Compass Group (CPG) Q3 2025 TU earnings summary

Executive summary

• Delivered strong Q3 with 8.6% organic revenue growth, led by robust North America performance across all sectors.

• Net new business remained within 4%-5% range, supported by client retention above 96%.

• Announced agreement to acquire Vermaat/Vermaat Groep B.V., a premium European food service business, for €1.5bn, pending regulatory approval.

• Upgraded full-year/FY25 profit guidance, reflecting better-than-expected M&A performance and ongoing margin progression.

Financial highlights

• Organic revenue growth of 8.6% in Q3 and 8.5% year-to-date.

• North America achieved 9.6% organic revenue growth in Q3; International at 6.6%.

• Underlying operating profit growth guidance upgraded to ~11% at constant currency for the full year.

• LTM new business signings reached $3.7 billion, up 6-7% year-over-year.

• Q3 new business wins included 48% from first-time outsourcing.

Outlook and guidance

• Full-year organic revenue growth expected above 8%.

• Margin progression and profit growth driven by strong organic growth and M&A synergies.

• Guidance factors in moderation of exceptional Q3 events in Q4; upside possible if events repeat.

• No share buybacks expected until at least 2027 due to leverage targets post-acquisition.