Legrand (LR) Q3 2026 earnings summary

Executive summary

• 9M sales reached €8,329.4m, up 19.5% reported and 22.1% excluding currency effects; organic growth was 12.7%, acquisition growth 8.3%, and data-center growth ~40%.

• Adjusted operating profit rose 20.0% to €1,732.0m, with a 20.8% margin; net profit attributable to equity holders increased 19.6% to €1,067.0m.

Financial highlights

• Net sales were €8,329.4m, up 19.5% reported and 22.1% excluding currency effects; organic growth was 12.7%, acquisitions added 8.3%, and FX reduced sales by 2.1%.

• Adjusted operating profit increased 20.0% to €1,732.0m; operating profit rose 19.7% to €1,595.0m.

• Net profit attributable to equity holders rose 19.6% to €1,067.0m; profit for the period was €1,075.3m.

• Free cash flow increased 15.9% to €1,009.5m; net cash from operating activities was €1,152.3m, up 15.1%.

• Gross profit increased 15.7% to €4,147m, while gross margin declined to 49.8% from 51.4%.

Outlook and guidance

• FY26 sales growth excluding currency effects is targeted at 20%-22%; organic growth guidance rose to 11%-13% from 8%-10%, while acquisition growth remains ~8%.

• FY26 adjusted operating margin target remains 20.5%-21.0% after acquisitions; CSR roadmap achievement target is at least 100%.

• 2027-2030 ambitions include organic sales CAGR of 6%-8%, average annual acquisition scope of ~5%, and average adjusted operating margin of 21%-22%.

• 2027-2030 targets include average FCF of 13%-15% of sales, cash conversion above 100%, and net debt/EBITDA leverage of 1.5x-2.5x; assumptions exclude major macroeconomic disruption.