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IBC Advanced Alloys Reports Improved Financial Results for the Quarter Ended March 2026
IBC Advanced Alloys Reports Improved Financial Results for the Quarter Ended March 2026
Highlights
(Unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars. IBC is reporting the performance of "continuing operations" at its Copper Alloy division, "discontinued operations" at its Massachusetts facility, and a combination of continuing and discontinued operations.1
Fiscal year-to-date (YTD) sales of $13.8 million increased by 6.4% over the comparable prior-year period, driven primarily by sharply higher naval defense sector demand.
YTD gross profit of $2,528,000 increased by 7.8% year-over-year (Y/Y) while gross profit in the quarter of $800,000 declined 13.5% Q/Q due to a one-time supply chain constraint that has since been corrected.
On a consolidated basis, operating income and adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA)1 in the quarter increased Y/Y, largely driven by stronger sales and lower costs in the now-shuttered Engineered Materials (EM) division.
On a consolidated basis, YTD loss of $2 million was lower compared to the comparable prior-year period largely due to higher sales and reduced costs.
FRANKLIN, IN / ACCESS Newswire / May 29, 2026 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX-V:IB)(OTCQB:IAALF) announces its financial results for the quarter ended March 31, 2026.
Stronger demand for Company's copper alloy products, primarily from the naval defense sector, boosted revenue in the quarter by 5.7% and by 6.4% YTD over the comparable prior-year periods. Demand for IBC's products continues to strengthen following softer demand in 2025 due to market uncertainty over the application of the U.S. Government's copper tariffs.
In the nine months ended March 31, 2026, the Company narrowed losses in operating and net income over the comparable prior-year period, and posted Adjusted EBITDA of $208,000, reversing a loss of $982,000 in the prior-year period.
Selected Results
Unless otherwise noted, all financial amounts are calculated following IFRS.1
SELECTED RESULTS: ($000s) | ||||||||||||||||
Quarter Ended | Quarter Ended | Nine Months Ended | Nine Months Ended | |||||||||||||
CONTINUING OPERATIONS | ||||||||||||||||
Revenue | $ | 4,773 | $ | 4,516 | $ | 13,807 | $ | 12,976 | ||||||||
Operating loss | $ | (274 | ) | $ | (81 | ) | $ | (230 | ) | $ | (735 | ) | ||||
Net loss | $ | (765 | ) | $ | (533 | ) | $ | (1,692 | ) | $ | (2,312 | ) | ||||
Adjusted EBITDA | $ | 131 | $ | 255 | $ | 534 | $ | (126 | ) | |||||||
Gross Profit | $ | 800 | $ | 925 | $ | 2,528 | $ | 2,345 | ||||||||
Gross Margin | 17 | % | 20 | % | 18 | % | 18 | % | ||||||||
DISCONTINUED OPERATIONS | ||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | ||||||||
Operating loss | $ | (113 | ) | $ | (174 | ) | $ | (326 | ) | $ | (882 | ) | ||||
Net income loss | $ | (128 | ) | $ | (192 | ) | $ | (383 | ) | $ | (1,020 | ) | ||||
Adjusted EBITDA | $ | (113 | ) | $ | (163 | ) | $ | (326 | ) | $ | (856 | ) | ||||
CONSOLIDATED OPERATIONS | ||||||||||||||||
Revenue | $ | 4,773 | $ | 4,516 | $ | 13,807 | $ | 12,976 | ||||||||
Operating loss | $ | (387 | ) | $ | (255 | ) | $ | (556 | ) | $ | (1,617 | ) | ||||
Net loss | $ | (893 | ) | $ | (725 | ) | $ | (2,075 | ) | $ | (3,332 | ) | ||||
Adjusted EBITDA | $ | 18 | $ | 92 | $ | 208 | $ | (982 | ) | |||||||
"Demand for IBC's copper alloy products, particularly aluminum-nickel-bronze, continues to rise driven by increasing demand from the naval defense sector, as we had anticipated," said Mark A. Smith, CEO and Executive Chairman of IBC. "In addition, our success in October 2025 in producing finished aluminum-scandium alloy has opened up new potential markets for IBC, and we are exploring potential sales channels for this powerful alloy across several sectors."
Nickel-aluminum bronze (NAB) is one of the most widely used copper alloys in naval applications, valued for its combination of seawater corrosion resistance, high strength, and resistance to biofouling and cavitation. Its primary uses include propellers and propulsion; valves, pumps, and fittings; shafting and bearings; hull and structural hardware; and weapons and deck systems.
The Navy's latest 30-year plan targets a fleet of 450+ ships - a mix of manned warships and large unmanned surface/underwater vessels. The FY2027-FY2031 window calls for more than $305 billion in battle-force shipbuilding, with the broader Future Years Defense Program covering 122 ships and 63 autonomous systems. Congress has been backing this with large appropriations: roughly $27 billion for Navy shipbuilding in 2026 and a separate authorization bill adding tens of billions more.
Full results are available in the Company's financial statements and management's discussion and analysis ("MD&A"), which can be accessed at sedarplus.ca and on the Company's website at https://ibcadvancedalloys.com/investors-center/.
For more information on IBC and its innovative alloy products, go here: https://www.ibcadvancedalloys.com
On Behalf of the Board of Directors:
"Mark A. Smith"
Mark A. Smith, CEO & Chairman of the Board
# # #
CONTACTS:
Mark A. Smith, Chairman of the Board
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: [email protected]
Website: www.ibcadvancedalloys.com
ABOUT IBC ADVANCED ALLOYS CORP.
IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, aluminum bronze and aluminum-scandium. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, the Company's expectation of further growth in revenue and market demand, and the ability of the Copper Alloy division to increase its production capacity, reduce unit costs of production, expand its product portfolio and expand into new markets, the closure of the Engineered Materials division and ongoing expenses in connection therewith, potential market demand for shaped alloy parts and Al-Sc alloy components, and future copper and scandium alloy market conditions generally. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the risk that the Company may not be able to make sufficient payments to retire its debt, the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, imposition of tariffs, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Please see "Risk Factors" in our Annual Information Form available under the Company's profile at www.sedarplus.ca, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
1 We report non-IFRS measures such as "Adjusted EBITDA". Please see information on this and other non-IFRS measures in the "Non-IFRS Measures" section of this news release and in IBC's MD&A, available on sedarplus.ca
SOURCE: IBC Advanced Alloys Corp.
View the original press release on ACCESS Newswire
P.M.Martin--SMC
