NPK Q1 2026: Defense +23% drives revenue, but warehouse issues sink Housewares to loss

Filed May 15, 2026 · Period ending April 5, 2026 · ~2 min read

Key Changes

• high

  Defense segment revenue rose 23% to $99.6M on backlog shipments, with backlog growing to $1.84B (up $88M from year-end). Defense generated $14.3M operating profit and represents 84% of total revenue.

  Notes: Defense segment backlog verify on EDGAR →
• high

  Housewares segment swung to a $4.2M operating loss on $18.5M revenue (down 16%) due to warehouse startup issues that prevented shipping during part of Q1, plus $1.9M in warehouse transition costs.

  MD&A: Housewares segment warehouse startup issues verify on EDGAR →
• high

  Operating cash flow more than doubled to $31.3M from $12.5M prior year on $36.7M accounts-receivable collection, enabling full paydown of the $23.6M revolving credit line to zero.

  Notes: Cash flow and working capital verify on EDGAR →