Richardson Electronics, Ltd. (RELL) Earnings
Richardson Electronics, Ltd. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.07. RELL has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +182.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 9, 2026 | $0.05 | $0.07 | +40.0% | $55M | +4.4% |
| Jan 7, 2026 | $-0.01 | $-0.01 | +0.0% | $52M | -1.6% |
| Oct 8, 2025 | $0.02 | $0.13 | +550.0% | $55M | +9.7% |
| Jul 23, 2025 | $0.05 | $0.12 | +140.0% | $52M | -3.9% |
| Apr 9, 2025 | $0.08 | $0.11 | +37.5% | $54M | -0.1% |
| Jan 7, 2025 | $-0.02 | $-0.05 | -150.0% | $49M | -13.3% |
| Oct 9, 2024 | $0.01 | $0.04 | +499.7% | $54M | +8.7% |
| Jul 24, 2024 | $-0.05 | $0.02 | +140.0% | $47M | -6.7% |
| Apr 10, 2024 | $0.02 | $0.05 | +150.0% | $52M | -6.5% |
| Jan 10, 2024 | $-0.01 | $-0.13 | -1399.4% | $44M | -32.1% |
| Oct 11, 2023 | $0.03 | $0.09 | +200.0% | $53M | +2.9% |
| Jul 19, 2023 | $0.19 | $0.11 | -42.1% | $59M | -4.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · April 9, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Delivered seven consecutive quarters of year-over-year sales growth. - Q3 FY26 total sales $55.5M, up from $53.8M last year; operating income $1.5M vs prior year's $-2.7M loss; gross margin 31.9%, up 90 basis points. - PMT sales up $3.4M y/y to $38.7M, led by EDG and semi-fab equipment. - Green energy solutions' sales below prior year due to timing; Canvas profitable with 32.2% gross margin. - Invested across organization to build depth, technical expertise, and operating performance. - Order activity solid, total backlog at quarter end $151.2M.
Guidance
- Confident in moving forward into final quarter of fiscal year with solid order activity and backlog. - Expect FY26 to be a growth year for PMT and GES with momentum going into FY27. - Board declared regular quarterly cash dividend of $0.06 per common share to be paid in Q4 FY26.
Segment performance
Total sales were $55.5 million. PMT sales increased to $38.7 million, up $3.4 million year over year. Green energy solutions performed in line with expectations but below prior year due to timing of sales. Canvas remained profitable with a 32.2% gross margin despite softer revenue in North America. PMT sales contribution: $38.7 million out of $55.5 million is approximately 69.7%. Green energy solutions: $0.5 million out of $55.5 million is approximately 0.9%. Canvas: $8.0 million out of $55.5 million is approximately 14.4%.
Risks & headwinds
- Uncertainty from developing situation in Iran, related movement in energy markets, and tariff environment. These issues create real uncertainty for many companies but not significant impact on business at this point.
Analyst Q&A
Q: Following the March launch of your LaserSlat Saver solution, can you discuss how customer interest, initial adoption, and order activity has trended?
A: Right now, team mailed out sales tools, getting a lot of requests for more data, in infancy of launch.
Q: Can you provide more detail on the project timing dynamics within GES this quarter and how we should think about revenue contribution and project conversion in the fourth quarter?
A: GES is project-based, backlog strong at ~$40M, $8+M shipped in Q3 pulled from backlog and current POs, confident in Q4 and FY27 growth.
Q: What specific end market or customers or products drove that strength in the PMT backlog growth?
A: PMT backlog growth driven by semiconductor wafer fab customers and RF and wireless components going into SATCOM applications and aerospace and defense.
Q: And just like if you had a rank order, what would be the three most compelling near term, call it over the next 12 months, opportunities you see in the GES segment and why?
A: First, BES opportunities; second, new products from Sweetwater Design Center like 20-newton-meter turbines; third, turbine guards.
Q: Going over your balance sheet, it looks like you've got north of $11 of share in book value. It looks like over 80% of that book value is current assets, net current assets. And obviously, I'm curious on getting to how much of the inventory line is the tallest inventory you've built up and how rapidly do you anticipate converting that inventory into cash?
A: About $45M in TALIS inventory, done with purchases, will see inventory level burn down in Q4 and going forward, found qualified replacement suppliers for comfort.
Q: It sounds very, very positive. I mean, it really feels like you guys are tipping to an inflection point in a dozen areas. And I guess I'll just ask specifically if you could talk about two. One, you know, SemiCapEx has been the historical volatility for you guys. It's been in a tremendous down cycle for a couple years, but you've, you know, industry-wide have seen people like Micron talk about chips sold out for years and massive capital investment by them and others. So what are you seeing on that? How much of it could you play in and how – would that shake out as far as future orders, um, kind of over the next two or three years, if that cycle develops the way some of the larger industry players see. And, and then secondly, um, congratulations on that GE warranty. Um, I was going to ask it to, um, so just to clarify, um, It's approved, it's baked. Have you actually signed off or you still need to? And just for clarity, that does open about 50% of the market that you haven't been able to touch. So just some more color on how meaningful that could be.
A: Regarding semi-CapEx, continued good growth expected, upside longer than past cycles. Regarding GE warranty, product tested, going through final tests, worth millions, but not 50% market increase.
Q: It sounds very, very positive. I mean, it really feels like you guys are tipping to an inflection point in a dozen areas. And I guess I'll just ask specifically if you could talk about two. One, you know, SemiCapEx has been the historical volatility for you guys. It's been in a tremendous down cycle for a couple years, but you've, you know, industry-wide have seen people like Micron talk about chips sold out for years and massive capital investment by them and others. So what are you seeing on that? How much of it could you play in and how – would that shake out as far as future orders, um, kind of over the next two or three years, if that cycle develops the way some of the larger industry players see. And, and then secondly, um, congratulations on that GE warranty. Um, I was going to ask it to, um, so just to clarify, um, It's approved, it's baked. Have you actually signed off or you still need to? And just for clarity, that does open about 50% of the market that you haven't been able to touch. So just some more color on how meaningful that could be.
A: Regarding semi-CapEx, continued good growth expected, upside longer than past cycles. Regarding GE warranty, product tested, going through final tests, worth millions, but not 50% market increase.
Q: Good morning, guys. It sounds very, very positive. I mean, it really feels like you guys are tipping to an inflection point in a dozen areas. And I guess I'll just ask specifically if you could talk about two. One, you know, SemiCapEx has been the historical volatility for you guys. It's been in a tremendous down cycle for a couple years, but you've, you know, industry-wide have seen people like Micron talk about chips sold out for years and massive capital investment by them and others. So what are you seeing on that? How much of it could you play in and how – would that shake out as far as future orders, um, kind of over the next two or three years, if that cycle develops the way some of the larger industry players see. And, and then secondly, um, congratulations on that GE warranty. Um, I was going to ask it to, um, so just to clarify, um, It's approved, it's baked. Have you actually signed off or you still need to? And just for clarity, that does open about 50% of the market that you haven't been able to touch. So just some more color on how meaningful that could be.
A: Regarding semi-CapEx, continued good growth expected, upside longer than past cycles. Regarding GE warranty, product tested, going through final tests, worth millions, but not 50% market increase.
Q: Good morning, guys. It sounds very, very positive. I mean, it really feels like you guys are tipping to an inflection point in a dozen areas. And I guess I'll just ask specifically if you could talk about two. One, you know, SemiCapEx has been the historical volatility for you guys. It's been in a tremendous down cycle for a couple years, but you've, you know, industry-wide have seen people like Micron talk about chips sold out for years and massive capital investment by them and others. So what are you seeing on that? How much of it could you play in and how – would that shake out as far as future orders, um, kind of over the next two or three years, if that cycle develops the way some of the larger industry players see. And, and then secondly, um, congratulations on that GE warranty. Um, I was going to ask it to, um, so just to clarify, um, It's approved, it's baked. Have you actually signed off or you still need to? And just for clarity, that does open about 50% of the market that you haven't been able to touch. So just some more color on how meaningful that could be.
A: Regarding semi-CapEx, continued good growth expected, upside longer than past cycles. Regarding GE warranty, product tested, going through final tests, worth millions, but not 50% market increase.