Doosan Bobcat (241560) Q1 2026 earnings summary

Executive summary

• Q1 2026 consolidated revenue reached $1,534M, up 6.2% year-over-year, with net income of $90M and operating income of $141M, driven by improved demand and favorable pricing across major segments.

• Compact Equipment accounted for 78.9% of sales, with North America as the largest market (72% of sales).

• Maintained strong liquidity with cash and cash equivalents at $1,483M as of March 2026.

Financial highlights

• Q1 2026 revenue reached $1,534M, up 6.2% year-over-year but down 6.5% sequentially.

• EBIT was $141M (+2.6% YoY, +38.9% QoQ); EBITDA was $186M (+3.0% YoY, +26.8% QoQ).

• Net profit was $90M, up 15% year-over-year and 53.3% sequentially.

• Gross profit margin was 22.8%, with gross profit of $349M.

• EPS for Q1 2026 was $0.94, up from $0.81 in Q1 2025.

Outlook and guidance

• Gradual market recovery expected in EMEA and North America, despite ongoing war and tariff uncertainties.

• Similar year-over-year regional growth anticipated into Q2 2026.

• Quarterly dividend policy implemented, with Q1 2026 interim dividend of $25.3M to be paid in May 2026.

• Management targets growth in North America and expansion in agricultural and landscaping equipment.