Alliance Reports First Quarter 2026 Results
Rhea-AI Summary
Alliance (NYSE:ALH) reported first quarter 2026 net revenues of $427 million, up 10% year over year. Net income was $57 million with a 13.3% margin; Adjusted Net Income reached $63 million, up about 85%.
Adjusted EBITDA rose 9% to $109 million with a 25.5% margin. Alliance generated $80 million of operating cash flow and repaid $65 million of debt, reducing net leverage to 2.6x. The company raised 2026 guidance to 6–7% revenue growth and 7–8% Adjusted EBITDA growth and completed a distributor acquisition in New York.
AI-generated analysis. Not financial advice.
Positive
- Net revenues increased 10% year over year to $427 million
- Net income rose to $57 million from $17 million, 13.3% margin
- Adjusted EBITDA grew 9% to $109 million, 25.5% margin
- Adjusted Net Income increased to $63 million from $34 million
- Operating cash flow up 76% to $80 million
- Debt reduced by $65 million; net leverage improved to 2.6x
- 2026 revenue growth guidance raised to 6–7%
- 2026 Adjusted EBITDA growth guidance raised to 7–8%
- Over 250,000 connected machines and rising transaction volumes
- Completed a distributor acquisition in New York, its 17th U.S. deal since 2019
Negative
- Total debt remains high at $1.3 billion, net debt $1.2 billion
- Net leverage, while improved, is still 2.6x
- Approximately $20 million annualized tariff exposure persists
- Incremental public company costs partially offset margin expansion
- Guided 2026 interest expense remains sizable at about $85 million
Key Figures
Market Reality Check
Peers on Argus
No peers from the Furnishings, Fixtures & Appliances group appeared in the momentum scanner, pointing to a stock-specific reaction to these earnings.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 12 | Earnings release | Positive | -11.8% | Full year 2025 revenue and EBITDA growth with leverage reduction and 2026 guide. |
| Nov 13 | Quarterly earnings | Positive | -4.9% | Q3 2025 double-digit revenue and EBITDA growth plus IPO-driven debt paydown. |
Earnings releases have shown strong fundamentals but were followed by negative price reactions, with an average move of -8.34% after prior earnings reports.
Recent history shows Alliance delivering consistent growth and deleveraging while the stock sold off on earnings. In Q3 2025, revenue and Adjusted EBITDA grew double digits and leverage fell after the IPO, yet shares dropped. Full-year 2025 results in March 2026 again highlighted revenue and EBITDA growth plus lower leverage, but the stock declined 11.76%. Today’s Q1 2026 beat and guidance raise continue this operational trajectory.
Historical Comparison
In the past two earnings reports, ALH averaged a -8.34% move despite strong growth and deleveraging, suggesting a history of weak price follow-through on solid results.
Earnings releases since late 2025 show a steady pattern: Q3 2025 and full-year 2025 delivered double-digit revenue and Adjusted EBITDA growth and meaningful deleveraging, and Q1 2026 adds continued growth plus a guidance raise for 2026.
Market Pulse Summary
This announcement highlights double-digit Q1 revenue growth to $427 million, sharp net income improvement, strong cash generation of $80 million, and further debt reduction, bringing Net Leverage to 2.6x. Management also raised 2026 revenue and Adjusted EBITDA growth guidance. In context of prior earnings that also showed growth and deleveraging, investors may focus on execution versus these higher targets and ongoing balance sheet progress.
Key Terms
adjusted ebitda financial
net leverage financial
non-gaap financial measures financial
operating cash flow financial
effective tax rate financial
AI-generated analysis. Not financial advice.
- First quarter Net revenues of
$427 million 10% versus prior year - First quarter Net income of
$57 million $17 million 13.3% ; Adjusted Net Income of$63 million 85% versus prior year - First quarter Adjusted EBITDA of
$109 million 9% versus prior year, with Adjusted EBITDA Margin of25.5% - Repaid
$65 million - Raises low end of full year 2026 guidance: revenue growth now expected at +
6% to7% and Adjusted EBITDA growth at +7% to8% 1
"Building on Alliance's strong 2025, our first quarter reinforced what we've been talking about since becoming a public company: that a resilient, replacement-driven, essential industry, a market-leading position, and disciplined operational excellence deliver strong, sustainable outcomes," said Michael Schoeb, CEO of Alliance. "Net revenues grew
1 Refer to the "Updated 2026 Full Year Guidance" and "Non-GAAP Financial Measures" sections below for additional information regarding forward-looking non-GAAP financial measures. |
FIRST QUARTER 2026 CONSOLIDATED RESULTS
Net revenues increased
Gross profit increased
Net income was
Adjusted EBITDA increased
Adjusted Net Income increased
CASH FLOW AND BALANCE SHEET
Operating cash flow for the quarter was
FIRST QUARTER 2026 RESULTS BY REPORTABLE SEGMENT
International revenue increased
FIRST QUARTER 2026 BUSINESS HIGHLIGHTS
Digital and Connected Equipment — Alliance's connected equipment continues to grow, with over 250,000 connected machines at the end of the quarter. Scan/Pay/Wash, the Company's recently launched cashless payment solution requiring no app download, processed over 100,000 transactions in March alone, with double the volume in the first quarter of 2026 vs. the fourth quarter of 2025.
Distributor Acquisition — The Company completed its second distributor acquisition in
Tariff Environment — The Company's local-for-local manufacturing strategy continues to provide a meaningful structural advantage relative to competitors with more import-dependent supply chains. Pricing actions in place continue to offset the Company's approximately
UPDATED 2026 FULL YEAR GUIDANCE
The Company's outlook includes Adjusted EBITDA and Net Leverage, which are non-GAAP measures. The Company does not provide certain estimated future results for Adjusted EBITDA and Net Leverage on a GAAP basis because the Company is unable to predict, with reasonable certainty, certain items that are excluded from Adjusted EBITDA, including but not limited to restructuring and acquisition-related charges, non-cash asset impairment charges and gains or losses from dispositions and foreign exchange gains/losses on intercompany loans. These items are uncertain and will depend on several factors, including industry conditions, and could be material to the Company's results computed in accordance with GAAP. The Company has not provided reconciliations between the Company's 2026 guidance and the most directly comparable GAAP measures because it would be too difficult to prepare a reliable
Based on the strength of first quarter performance and growing visibility to the balance of 2026, the Company is raising the low end of its full year revenue and Adjusted EBITDA guidance for 2026.
Revenue growth guidance has been raised to +
2026 Guidance | Previous | |
Revenue Growth | + | + |
Adjusted EBITDA Growth | + | + |
Net Leverage | Low 2x by end of year | |
Capex (% of Revenue) | ~ | |
Effective Tax Rate | ~ | |
Interest Expense | ||
Diluted Share Count | ~205 million | |
CONFERENCE CALL INFORMATION
Alliance will host a conference call to discuss these results at 8:00 a.m. Eastern Time today, May 12, 2026.
A live audio webcast will be available on Alliance's Investor Relations website at https://ir.alliancelaundry.com/news-events/ir-calendar. A replay of the webcast will be available after the call.
ABOUT ALLIANCE LAUNDRY
Alliance Laundry makes the world cleaner as a provider of the highest quality commercial laundry systems. Our laundry solutions are available under five respected brands, sold and supported by a global network of select distributors. We serve approximately 150 countries with a team of more than 4,000 employees. Our brands include Speed Queen®, UniMac®, Huebsch®, Primus® and IPSO®. Together, they present a full line of commercial washing machines, dryers, and ironers (with load capacities from 20–400 lb. or 9–180 kg.) and support service. You can also enjoy the superior wash and fabric care of commercial-grade laundry equipment in your home through our legendary Speed Queen® washers and dryers.
For more information, visit www.alliancelaundry.com.
NON-GAAP FINANCIAL MEASURES
We regularly review non-GAAP measures to evaluate our business, measure our performance and manage our operations, including identifying trends affecting our business, formulating business plans and making strategic decisions. We believe that non-GAAP measures provide an additional way of viewing aspects of our operations that, when viewed together with our GAAP results, provide a more complete understanding of our results of operations and the factors and trends affecting our business. These non-GAAP financial measures are also used by our management to evaluate financial results and to plan and forecast future periods. Non-GAAP financial measures should be considered a supplement to, and not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Non-GAAP financial measures used by us may differ from the non-GAAP measures used by other companies, including our competitors.
"Adjusted EBITDA" represents Net income before provision for income taxes, interest expense, depreciation and amortization and is further adjusted to exclude certain expenses not representative of our ongoing operations and other charges not involving cash outlays and "Adjusted EBITDA Margin" represents Adjusted EBITDA divided by Net revenues.
"Adjusted Net Income" represents Net income adjusted to exclude certain expenses not representative of our ongoing operations and other charges. These adjustments include, but are not limited to, refinancing and debt related costs, share-based compensation, strategic transaction costs, intangible amortization, foreign exchange on intercompany loans and other non-recurring items.
"Net Debt" represents our total debt less Cash and cash equivalents.
"Net Debt to Adjusted EBITDA" or "Net Leverage" represents total debt less Cash and cash equivalents divided by Adjusted EBITDA for the relevant period.
SEGMENT INFORMATION
Our business is organized into two reportable segments,
We define "Segment Adjusted EBITDA" as, on a segment basis, net income excluding interest income/expense, income taxes, depreciation and amortization. Segment Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments' operating performance, such as refinancing and debt related costs, share-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items which management believes are not indicative of the Company's ongoing operating performance. Segment Adjusted EBITDA is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies.
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the use of terms such as "expect," "will," "continue," or similar expressions, and variations or negatives of these words, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from what we expect. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, which include but are not limited to: expectations relating to revenues and other financial or business metrics; statements regarding the Company's plans, guidance, growth, execution, costs and cost savings and any other statements of expectation or belief. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include, but are not limited to, those related to: the high degree of competition in the markets in which we operate; our reliance on the performance of distributors, route operators, suppliers, retailers and servicers; our ability to achieve and maintain a high level of product and service quality; fluctuations in the cost and availability of raw materials; our exposure to international markets, particularly emerging markets; our exposure to costs and difficulties of acquiring and integrating complementary businesses and technologies; and our exposure to worldwide economic conditions and potential global economic downturns.
Additional information concerning these and other risks and uncertainties are contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Additional information will be made available in our quarterly reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we assume no obligation, and do not intend to, update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
ALLIANCE LAUNDRY SYSTEMS CONTACTS:
Investor Contact:
Bob Calver
Vice President, Investor Relations
ir@alliancels.com
Media Contact:
Randy Radtke
Senior Manager of Content and Creative Services
randy.radtke@alliancels.com
ALLIANCE LAUNDRY HOLDINGS INC CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (in thousands, except per share amounts) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Net revenues: | |||
Equipment, service parts and other | $ 414,706 | $ 377,718 | |
Equipment financing | 12,181 | 11,855 | |
Net revenues | 426,887 | 389,573 | |
Costs and expenses: | |||
Cost of sales | 259,463 | 235,546 | |
Cost of sales - related parties | 1,670 | 1,447 | |
Equipment financing expenses | 8,565 | 7,559 | |
Gross profit | 157,189 | 145,021 | |
Selling, general, and administrative expenses | 73,328 | 70,463 | |
Selling, general, and administrative expenses - related parties | 55 | 75 | |
Total operating expenses | 73,383 | 70,538 | |
Operating income | 83,806 | 74,483 | |
Interest expense, net | 17,888 | 44,912 | |
Other (income)/expenses, net | (6,470) | 7,121 | |
Income before taxes | 72,388 | 22,450 | |
Provision for income taxes | 15,472 | 5,221 | |
Net income | $ 56,916 | $ 17,229 | |
Comprehensive income: | |||
Net income | $ 56,916 | $ 17,229 | |
Foreign currency translation adjustment | (12,603) | 16,739 | |
Comprehensive income | $ 44,313 | $ 33,968 | |
Net income | |||
Basic | $ 0.29 | $ 0.10 | |
Diluted | $ 0.28 | $ 0.10 | |
Weighted average number of common shares outstanding | |||
Basic | 197,869 | 170,639 | |
Diluted | 203,281 | 174,653 | |
ALLIANCE LAUNDRY HOLDINGS INC CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share and per share amounts) | |||
March 31, 2026 | December 31, 2025 | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 129,349 | $ 123,102 | |
Restricted cash | 1,683 | 3,602 | |
Restricted cash - for securitization investors | 21,330 | 22,999 | |
Accounts receivable, net | 109,402 | 113,651 | |
Inventories, net | 162,084 | 146,039 | |
Inventories, net - related parties | 1,121 | 821 | |
Accounts receivable, net - restricted for securitization investors | 143,266 | 141,973 | |
Equipment financing receivables, net | 2,018 | 2,822 | |
Equipment financing receivables, net - restricted for securitization investors | 94,007 | 92,011 | |
Prepaid expenses and other current assets | 28,139 | 28,862 | |
Total current assets | 692,399 | 675,882 | |
Equipment financing receivables, net | 2,579 | 4,913 | |
Property, plant, and equipment, net | 255,753 | 265,250 | |
Operating lease right-of-use assets | 20,837 | 20,741 | |
Equipment financing receivables, net - restricted for securitization investors | 482,158 | 470,408 | |
Deferred income tax asset, net | 3,245 | 3,169 | |
Debt issuance costs, net | 3,164 | 3,461 | |
Goodwill | 682,227 | 684,230 | |
Intangible assets, net | 741,973 | 754,737 | |
Other long-term assets | 3,413 | 3,097 | |
Total assets | $ 2,887,748 | $ 2,885,888 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Current portion of long-term debt | $ 100 | $ 113 | |
Accounts payable | 153,837 | 128,662 | |
Accounts payable - related parties | 1,969 | 1,852 | |
Asset backed borrowings - owed to securitization investors | 190,068 | 194,180 | |
Current operating lease liabilities | 6,031 | 5,927 | |
Other current liabilities | 153,770 | 153,592 | |
Total current liabilities | 505,775 | 484,326 | |
Long-term debt, net | 1,290,451 | 1,354,636 | |
Asset backed borrowings - owed to securitization investors | 430,268 | 424,406 | |
Deferred income tax liability | 168,427 | 169,355 | |
Long-term operating lease liabilities | 15,679 | 15,745 | |
Other long-term liabilities | 47,004 | 45,302 | |
Total liabilities | 2,457,604 | 2,493,770 | |
Stockholders' equity: | |||
Redeemable preferred stock, | — | — | |
Common stock, | 1,982 | 1,975 | |
Additional paid-in capital | 503,075 | 509,369 | |
Accumulated deficit | (119,488) | (176,404) | |
Accumulated other comprehensive income | 44,575 | 57,178 | |
Total stockholders' equity | 430,144 | 392,118 | |
Total liabilities and stockholders' equity | $ 2,887,748 | $ 2,885,888 | |
ALLIANCE LAUNDRY HOLDINGS INC CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) | ||||
Three Months Ended March 31, | ||||
2026 | 2025 | |||
Cash flows from operating activities: | ||||
Net income | $ 56,916 | $ 17,229 | ||
Adjustments to reconcile Net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 22,504 | 23,314 | ||
Amortization and extinguishment of debt issuance costs | 554 | 511 | ||
Amortization of original issue discount | 581 | 398 | ||
Non-cash interest (income) expense | (4,290) | 5,721 | ||
Non-cash (gain)/loss on commodity & foreign exchange contracts, net | (369) | 24 | ||
Non-cash foreign exchange (gain)/loss, net | (6,475) | 6,065 | ||
Non-cash stock-based compensation | 1,256 | 1,003 | ||
Loss on sale of property, plant, and equipment | 7 | 94 | ||
Provision for credit losses | 2,051 | 551 | ||
Deferred income taxes | (473) | (4,360) | ||
Changes in assets and liabilities, net of the effects of acquisitions: | ||||
Accounts and equipment financing receivables, net | 1,627 | 5,317 | ||
Accounts receivable - restricted for securitization investors | (1,353) | (21,018) | ||
Inventories, net | (14,015) | (12,304) | ||
Inventories, net - related party | (300) | 176 | ||
Equipment financing receivables, net - restricted for securitization investors | (17,493) | (5,928) | ||
Other assets | 7,672 | 523 | ||
Accounts payable | 27,328 | 21,348 | ||
Accounts payable - related parties | 117 | (78) | ||
Other liabilities | 4,024 | 6,840 | ||
Net cash provided by operating activities | 79,869 | 45,426 | ||
Cash flows from investing activities: | ||||
Capital expenditures | (5,187) | (8,478) | ||
Acquisition of businesses, net of cash acquired | (3,185) | (2,042) | ||
Proceeds on disposition of assets | 66 | 142 | ||
Originations of equipment financing receivables, net - restricted for securitization investors | (14,224) | (15,843) | ||
Collections of equipment financing receivables, net - restricted for securitization investors | 16,113 | 14,885 | ||
Net cash used in investing activities | (6,417) | (11,336) | ||
Cash flows from financing activities: | ||||
Payments on long-term borrowings | (65,000) | — | ||
Increase in asset backed borrowings owed to securitization investors | 47,644 | 60,047 | ||
Decrease in asset backed borrowings owed to securitization investors | (45,895) | (50,004) | ||
Repurchase of common stock | — | (1,912) | ||
Taxes paid related to net share settlement of stock options | (7,612) | — | ||
Net proceeds from stock options exercised | 69 | — | ||
Net cash (used in)/provided by financing activities | (70,794) | 8,131 | ||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 1 | 505 | ||
Increase in cash, cash equivalents, and restricted cash | 2,659 | 42,726 | ||
Cash, cash equivalents, and restricted cash at beginning of period | 149,703 | 188,042 | ||
Cash, cash equivalents, and restricted cash at end of period | $ 152,362 | $ 230,768 | ||
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets: | ||||
Cash and cash equivalents | $ 129,349 | $ 204,648 | ||
Restricted cash | 1,683 | 2,719 | ||
Restricted cash - for securitization investors | 21,330 | 23,401 | ||
Total cash, cash equivalents, and restricted cash shown in the Statement of Cash Flows | $ 152,362 | $ 230,768 | ||
Supplemental disclosure of cash flow information: | ||||
Cash paid for interest | $ 22,468 | $ 25,170 | ||
Cash paid for interest - to securitized investors | $ 7,462 | $ 7,565 | ||
Cash paid for income taxes | $ 3,447 | $ 1,959 | ||
Supplemental disclosure of investing and financing non-cash activities: | ||||
Capital expenditures included in accounts payable | $ 2,003 | $ 3,376 | ||
ALLIANCE LAUNDRY HOLDINGS INC. SEGMENT SUMMARY | ||||
The following table presents revenue by segment, Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin: | ||||
(Unaudited) | ||||
Three Months Ended March 31, | ||||
(in thousands) | 2026 | 2025 | ||
Segment net revenues | $ 319,819 | $ 292,319 | ||
Segment adjusted EBITDA | $ 86,928 | $ 80,776 | ||
Segment adjusted EBITDA margin | 27.2 % | 27.6 % | ||
International | ||||
Segment net revenues | $ 107,068 | $ 97,254 | ||
Segment adjusted EBITDA | $ 32,558 | $ 28,800 | ||
Segment adjusted EBITDA margin | 30.4 % | 29.6 % | ||
Selected financial information for each segment is as follows: | |||||||||||
(Unaudited) | |||||||||||
Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 | ||||||||||
(in thousands) | International | Total | International | Total | |||||||
Net revenues | $ 319,819 | $ 107,068 | $ 426,887 | $ 292,319 | $ 97,254 | $ 389,573 | |||||
Cost of sales(1) | 203,958 | 64,715 | 185,268 | 58,517 | |||||||
Other segment items(2) | 28,933 | 9,795 | 26,275 | 9,937 | |||||||
Segment Adjusted EBITDA | $ 86,928 | $ 32,558 | $ 119,486 | $ 80,776 | $ 28,800 | $ 109,576 | |||||
Reconciling items: | |||||||||||
Interest expense, net | (17,888) | (44,912) | |||||||||
Depreciation and amortization | (22,504) | (23,314) | |||||||||
Refinancing and debt related costs | (5) | (1,056) | |||||||||
Foreign exchange gain/(loss) on intercompany loans, net | 6,475 | (6,065) | |||||||||
Share-based compensation | (1,895) | (1,003) | |||||||||
Strategic transaction costs | (815) | (862) | |||||||||
Corporate and other | (10,466) | (9,914) | |||||||||
Income before taxes | $ 72,388 | $ 22,450 | |||||||||
(1) | Consists of Cost of sales, Cost of sales - related parties and Equipment financing expenses for |
(2) | Other segment items for each reportable segment includes allocated engineering, sales and marketing, information technology, and certain other overhead expenses. |
ALLIANCE LAUNDRY HOLDINGS INC. RECONCILIATION SCHEDULES | |||
The following table presents a reconciliation of Net income to the non-GAAP financial measure adjusted | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
(in thousands, except percentages) | 2026 | 2025 | |
Net income | $ 56,916 | $ 17,229 | |
Provision for income taxes | 15,472 | 5,221 | |
Interest expense, net | 17,888 | 44,912 | |
Depreciation and amortization | 22,504 | 23,314 | |
Refinancing and debt related costs | 5 | 1,056 | |
Foreign exchange (gain)/loss on intercompany loans, net | (6,475) | 6,065 | |
Share-based compensation | 1,895 | 1,003 | |
Strategic transaction costs | 815 | 862 | |
Adjusted EBITDA | 109,020 | 99,662 | |
Net revenues | 426,887 | 389,573 | |
Net income margin | 13.3 % | 4.4 % | |
Adjusted EBITDA margin | 25.5 % | 25.6 % | |
The following table presents a reconciliation of Net income to Adjusted net income: | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
(in thousands, except per share data) | 2026 | 2025 | |
Net income | $ 56,916 | $ 17,229 | |
Amortization of intangible assets | 11,824 | 13,124 | |
Refinancing and debt related costs | 5 | 1,056 | |
Foreign exchange (gain)/loss on intercompany loans, net | (6,475) | 6,065 | |
Share-based compensation | 1,895 | 1,003 | |
Strategic transaction costs | 815 | 862 | |
Tax effect of add backs | (1,637) | (5,085) | |
Adjusted net income | $ 63,343 | $ 34,254 | |
Net income per share attributable to common stockholders - diluted: | $ 0.28 | $ 0.10 | |
Adjusted net income per share attributable to common stockholders - diluted: | $ 0.31 | $ 0.20 | |
The following table presents the calculation of last twelve months (LTM) adjusted EBITDA for purposes of calculating Net debt to Adjusted EBITDA: | |||||||
(Unaudited) | |||||||
(in thousands) | Three Months | Add: Year Ended | Less: Three | LTM March 31, | |||
Net income | $ 56,916 | $ 101,755 | $ 17,229 | $ 141,442 | |||
Provision for income taxes | 15,472 | 36,279 | 5,221 | 46,530 | |||
Interest expense, net | 17,888 | 150,501 | 44,912 | 123,477 | |||
Depreciation and amortization | 22,504 | 93,701 | 23,314 | 92,891 | |||
Refinancing and debt related costs | 5 | 3,679 | 1,056 | 2,628 | |||
Foreign exchange (gain)/loss on intercompany loans, net | (6,475) | 25,152 | 6,065 | 12,612 | |||
Share-based compensation | 1,895 | 19,779 | 1,003 | 20,671 | |||
Strategic transaction costs | 815 | 5,627 | 862 | 5,580 | |||
Adjusted EBITDA | $ 109,020 | $ 436,473 | $ 99,662 | $ 445,831 | |||
The following table presents a reconciliation of Debt to Net Debt and Net Debt to Adjusted EBITDA: | |||
(Unaudited) | |||
(in thousands) | March 31, 2026 | December 31, 2025 | |
Term loan | $ 1,300,000 | $ 1,365,000 | |
Finance lease obligations | 201 | 236 | |
Debt | 1,300,201 | 1,365,236 | |
Less: Cash and cash equivalents | (129,349) | (123,102) | |
Net debt | $ 1,170,852 | $ 1,242,134 | |
LTM adjusted EBITDA | $ 445,831 | $ 436,473 | |
Net Debt to Adjusted EBITDA | 2.6 x | 2.8 x | |
View original content to download multimedia:https://www.prnewswire.com/news-releases/alliance-reports-first-quarter-2026-results-302768730.html
SOURCE Alliance Laundry Systems