)
Visual21 Nov 2025
Data center suppliers
FirstGroup (FGP) investor relations material
FirstGroup H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary18 Nov, 2025
Executive summary
Adjusted revenue rose 30% year-over-year to £834m, driven by FirstBus growth, FirstBus London acquisition, and open access and Rail Services progress.
Adjusted EPS increased 16% to 9.9p, supported by share buybacks and cost efficiencies.
Interim dividend of 2.2p per share, up 29% year-over-year.
Strategic focus on operational delivery, U.K. growth, diversification, and sustainability, with significant investment in decarbonisation and fleet electrification.
£76m returned to shareholders via buybacks and dividends in the half-year.
Financial highlights
Group-adjusted operating profit up 2.8% to £103.6m; adjusted profit before tax up 7.8% to £76.3m.
EBITDA of £181.4m generated before DfT TUX cash inflows.
Adjusted net debt at period end was £207.6m, with a year-end forecast of £125–135m.
Free cash flow was an outflow of £35.6m, mainly due to accelerated bus electrification CapEx and government funding utilization.
Interim dividend increased 29% to 2.2p per share.
Outlook and guidance
Modest adjusted EPS growth expected for FY 2026, with at least maintenance of this level in FY 2027.
Bus business anticipates sequential operating profit growth, with annual revenue expected above £1.4bn in FY26, including £300m from First Bus London.
H2 EBIT margin in regional bus expected to normalize to around 10%, with further efficiencies offsetting inflation and higher NI contributions.
CapEx in bus to normalize around £100m per annum, with current elevated levels due to electrification and grant funding; FY 2026 net capex expected at £180m.
Adjusted net debt forecasted at £125–135m by year-end, before further M&A.
Regional bus margin to normalise to 10% in H2. How?
New open access services: expected returns?
Reconcile H1 cash outflow to FY26 net debt forecast.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next FirstGroup earnings date
H2 20269 Jun, 2026
Next FirstGroup earnings date
H2 20269 Jun, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
FirstGroup plc provides public transport services in the United Kingdom and the United States. The company operates through First Bus and First Rail segments. The First Rail segment operates a passenger rail network that provides long-distance, commuter, regional, and sleeper services through a portfolio of Great Western Railway, South Western Railway, TransPennine Express, and Avanti West Coast franchises; passenger rail services; and hull trains and Lumos. The First Bus segment offers local bus services with a fleet of approximately 4,900 buses in the United Kingdom.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage