Northern Technologies International Corporation (NASDAQ:NTIC) stock rose 2.43% (As on April 10, 11:03:30 AM UTC-4, Source: Google Finance) after the company posted mixed results for the second quarter of FY 26. Second quarter performance was driven by solid top-line growth across the businesses, including record second quarter ZERUST oil and gas net sales, with year-over-year growth across all geographies, in accordance with the investments the company have made in the global sales infrastructure and the increasing adoption of the VCI solutions within the global oil and gas industry. The company have also seen consistent strength at NTIC China, despite the seasonal impact of the Lunar New Year and achieved another solid quarter of Natur-Tec growth. At February 28, 2026, NTIC had $29,748,000 of investments in joint ventures, of which $15,400,000, or 51.8%, was cash, with the remaining balance mostly made up of other working capital. NTIC had working capital of $20,202,000 as of February 28, 2026, including $6,470,000 in cash and cash equivalents and an outstanding revolving line of credit and term loan balance of $14,259,000, compared to $20,439,000 of working capital as of August 31, 2025, including $7,251,000 in cash and cash equivalents and an outstanding revolving line of credit and term loan balance of $12,189,000.

Moreover, net sales at NTIC’s joint ventures, which are not consolidated with NTIC’s financial results, increased 18.6% to $23,484,000 during the three months ended February 28, 2026, compared to $19,800,000 for the three months ended February 28, 2025. NTIC’s total income from joint venture operations increased 19.8% to $2,027,000 during the three months ended February 28, 2026, compared to $1,691,000 during the three months ended February 28, 2025. Net loss attributable to NTIC for the second quarter of fiscal 2026 was $35,000, or $(0.00) per diluted share, compared to net income attributable to NTIC of $434,000, or $0.04 per diluted share, for the same period last fiscal year.

NTIC in the second quarter of FY 26 has reported the adjusted earnings per share of $0.01, missing the analysts’ estimates for the adjusted earnings per share of $0.02, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 15.3 percent to $22 million in the second quarter of FY 26, beating the analysts’ estimates for revenue by 4.25%. The year-over-year increase in second quarter sales was primarily driven by increased sales and demand for ZERUST® and Natur-Tec products.

As the company move through the second half of fiscal 2026, the company expects continued sales growth and improved profitability, supported by stable trends in North America and ongoing strength in NTIC China, ZERUST oil and gas, and Natur-Tec.