Skip to main content

Go Premium in Our Biggest Sale Ever

UPGRADE NOW
TipRanks
Go Ultimate75% OFF

Fincantieri S.p.A. (1F80) Q3 2026 Earnings Report

10 Followers

DE:1F80 Q3 2026 EPS Results

Actual EPS
―
Consensus EPS
―
Beat/Miss
―
One Year Ago EPS
EUR 0.15

DE:1F80 Q3 2026 Revenue Results

Actual Revenue
―
Expected Revenue
EUR 2.04B
Beat/Miss
―
YoY Revenue Growth
―

Earnings Announcement Details

Quarter
Q3 2026
Date
11/12/2026
Time
TBA
Conference Call
Thursday, November 12, 2026
DE:1F80 Upcoming Earnings

Fincantieri S.p.A.'s next earnings date is estimated for March 10, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

No earnings call audio is available for this earnings event.

Q3 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 12, 2026|% Change Since:-5.17%|
Earnings Call Sentiment|Positive

The call was strongly positive overall. Fincantieri reported double-digit EBITDA growth, expanding margins, sustained cash generation, significant deleveraging, record backlog, strong order intake and improved 2026 EBITDA and leverage guidance. The company also highlighted major defense wins, Underwater growth, long-term vessel visibility, acquisitions and digital and capacity investments. Offsetting issues included slightly lower revenue, revenue guidance expected at the lower end, contract effectiveness and financing dependencies, working-capital movements, acquisition approval timing and uncertainty around public-sector defense procurement schedules.

Company Guidance

For 2026, Fincantieri confirmed revenue guidance at EUR 9.3 billion to EUR 9.4 billion, with revenues expected at the lower end of the range; raised full year EBITDA guidance to EUR 715 million to EUR 725 million from the previous EUR 700 million to EUR 710 million range; confirmed net profit in the range of EUR 140 million to EUR 180 million; and improved leverage guidance to around 1.7x, 1.0x including the capital increase completed in February 2026. The acquisitions announced in July are expected to deliver an estimated EPS uplift of approximately 30% in 2028 and 20% in 2030 and a contribution of approximately EUR 130 million to group net profit in 2030 on a pro forma basis, with their completion having no impact on 2026 adjusted net debt-to-EBITDA guidance and expected to improve the leverage targets set out in the Business Plan for 2028 and 2030.

  • Double-Digit EBITDA Growth and Margin ExpansionFirst-nine-month EBITDA increased 10.9% year over year to EUR 511 million, while EBITDA margin expanded to 7.7% from 6.9% in the first 9 months of 2025, supported by improved execution, favorable pricing dynamics and the growing contribution from Underwater.
  • Improved 2026 EBITDA and Leverage GuidanceFincantieri raised its 2026 EBITDA guidance to EUR 715 million to EUR 725 million from the previous EUR 700 million to EUR 710 million range. Leverage guidance improved to around 1.7x, or 1.0x including the February 2026 capital increase. Net profit guidance was confirmed at EUR 140 million to EUR 180 million.
  • Strong Cash Generation and DeleveragingAdjusted net debt declined to EUR 730 million at the end of September from EUR 1.3 billion at year-end 2025 and EUR 756 million in June 2026. Leverage improved to 1.0x EBITDA from 1.9x at year-end 2025, or 1.7x excluding the benefit of the capital increase.
  • Record Backlog and Revenue VisibilityTotal backlog reached EUR 72.6 billion, up almost 15% from year-end 2025 and equivalent to roughly 7.9x 2025 revenues. Effective backlog reached a record EUR 44.7 billion, up almost 9% from year-end 2025 and equivalent to approximately 4.9x 2025 revenues. Soft backlog increased to roughly EUR 28 billion from EUR 22.1 billion.
  • Healthy Order Intake and Book-to-BillOrder intake reached EUR 9.7 billion in the first 9 months of 2026, representing approximately 90% of the annual target of around EUR 11 billion set at the Capital Markets Day. The book-to-bill ratio was 1.5x. An additional EUR 12.3 billion of signed contracts remained outside order intake because the contracts were not yet effective.
  • Long-Term Cruise Order VisibilityThe order book contained 90 vessels with deliveries scheduled through 2036, while contracts signed during 2026 extend delivery visibility through 2039. In cruise, 30 of the 36 vessels in the order book are sister ships, supporting execution efficiencies, cost optimization, margin expansion and derisking of the backlog.
  • Cruise Revenue and Profitability GrowthCruise revenues increased 9.1% year over year, driven by positive price evolution and continuous improvement in operating leverage. Cruise profitability was supported by pricing, cost management, procurement optimization, risk management and execution improvements.
  • Underwater Segment AccelerationUnderwater revenues increased 37.6% to EUR 531 million, with its contribution to total revenues rising to 7.3% from 5.3% in the same period of 2025. Underwater EBITDA grew 40.1% to EUR 93 million, and EBITDA margin improved to 17.6% from 17.3%.
  • Growth Across Offshore and Equipment BusinessesOffshore and Specialized Vessels revenues increased 8% to approximately EUR 1.1 billion, while EBITDA increased 8% to EUR 61 million, with a 5.4% margin. Equipment, Systems and Infrastructure revenues increased almost 12% to EUR 1.037 billion, supported by Mechatronics growth of 19.7% and Infrastructure growth of 10%. Segment EBITDA increased 1.8% to EUR 70 million, with electronics and digital products EBITDA up 34.1%.
  • Shipbuilding Profitability ImprovementShipbuilding EBITDA increased 5.9% to EUR 335 million. Shipbuilding EBITDA margin expanded to 7.3%, reflecting higher cruise profitability, good pricing and execution, and contributions from higher-margin defense programs.
  • Strong Industrial ExecutionFincantieri delivered 19 vessels from 10 shipyards during the first 9 months of 2026: 6 cruise vessels, 1 defense vessel, 11 Offshore and Specialized Vessels, and 1 Underwater vessel. The company expects to deliver 8 cruise vessels during the year, with 6 already delivered in the first 9 months.
  • Major DDX Defense ContractFincantieri signed a contract for 2 next-generation DDX destroyers for the Italian Navy with a total value of approximately EUR 1.8 billion, including around EUR 800 million in options related to the second vessel. The first DDX has entered order intake, with revenue contributions expected from 2027; deliveries are expected in 2033 and 2035.
  • Expansion of Defense Commercial PipelineThe company reported additional defense opportunities involving FREMM EVO frigates for Portugal and Italy, the transfer of 2 Italian Navy FREMM frigates to Greece, the Indonesian Navy modernization framework, the U.S. Navy Medium Landing Ships program, the PPA program upgrade, the Logistic Support Ship and J3MS programs, and further U.S. Navy opportunities.
  • Initial U.S. Medium Landing Ships AwardFincantieri Marine Group secured the first U.S. Navy contract under the Medium Landing Ships program, with an initial value of approximately $30 million for long-lead items. Management said negotiations for the construction order were at the final stage and expected to materialize in the short term.
  • Diversification and New Specialized Vessel OrdersIn Offshore and Specialized Vessels, VARD secured its largest-ever single-vessel order for a next-generation deep-sea research vessel and also signed contracts for an advanced stern trawler, 2 multimission buoy and lighthouse maintenance vessels, and a commissioning service operation vessel.
  • Record Underwater Contract and AcquisitionsWASS Submarine Systems secured its largest contract in history with the Royal Saudi Naval Force for lightweight torpedoes and signed an amendment with OCCAR worth approximately EUR 317 million for logistics support and countermeasure systems for the U212 NFS submarine program. The acquisitions announced in July are expected to provide approximately EUR 130 million of pro forma group net profit in 2030, with estimated EPS uplift of approximately 30% in 2028 and 20% in 2030.
  • Physical AI and Digital Shipbuilding InitiativeFincantieri announced a partnership with Poste Italiane and TIM to create Italy's national Physical AI value chain. The initiative will apply industrial AI, automation, robotics, 4D models and workflow optimization to ship design and construction within a secure and sovereign digital ecosystem. The Ontology platform is expected to begin going online module by module in the first quarter of 2027, starting at Monfalcone and expanding across the group.
  • Capacity Expansion and Capital Investment ProgressThe new large cranes at the Monfalcone shipyard were successfully finalized. Additional expansion is planned for the Muggiano and Riva defense shipyards, with the most important infrastructure phase expected in the second half of 2027 and beginning of 2028. The company is also reinforcing equipment at Castellammare di Stabia, Palermo and other shipyards.
  • Expected Benefits from Underwater AcquisitionsManagement said the acquisitions announced in July are expected to be highly accretive and that their completion will not affect 2026 adjusted net debt-to-EBITDA guidance. The acquisitions are expected to improve the leverage targets set out in the Business Plan for 2028 and 2030, while the February capital increase proceeds are fully dedicated to funding them.

DE:1F80 Earnings History

DE:1F80 earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 10, 20272026 (Q4)―-0.26――
Nov 12, 20262026 (Q3)―-0.15―
Jul 29, 20262026 (Q2)―0.300.15102.67% (+0.15)
May 11, 20262026 (Q1)―-0.28―
Mar 25, 20262025 (Q4)―0.260.28-7.09% (-0.02)
Nov 12, 20252025 (Q3)―--0.14―
Jul 30, 20252025 (Q2)0.150.15-0.14203.45% (+0.29)
May 12, 20252025 (Q1)―--0.15―
Mar 24, 20252024 (Q4)―0.28-0.15289.26% (+0.43)
Nov 14, 20242024 (Q3)―--0.09―

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