Doosan Bobcat (241560) Q3 2026 earnings summary

Executive summary

• 3Q26 revenue rose 13.0% YoY to $1,728M on stronger compact equipment sales in key markets and commercial actions; EBIT increased 22.0% and net profit 13.1%.

• Higher sales volumes and commercial actions supported profitability, while cash increased $108M from June 2026, aided by operating inflows and tariff refund proceeds.

Financial highlights

• Revenue was $1,728M, up 13.0% YoY and 6.0% QoQ; the revenue bridge showed +$172M from volume and mix, +$31M from pricing and PSD, and -$5M from currency.

• EBIT was $119M, up 22.0% YoY and down 38.9% QoQ; EBITDA was $170M, up 18.5% YoY and down 30.8% QoQ.

• Profit before tax increased 37.5% YoY to $104M; net profit rose 13.1% to $68M, but declined 49.4% QoQ.

Outlook and guidance

• Compact Equipment sales expected near 3Q levels as deferred North America shipments continue.

• Material Handling trend expected to continue, supported by solid demand; Portable Power sales expected flat YoY on steady demand.

• Mexico emissions pre-buying expected to support ALAO growth; public investment expected to sustain EMEA demand, with geopolitical risks remaining.