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Growth International (AFN) investor relations material
Growth International Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue fell 13% YoY to $340.5M and Adjusted EBITDA fell 45% to $39.0M; Farm growth was offset by Commercial weakness and Brazil project costs and bad debt.
Q3 net loss attributable to shareholders was $16.1M; 9M revenue was $945.8M and shareholder net loss was $99.2M.
Priorities include cash generation, debt reduction, structural cost savings and operating simplification; net debt declined for a second consecutive quarter.
Financial highlights
Q3 revenue was $340.5M versus $389.4M; Adjusted EBITDA was $39.0M versus $71.0M. 9M Adjusted EBITDA was $107.5M versus $156.5M.
Q3 basic and diluted EPS were both $(0.85); 9M basic and diluted EPS were both $(5.26).
Q3 free cash flow was $26.8M versus cash use of $2.4M a year earlier; LTM free cash flow was negative $8.7M versus negative $59.4M.
YTD SG&A declined $15.0M, or $20.4M excluding Q3 Brazil bad debt expense; annualized structural savings remain on track to exceed $30M.
Total order book was $431.9M, down 35% YoY; excluding Brazil Long-Term Financed Projects, it was $422.4M, down 17%.
Outlook and guidance
No formal Q4 guidance was given; management expected commercial pressure to persist and Q4 trends to be similar to Q3.
Farm improvement is expected to continue; the early order program supports visibility into H1 2027 production schedules.
Brazil project roll-off will weigh on 2027 YoY comparisons, with a revenue gap of $180M to fill against the 2026 comparison.
Priorities include rebuilding Commercial orders, tighter project selection and execution, footprint optimization, facility-level accountability and cash generation.
- Operational reset targets savings and debt reduction as 2026 results soften.AFN
Investor presentation - Farm growth and cash flow gains offset by commercial softness and lower order book.AFN
Q2 2026 - Revenue and EBITDA declined, but leverage should improve after Brazil receivable monetization.AFN
Q1 2026 - Revenue up 4%, EBITDA down 38%; restructuring and cost cuts target margin recovery.AFN
Q4 2025 - Strong organic growth, margin expansion, and global reach drive long-term value creation.AFN
Investor presentation - Strong Commercial growth in Q3 2025 offset Farm weakness, but cash flow and margin pressures persist.AFN
Q3 2025 - Record order book, resilient margins, and share buyback offset U.S. farm market softness.AFN
Q3 2024 - Record order book and Commercial strength offset Q2 declines, supporting robust 2024 outlook.AFN
Q2 2024 - Record Q4 EBITDA and robust international Commercial growth offset Farm segment weakness.AFN
Q4 2024
Next Growth International earnings date
Next Growth International earnings date
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