Grupo Industrial Saltillo (GISSA A) Q1 2026 earnings summary

Executive summary

• Consolidated revenue rose 7% YoY to $271M; reported EBITDA was $31M, with a 12% margin, versus $32M in 1Q25, which included a $3M extraordinary benefit.

• Improved Draxton mix, higher-value machining and plating, and better operating indicators supported results amid volatile markets.

• New program awards represent estimated revenue of more than $50M, with launches expected over the next two years.

Financial highlights

• Consolidated revenue rose 7% to $271M; Draxton revenue was $247M, up 6%, and Cinsa revenue was $23M, up 15%.

• Consolidated pro forma EBITDA increased 4% YoY; reported EBITDA was $31M versus $32M, including a $3M extraordinary benefit in 1Q25.

• Draxton EBITDA was $29M at a 12% margin; excluding the prior-year $3M benefit, EBITDA grew 4% YoY.

• Cost of sales increased 7% to $228M and general expenses rose 15% to $38M; most SG&A growth reflected exchange-rate effects.

Outlook and guidance

• FY 2026 CapEx guidance remains $60M-$70M; priorities include consolidating recent capacity additions and capturing volume through the existing platform.

• Priorities include improving operating indicators, controlling fixed costs and working capital, and pursuing profitable mix in Europe and Evercast.

• Medium- to long-term plans include expanding European commercial-vehicle platforms and growing machining, plating and other value-added processes.

• North American machining utilization was 80%-85% during the launch period, with a 90% target for the rest of 2026.