Quarterly ResultMay 7, 2026, 04:34 PM
GPGI Q1 Net Sales $0, Net Loss $(235.0)M; Husky Acquisition Transforms Structure
AI Summary
GPGI, Inc. reported a net loss of $(235.0) million for Q1 2026, a significant decline from a net income of $21.5 million in Q1 2025. Net sales were $0.0 million, down from $59.8 million year-over-year, as the company's operating businesses, including the recently acquired Husky Technologies Limited, are now accounted for under the equity method. The Husky acquisition, valued at approximately $4.976 billion, completed on January 12, 2026, fundamentally transformed GPGI into a permanent capital platform.
Key Highlights
- Net loss for Q1 2026 was $(235.0) million, compared to net income of $21.5 million in Q1 2025.
- Net sales for Q1 2026 were $0.0 million, down from $59.8 million in Q1 2025.
- Basic net loss per share was $(0.87) in Q1 2026, versus net income per share of $0.21 in Q1 2025.
- Equity method investment increased to $3,133.2 million as of March 31, 2026, from $125.5 million at December 31, 2025.
- Cash and cash equivalents decreased to $6.5 million as of March 31, 2026, from $114.6 million at December 31, 2025.
- Net cash used in operating activities was $(52.6) million in Q1 2026, compared to net cash provided of $3.0 million in Q1 2025.
- The Husky acquisition was completed on January 12, 2026, for an enterprise value of approximately $4.976 billion.
Price Impact
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