May 19, 2026
Woodcats International Limited (WOODCATS)
Unaudited financials for the first quarter ended March 31, 2026:
Woodcats International Limited (WOODCATS) for the first quarter ended March 31, 2026, reported a 5% decrease in revenue totalling $241.88 million compared to $255.34 million in the corresponding three months last year, reflecting the trailing impact of Hurricane Melissa, other climactic factors, and seasonality of sales as demand from manufacturers and other key customers declined through the first two months of the quarter before normalising in March.
Year to date, Cost of Sales amounted to $149.20 million (2025: $167.96 million), this represents a decrease of 11% year over year. Consequently, gross profit increased by 6% to $92.68 million compared to $87.38 million for the first quarter ended March 31, 2025.
Year to date, administrative expenses increased by 8%, to $67.73 million (2025: $62.85 million). As a result, operating profit for the three months amounted to $25.17 million, a 6% decrease relative to $26.67 million reported in 2025. Net finance costs totalled $6.10 million, a 34% increase from $4.57 million in the corresponding period last year.
Profit before Taxation for the first quarter ended March 31, 2026, amounted to $19.07 million, a 14% decrease relative to $22.10 million reported in 2025.
The tax charge incurred for the three months amounted to $4.77 million (2025: $5.53 million). As a result, Net Profit for the three months amounted to $14.30 million, a 14% decrease from the $16.58 million reported in 2025.
Consequently, Earnings Per Share for the three months amounted to $0.01 (2025: EPS: $0.01). The twelve-month trailing EPS was $0.05 and the number of shares used in these calculations was 2,384,607,769. Notably, WOODCATS’ stock price closed the trading period on May 18, 2026 at a price of $0.75 with a corresponding P/E ratio of 16.35x.
Balance Sheet Highlights
The company’s assets totalled $1.29 billion (2025: $892.52 million). The movement in total assets was primarily attributable to a 78% increase in ‘Inventories’ amounting to $346.55 million (2025: $195.16 million), supported by an expansion of cash balances to $295.02 million following the receipt of IPO proceeds. These movements were partially offset by a 5% decline in ‘Receivables and prepayments’ amounting to $170.83 million (2025: $179.48 million) and a reduction in non-current assets to $355.74 million on lower investments.
Shareholders’ equity was $1.02 billion (2025: $556.68 million), representing a book value per share of $0.43 (2025: $0.35). The 83% YoY equity expansion reflects $364.34 million in net IPO proceeds received during Q1 2026 alongside continued retained earnings growth.
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