ImmuCell Reports Record Q1 2026 Earnings with $10.4M in Sales

ImmuCell Corporation reported record first-quarter results for 2026, achieving product sales of approximately $10.4 million, a 28.4% year-over-year increase. This marks the company's first quarter exceeding $10 million in revenue. Net income rose 34% to $1.9 million, or $0.21 per share, while gross margins expanded to 45% due to improved pricing and manufacturing performance. The growth was primarily driven by the flagship First Defense portfolio, specifically the Tri-Shield product, which saw a 38.5% sales increase. Domestic sales surged 35.7% to $9.7 million, although international sales declined by 30.2%. Management attributed the success to a strategic focus on the calf scours prevention market, leadership investments, and enhanced manufacturing yields that reduced waste. Operating expenses increased to $2.7 million, largely due to higher general administrative and sales costs. The company ended the quarter with $6.8 million in cash and $15 million in working capital. CEO Olivier te Boekhorst highlighted that ImmuCell captured nearly 80% of the category's dollar expansion, benefiting from rising calf values and increased market share in the U.S. biologics sector.