Wacker Neuson (WAC) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 13.6% YoY to €1,846.2m; EBIT increased 54.3% to €150.3m and margin expanded 2.1pp to 8.1%, led by Europe and the Americas.

• Q3 revenue grew 7.2% YoY to €589.7m; EBIT was €45.6m, up 10.4%, and margin improved to 7.7% from 7.5%.

• Q3 margin reflected offsetting cost-optimization expenses and US tariff refunds; September order intake strengthened in some regions after the seasonal summer slowdown.

Financial highlights

• Q3 gross profit rose 14.5% to €146.9m; gross margin increased 1.6pp to 24.9% on volume effects and improved production-cost coverage.

• 9M gross profit increased 18.5% to €448.8m and gross margin rose 1.0pp to 24.3%.

• 9M profit for the period rose 77.5% to €98.5m and EPS increased 76.8% to €1.45; Q3 profit was €29.0m, up 8.6%, and EPS was €0.43.

• 9M operating costs rose 6.2% to €298.5m but fell 1.1pp as a share of revenue to 16.2%.

Outlook and guidance

• FY 2026 revenue guidance remains €2,300m–€2,400m; EBIT margin guidance narrowed to 7.0%–7.5% from 7.0%–8.0%.

• FY 2026 investment guidance was narrowed to ~€70m from €70m–€90m; year-end NWC ratio target remains below 30%.

• Year-end free cash flow is expected to remain at a three-digit million-euro level; guidance reflects 9M performance and current Q4 market expectations.

• Solid order book and September B2B momentum, infrastructure and modernization programs support the outlook and mid-term demand potential.