Landis+Gyr Group (LAND) Q3 2026 TU earnings summary

Executive summary

• Q3 FY2025 net revenue increased 39% year-over-year to $278.7M, driven by strong Revelo shipments and disciplined execution in core markets.

• Nine-month net revenue reached $814.7M, slightly down year-over-year due to prior-year project milestones.

• Strategic initiatives advanced, including EMEA divestment (regulatory approval received, closing targeted for Q2 2026) and preparations for a U.S. listing in H2 2026, while maintaining a Swiss listing.

• Share buyback program launched in November 2025, with close to 1% of shares repurchased at an average price of CHF 53.08.

• First time issuing a quarterly trading update.

Financial highlights

• Q3 net revenue was $278.7M–$279M, up 39% year-over-year, driven by over 50% growth in Revelo shipments.

• Adjusted gross profit for Q3 rose by $31M (+48%) year-over-year, with margin improving to 33.2%, up 240 basis points.

• Order backlog reached $3.9B–$3,885M, up 26–30% year-over-year.

• Adjusted gross margin remained stable, excluding a one-time real estate gain in FY2024.

• Q3 margins were impacted by less than $1M in tariff-related costs, with year-to-date impact of approximately $6M.

Outlook and guidance

• FY2025 guidance reiterated: net revenue growth of 5–8% over FY2024 ($1,122.7M–$1,123M), and adjusted EBITDA margin of 13–14.5%, including $10–15M in temporary dyssynergies.

• Strong Q4 anticipated, supported by robust business momentum.

• Book-to-bill ratio expected to be around 1x for the full year.