IEH Corporation (IEHC) Q1 2026 Earnings Report

IEH Corporation reported Q1 2026 revenue of $6.31 million with a gross profit of $1.13 million and a gross margin of 17.9%. The quarter delivered an operating loss of $0.76 million and a net loss of $0.655 million, resulting in an EPS of -$0.27. Earnings were pressured by elevated operating expenses relative to the modest gross profit, contributing to negative EBITDA (-$0.565 million) and negative net income despite a strong balance sheet.

A standout feature of IEH’s QQ1 2026 results is the balance sheet liquidity: cash and cash equivalents totaled $10.26 million against total debt of $2.14 million, producing a net cash position of approximately -$8.11 million in net debt and a very high current ratio (driven by $21.93 million in current assets versus $2.22 million in current liabilities). This liquidity provides optionality to fund growth, deleverage opportunistically, or pursue strategic moves, even as the company contends with near-term profitability challenges.

Management commentary (where available) did not publish formal forward guidance in the QQ1 release. The combination of a small revenue base, customer concentration risk in defense/aerospace interconnects, and fixed-cost structure implies a path to profitability will hinge on revenue scale, SG&A leverage, and working capital optimization. Investors should monitor order momentum, product mix shifts toward higher-margin offerings, and any capital allocation decisions that leverage the robust cash position.