Fluidra (FDR) Q3 2026 earnings summary

Executive summary

• Nine-month sales rose 4.3% at constant FX, supported by resilient aftermarket demand, market-share gains and execution in a soft, volatile macro environment.

• Q3 sales grew 3% and Adjusted EBITDA rose 7% at constant FX to €107m; full-year guidance was narrowed within the previous range.

• Strategy priorities include organic and acquired growth, innovation, customer service, differentiation and operational efficiency.

Financial highlights

• Nine-month sales were €1,780m, up 4.3% at constant FX; volume contributed 1.4 points and price 2.0 points year over year.

• Adjusted EBITDA increased 5.9% at constant FX to €428m; adjusted EBITA rose 7.0% to €348m.

• Adjusted net profit rose 6.2% at constant FX to €221m; reported profit attributable to the parent was €154m, down 3.4% at constant FX.

• Operating cash flow was €223m versus €199m, and free cash flow was €12m versus €6m.

• Adjusted EPS was €1.15; adjusted EBITDA margin was 24.1%, versus 23.9% a year earlier.

Outlook and guidance

• FY 2026 sales growth guidance narrowed to 3.5%–5.5% at constant FX, from 3%–7%.

• Adjusted EBITDA margin guidance narrowed to 23.3%–23.5%, from 23.3%–24.3%; adjusted EPS growth guidance narrowed to 5%–9%, from 4%–13%.

• Outlook assumes flat-to-lower new pools and remodel activity, strong aftermarket demand and share gains, and positive M&A contribution.

• Full-year OpEx growth is expected at 3.5%–4%; pricing, efficiency initiatives and cost control are expected to offset inflation.