Mining & Metals
Martinrea International Posts Higher Adjusted Profit, Lower Revenue; 2026 Outlook Maintained
Martinrea International (MRE.TO) after trade Thursday reported higher adjusted profit and lower revenue for the first quarter.The auto-parts manufacturer said its adjusted profit, which excludes most one-time items, rose to $32.5 million, or $0.45 per share, in the period, up from $29.5 million, or $0.41, a year ago. FactSet expectedRevenue fell 3.7 % to $1.13 billion from $1.17 billion a year prior. "The total decrease in sales was driven by year-over-year decreases across all operating segments," the company said. FactSet projected"We continue to monitor and address the impact of tariffs on our business, including the recent amendments to Section 232 tariffs impacting derivative steel and aluminum products. The vast majority of parts we export to the U.S. are USMCA-compliant and therefore exempt from tariffs. While the section 232 amendments affect some inputs we receive from our Tier 2 suppliers, the impact is modest and expected to be absorbed by our customers," Chief Executive Pat D'Eramo said.The company also reaffirmed its 2026 guidance, with Chief Financial Officer Peter Cirulis adding that Martinrea is "well-positioned to deliver on our 2026 outlook, which calls for total sales of $4.5 to $4.9 billion, adjusted operating income margin of 5.5% to 6%, and free cash flow of $125 to $175 million."The board approved a cash dividend of $0.05 per share, payable to shareholders of record on June 30 on or about July 15.Martinrea shares closed up $0.51 to $10.04 on the Toronto Stock Exchange.
$MRE.TO