Consorcio Ara SAB de CV (ARA) Q1 2026 earnings summary

Executive summary

• Revenues, EBITDA, and net income grew 23.6%, 35.4%, and 12.2% year-over-year in Q1 2026, reflecting a strong start to the year and performance in line with expectations.

• Free cash flow was positive at MXN 62.5 million, and the working capital cycle improved by 46 days.

• 1,591 homes sold, up 10.3% year-over-year, with an average price increase of 12.5%.

• Dividend of MXN 300 million approved, yielding 4.4% based on 2025 closing price; payment expected in Q3 2026.

• Dividend of P$200 million approved, representing a 4.4% yield based on 2025 closing price.

Financial highlights

• Total revenues reached MXN 2.8 billion; housing revenues were MXN 2.21 billion, up 24.1% year-over-year.

• Operating income was MXN 230.4 million, up 26.7% year-over-year, with a 7.1% operating margin.

• EBITDA grew 35.4% to MXN 332.2 million; EBITDA margin expanded to 14.6%.

• Net income was MXN 201.5 million, up 12.2%, with a net margin of 8.8%.

• EPS for the last twelve months was P$0.766, a 33.8% increase year-over-year.

Outlook and guidance

• Expecting to announce participation in the government affordable housing program in Q2 2026.

• Targeting revenue mix: 30% affordable entry-level, 40% middle income, 25%+ residential, remainder from other projects.

• Working capital cycle expected to continue improving at the current pace.

• Management expects continued robust performance through December, maintaining disciplined focus on goals.