Ferreycorp (FERREYC1) Q1 2026 earnings summary

Executive summary

• Consolidated sales reached $578 million (S/1.98 billion), up 8.3% year-over-year in USD, driven by strong demand for Caterpillar machinery in mining, construction, and infrastructure sectors.

• Operating expenses fell 10.4% year-over-year, reflecting disciplined cost control and operational efficiency.

• Net profit dropped 63% year-over-year to S/53 million, mainly due to significant FX loss and lower EBITDA; adjusted net profit was S/110 million, down 17%.

• Dividend payout of S/288.3 million approved, with payment scheduled for May 8, 2026.

• Exchange rate volatility significantly impacted gross profit, operating, and net income, with a S/67 million FX loss versus a S/35 million gain last year.

Financial highlights

• Revenues increased 8.3% in USD and 0.3% in local currency year-over-year; consolidated sales in PEN were S/1.98 billion.

• EBITDA was S/247 million (adjusted S/265 million), both down 8% year-over-year.

• Gross margin declined to 22.1% (adjusted: 23.0%) from 25.4% (adjusted: 26.3%) due to a higher share of lower-margin machinery sales.

• Operating profit was S/170 million, down 14%; adjusted operating profit was S/188 million, down 13%.

• Net financial expenses rose to S/25 million, 1.6% of sales, reflecting higher debt levels but lower average interest rates.

Outlook and guidance

• Expectation of continued strong demand for machinery, especially in mining and infrastructure, with sales mix anticipated to remain similar and margins expected to stabilize around 23%.

• Management highlights ongoing expense optimization, inventory management, and plans to maintain medium-term debt discipline.

• Operations remain agile and focused on supporting critical customer needs and driving shareholder value amid Peru's political transition.