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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.
Coats Group
Coats Group (COA) investor relations material
Coats Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary28 Jul, 2026
Executive summary
Achieved 1% organic revenue growth to $837m in H1 2026, outperforming markets that declined mid-single digit, with strong gains in Apparel and Footwear and a 19.8% EBIT margin.
Maintained strong EBIT margin just below 20% despite significant investments in technology and growth.
OrthoLite integration progressing well, with $40m in annual sales synergies identified and cost synergies on track.
Apparel division gained substantial market share, especially in China and automotive threads; leadership in recycled thread.
Footwear division showed momentum, with Q2 organic growth and market share gains; OrthoLite contributed to margin accretion.
Financial highlights
Group revenue was $837m, up 1% organically at constant exchange rates year-over-year; EBIT was $166m, margin 19.8%.
EPS was 4.4c, down from 4.7c due to higher interest and share placing timing.
Free cash flow pre-dividends was $30m; net debt at $842m, leverage at 2.3x.
Interim dividend increased by 5% to 1.05c per share.
Return on capital employed: 22%.
Outlook and guidance
Full-year and medium-term guidance unchanged; confident in H2 EBIT improvement and year-on-year earnings growth.
H2 assumes modest market decline, with profit in line with expectations and strong free cash flow; $15m in H2 cost benefits expected, including OrthoLite synergies.
FY 2026 capex guidance $40–$45m, including $5m for OrthoLite capacity expansion.
On track to reduce leverage to 2x or below by year-end.
Medium-term targets: >5% average annual revenue growth, EBIT margin 21–23%, EPS CAGR >10%.
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Latest events from Coats Group
- Margin rose to 16.7% as EBIT held steady despite volume pressure.COA
H2 2023 - Revenue down 1% year-over-year; EBIT margin up; full-year outlook unchanged.COAQ1 2026 TU
- Record free cash flow and margin gains in 2025 drive upgraded growth and profitability targets.COAH2 2025
- Revenue down 1% with stable profit; OrthoLite acquisition and divisional restructure completed.COAQ3 2025 TU
- $770M acquisition creates a footwear component leader, targeting $20M synergies by 2028.COAM&A Announcement
- OrthoLite acquisition and record margins drive growth, cash flow, and future synergies.COAH1 2025
- Record 18% EBIT margin, strong growth, and upgraded outlook led by Apparel and Footwear.COAH1 2024
- UK pension liabilities fully hedged, unlocking $30m cash for growth and shareholder returns.COAInvestor Update
- Strong revenue and margin growth, robust cash flow, and de-risked pension position support future expansion.COAH2 2024
Next Coats Group earnings date
H2 20264 Mar, 2027
Coats Group
Next Coats Group earnings date
H2 20264 Mar, 2027
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Frequently asked questions
Coats Group plc is a UK-based global leader in industrial threads and consumer textiles. The company supplies threads, yarns, zips, trims, composites, and fabrics for various industries, including apparel, footwear, home textiles, and personal protection. Coats' extensive product range is used in applications such as children’s clothing, denim, activewear, luggage, mattresses, and more. Beyond traditional textiles, the company also serves industrial markets with performance materials, including automotive and telecoms components. The company is headquartered in London, United Kingdom, and its shares are listed on the London Stock Exchange.