EXEL Industries (EXE) Q3 2026 TU earnings summary

Executive summary

• Q3 2025-2026 revenue declined 18.7% year-over-year to €229.2 million, mainly due to lower volumes in agricultural equipment.

• Revenue contraction was concentrated in France and Europe, while the Americas remained stable and Australia returned to growth.

Financial highlights

• Q3 revenue: €229.2 million, down 18.7% year-over-year; like-for-like sales fell 18.0%.

• Nine-month revenue: €610.1 million, down 15.9% year-over-year; like-for-like sales fell 14.5%.

• Agricultural Spraying Q3 revenue dropped 17.1%; Sugar Beet Harvesting fell 35.6%; Leisure declined 14.2%; Industry decreased 16.7%.

Outlook and guidance

• No significant recovery in the agricultural equipment market expected before H2 2026-2027.

• Sugar Beet Harvesting market remains uncertain; regulatory changes in France could improve conditions.

• Leisure segment expected to end the year slightly down, but new product launches are well received.

• Industrial Spraying outlook remains uncertain, but spare parts and Technical Hoses show resilience.