Cambridge-Lee Holdings Consolidated Results of Operations for Q1 2026

Cambridge-Lee Holdings, Inc, has announced its unaudited consolidated results for the first quarter of 2026.

CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES
(A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.)

CONSOLIDATED BALANCE SHEETS
As of December 31, 2026 and December 31, 2025

Figures in US Dollars	12/31/2025			3/31/2025			3/31/2026
Assets
Current Assets:
Cash and cash equivalents	$	52,585,000		$	305,082,000			85,227,000
Accounts Receivable – Net		89,869,000			123,432,000			154,873,000
Accounts Receivable – Affiliates		43,341,000			25,808,000			47,961,000
Notes Receivable – Affiliates		26,000,000			0			26,000,000
Accounts Receivable – Refundable Income Tax		2,144,000			1,141,000			2,144,000
Other Receivables		970,000			564,000			682,000
Inventories — net		134,707,000			107,560,000			140,131,000
Other current assets		9,689,000			23,458,000			31,843,000
Short term investments		146,523,000			0			148,701,000
Deferred income taxes		0			0			(38,000	)
Total current assets		505,828,000			587,045,000			637,524,000

Property, Plant, and Equipment — Net		62,582,000			49,318,000			81,265,000
ROU Asset		4,072,000			4,645,000			3,747,000
Deferred Financing Fees — Net		65,000			104,000			52,000
Other Long-Term Assets		21,745,000			431,000			568,000
Total	$	594,292,000		$	641,543,000		$	723,156,000

Liabilities and Shareholders’ Equity

Current Liabilities:
Current portion of long-term debt		9,000			1,750,000			2,000
Revolving credit facility								0
Lease Liability – S. T.		1,323,000			1,221,000			1,301,000
Trade Accounts Payable		25,604,000			44,988,000			65,909,000
Affiliates Payable		3,945,000			5,368,000			3,510,000
Accrued expenses and taxes other than income tax		23,259,000			17,747,000			26,411,000
Deferred Income Taxes		0			0			0
Income taxes payable		1,658,000			15,439,000			23,865,000

Total current liabilities		55,798,000			86,513,000			120,998,000

Long-Term Debt					2,000			0
Long-Term Obligations — Other		5,974,000			(778,000	)		3,319,000
Lease Liability – L. T.		2,786,000			3,475,000			2,473,000
Deferred Income Taxes		914,000			2,360,000			914,000

Total liabilities		65,472,000			91,572,000			127,704,000

SHAREHOLDERS’ EQUITY:
Common stock, no par — authorized, 1,500 shares;
issued and outstanding, 1,000 shares		1,000			1,000			1,000
Additional paid-in capital		24,205,000			24,205,000			24,205,000
Investment in Parent
Excess of liabilities assumed over book value
of assets transferred		(17,514,000	)		(17,514,000	)		(17,514,000	)
Retained earnings		506,003,000			527,247,000			570,647,000
Accumulated other comprehensive income (loss)		1,726,000			(126,000	)		1,726,000
Noncontrolling owner’s interest		14,399,000			16,158,000			16,387,000
Total shareholders’ equity		528,820,000			549,971,000			595,452,000

TOTAL	$	594,292,000		$	641,543,000		$	723,156,000

	$	0		$	0		$	0

CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES
(A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.)

CONSOLIDATED STATEMENTS OF OPERATIONS
As of December 31, 2026 and December 31, 2025

Figures in US Dollars	12/31/2025			3/31/2025		3/31/2026
Revenues:
Net Sales	$	956,179,000		$	224,456,000	$	286,353,000
Cost of Sales		621,622,000			162,671,000	$	187,069,000
Gross Income		334,557,000			61,785,000		99,284,000

Selling, General and Administrative Expenses		54,130,000			11,064,000	$	13,258,000

Operating Income		280,427,000			50,721,000		86,026,000

Other Expense:
Interest — net		13,884,000			904,000	$	2,058,000
Other — net		(904,000	)		2,203,000	$	794,000
Total Other Expense		12,980,000			3,107,000		2,852,000

Income (Loss) From Continuing Operations Before Provision for Income Taxes		293,407,000			53,828,000		88,878,000

Provision (benefit) for Income Taxes		78,264,000			14,197,000	$	22,245,000

Net Income Gain (Loss) from Continuing Operations		215,143,000			39,631,000		66,633,000

Net Income (Loss)		215,143,000			39,631,000		66,633,000

Net Income Attributable to Noncontrolling Interest		6,435,000			1,185,000	$	1,989,000

Net Income Attributable to Cambridge-Lee Holdings, Inc.		208,709,000			38,447,000		64,645,000

CAMBRIDGE-LEE HOLDINGS, INC
STATEMENT OF CASH FLOW
Figures in US Dollars

	March 31, 2026
OPERATING ACTIVITIES:
Net income (loss)	66,633,000

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	1,561,000
Allowance for (benefit from) doubtful accounts receivable	276,000

Changes in assets and liabilities which provided (used) cash:
(Increase) decrease in accounts and notes receivable	(69,611,000	)
(Increase) decrease in inventories	(5,424,000	)
(Increase) decrease in prepaid expenses, deposits and other assets	(7,703,000	)
Increase (decrease) in other long term obligations	(2,656,000	)
Increase (decrease) in accounts payable, accrued exps & amounts due to affiliates	43,020,000
Change in operating lease liabilities	(16,000	)
Increase (decrease) in income taxes payable	22,246,000
Increase (decrease) in short-term investments	(2,178,000	)
Total adjustments	(20,485,000	)

net cash provided by (used in) operating activities	46,148,000

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(13,519,000	)

Net cash provided by (used in) investing activities	(13,519,000	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of debt issuance costs	13,000
Cash payment of dividends	–
Net cash provided by (used in) financing activities	13,000

EFFECT OF EXCHANGE RATE CHANGES ON CASH

Net increase in cash and cash equivalents	32,642,000
Cash and cash equivalents at beginning of period	52,585,000

Cash and cash equivalents at end of period	85,227,000