Loma Negra (LOMA) Q1 2026 earnings summary

Executive summary

• Net revenues increased 1.1% year-over-year to Ps. 218.7 billion (US$149 million), led by a 0.8% increase in the Cement segment, with consolidated Adjusted EBITDA up 5.1% to Ps. 54.6 billion (US$45 million) and margin up 94 bps to 24.9%.

• Cement volumes grew 1.8% year-over-year, with margin and EBITDA per ton improving both sequentially and year-over-year.

• Net profit attributable to owners surged 44% year-over-year to Ps. 41.0 billion, driven by higher financial gains and improved operating performance.

• Issued a US$60 million Class 6 corporate bond, strengthening the balance sheet and extending debt maturity.

• March activity rebounded after a subdued start, supporting a positive outlook for the rest of the year.

Financial highlights

• Consolidated Adjusted EBITDA margin expanded 94 bps year-over-year to 24.9%, with gross margin contracting 37 bps to 26.1%.

• Gross profit declined slightly by 0.3% year-over-year; SG&A expenses decreased by 3.9%, mainly due to lower salary and freight costs.

• Net debt stood at US$186 million, with a net debt/LTM adjusted EBITDA ratio of 1.33x, improved from 1.47x at FY25.

• Cash and equivalents rose to Ps. 46,401 million, with total debt at Ps. 305.8 billion.

• Net financial gain was ARS 32.4 billion, mainly from foreign exchange gains on US dollar liabilities.

Outlook and guidance

• Management expects a more sustained recovery in demand, supported by improved March volumes and ongoing operational initiatives.

• Focus remains on margin recovery, cost discipline, and operational efficiency, with margins expected to be maintained or improved in the coming quarters.

• Growth drivers include infrastructure investment, housing deficit, and road concessions, supporting medium-term demand.

• Forecasts high single-digit volume growth for the year, despite a weak April due to weather.

• Well positioned to capture growth opportunities as demand strengthens.