The earnings call presented a positive outlook with strong sales growth, record order intake, and robust performance in the Defense segment. However, challenges in the Cyber & Digital segment and increased net debt were noted. Overall, the highlights significantly outweigh the lowlights.

Company Guidance

During the Thales H1 2025 Results Conference Call, significant guidance was provided regarding the company's financial performance and strategic priorities. Thales reported a high single-digit sales growth driven by Avionics and Defense, with the latter benefiting from a favorable geopolitical context and notable contracts, such as a GBP 1.16 billion deal with the U.K. Ministry of Defense and a new order for 26 Rafale jets for the Indian Navy. The company's order intake totaled EUR 10.4 billion, resulting in a book-to-bill ratio above 1. Sales increased by 8.1% to EUR 10.3 billion, and adjusted EBIT rose by 12.7% to EUR 1.2 billion, yielding a margin of 12.2%. Adjusted net income was EUR 877 million, or EUR 937 million excluding a temporary French corporate tax. Free operational cash flow was robust at EUR 499 million, while net debt increased to EUR 3.4 billion. Thales upgraded its full-year guidance, forecasting organic growth of 6% to 7% and an adjusted EBIT margin of 12.2% to 12.4%, driven by strong defense demand and ongoing strategic initiatives.

Strong Sales Growth

Thales achieved a high single-digit sales growth in the first half of the year, primarily driven by the Avionics and Defense segments, with sales up 8.1% to EUR 10.3 billion.

Record Order Intake

The company reported EUR 10.4 billion worth of orders, reflecting a robust demand for Thales products and solutions, with a book-to-bill ratio above 1.

Defense Segment Performance

Defense sales recorded a sharp organic growth of 12.7%, driven by a strong commercial momentum and continuous production ramp-up.

Adjusted EBIT Growth

Adjusted EBIT reached EUR 1.2 billion, showing a solid 12.7% organic growth, with an EBIT margin increase to 12.2%.

Strong Free Cash Flow

H1 2025 witnessed a particularly strong free operational cash flow of EUR 499 million, reflecting a significant improvement in working capital management.

Thales SA Unsponsored ADR (THLLY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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THLLY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2026	2025 (Q4)	- / -	0.02	―	―	―
Jul 23, 2025	2025 (Q2)	- / 0.71	1.068	-33.90% (-0.36)
Mar 04, 2025	2024 (Q4)	- / 0.02	0.386	-94.82% (-0.37)
Jul 23, 2024	2024 (Q2)	- / 1.07	0.67	59.40% (+0.40)
Mar 05, 2024	2023 (Q4)	- / 0.39	0.533	-27.58% (-0.15)
Jul 21, 2023	2023 (Q2)	- / 0.67	0.581	15.32% (+0.09)	―	―
Mar 08, 2023	2022 (Q4)	- / 0.53	0.715	-25.45% (-0.18)	―	―
Mar 03, 2022	2021 (Q4)	- / 0.71	0.464	54.09% (+0.25)	―	―
Jul 23, 2021	2021 (Q2)	- / 0.49	0.067	631.34% (+0.42)	―	―
Mar 04, 2021	2020 (Q4)	- / 0.46	0.589	-21.22% (-0.12)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

THLLY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$57.16	$55.85	-2.29%
Mar 04, 2025	$46.30	$47.66	+2.94%
Jul 23, 2024	$33.27	$30.93	-7.03%
Mar 05, 2024	$29.46	$32.16	+9.16%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Thales SA Unsponsored ADR (THLLY) report earnings?

Thales SA Unsponsored ADR (THLLY) is schdueled to report earning on Feb 26, 2026, Before Open (Confirmed).

What is Thales SA Unsponsored ADR (THLLY) earnings time?

Thales SA Unsponsored ADR (THLLY) earnings time is at Feb 26, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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