Doosan Bobcat (241560) Q1 2026 earnings summary

Executive summary

• Revenue grew 6% year-over-year in Q1 2026, driven by improved demand and favorable pricing across major segments.

• Operating income rose 3% year-over-year, aided by sales growth and one-off items, partially offset by tariff impacts.

• Net income increased 15% year-over-year, reflecting improved operating performance and lower financial costs.

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.

• Net interest expense declined 56.9% year-over-year to $4M.

• Revenue in KRW increased 7.1% year-over-year due to currency effects.

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.

• North American recovery expected to continue, though Section 232 changes may increase tariff burdens.