Navios South American Logistics Inc (Navios) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased to $86.5 million, up $3.8 million year-over-year, driven by higher Barge Business revenues, while Port Terminal and Cabotage revenues were flat or declined.

• Loss for the quarter widened to $14.3 million from $1.4 million in Q2 2025, with adjusted loss at $4.9 million versus an adjusted profit of $8.0 million last year.

• EBITDA for Q2 2026 was $22.7 million, down from $32.0 million in Q2 2025, reflecting higher costs and lower margins.

Financial highlights

• Total revenue for the six months ended June 30, 2026 was $162.0 million, up $7.1 million year-over-year.

• Cost of sales for Q2 2026 rose by $11.4 million to $66.7 million, mainly due to higher voyage and vessel expenses in the Barge Business.

• Administrative expenses increased by $0.9 million to $7.2 million for Q2 2026.

• Finance costs (excluding PIK interest) rose by $3.5 million to $15.4 million in Q2 2026.

• PIK interest expense increased slightly to $9.2 million for the quarter.

Outlook and guidance

• Management expects available cash, cash from operations, and borrowings to be sufficient to meet liquidity needs and covenant compliance for at least twelve months from June 30, 2026.