Doosan Bobcat (241560) Q2 2026 earnings summary

Executive summary

• Revenue increased 4% year-over-year to $1,630M in 2Q26, despite shipment delays from a technical system issue, supported by commercial actions.

• Operating profit rose 34% year-over-year, primarily due to significant tariff refunds, with a one-off gain of $81M in 2Q26.

• Net profit surged 54% year-over-year, driven by stronger operating performance and lower financing costs.

Financial highlights

• EBIT margin improved to 11.9% in 2Q26, up 2.6 percentage points year-over-year.

• EBITDA increased 28% year-over-year to $244M.

• Net interest expense decreased 19% year-over-year.

• Profit before tax rose 50% year-over-year to $189M.

• Revenue in KRW terms grew 11.2% year-over-year, reflecting currency effects.

Outlook and guidance

• Deferred shipment recovery and secured rental fleet orders are expected to drive stronger growth in coming quarters.

• Growth anticipated from deferred shipments in India and other countries, as well as promotional activities in Latin America.