VSH Q1 revenue up 17% YoY to $839M; margin expands to 21% as demand recovers

Filed May 13, 2026 · Period ending April 4, 2026 · ~1 min read

Key Changes

• high

  Revenue rose 17.3% year-over-year to $839.2M and net earnings turned positive at $7.2M ($0.05/share) vs. a $4.1M loss in Q1 FY2025, driven by higher sales volume and manufacturing efficiencies that offset increased metals and materials costs.

  MD&A: Q1 FY2026 financial results verify on EDGAR →
• high

  Gross margin expanded 140 basis points sequentially to 21.0% (from 19.6%) and 200 basis points year-over-year (from 19.0%), reflecting improved operating leverage as volume recovered.

  MD&A: gross profit margin expansion verify on EDGAR →
• high

  Backlog increased to $1.59B and book-to-bill ratio rose to 1.34, signaling strong order momentum after a period of distribution-channel inventory digestion.

  MD&A: backlog and book-to-bill ratio verify on EDGAR →