QEP Q2 sales rise on channel expansion and retail initiatives
QEPC•QEP fiscal second-quarter sales rose 5.9% year over year to $61.05 million. Gross margin declined because of higher tariff and input costs, and the company repurchased $9.2 million in stock during the first six months of fiscal 2027.
1. Sales and margins
QEP said fiscal second-quarter sales rose 5.9% year over year to $61.05 million, driven by expansion in its professional distribution channel, particularly adhesive products, and retail initiatives. Gross profit was $20.90 million, while gross margin declined due to higher tariff and input costs.
2. Expenses and buybacks
Operating expenses were $13.51 million, and operating income was $7.39 million. The company said expenses excluding tariff refunds increased mainly because of higher shipping, general and administrative, and selling and marketing costs. QEP repurchased $9.2 million in stock during the first six months of fiscal 2027 and provided no specific guidance for future quarters or the full year.
