Amrize (AMRZ) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 2.2% to $3.771B and net income increased 3.3% to $558M; Adjusted EBITDA edged up 0.2% to $1.076B, with margin declining to 28.5% from 29.1%.

• Pricing, surcharges and acquisitions supported results, while weather-related volume weakness and higher freight, diesel and raw-material costs pressured performance.

Financial highlights

• Q3 revenue increased from $3.690B; price increases contributed $78M, acquisitions $77M and surcharges $23M, partly offset by lower volumes and FX.

• Q3 net income was $558M versus $540M; diluted EPS was $1.02 versus $0.98, while Adjusted Diluted EPS was flat at $1.05.

• 9M revenue grew 5.0% to $9.445B, net income increased 7.5% to $927M and Adjusted EBITDA rose 1.0% to $2.253B.

• 9M operating cash flow was $222M versus $417M; investing cash outflow was $1.202B, including $467M for acquisitions.

Outlook and guidance

• FY2026 guidance: revenue of $12.2B–$12.4B and Adjusted EBITDA of $2.95B–$3.05B; capex is expected to reach $900M.

• Building Materials is expected to be price-cost positive in Q4; cement pricing is forecast flat to up low-single digits for FY and aggregates pricing up mid-single digits.

• Building Envelope price-cost is expected to improve sequentially in Q4, with positivity shifted to 2027.

• ASPIRE delivered $73M in 9M savings and remains on track for $80M in FY2026 and $250M cumulatively through 2028.

• Materials, freight and diesel inflation is expected to persist into 2027; pricing and surcharges have partly offset costs, but customer resistance could pressure results.