Iochpe-Maxion (MYPK3) Q2 2026 earnings summary

Executive summary

• Delivered resilient performance in Q2 2026, supported by disciplined cost savings, operational flexibility, and strong liquidity amid macroeconomic uncertainty and geopolitical tensions.

• North America showed recovery with improving commercial vehicle demand and strong aluminum wheel sales; Asia, especially India, remained a key growth engine across all segments.

• South America saw strong light vehicle demand, offsetting weaker commercial vehicle sales; Brazil's LV market remained robust.

• Expanded relationships with Chinese automakers and increased participation in new global programs, driving organic growth.

• Maintained solid liquidity, reduced net debt, and reinforced financial flexibility and shareholder value creation.

Financial highlights

• Net revenue for Q2 2026 was R$4,012.5 million, down 2.3% year-over-year due to FX and softer CV demand; H1 2026 revenue was R$7,819.8 million, down 2.8%.

• Gross profit for Q2 2026 was R$485.5 million (gross margin 12.1%), down 9.2% year-over-year, impacted by lower fixed cost absorption and raw material timing effects.

• EBITDA for Q2 2026 was R$417.5 million (margin 10.4%), down 7.3% year-over-year but improved sequentially from Q1.

• Net income for Q2 2026 was R$86.9 million (EPS R$0.58), with H1 2026 net income at R$90 million.

• Operational cash flow for H1 2026 was R$454 million, a significant improvement from R$3 million last year.

Outlook and guidance

• Expecting better earnings and margin recovery in H2 2026, especially as North American truck market rebounds and India continues to drive growth.

• LV market projected to see little or no growth globally, while CV markets in North America, Europe, and India are expected to grow.

• Brazil's CV market should stabilize in H2 2026 and into 2027; South Africa preparing for new product launches and sustainability initiatives.

• Continued focus on cost discipline, cash generation, and debt reduction.