Amrize (AMRZ) Q1 FY2026 earnings: revenue $2.2 billion, up 4.3% on the year

Amrize Ltd. (AMRZ) reported revenue of $2.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.3% on the same quarter a year earlier. Net income was -$105 million, and diluted earnings per share $-0.19. The figures are the company's own, from the 10-Q it filed with the SEC on 7 May 2026.

Revenue$2.2 billionup 4.3%

Net income-$105 million

Diluted EPS$-0.19

QuarterQ1 FY2026ended 31 March 2026

The quarter, against the one before and a year earlier

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Revenue	2,178	2,839	2,089	+4.3%
Cost of revenue	1,973	2,079	1,852	+6.5%
Gross profit	208	760	237	-12.2%
Gross margin	9.6%	26.8%	11.3%
Selling, general and administrative	285	278	243	+17.3%
Operating income	-72.0	475	-5.0	n/a
Operating margin	-3.3%	16.7%	-0.2%
Interest expense	78.0	92.0	132	-40.9%
Pre-tax income	-145	392	-133	n/a
Income tax	-41.0	100	-46.0	n/a
Effective tax rate	n/a	25.5%	n/a
Net income	-105	298	-94.0	n/a
Net margin	-4.8%	10.5%	-4.5%
Diluted EPS	-$0.19	$0.54	-$0.17	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Operating cash flow	-893	1,804	-847	n/a
Capital expenditure	275	157	213	+29.1%
Free cash flow	-1,168	1,647	-1,060	n/a
Free cash flow margin	-53.6%	58.0%	-50.7%
Cash from investing	-662	-150	-62.0	n/a
Cash from financing	743	-577	-104	n/a
Depreciation and amortisation	198	203	181	+9.4%
Share-based compensation	9.0	8.0	1.0	+800.0%
Diluted shares, weighted	553m	554m	553m	+0.0%
Shares outstanding at period end	554m	553m	554m	-0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Shareholders' equity	13,094	13,258	9,750	+34.3%
Non-controlling interest	-6.0	-4.0	n/a	n/a
Short-term borrowings	n/a	0.0	n/a	n/a
Debt	6,046	5,269	n/a	n/a
Operating lease liabilities	492	500	n/a	n/a
Finance lease liabilities	312	327	n/a	n/a
Other liabilities	4,331	4,899	n/a	n/a
Total liabilities and equity	24,269	24,249	n/a	n/a
Goodwill	9,070	9,020	n/a	n/a
Intangible assets	1,703	1,728	n/a	n/a
Cash and equivalents	1,099	1,922	574	+91.5%
Inventory	1,567	1,551	n/a	n/a
Other assets	10,830	10,028	n/a	n/a
Total assets	24,269	24,249	n/a	n/a

Questions

What was Amrize's revenue in Q1 FY2026?

Amrize (AMRZ) reported revenue of $2.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.3% on the same quarter a year earlier.

How much did Amrize earn in Q1 FY2026?

Net loss for Q1 FY2026 was $105 million, and the diluted loss per share $0.19.

When did Amrize report Q1 FY2026 results?

Amrize filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 7 May 2026.

Quarterly results, the last 8 quarters

	Q2 FY2024	Q3 FY2024	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026 †	Q2 FY2026
Revenue	3,243	3,446	2,089	3,220	3,675	2,839	2,178	3,494
Cost of revenue	2,264	2,404	1,852	2,277	2,589	2,079	1,973	2,501
Gross profit	979	1,042	237	941	1,086	760	208	993
Gross margin	30%	30%	11%	29%	30%	27%	10%	28%
SG&A	228	241	243	286	312	278	285	283
Operating income	754	844	-5.0	657	778	475	-72.0	711
Operating margin	23%	24%	-0%	20%	21%	17%	-3%	20%
Interest expense	138	137	132	143	94.0	92.0	78.0	94.0
Pre-tax income	620	703	-133	537	689	392	-145	621
Tax rate	24%	22%	n/a	23%	22%	26%	n/a	24%
Net income	474	553	-94.0	417	545	298	-105	478
Net margin	15%	16%	-4%	13%	15%	10%	-5%	14%
Diluted EPS	$0.86	$1.00	-$0.17	$0.75	$0.98	$0.54	-$0.19	$0.86
Operating cash flow	n/a	623	-847	406	854	1,804	-893	421
Capital expenditure	n/a	221	213	235	185	157	275	248
Free cash flow	n/a	402	-1,060	171	669	1,647	-1,168	173
Shares outstanding	553m	553m	554m	553m	553m	553m	554m	550m
Filing	10-Q	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 7 May 2026: the filing.