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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.
Vestas Wind Systems
Vestas Wind Systems (VWS) investor relations material
Vestas Wind Systems Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary12 Aug, 2026
Executive summary
Revenue grew 26% year-on-year to €4.7 billion in Q2 2026, driven by strong Power Solutions growth and improved profitability in both onshore and offshore segments.
EBIT margin before special items reached 9.4%, up nearly 8 percentage points year-on-year.
EPS increased 46% year-on-year to €1.11, with net profit at €285 million.
Order intake surged 67% year-on-year to 3.3 GW, with strong commercial traction in EMEA and the Americas.
A new €400 million share buyback program will run from August to December 2026.
Financial highlights
Q2 2026 revenue: €4.7 billion (+26% YoY); Power Solutions revenue up 37% YoY; Service revenue declined 5% YoY.
EBIT before special items: €446 million; EBIT margin before special items: 9.4% (up from 1.5% last year).
Gross margin: 17.0% (up 5.9 percentage points YoY).
Adjusted free cash flow: €94 million; net cash position at quarter-end: €92 million.
Net working capital stood at -€2.3 billion, or -11.1% of last 12 months' revenue.
Outlook and guidance
Full-year 2026 revenue guidance maintained at €20–22 billion.
EBIT margin before special items guidance raised to 7–9% (from 6–8%).
Service EBIT margin before special items expected at 15.5–17.5%.
Total investment for the year projected around €1.2 billion.
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Latest events from Vestas Wind Systems
- POC accounting recognizes revenue based on incurred costs, impacting timing and contract assets.VWS
Investor presentation - Pursuing 10% EBIT margin by 2026, with offshore growth and V236-15MW rollout progressing.VWSInvestor presentation
- Leads German wind market with 26% share, robust auction wins, and 18.9 GW installed capacity.VWSInvestor presentation
- Revenue up 14% YoY to €3,966m, EBIT margin at 3.2%, and order intake hit 4,504 MW.VWSQ1 2026
- Record 2025 results, dividend, and all proposals adopted amid strategic and ESG focus.VWSAGM 2026
- Record revenue, improved margins, and robust order backlog set the stage for 2026 growth.VWSQ4 2025
- Revenue fell and Service EBIT turned negative, but order intake and backlog hit record highs.VWSQ2 2024
- 2024 guidance narrowed after EUR 300m service cost hit; Power Solutions margins improved.VWSGuidance
- Record order intake, dividend return, and new board members amid service and trust challenges.VWSAGM 2025
Next Vestas Wind Systems earnings date
Q3 202611 Nov, 2026
Vestas Wind Systems
Next Vestas Wind Systems earnings date
Q3 202611 Nov, 2026
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Frequently asked questions
Vestas Wind Systems designs, manufactures, installs, and services wind turbines worldwide. Its products include wind turbines with one to three blades, rotor diameters of up to 180 meters, and wind parks and project components that consist of turbines and towers working as a system. The company primarily serves the offshore wind energy sector; other sectors include onshore utility-scale power markets. It offers services, including maintenance, monitoring, and training for customers that own or operate wind parks.