$AEBI

Aebi Schmidt Holding AG

CIK:0002048519|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales	$ 496,408	$ 277,743	$ 951,953	$ 526,929
Cost of products sold	(399,116)	(220,911)	(767,272)	(416,791)
Gross profit	97,292	56,832	184,681	110,138
Operating expenses:
Research and development	(6,438)	(5,432)	(13,139)	(10,059)
Selling, general and administrative	(55,702)	(33,574)	(114,249)	(64,298)
Amortization of purchased intangibles	(8,414)	(3,574)	(16,466)	(7,148)
Other operating income (expense)	302	(393)	1,581	(380)
Total operating expenses	(70,252)	(42,973)	(142,273)	(81,885)
Operating income	27,040	13,859	42,408	28,253
Other income (expense):
Interest expense	(11,126)	(9,303)	(22,476)	(15,806)
Other income (expense)	(592)	(7,768)	(3,451)	(12,810)
Total other income (expense)	(11,718)	(17,071)	(25,927)	(28,616)
Income (loss) before income taxes	15,322	(3,212)	16,481	(363)
Income tax (expense) benefit	(4,848)	890	(5,336)	103
Net income (loss)	10,474	(2,322)	11,145	(260)
Less: Net income (loss) attributable to non-controlling interest	(36)	(12)	(60)	(25)
Net income (loss) attributable to Aebi Schmidt Holding AG	$ 10,510	$ (2,310)	$ 11,205	$ (235)
Earnings (loss) per share
Basic earnings (loss) per share (in dollars per share)	$ 0.14	$ (0.06)	$ 0.15	$ (0.01)
Diluted earnings (loss) per share (in dollars per share)	$ 0.14	$ (0.06)	$ 0.14	$ (0.01)
Basic weighted average common shares outstanding (in shares)	77,181	40,352	77,143	40,352
Diluted weighted average common shares outstanding (in shares)	77,520	40,352	77,463	40,352

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 11,145	$ (260)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,955	13,051
Non-cash stock based compensation expense	2,576	0
Foreign exchange (gains) losses on debt	277	3,582
Non-cash financing costs	914	0
Deferred taxes	2,954	610
Pension	(237)	(344)
Other, net	(3)	(35)
Changes in operating assets and liabilities:
Accounts receivable and contract assets	20,691	(2,549)
Inventories	(45,909)	(47,886)
Accounts payable	(26,518)	26,839
Contract liabilities	9,304	(1,906)
Income tax payable and receivable	(4,344)	(4,571)
Accrued compensation and related taxes	(5,574)	0
Other assets and liabilities	(3,863)	(7,747)
Net cash used in operating activities	(10,632)	(21,216)
Cash flows from investing activities:
Purchases of property, plant and equipment	(4,592)	(5,190)
Purchases of intangible assets	0	(34)
Proceeds from sale of property, plant and equipment	1,097	679
Net cash used in investing activities	(3,495)	(4,545)
Cash flows from financing activities:
Proceeds from issuance of debt	41,756	37,365
Payments on debt	(9,460)	0
Deferred payments related to historical transactions	(916)	(5,694)
Payment of finance lease principal	(844)	(534)
Payments of dividends	(3,962)	(9,525)
Exercising and vesting of stock incentive awards	(1,189)	0
Net cash provided by financing activities	25,385	21,612
Effect of exchange rate changes on cash and cash equivalents	(36)	2,555
Net increase (decrease) in cash and cash equivalents	11,222	(1,594)
Cash and cash equivalents at beginning of period	98,512	65,173
Cash and cash equivalents at end of period	109,734	63,579
Cash paid during the period for:
Interest	$ 20,713	$ 15,703

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 109,734	$ 98,512
Accounts receivable, less allowance for credit losses of $395 and $505	276,267	310,755
Contract assets	92,868	82,342
Inventories	380,154	346,423
Prepaid expense and other current assets	38,010	39,698
Total current assets	897,033	877,730
Property, plant and equipment, net	160,459	167,899
Goodwill	409,092	403,147
Intangible assets, net	320,261	334,726
Deferred tax assets	5,687	5,910
Right of use assets operating leases	170,881	167,162
Other assets	52,298	51,705
TOTAL ASSETS	2,015,711	2,008,279
Current liabilities:
Accounts payable	207,281	234,642
Accrued warranty	16,267	17,669
Accrued compensation and related taxes	30,392	36,957
Contract liabilities	26,791	19,856
Operating lease liabilities	18,262	18,856
Other current liabilities and accrued expenses	87,272	86,366
Current portion of long-term debt	66,336	46,908
Total current liabilities	452,601	461,254
Other non-current liabilities	14,812	15,308
Long-term operating lease liabilities	150,632	144,401
Long-term debt, less current portion	493,751	488,949
Long-term loans from shareholders	57,592	59,101
Deferred tax liabilities	22,029	24,315
Total liabilities	1,191,417	1,193,328
Commitments and contingent liabilities
Shareholders' Equity:
Common stock, $1.00 par value: 79,300,000 and 79,300,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; and 77,216,828 and 76,998,754 shares outstanding as of June 30, 2026 and December 31, 2025, respectively.	77,217	76,999
Additional paid-in capital	654,231	652,425
Treasury shares, at cost	(257)	(257)
Retained earnings	64,865	57,551
Accumulated other comprehensive income	28,248	28,183
Total Shareholders’ equity attributable to Aebi Schmidt Holding AG	824,304	814,901
Non-controlling interest	(10)	50
Total Shareholders’ equity	824,294	814,951
TOTAL LIABILITIES AND EQUITY	$ 2,015,711	$ 2,008,279