Somero Enterprises (SOM) H1 2026 TU earnings summary

Executive summary

• Reported better-than-expected trading for H1 2026, driven by stabilization in US private non-residential construction and improved customer activity.

• Demand for large-line Boom Screeds rebounded after a three-year decline, aided by new product launches (S-22EZ+ and S-15EZ).

• Hammerhead Ride-on Screed, launched in July 2025, continues to attract new customers and support revenue growth.

Financial highlights

• H1 2026 trading in North America showed significant improvement compared to H1 2025, which was subdued by macroeconomic disruption.

• Trading in Europe was ahead of H1 2025 despite ongoing headwinds; Australia saw moderate year-on-year improvement.

• Rest of World segment expected to be broadly comparable with H1 2025.

• Parts and service revenue expected to be comparable with prior year.

Outlook and guidance

• FY 2026 revenue now expected to be ahead of market expectations ($86.0m revenue, $15.9m adjusted EBITDA, $13.5m adjusted PBT).

• Profit and operating cash generation anticipated to improve commensurately.

• Management remains cautious due to ongoing macroeconomic and geopolitical uncertainty.