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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Bureau Veritas
Bureau Veritas (BVI) investor relations material
Bureau Veritas Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary21 Oct, 2026
Executive summary
Q3 revenue was €1,569.7m, up 10.1% year over year, with organic growth accelerating to 6.2% from 5.9% in Q2; growth was broad across divisions and geographies.
FY 2026 guidance was confirmed; the 2027–2028 total revenue growth target was upgraded to a double-digit CAGR at constant currency as LEAP | 2028 enters an amplified execution phase.
Financial highlights
Q3 revenue rose to €1,569.7m from €1,425.2m, up 10.1% reported and 8.0% at constant currency; organic growth was 6.2%, with scope +1.8% and currency +2.1%.
9M revenue reached €4,513.8m, up 4.9% reported and 6.1% at constant currency; organic growth was 5.7%, scope +0.4% and currency -1.2%.
Outlook and guidance
FY 2026 guidance confirmed: mid- to high-single-digit organic revenue growth, adjusted operating margin improvement at constant exchange rates and strong cash flow generation.
2027–2028 ambition: double-digit total revenue growth at constant currency, supported by accelerated M&A and performance initiatives.
2028 targets include consistent margin improvement, cash conversion above 90%, leverage of 1.5x–2x net debt/EBITDA and double-digit shareholder returns.
AI ambitions for 2030: €800m revenue from AI-driven markets and €200m from AI-related services; AI integration across 60% of the portfolio.
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Latest events from Bureau Veritas
- Double-digit growth targeted for 2027–2028, with €1bn AI-driven revenue by 2030.BVI
CMD 2026 - Upgraded 2026 outlook after 5.0% organic growth and margin gains, driven by portfolio rotation.BVIH1 2026
- 2025 saw robust growth, a higher dividend, and all AGM resolutions passed amid strategic transformation.BVIAGM 2026
- Q1 2026 organic growth was 4.5%, led by B&I and M&O, despite a 0.8% total revenue decline.BVIQ1 2026 TU
- 6.5% organic growth, margin up, strong cash flow, and positive outlook for 2026.BVIQ4 2025
- H1 2025 organic revenue up 6.7%, margin at 15.4%, and six acquisitions completed.BVIH1 2025
- Q3 2024 revenue up 8.8% to €1,555m; 2024 organic growth outlook raised to 9–10%.BVIQ3 2024 TU
- Record H1 2024: 9.2% organic growth, 15% margin, strong cash flow, and upgraded outlook.BVIH1 2024
- Record 2024 growth, margin gains, and strong cash flow with a positive 2025 outlook.BVIH2 2024
Next Bureau Veritas earnings date
Q4 202625 Feb, 2027
Bureau Veritas
Next Bureau Veritas earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
The Bureau of Truth
Bureau Veritas is a French company with multinational operations that specializes in testing, inspection, and certification services. The company focuses on several sectors, including marine, industry, infrastructure, and commodities. Bureau Veritas provides services aimed at ensuring compliance with standards related to quality, health and safety, environmental protection, and similar areas. It is headquartered just outside Paris, France, and its shares are traded on the XPAR.
Antwerp to Paris
Bureau Veritas, founded in Antwerp in 1828 (but moved to Paris a few years later), began as a maritime classification society. Its initial purpose was to provide insurance companies with information necessary to assess the condition of ships and their equipment. Over the years, Bureau Veritas evolved beyond the shipping industry, adapting to changing market needs. The company expanded its expertise into industry, construction, and certification services. This growth was marked by strategic acquisitions and geographic expansion, enabling Bureau Veritas to offer a wide range of testing, inspection, and certification services across various sectors. Today, it operates as a global leader in conformity assessment and certification services, together with companies such as Intertek, Eurofins Scientific, and SGS.
The Services
As previously mentioned, Bureau Veritas provides services such as quality assurance, health and safety management, environmental impact assessments, and sustainability audits. In the maritime sector, Bureau Veritas continues its traditional role in ship classification and safety certification. In construction and infrastructure, the company ensures building and facility compliance with regulatory standards. Additionally, Bureau Veritas is involved in various industries including energy, automotive, and aerospace, offering tailored services to meet the specific needs of each sector.
Acquisitions and Partnerships
Growth through acquisitions has been a red thread throughout the company’s history and is something that it continues to do to this day. Bureau Veritas has acquired a number of different companies in the industry throughout the 2000s, most notably a number of Chinese companies. This has been done in order to expand the company’s geographical footprint, and Bureau Veritas is today active in more or less every corner of the world. Partnerships with various other companies, including Microsoft, are also employed in order to help grow the business.