EACO Corporation Net Income Surges 40% to $19.1M in First Half of Fiscal 2026
The Florida-based holding company posted net income of $19.1 million for the six months ending February 28, up from $13.7 million a year earlier. Revenue climbed 18% to $228.8 million.
EACO Corporation, a Florida-based holding company primarily comprised of its subsidiary Bisco Industries, reported net income of $19.1 million for the six months ending February 28, 2026, up 40% from $13.7 million in the same period a year earlier. Earnings per diluted share rose to $3.90 from $2.79. Read more earnings reports.
Revenue for the first half of fiscal 2026 reached $228.8 million, an 18% increase from $194.1 million in the prior-year period. For the three months ending February 28, revenue totaled $117.8 million, up from $100.1 million a year earlier.
Operating income for the six-month period more than doubled to $25.3 million from $17.9 million, driven by improved margins. Gross profit expanded to $70.6 million from $57.3 million, while selling, general and administrative expenses rose to $45.3 million from $39.4 million.
Balance Sheet and Cash Position
Total assets stood at $239.1 million as of February 28, 2026, up from $230.2 million at the end of fiscal 2025. Cash and cash equivalents jumped to $5.1 million from $728,000 six months earlier. The company also reported a sharp increase in inventory to $91.3 million from $84.0 million.
Total liabilities declined to $64.1 million from $74.3 million as of August 31, 2025, with current liabilities falling to $54.3 million from $65.9 million. Long-term debt stood at $4.0 million. Stockholders' equity rose to $175.0 million from $155.9 million, bolstered by retained earnings of $162.4 million.
Cash Flow Performance
The company generated $890,000 in cash from operations during the first half of fiscal 2026, a reversal from negative $1.1 million in the prior-year period. Cash from investing activities totaled $3.8 million, compared to negative $559,000 a year earlier. Cash used in financing activities was $298,000.
Key Financial Metrics
| Metric | H1 FY2026 | H1 FY2025 | Change |
|---|---|---|---|
| Revenue | $228.8M | $194.1M | +18% |
| Gross Profit | $70.6M | $57.3M | +23% |
| Operating Income | $25.3M | $17.9M | +41% |
| Net Income | $19.1M | $13.7M | +40% |
| EPS (Diluted) | $3.90 | $2.79 | +40% |
EACO had 4.9 million shares outstanding on a diluted basis as of February 28, 2026. The company is classified as a non-accelerated filer and qualifies as a small business under regulatory definitions.