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Iveco Group (IVG) investor relations material
Iveco Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 1.4% YoY to €3.158bn; Industrial Activities revenue increased 1.5% to €3.091bn. Quality initiatives and adverse mix reduced Industrial Activities adjusted EBIT to nil.
Quality efforts reached their planned peak in Q3 and are expected to ease gradually; profitability is expected to recover in Q4 2026, with solid seasonal Industrial Activities free cash flow generation.
The tender offer was completed, and the business became part of Tata Motors.
Financial highlights
Consolidated adjusted EBIT was €30mn versus €111mn; Industrial Activities adjusted EBIT was nil versus €76mn.
Adjusted net profit attributable to shareholders was a €33mn loss versus €40mn profit; adjusted diluted EPS was -€0.12 versus €0.15.
Continuing-operations loss was €45mn versus profit of €16mn; Q3 operating cash flow was negative €113mn.
Industrial Activities free cash flow was an outflow of €656mn versus €513mn, driven by lower adjusted EBITDA, working-capital absorption and higher investment.
9M revenue was €9.750bn versus €9.428bn; adjusted EBIT was €106mn versus €399mn, and adjusted net loss was €60mn versus adjusted net income of €179mn.
Outlook and guidance
Q4 2026 profitability is expected to recover as quality initiatives gradually ease, despite weaker LCV demand, macro uncertainty and adverse mix.
Industrial Activities free cash flow generation is expected to be solid in Q4, consistent with usual seasonality.
Bus order visibility was solid for Intercity in H1 2027 and Citybus for FY 2027.
- FY23 revenue and margins grew; FY24 guidance points to lower sales but resilient margins.IVG
Q4 2023 - Revenue up 7.3% to €3.76bn; profitability fell on quality costs, liquidity strong at €4.4bn.IVG
Q2 2026 - Defence sale drove a €1.25bn net gain, offsetting losses from higher costs in Q1 2026.IVG
Q1 2026 - Lower revenues and profitability in 2025, but key divestitures and liquidity remain strong.IVG
Q4 2025 - Q3 2025 revenues and EBIT margin fell, with guidance revised and divestitures progressing.IVG
Q3 2025 - Lower revenues and revised guidance, but strong Bus/Defence and major strategic transactions.IVG
Q2 2025 - Solid Q3 margins and cash flow; guidance confirmed as Bus and Defence offset Truck declines.IVG
Q3 2024 - Adjusted net income rose to €182 million as margins held firm despite lower revenues.IVG
Q2 2024 - Q1 2025 revenues fell 10%, but strong orders and partnerships support 2025 guidance.IVG
Q1 2025
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