WNC (6285) Q1 2026 earnings summary

Executive summary

• Achieved sequential and year-over-year growth in revenue, gross margin, operating income, and net profit for Q1 2026.

• Net operating revenue for Q1 2026 was NT$29,156 million, up 2.8% year-over-year, with net income of NT$1,132 million, a 23.4% increase from Q1 2025.

• Gross margin improved to 14% from 12% year-over-year, driven by higher sales in America and Asia.

• Continued expansion in automotive, enterprise, and service provider segments, focusing on advanced connectivity and edge computing solutions.

• Recognized for sustainability and management excellence by TIME, FinanceAsia, and S&P Global.

Financial highlights

• Q1 2026 net revenue was NT$29,156 million, up 7.9% QoQ and 2.8% YoY.

• Gross margin improved to 14%, up from 14.1% QoQ and 12.2% YoY.

• Operating income rose 24.3% QoQ and 30.3% YoY to NT$1,362 million.

• Net profit after tax increased 14.7% QoQ and 23.3% YoY to NT$1,132 million.

• EPS reached NT$2.36 basic and NT$2.33 diluted, up from NT$2.06 QoQ and NT$1.92 YoY.

Key financial ratios and metrics

• Operating expense ratio decreased to 9.1% from 10.0% QoQ but increased from 8.5% YoY.

• Total assets grew 15% QoQ and 17% YoY to NT$86,502 million.

• Shareholder's equity increased 26% YoY to NT$34,977 million.

• Cash and short-term investments at NT$16,735 million, down 10% QoQ but up 4% YoY.

• Return on equity (annualized): approximately 13.2%.