Aebi Schmidt Holding (NASDAQ:AEBI) reported first-quarter revenue above analyst expectations on Thursday, supported by solid order growth across its Airport and Municipal businesses.
The company’s shares were little changed in after-hours trading following the earnings release.
Revenue Exceeds Expectations Despite Flat Year-on-Year Performance
Quarterly revenue came in at $455.6 million, ahead of analyst estimates of $447.4 million.
Revenue was broadly unchanged compared with the first quarter of 2025, although the company said sales increased 7% excluding the impact of $26.3 million in Blue Arc sales recorded in the prior-year period.
Profitability Improves on Strong European Performance
Net income rose 7% year-on-year to $0.7 million.
Adjusted EBITDA increased 6% to $33.1 million, representing 7.3% of net sales.
The company said EBITDA margin improved by approximately 40 basis points, largely driven by a 201% increase in profitability within its Europe and Rest of World operations.
Order Backlog Expands to $1.3 Billion
Aebi Schmidt reported continued strength in demand during the quarter.
Order intake increased 9% compared with the same period last year, while the company’s order backlog expanded 23% to $1.3 billion as of March 31, 2026.
The Europe and Rest of World division delivered organic sales growth of 16% year-on-year.
Meanwhile, adjusted EBITDA in North America declined 9% to $26.4 million due to higher ramp-up costs linked to Walk-in-Vans production.
CEO Says Company Started 2026 Strongly
Chief executive Barend Fruithof said the company entered 2026 with positive operating momentum.
“Aebi Schmidt Group delivered a strong start to 2026, with meaningful order growth and improved profitability compared to last year,” Fruithof said. “Our order intake is up 9% vs Q1 2025 and we are performing as expected.”
Full-Year Guidance Reaffirmed
The company maintained its outlook for fiscal 2026.
Aebi Schmidt continues to expect annual revenue between $1.95 billion and $2.15 billion, with the midpoint slightly above analyst consensus forecasts.
The group also reaffirmed adjusted EBITDA guidance of $175 million to $195 million and said it expects leverage to remain at 2.0x or below by year-end.
Net Debt Increases Due to Seasonal Inventory Build
Net debt rose by $18 million during the quarter to $455 million.
The company said the increase was mainly related to seasonal inventory investments.