Navios South American Logistics Inc (Navios) Q1 2026 earnings summary

Executive summary

• Total revenue for Q1 2026 increased to $75.5 million, up $3.3 million year-over-year, driven by higher throughput and tariffs in the Port Terminal and Barge Businesses, partially offset by lower Cabotage revenue due to vessel sale.

• Loss for the period was $8.2 million, compared to a $4.5 million loss in Q1 2025, mainly due to higher interest expenses and lower Cabotage Business contribution.

• Adjusted loss for Q1 2026 was $2.7 million, excluding $8.9 million PIK interest and a $3.3 million non-cash tax benefit.

• EBITDA for Q1 2026 was $23.3 million, down from $25.2 million in Q1 2025.

Financial highlights

• Revenue: $75.5 million (Q1 2026) vs $72.2 million (Q1 2025).

• Loss for the period: $8.2 million (Q1 2026) vs $4.5 million (Q1 2025).

• Adjusted loss: $2.7 million (Q1 2026) vs adjusted profit of $1.3 million (Q1 2025).

• EBITDA: $23.3 million (Q1 2026) vs $25.2 million (Q1 2025).

• Cash and cash equivalents increased to $53.3 million as of March 31, 2026.

Outlook and guidance

• Operations at the new Brazil Port Terminal are expected to commence within 2026.

• Expansion of the Iron Ore Port Terminal completed, supporting future throughput growth.

• No dividends were paid or declared for the period.