Savaria (SIS) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 9% to CAD 245 million, including 6.8% organic growth; adjusted EBITDA reached a record CAD 52.1 million at a 21.2% margin.

• Operating income increased 28.6% to CAD 35.6 million; diluted EPS was CAD 0.32 versus CAD 0.27 a year earlier.

Financial highlights

• Gross profit increased 9.3% to CAD 96.4 million; gross margin was 39.3%, up 10 bps year over year.

• Net earnings rose to CAD 23.1 million from CAD 19.5 million; adjusted net earnings were CAD 23.3 million versus CAD 23.5 million.

• YTD revenue rose 8.1% to CAD 726.4 million; operating income increased 38% to CAD 104.4 million and adjusted EBITDA rose 12.6% to CAD 151.9 million.

• Prior-year strategic initiative expenses were CAD 4.7 million in Q3 and CAD 13.9 million YTD, versus none in 2026, contributing substantially to reported operating income growth.

Outlook and guidance

• Five-year targets include ~12% annual revenue growth, CAD 1.6 billion sales by 2030 and adjusted EBITDA margins of at least 20%; adjusted EBITDA per-share target is ~CAD 4.25.

• Organic growth ambition is 7%–8% annually; acquisition growth ambition is 4%–5% annually, with a ~CAD 200 million five-year acquisition plan.

• Patient care margins are expected to improve from Q4 following a mid-year price increase; management expects a good Q4 for patient care sales.

• Greenville expansion was expected ready in early December; CapEx was expected to remain elevated in Q4 and return to ~2.5% of revenue in 2027.