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Company research15 Apr 2024
The Industrial Machinery, Supplies, and Components Industry
Explore the industrial machinery industry's growth, driven by technology, sustainability, and digital transformation, impacting global economic development.
Sandvik
Sandvik (SAND) investor relations material
Sandvik Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Broad demand and strong execution drove 17% organic order growth and 25% organic revenue growth; adjusted EBITA margin reached 22.5%, above the 20–22% target range.
Free operating cash flow hit a quarterly record of SEK 7.167bn; profitability benefited from volume, pricing, savings and operational leverage.
Adjusted profit for the period was SEK 5.8bn; adjusted diluted EPS rose to SEK 4.64 from SEK 2.81.
Financial highlights
Order intake was SEK 36.948bn versus SEK 30.769bn, up 20% reported and 17% organically; revenue was SEK 37.728bn versus SEK 29.218bn, up 29% reported and 25% organically.
Adjusted EBITA increased to SEK 8.477bn from SEK 5.539bn; margin was 22.5% versus 19.0%, with 37% organic operating leverage.
Free operating cash flow was SEK 7.167bn versus SEK 5.603bn; quarterly cash conversion was 87%.
Reported operating profit rose 53% to SEK 7.927bn; reported profit for the period increased 63% to SEK 5.772bn, with diluted EPS of SEK 4.60 versus SEK 2.82.
Adjusted diluted EPS was SEK 4.64; excluding amortization of surplus values, adjusted diluted EPS was SEK 4.96.
Outlook and guidance
Q4 adjusted EBITA currency effect is estimated at +SEK 0.6bn YoY; tungsten-price timing effects are expected to have limited impact based on end-September prices.
FY26 cash capex guidance is SEK 4.0–4.5bn; Q1–Q3 capex was SEK 2.8bn. Normalized tax-rate guidance is 23–25%, and net interest is estimated at SEK -0.7bn.
A tariff refund is estimated to reduce Q4 order intake and revenue by SEK 0.4bn, with no impact on absolute adjusted EBITA.
Long-term 2025–2030 targets: 7% through-cycle growth from organic growth and M&A in fixed currency; 20–22% adjusted EBITA margin; 50% dividend payout of adjusted EPS; financial net debt/EBITDA below 1.5 excluding transformational M&A.
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Latest events from Sandvik
- Record revenue and profit growth in Q2 2026, with strong margins and strategic acquisitions.SAND
Q2 2026 - Double-digit organic growth and margin gains achieved amid strong demand and innovation.SANDQ1 2026
- Q4 saw double-digit organic growth, resilient margins, and strong cash flow, led by mining and digital.SANDQ4 2025
- Resilient margin and strong cash flow despite mixed demand and a 4% revenue decline.SANDQ3 2024
- Order intake up 2%, mining/aerospace strong, but revenues and margins declined year-over-year.SANDQ2 2024
- Strong 2024 results and AGM approvals advanced shareholder returns and long-term growth.SANDAGM 2025
- Strong mining and margin gains drive solid results amid macro and tariff risks.SANDQ1 2025
- 2030 targets: 7% revenue CAGR, digital growth, and new structure drive efficiency and innovation.SANDCMD 2025
- Order intake up 5%, margin at 19.6%, and strong cash flow supports higher dividend proposal.SANDQ4 2024
Next Sandvik earnings date
CMD 2026 Day 124 Nov, 2026
Sandvik
Next Sandvik earnings date
CMD 2026 Day 124 Nov, 2026
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Frequently asked questions
Swedish business royalty
Sandvik is a Swedish engineering company that specializes in the development and manufacturing of advanced technology solutions. Sandvik’s flagship products and what they’re most known for is their expertise in mining equipment. Their portfolio encompasses products and services ranging from cutting-edge tools and equipment to high-performance materials.
Expertise spanning back over 160 years
Sandvik was founded in 1862 in Sandviken, Sweden, and has since played a significant role in the country's economy. The company has a rich history of innovation and has contributed to the development of Sweden's industrial landscape, especially within its thriving mining sector. Through providing vast amounts of jobs both in-house and through empowering the mining sector, Sandvik has played an important role in the broader Swedish economy. This in turn has had a positive effect on the economy, driving growth, technological advancement, and industrial progress.
Mining experts
Through their extensive expertise and experience, Sandvik have been at the forefront of developing innovative solutions for the mining sector. From underground and surface drilling to material handling and crushing, Sandvik's products and services have played a vital role in the growth and advancement of the mining industry. Today, they provide comprehensive solutions for mining operations, including advanced mining equipment, rock tools, drilling and cutting systems, as well as digital solutions for automation, data analysis, and remote monitoring. These products are specifically designed to meet the specific needs and requirements of the mining industry, and Sandvik is considered to be one the market leaders within the sector. Some of their competitors include other companies supplying the mining industry, with some examples being Caterpillar, Komatsu, and Epiroc.
From a small town outfit to a establishing a global presence
Sandvik might be best known for their products for the mining sector, but they also serve customers in other fields such as construction, manufacturing, and engineering. Within the mining sector, Sandvik's expertise and offerings are highly valued. With a global reach, Sandvik serves customers in mining-rich regions around the world.