Amrize (AMRZ) Q1 2026 earnings summary

Executive summary

• Q1 2026 consolidated revenues rose 4.7% year-over-year to $2,178M, driven by strong demand and double-digit volume growth in Building Materials, while Building Envelope was impacted by soft roofing demand and a temporary plant disruption.

• Adjusted EBITDA declined 10.3% to $192M, reflecting mixed segment performance and non-recurring costs.

• Net loss widened to $118M from $87M in Q1 2025, with diluted loss per share at $(0.21).

• PB Materials acquisition closed in February, contributing positively to results.

• Board declared a $0.11 per share quarterly dividend and approved a $1.0B share repurchase program.

Financial highlights

• Building Materials revenues up 12.9% to $1,500M; Adjusted EBITDA up 41.7% to $170M.

• Building Envelope revenues down 9.8% to $678M; Adjusted EBITDA down 37.1% to $78M.

• Q1 Capex totaled $272M, on track for $900M in 2026.

• $1.1B in cash and equivalents; $4.3B total available liquidity as of March 31, 2026.

• Free cash flow was a use of $1,163M, reflecting seasonal trends.

Outlook and guidance

• 2026 revenue guidance reaffirmed at $12.29B–$12.52B (+4% to +6% YoY).

• Adjusted EBITDA guidance reaffirmed at $3.25B–$3.34B (+8% to +11% YoY).

• Margin expansion targeted via ASPIRE program, aiming for 70bps in 2026 and $250M synergies by 2028.

• Building Materials expected to benefit from price increases and strong volumes; Building Envelope expects improvement in H2 2026.

• CapEx planned at $900M for 2026.