Atlas Copco Group (ATCO) Q3 2026 earnings summary

Executive summary

• Orders received rose 29% reported to MSEK 52,338, with 25% organic growth; revenue increased 15% reported to MSEK 47,920, with 11% organic growth.

• Adjusted operating profit was MSEK 10,195, with a 21.3% margin; operating cash flow was MSEK 8,728.

• Demand was very strong across regions, led by semiconductor-related vacuum equipment; organic order volumes were essentially unchanged sequentially.

Financial highlights

• Operating profit increased to MSEK 9,950 from MSEK 8,546; adjusted operating profit was MSEK 10,195 versus MSEK 8,862.

• Profit for the period was MSEK 7,736 versus MSEK 6,675; basic EPS was SEK 1.58 versus SEK 1.37.

• EBITA was MSEK 10,626, or 22.2% of revenue, versus MSEK 9,127 and 21.9%.

• Nine-month revenue grew 6% to MSEK 133,434, with 7% organic growth; operating profit rose 7% to MSEK 27,460.

• Operating cash flow for Jan–Sep was MSEK 19,841 versus MSEK 20,019.

Outlook and guidance

• Near-term customer activity is expected to remain at current levels; Q3-to-Q4 seasonality makes orders difficult to predict.

• Q4 effective tax rate is expected to be ~22.5%; currency could contribute ~SEK 500m positively to the bottom line, all else equal.

• Semiconductor demand remains a positive opportunity, but Q4 order timing is uncertain and customer focus is on output and delivery.

• Vacuum Technique margin expansion is expected to continue at a slower pace, with capacity ramp-up continuing into Q4.

• Gas and process compressor prospects remain positive, supported by a strong pipeline and expected quarter-to-quarter order variation.