$SIF

SIFCO INDUSTRIES INC

CIK:0000090168|SEC Filings

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 26,145	$ 22,095	$ 76,562	$ 62,005
Cost of goods sold	22,723	16,200	62,290	53,612
Gross profit	3,422	5,895	14,272	8,393
Selling, general and administrative expenses	3,100	2,635	8,731	7,826
Loss on disposal of operating assets	36	0	31	0
Operating profit	286	3,260	5,510	567
Interest expense, net	289	391	945	1,289
Foreign currency exchange loss (gain), net	0	5	(1)	4
Other expense (income), net	15	(479)	44	(404)
Income (loss) from continuing operations before income tax expense	(18)	3,343	4,522	(322)
Income tax expense	22	41	121	120
Income (loss) from continuing operations	(40)	3,302	4,401	(442)
Income from discontinued operations, net of tax	0	106	0	142
Net income (loss)	$ (40)	$ 3,408	$ 4,401	$ (300)
Basic earnings (loss) per share:
Basic earnings (loss) per share from continuing operations (in dollars per share)	$ (0.01)	$ 0.54	$ 0.72	$ (0.07)
Basic earnings per share from discontinued operations (in dollars per share)	0	0.02	0	0.02
Basic earnings (loss) per share (in dollars per share)	(0.01)	0.56	0.72	(0.05)
Diluted earnings (loss) per share:
Diluted earnings (loss) per share from continuing operations (in dollars per share)	(0.01)	0.54	0.71	(0.07)
Diluted earnings per share from discontinued operations (in dollars per share)	0	0.02	0	0.02
Diluted earnings (loss) per share (in dollars per share)	$ (0.01)	$ 0.56	$ 0.71	$ (0.05)
Weighted-average number of common shares (basic) (in shares)	6,131	6,068	6,113	6,050
Weighted-average number of common shares (diluted) (in shares)	6,131	6,138	6,186	6,050

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 4,401	$ (300)
Income from discontinued operations, net of tax	0	142
Income (loss) from continuing operations	4,401	(442)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	3,140	3,912
Amortization of debt issuance costs	161	148
Loss on disposal of operating assets	31	0
LIFO effect	4,409	(606)
Share transactions under company stock plan, net	197	101
Inventory valuation accounts	(669)	548
Deferred income taxes	(21)	179
Interest added to promissory note — related party (paid-in-kind)	0	27
Interest incurred but not yet paid	16	13
Other expenses	26	(144)
Changes in operating assets and liabilities:
Receivables	(3,042)	3,049
Contract assets	(1,284)	(1,936)
Inventories	(9,613)	(1,116)
Prepaid expenses and other current assets	(611)	693
Other assets	20	287
Accounts payable	3,080	(2,673)
Accrued liabilities	1,155	(1,818)
Contract liabilities	1,845	(817)
Accrued income tax	125	(4)
Net cash provided by (used for) operating activities	3,366	(599)
Cash flows from investing activities:
Proceeds from disposal of operating assets	20	0
Capital expenditures	(548)	(324)
Net cash used for investing activities	(528)	(324)
Cash flows from financing activities:
Proceeds from term loan	0	3,000
Payments on term loan	(450)	(400)
Proceeds from revolving credit agreement	71,039	76,644
Repayments of revolving credit agreement	(74,164)	(88,413)
Payment of debt issuance costs	(115)	(203)
Principal payments on capital lease obligations	(34)	(32)
Repayments of promissory note and related fees — related party	0	(4,030)
Net cash used for financing activities	(3,724)	(13,434)
Cash flows from discontinued operations:
Net cash used for operating activities	0	(57)
Net cash provided by investing activities	0	13,348
Net cash provided by financing activities	0	356
Effects of exchange rate changes on cash and cash equivalents	0	(35)
Net cash provided by discontinued operations	0	13,612
Decrease in cash, cash equivalents and restricted cash	(886)	(745)
Cash, cash equivalents and restricted cash from continuing operations at the end of the period	1,158	1,978
Cash paid during the year:
Cash paid for interest	823	1,521
Cash paid for income taxes, net	28	16
Non-cash investing activities:
Additions to property, plant & equipment — incurred but not yet paid	160	48
Debt issuance costs — incurred but not yet paid	$ 0	$ 115

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 77	$ 491
Restricted cash	1,081	1,553
Receivables, net of allowance for credit losses of $138 and $151, respectively	19,145	16,103
Contract assets	11,844	10,560
Inventories, net	10,066	4,192
Prepaid expenses and other current assets	2,665	2,192
Total current assets	44,878	35,091
Property, plant and equipment, net	19,353	21,794
Operating lease right-of-use assets, net	11,801	12,543
Goodwill	3,493	3,493
Other assets	510	473
Total assets	80,035	73,394
Current liabilities:
Current maturities of long-term debt, net of unamortized debt issuance costs	2,182	2,592
Revolver	4,845	7,969
Short-term operating lease liabilities	1,018	959
Accounts payable	9,424	5,796
Contract liabilities	3,630	1,784
Accrued liabilities	4,276	3,140
Total current liabilities	25,375	22,240
Long-term finance lease, net of short-term	15	51
Long-term operating lease liabilities, net of short-term	11,458	12,230
Deferred income taxes, net	143	163
Pension liability	916	1,206
Other long-term liabilities	596	619
Commitments and Contingencies (Note 10)
Shareholders’ equity:
Serial preferred shares, no par value, authorized 1,000 shares; zero shares issued and outstanding at June 30, 2026 and September 30, 2025	0	0
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 6,254 at June 30, 2026 and 6,180 at September 30, 2025	6,254	6,180
Additional paid-in capital	12,015	11,892
Retained earnings	21,553	17,152
Accumulated other comprehensive income	1,710	1,661
Total shareholders’ equity	41,532	36,885
Total liabilities and shareholders’ equity	$ 80,035	$ 73,394