Hexagon (HEXA) Q3 2026 earnings summary

Executive summary

• Organic growth accelerated to 13%, its highest level in five years; all three business areas grew and order intake strengthened.

• EBITAC excluding Robotics reached €265.3m, up 11%, with a 25.3% margin; excluding prior-year one-offs, the YoY margin increase was 450 bps.

• Strong Q3 momentum and backlog supported entry into Q4; priorities included profitable growth, acquisition integration and advancing AEON toward commercialization.

Financial highlights

• Net sales were €1,049.1m, up 7% reported and 13% organically; currency added 2 percentage points and structure reduced growth by 7 points.

• Adjusted gross earnings were €646.2m, with a 61.6% gross margin; margin excluding D&E was stable YoY.

• Adjusted EBIT1 was €278.3m, up 5%, with a 26.5% margin; EBITDA was €369.9m, flat YoY, with a 35.3% margin.

• Adjusted EPS rose 19% to 8.2 euro cents from 6.9; reported EPS was 16.6 cents versus -1.6, reflecting adjustments including a fair-value gain.

• 9M organic sales growth was 11%; adjusted EBITAC excluding Robotics was €745.8m, up 10%, and adjusted EPS was 22.6 euro cents versus 20.3.

Outlook and guidance

• Strong order intake built backlog entering Q4; continued positive demand was expected in aerospace & defence, general manufacturing and electronics.

• No dramatic demand changes were anticipated for 2027; agriculture, automotive and construction showed no near-term upturn.

• Waygate was on track to close in Q4 2026; its integration plan targets Manufacturing Intelligence’s 21%-24% EBITAC margin range.

• Humanoid investment was guided at €45m-€50m for 2026 and likely €70m-€80m for 2027, not yet confirmed; robotics revenue is expected to begin in 2027.