Schaeffler (SHA0) Q3 2026 TU earnings summary

Executive summary

• Q3 sales were €5,814m, down 2.0% YoY on an FX-adjusted basis; EBIT before special items was €245m, with a 4.2% margin.

• FY 2026 guidance and 2028 mid-term targets were reaffirmed amid challenging conditions and ongoing E-Mobility recovery and portfolio actions.

• Humanoid order book reached €400m after two additional Chinese customers placed production orders.

Financial highlights

• 9M sales were €17,481m; EBIT before special items was €794m, with a 4.5% margin.

• Free cash flow before M&A cash flows was +€260m in Q3 and -€40m for 9M.

• E-Mobility actions carry ~€240m in one-off special-item charges, including ~€220m in Q3.

Outlook and guidance

• FY 2026 guidance: sales €22.5–24.5bn, EBIT margin 3.5%–5.5% before special items, and free cash flow €100–300m before M&A cash flows.

• 2028 targets: sales €24–26bn, EBIT margin 6%–8%, and free cash flow €400–600m before M&A cash flows.

• E-Mobility break-even remains a priority; capacity adjustments and portfolio optimization are expected to support profitability in coming years.