bookings were $22.5 million and backlog ended the quarter at $18.6 million.
Did RF Industries beat earnings estimates?
Revenue beat: $23.96 million against a $23.28 million estimate. Adjusted EPS missed by a cent, at $0.19 against $0.20.
What is RF Industries' backlog?
Backlog was $18.6 million at July 31, 2026, down from $20.0 million at the end of the second quarter. Management said it had risen to $19.8 million by the date of the earnings call.
Sources
-
RF Industries Reports Third Quarter Fiscal Year 2026 Financial Results
— StockTitan
Record net sales of $23.96 million (+21% y/y, +16% q/q), gross margin 35.6% vs 34.0%, operating income $1.8 million vs $720,000, net income $0.12 vs $0.04 per diluted share, adjusted EBITDA $2.7 million vs $1.6 million, backlog $18.6 million on bookings of $22.5 million.
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RF Industries (NASDAQ:RFIL) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS
— MarketBeat
RF Industries reported $0.19 EPS against a $0.20 consensus and revenue of $23.96 million against a $23.28 million estimate.
-
RF Industries expects Q4 sales roughly at or above $24M
— Seeking Alpha
Management expects fourth-quarter sales roughly at or above $24 million.
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