Forterra (FORT) Q1 2026 TU earnings summary

Executive summary

• Trading conditions remained challenging in the four months ended 30 April 2026, with some improvement after a wet start to the year.

• Like-for-like revenue declined by 11% compared to the prior year, adjusting for non-core business closures.

• Domestic industry brick despatches fell 11% year-over-year in Q1, with market share stable versus late 2025.

Financial highlights

• Revenue for the period decreased by 11% year-over-year on a like-for-like basis.

• Low to mid single-digit brick price increases were implemented in Q1 to offset anticipated cost inflation.

Outlook and guidance

• Production rescheduled from April to the second half of the year to manage gas costs, increasing H2 weighting for full-year results.

• Greater uncertainty in forecasting H2 performance due to macroeconomic and supply chain risks.

• Board remains confident in the Group's position to benefit from market recovery following recent capacity investments.