Hexagon Composites earnings date
Hexagon Composites (2HX) Q3 2026 Earnings Report
CH:2HX Q3 2026 EPS Results
- Actual EPS
- -CHF 0.01
- Consensus EPS
- -CHF 0.01
- Beat/Miss
- Missed by -CHF 0.00
- One Year Ago EPS
- -CHF 0.07
CH:2HX Q3 2026 Revenue Results
- Actual Revenue
- CHF 80.90M
- Expected Revenue
- CHF 72.90M
- Beat/Miss
- Beat by +CHF 8.00M
- YoY Revenue Growth
- +73.53%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/06/2026
- Time
- Before Open
- Conference Call
- Friday, November 6, 2026
Hexagon Composites's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive overall. Q3 revenue, EBITDA, margins, cash generation and the balance sheet all improved materially, transit delivered record volumes, Mobile Pipeline rebounded, and full-year guidance was reconfirmed with confidence in the higher side. The main challenges were slower-than-expected CNG truck adoption, weak aerospace and aftermarket activity, margin variability, and uncertainty over delivery timing and the still-developing data center opportunity.
Hexagon Composites reconfirmed its full year guidance of around NOK 300 million in EBITDA for 2026 with confidence in delivering on the higher side, while noting that upside potential around the NOK 300 million depends on product mix, industry supply chains and the timing of customer deliveries, with the possibility that some of these deliveries could move into 2027. Beyond 2026, the company expects its key markets to continue gradually to improve; it does not normally guide at this time of the year and will provide further perspectives at its Q4 report in February, but expects growth on 2026, contracted demand for Mobile Pipeline well into 2027, and a potentially significant range of outcomes depending on the truck market and further Mobile Pipeline demand. The company has a long-term margin target of 15%, which it will strive to reach, but said it cannot promise anything.
- Strongest Quarter Since Q4 2024Management described Q3 as Hexagon Composites' strongest quarter since the record Q4 of 2024, with stronger top-line activity and more normalized demand across all key business segments.
- Revenue and EBITDA GrowthQ3 revenue was NOK 929 million, up 48% from the previous quarter and 73% year-over-year. EBITDA was NOK 108 million, corresponding to a 12% margin. Year-to-date revenue reached NOK 2.2 billion and EBITDA reached NOK 234 million at an 11% margin.
- Record Transit Bus VolumesTransit delivered record quarterly volumes globally, with strong activity in both North America and Europe. Management identified transit as a key positive driver of Fuel Systems performance.
- Mobile Pipeline ReboundMobile Pipeline revenue increased to NOK 320 million, making Q3 the segment's strongest quarter since Q4 2024. The improvement was primarily driven by North American deliveries under the Certarus contract, which began in August, along with renewed activity from other customers, including those serving the oil and gas industry.
- Mobile Pipeline Profitability and Operating LeverageMobile Pipeline EBITDA increased to NOK 50 million, representing a 16% margin. Management attributed the margin growth to significantly higher volumes and operating leverage from a lower fixed-cost base compared with last year.
- Data Center and Industrial Demand DriversThe first deliveries under the USD 100 million order announced in July supported Q3 activity. Management said demand for gas-to-power applications, including data centers and industrial applications, is emerging as a new demand driver as grid and pipeline infrastructure takes longer to build.
- Large Addressable Data Center ApplicationOperational U.S. data centers currently have approximately 73 gigawatts of power-generation capacity, which is expected to more than double by 2029. The share of planned capacity expected to operate behind the meter is projected to increase from 2% to 8% as the grid becomes more constrained.
- Expansion into South AmericaHexagon signed a long-term agreement with Agrale in Argentina to supply fuel systems for CNG buses. Management described this as the company's first major vehicle OEM partnership in South America and an important step into a market with long-term potential.
- Fuel Systems Segment GrowthFuel Systems revenue was NOK 526 million and EBITDA was NOK 62 million, corresponding to a 12% margin. The segment benefited from record global transit volumes and an uptick in North American truck activity, including Mexico.
- Positive Fleet Experience with Natural Gas TrucksManagement said fleets trialing the new generation of natural gas trucks report positive operational experience, including sufficient power and torque to replace diesel in heavy-duty, long-haul and high-energy-intensive applications. The company continued deliveries to Mexico, where a CNG truck fleet rollout is underway.
- Strong Cash Generation and Working Capital ReleaseCash generation was described as very strong during the quarter. Inventory contributed NOK 127 million as finished goods built during the first half of the year converted into Q3 deliveries, while prepayments and other working-capital items also contributed positively.
- Strengthened Balance SheetNet interest-bearing debt fell to NOK 275 million at quarter-end from NOK 678 million in Q2. Available liquidity increased to around NOK 1.3 billion, and the equity ratio was 56%. Management said the balance sheet provides significant flexibility and capacity to support profitable growth.
- Full-Year Guidance ReconfirmedManagement reconfirmed full-year 2026 EBITDA guidance of around NOK 300 million and expressed confidence in delivering on the higher side. The company cited commercial visibility for the rest of the year and a strong Q4 order backlog.
- Improved Position Heading into 2027Management expects growth in 2027 compared with 2026 and said the company enters 2027 on a much better footing. Contracted Mobile Pipeline demand extends well into 2027, while transit, refuse and aftermarket were described as resilient segments. The company continues to target a long-term 15% margin.
- Continued Investment in Growth ApplicationsHexagon plans to continue expanding its technology across regions and adjacent segments, including mobile pipeline applications for backup power, peak shaving, fuel redundancy and behind-the-meter gas-power solutions.
CH:2HX Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 11, 2027 | 2026 (Q4) | -0.00- | -0.01 | ― | ― |
| Nov 06, 2026 | 2026 (Q3) | -0.01-0.01 | -0.07 | 88.75% (+0.06) | |
| Aug 06, 2026 | 2026 (Q2) | -0.02-0.01 | -0.07 | 89.35% (+0.06) | |
| May 13, 2026 | 2026 (Q1) | -0.04-0.04 | -0.22 | 83.40% (+0.19) | |
| Feb 12, 2026 | 2025 (Q4) | -0.04-0.01 | -0.27 | 97.57% (+0.26) | |
| Nov 06, 2025 | 2025 (Q3) | -0.06-0.07 | 0 | -8100.00% (-0.07) | |
| Aug 14, 2025 | 2025 (Q2) | -0.04-0.07 | -0.04 | -60.42% (-0.03) | |
| May 15, 2025 | 2025 (Q1) | -0.06-0.22 | -0.07 | -227.37% (-0.15) | |
| Feb 13, 2025 | 2024 (Q4) | 0.01-0.27 | -0.34 | 20.72% (+0.07) | |
| Nov 07, 2024 | 2024 (Q3) | 0.000.00 | -0.07 | 101.21% (+0.07) |
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.
