The flat Q1 revenue and confirmed full-year guidance suggest no near-term catalyst for a significant move. The record $1.3B backlog and 9% order intake growth support the second-half ramp narrative — watch Q2 2026 results for evidence of walk-in-van revenue conversion and margin expansion. Leverage at 2.88x remains above the 2.0x year-end target, so debt reduction progress will be a key monitorable.
Price Chart
Executive Summary
Aebi Schmidt reported Q1 2026 net sales of $456M (flat YoY, but up 7% excluding $26.3M of prior-year Blue Arc sales), adjusted EBITDA of $33.1M (+6% YoY), and net income of $0.7M (+7% YoY). Order intake grew 9% and backlog hit a record $1.3B (+23% YoY), while the company confirmed full-year 2026 guidance of $1.95B-$2.15B in sales and $175M-$195M in adjusted EBITDA. The quarter was in line with expectations, with the stock likely to trade on the strong order pipeline and second-half ramp rather than the flat Q1 revenue.
Key Financial Metrics
Key Facts
- Q1 2026 net sales of $456M, flat vs Q1 2025; up 7% excluding $26.3M of prior-year Blue Arc sales
- Adjusted EBITDA of $33.1M, up 6% YoY; margin expanded ~40bps to 7.3%
- Net income of $0.7M, up 7% from $0.6M in Q1 2025
- Order intake grew 9% YoY; order backlog reached a record $1.3B, up 23% YoY
- Full-year 2026 guidance confirmed: net sales $1.95B-$2.15B, adjusted EBITDA $175M-$195M, leverage ≤2.0x
- North America adjusted EBITDA fell 9% to $26.4M due to ramp-up expenses for walk-in-van production
- Europe/RoW adjusted EBITDA tripled to $6.8M, a record first quarter
- Net debt increased $18M to $455M; leverage at 2.88x
Financial Impact
Q1 2026 net sales $456M (flat YoY), adjusted EBITDA $33.1M (+6% YoY), net income $0.7M (+7% YoY)
Risk Factors
- North America adjusted EBITDA declined 9% due to ramp-up costs; any delay in walk-in-van revenue conversion could pressure margins
- Net debt increased $18M sequentially; leverage at 2.88x is above the 2.0x year-end target
- Geopolitical uncertainty and market softness cited as risks to the first-half outlook
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003396 |
| Document: f8k_051326.htm | 0001171843-26-003396 |
| Document: 0001171843-26-003396-index-headers.html | 0001171843-26-003396 |
| Document: 0001171843-26-003396-index.html | 0001171843-26-003396 |
| Document: 0001171843-26-003396.txt | 0001171843-26-003396 |
| 8-K Data (Synthetic) | 0001171843-26-003396 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 10w ago | Press Release | $13.69 | awaiting T+60 | — | $11.08 (−19.07%) |
Jul 13, 2026 15w ago | 8-K | $11.89 $11.32 | ▼ −4.79% | ▼ −8.79% | $11.08 (−6.81%) |
Jul 13, 2026 15w ago | Press Release | $11.89 $11.32 | ▼ −4.79% | ▼ −8.79% | $11.08 (−6.81%) |
May 26, 2026 21w ago | Insider Cluster | $12.78 $11.91 | ▼ −6.83% | ▼ −8.71% | $11.08 (−13.33%) |
May 21, 2026 22w ago | Press Release | $11.84 $12.40 | ▲ +4.77% | ▲ +0.47% | $11.08 (−6.38%) |
May 19, 2026 22w ago | Insider Cluster | $12.26 $12.71 | ▲ +3.67% | ▼ −1.33% | $11.08 (−9.62%) |
May 19, 2026 22w ago | Insider Cluster | $12.23 $12.71 | ▲ +3.88% | ▼ −1.12% | $11.08 (−9.44%) |
May 14, 2026 23w ago | 8-K | $11.13 $12.75 | ▲ +14.59% | ▲ +11.00% | $11.08 (−0.42%) |
Apr 10, 2026 28w ago | 8-K | $12.21 $11.40 | ▼ −6.63% | ▼ −15.56% | $11.08 (−9.25%) |
Apr 10, 2026 28w ago | DEFA14A | $12.21 $11.40 | ▼ −6.63% | ▼ −15.56% | $11.08 (−9.25%) |
US Market Status
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