0001193125-26-173920
SEC filingRevenue grew 11.3% to $393.7M, driven by automotive volumes and favorable FX, while operating income fell 33.9% to $11.3M due to transaction costs.
Product revenues increased 11.3% to $393.7 million in the first quarter of 2026, compared to $353.9 million in the same period last year. The growth was primarily driven by favorable automotive volumes and favorable foreign currency impacts, particularly from the Euro and Chinese Renminbi. These gains were partially offset by unfavorable pricing and unfavorable currency impacts from the Korean Won. The company's ability to capture higher volumes reflects its strong alignment with major customers' product strategies and its global manufacturing footprint.
Macroeconomic conditions continue to cause fluctuating demand, production disruptions, and input cost inflation. Forecasted light vehicle production volumes are a key input for future business planning, but these forecasts are updated monthly and subject to significant variability. The company remains focused on aligning its operations with customer strategies to mitigate risks and capture growth opportunities.