Ginebra San Miguel (GSMI) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 rose 9% year-over-year to P2,292 million, driven by higher selling prices and stable cost of sales.

• Gross revenue increased 3% to P16,727 million, while gross profit improved 11% to P4,512 million.

• Operating margin expanded to 17% from 15% in the prior year.

Financial highlights

• Gross revenue: P16,727 million, up 3% year-over-year.

• Net income: P2,292 million, up 9% year-over-year.

• Basic and diluted EPS: P8.00, up from P7.38.

• Cash and cash equivalents increased 19% to P17,850 million from December 2025.

• Current ratio: 2.72; debt-to-equity ratio: 0.44.

Outlook and guidance

• Management expects continued stability, with ongoing capital projects and a focus on maintaining strong liquidity and operational efficiency.

• No material trends or uncertainties expected to impact liquidity or sales.