Brenntag (BNR) Q3 2026 (Pre recorded) earnings summary

Executive summary

• Q3 earnings grew amid volatile markets, with broadly stable volumes and organic growth in Operating Gross Profit and EBITDA across both divisions.

• Operating EBITDA was €385m, up 14.5% FX-adjusted; divisional margins remained broadly resilient despite higher sourcing, energy, transportation and freight costs.

• FY2026 Operating EBITDA guidance of €1,350m–€1,450m was reaffirmed, with results expected toward the upper end.

Financial highlights

• Q3 sales were €4,263m, up 12.7% FX-adjusted; Operating Gross Profit was €1,064m, up 10.4% FX-adjusted.

• Q3 Operating EBITA was €289m vs. €243m; EBIT was €243m vs. €213m; profit after tax was €131m vs. €114m; EPS was €0.89 vs. €0.78.

• Q3 free cash flow was €183m vs. €315m; an €88m working-capital outflow compared with a €97m inflow in Q3 2025.

• 9M Operating EBITDA rose 15.6% FX-adjusted to €1,154m; profit after tax was €412m vs. €293m and diluted EPS was €2.81 vs. €2.01.

Outlook and guidance

• FY2026 Operating EBITDA guidance remains €1,350m–€1,450m, with results expected toward the upper end.

• Outlook assumes no broad-based decline in end-market demand and typical Q4 seasonality, including fewer working days and holiday-period activity.

• Q4 expectations include subdued global demand, geopolitical uncertainty, and moderate but volatile inflationary pressure.