Navios South American Logistics Inc (Navios) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 was $79.6 million, up from $63.4 million in Q4 2024; full-year revenue reached $320.2 million, up from $298.4 million year-over-year.

• Adjusted EBITDA for Q4 2025 was $29.2 million, a 94% increase from $15.1 million in Q4 2024; full-year Adjusted EBITDA was $115.6 million, up 13% from $102.1 million.

• Adjusted profit for Q4 2025 was $3.9 million, reversing a $8.3 million loss in Q4 2024; full-year adjusted profit was $19.1 million, compared to a $5.7 million loss in 2024.

Financial highlights

• Gross profit for Q4 2025 was $26.8 million, up from $13.9 million in Q4 2024; full-year gross profit was $102.6 million, up from $84.6 million.

• Operating profit for Q4 2025 was $17.8 million, compared to a $7.4 million loss in Q4 2024; full-year operating profit was $69.7 million, up from $44.3 million.

• Loss for Q4 2025 was $4.5 million, improved from a $24.3 million loss in Q4 2024; full-year loss was $46.6 million, compared to $19.9 million in 2024.

• Cash and cash equivalents at year-end 2025 were $35.9 million; secured debt stood at $477.8 million.

Outlook and guidance

• Construction of the Murtinho Port in Brazil is expected to be completed in Q1 2026.