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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.
Forterra
Forterra (FORT) investor relations material
Forterra Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading update summary11 Nov, 2026
Market conditions
UK brick industry despatches fell 11% YoY in 9M to 30 Sep 2026, worsening from an 8% H1 decline; RMI demand remained subdued and broadly in line with new-build housing.
Brick market share was maintained, with underlying selling prices broadly in line with expectations; 10M revenue was £282.7m, down 11.9% YoY like-for-like versus a 9.3% H1 decline.
Operations and cost management
Production across product categories is being aligned with demand to limit inventory and unhedged gas exposure; c.80% of FY27 gas requirements secured.
On target for c.£1m of H2 cost savings, equivalent to £2m annualised; cost and working capital controls remain tight.
Cash and capital allocation
Two surplus land disposals are progressing, with aggregate proceeds of c.£12m expected by year end, subject to completion.
£20m share buyback expected to complete in Dec 2026; 12,049,421 shares repurchased for £17.7m as at 31 Oct 2026.
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Latest events from Forterra
- Revenue and EBITDA fell, but margins and leverage improved amid challenging conditions.FORT
H1 2026 - Revenue fell 11% year-over-year as cost inflation and market uncertainty persisted.FORTQ1 2026 TU
- Revenue up 12.1%, EBITDA up 18.5%, leverage down, and dividend more than doubled.FORTH2 2025
- Revenue up 12% to £386m, with strong debt reduction and resilient brick sales.FORTH2 2025 TU
- Revenue up 16% YTD; H2 outlook steady with EBITDA growth and strong new build demand.FORTTrading Update
- Strong H1 growth, raised guidance, and strategic exits drive improved margins and outlook.FORTH1 2025
- Full-year guidance held as investments and cost control position Forterra for future growth.FORTTrading Update
- H1 2024 saw lower revenue and profit, but cash flow and leverage remain strong.FORTH1 2024
- Flat revenue, strong cash flow, and strategic investments set up for recovery.FORTH2 2024
Next Forterra earnings date
H2 202610 Mar, 2027
Forterra
Next Forterra earnings date
H2 202610 Mar, 2027
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Frequently asked questions
Forterra plc manufactures and sells masonry products in the United Kingdom. It operates through three segments: Bricks, Blocks, and Bespoke Products. The company offers bricks; aircrete and aggregate blocks; and bespoke products comprising precast concrete flooring, concrete block paving, and chimney and roofing components, as well as other building products under the London Brick, Butterley Brick, Ecostock, Cradley, Thermalite, Conbloc, Bison Precast, Jetfloor, Red Bank, and Formpave brand names. It serves builders' merchants, residential homebuilders, specialized brick merchants, contractors, and subcontractors