Lanxess (LXS) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 9.6% to €1,467m and EBITDA pre exceptionals increased 11.2% to €139m, supported by pricing, slight volume growth and cost savings.

• 9M sales were stable at €4,406m, while EBITDA pre fell 6% to €385m amid FX and portfolio effects, higher input costs and weak demand.

• Q3 free cash flow improved to €48m from -€14m; FY 2026 EBITDA pre guidance is at the upper end of €450–500m.

Financial highlights

• Q3 EBIT was €9m versus a €28m loss; net loss narrowed to €70m from €77m and adjusted EPS was €0.09 versus -€0.07.

• Q3 gross profit increased 15.7% to €294m; gross margin improved to 20.0% from 19.0%.

• 9M EBIT loss narrowed to €58m from €80m, while net loss widened to €264m from €179m and adjusted EPS fell to €0.10 from €0.75.

• Q3 capex increased to €76m from €64m; 9M capex was €181m versus €174m.

• 9M financial result worsened to -€180m from -€104m, mainly reflecting Envalior equity-accounted results and shareholder-loan valuation.

Outlook and guidance

• FY 2026 EBITDA pre guidance was narrowed to €450–500m, with results expected at the upper end; positive free cash flow is expected in Q4.

• FY 2026 savings target is ~€65m and back-end loaded; cost streamlining and accelerating headcount reductions are intended to mitigate inflation.

• FY 2026 capex guidance is €330–340m; operational depreciation is also €330–340m, excluding ~€130m of intangible amortization.

• FY 2026 exceptional expenses are guided at ~€80–100m on EBIT; All Other Segments EBITDA pre is expected at -€140m to -€150m.

• Energy costs are expected to remain elevated; lower prices in 2027 than 2026 were considered likely, with no 2027 cost estimate given.