Megawide Q1 2026 net income up 26%

Listed engineering firm Megawide Construction Corp. on Thursday reported a 26% growth in its net income for the first quarter of the year, driven by double-digit growth in its consolidated revenues amid improved results across its portfolio.

Megawide’s first-quarter net income grew to P265 million, with construction delivering P262 million and real estate P14.0 million, while the landport business posted a slight loss during the period.

Consolidated revenues increased by 14% to P4.81 billion, with construction accounting for P3.84 billion, and real estate at P831 million.

The company ended the quarter with a P48.7-billion construction book, with about 11,000 socialized housing units being constructed under the government’s housing program.

“Our results in the first three months [are] consistent with our back-ended target for the year. While we sustained a healthy performance early on, we have yet to quantify the impact of the Middle East war and a newly replenished construction order book in the coming months,” Megawide chairman and chief executive officer Edgar Saavedra said in a regulatory filing.

“Nonetheless, we are actively assessing the situation and strategically evaluating the developments to keep us on track with our goals,” he added.

Megawide in January said it was looking to spend up to P2 billion to expand its precast construction facilities, betting on sustained demand as a large number of Filipinos remain without homes.

Megawide’s subsidiaries include PH1 World Developers Inc., Megawide Land Inc., Megawide Construction (BVI) Corp., Megawide Cold Logistics Inc., MWM Terminals Inc., Megawide Terminals Inc., and Megawide International Limited, among others. —VBL, GMA News