Iochpe-Maxion (MYPK3) Q2 2026 earnings summary

Executive summary

• Delivered resilient performance in Q2 2026, supported by disciplined cost savings, operational flexibility, and strong liquidity amid dynamic market and macroeconomic conditions.

• North America and Asia, especially India, showed strong growth and recovery, with India as a key growth engine; Brazil LV remained robust while CV markets were weaker.

• Maintained solid liquidity, reduced net debt, and reinforced financial flexibility and shareholder value creation.

• Recognized for ESG leadership, included in major sustainability indexes, and achieved high ratings for climate and information security practices.

• Interim financials for H1 2026 were reviewed and found compliant with IFRS and Brazilian standards, with no material misstatements.

Financial highlights

• Net revenue for Q2 2026 was R$4,012.5 million, down 2.3% year-over-year; H1 2026 revenue was R$7,819.8 million, down 2.8%.

• Gross profit margin at 12.1% for Q2 2026, with gross profit of R$485.5 million; H1 2026 gross margin was 11.9%.

• EBITDA margin at 10.4% for Q2 2026 (EBITDA R$417.5 million); H1 2026 EBITDA was R$774.6 million.

• Net income for Q2 2026 was R$86.9 million–R$123.3 million; H1 2026 net income was R$160.4 million, up 9.9% year-over-year.

• Operational cash flow for H1 2026 was R$454 million, a significant improvement from H1 2025.

Outlook and guidance

• Expecting improved performance in H2 2026, especially as North American truck market recovers and India continues to drive growth.

• Optimism for South American LV and pickup truck markets; cautious on Brazilian CV and European LV demand.

• Continued focus on operational efficiency, cost control, and maintaining a strong capital structure.

• Committed to ESG initiatives and risk management, with ongoing investments in innovation and sustainability.

• Metal cost pass-through expected to be a tailwind in H2 2026.