Shock absorber maker Taylor Devices' Q1 sales fall
TAYD•Taylor Devices' fiscal Q1 sales fell 26% year over year to $7.30 million, below the $13.10 million consensus estimate, while net earnings declined sharply. The company attributed lower sales and profitability partly to delayed revenue recognition from a late-arriving backlog.
1. Sales and earnings decline
Taylor Devices reported fiscal Q1 sales of $7.30 million, down 26% year over year and below the $13.10 million consensus estimate. Earnings per share were $0.14, and net earnings declined sharply from the prior year. The company said a late-arriving backlog in the prior fiscal year pushed associated sales recognition out of Q1, reducing sales and profitability.
2. Other pressures and plans
The company said product sales mix and new product development efforts further pressured margins. It cited higher interest rates and foreign exchange as headwinds in structural markets, while aerospace and defense benefited from global unrest. Taylor Devices said it will continue investing in its team, research and development, and facilities in fiscal 2027.
