Epiroc AB(DE:3AD)
€22.00+-0.20 (+2.80%)
DE:3AD
Epiroc AB earnings date
€22.00
At close:+-0.20 (+2.80%)
Epiroc AB (3AD) Q3 2026 Earnings Report
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DE:3AD Q3 2026 EPS Results
- Actual EPS
- EUR 0.18
- Consensus EPS
- EUR 0.19
- Beat/Miss
- Missed by -EUR 0.01
- One Year Ago EPS
- EUR 0.17
DE:3AD Q3 2026 Revenue Results
- Actual Revenue
- EUR 1.55B
- Expected Revenue
- EUR 1.55B
- Beat/Miss
- Missed by -EUR 1.98M
- YoY Revenue Growth
- +8.52%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/28/2026
- Time
- Before Open
- Conference Call
- Wednesday, October 28, 2026
DE:3AD Upcoming Earnings
Epiroc AB's next earnings date is estimated for January 26, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:3AD Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. Epiroc reported double-digit organic order growth, solid revenue growth, improved margins in both business areas, strong mining demand, a broad project pipeline and progress on efficiency and manufacturing initiatives. The main challenges were lower operating cash flow and cash conversion due to inventory and working capital, slower conversion of equipment orders into revenue, low infrastructure demand, and specific weakness or uncertainty in nickel, Chilean copper output, Cobre Panama and Fortescue shipments. The highlights significantly outweighed the lowlights.
Company Guidance
Management maintained effective tax rate guidance at 22% to 24% and CapEx guidance at around 2% to 3%. Looking ahead, Epiroc expects mining demand to remain high and demand from infrastructure customers to remain stable; construction and infrastructure demand is still on a low level, is somewhat better than some quarters ago, and is expected to continue to be on the level we are at moving forward.
- Strong Group Orders and Mining DemandGroup orders increased 15% on a reported basis and 12% organically to SEK 17.5 billion, with mining clearly driving growth. Demand was strong across exploration, underground equipment, digital solutions and service.
- Large Equipment Orders IncreasedLarge equipment orders amounted to SEK 790 million, including a SEK 610 million underground mine order in Botswana, described as Epiroc's second-largest order ever. Large orders were approximately SEK 790 million versus SEK 470 million last year.
- Revenue and Profitability GrowthRevenue increased 10% to SEK 16.8 billion, representing 7% organic growth. Adjusted EBIT increased 18% to SEK 3.4 billion, while the adjusted operating margin improved to 20.4% from 19.0% last year.
- Efficiency Measures Supported Margin ExpansionThe organic EBIT contribution to the margin was 1.5 percentage points, supported by higher invoicing and efficiency measures implemented in previous quarters. Epiroc said the benefits of its efficiency work are increasingly visible.
- Equipment & Service Delivered Strong ResultsEquipment & Service orders increased 19% in total and 15% organically. Revenues increased 8% organically, with service revenue up 10% and equipment revenue up 5% organically. Adjusted EBIT increased 20% to just above SEK 3 billion, and the adjusted margin improved to 23.8% from 21.9%.
- Exceptional Equipment & Service Flow-ThroughEquipment & Service flow-through was more than 50%, which management described as exceptionally strong. The improvement was attributed primarily to higher revenues and operating more efficiently, rather than a significant mix effect.
- Aftermarket and Service GrowthAftermarket represented 67% of quarterly revenues. Service orders grew 13% organically, with midlife rebuilds and digital solutions for automation and safety among the strongest-growing areas.
- Tools & Attachments ImprovedTools & Attachments orders increased 4% organically to SEK 3.9 billion, driven by mining, while attachment demand remained stable. Revenues increased 6% organically to SEK 4.0 billion, adjusted EBIT increased 23% to SEK 531 million, and the adjusted margin reached 13.2% versus 11.6% last year.
- Broad and Healthy Mining PipelineManagement said the demand picture was broader than individual large projects, with a strong pipeline and healthy underlying mining activity. The pipeline was described as strong for both surface and underground equipment, including a high share of copper-related expansion, greenfield and fleet-replacement projects.
- Strong Copper Project PipelineEpiroc reported a very strong copper pipeline for Q4 and Q1, including greenfield projects, expansions of existing mines and fleet replacement. Management said the pipeline remained unchanged from six months ago despite somewhat softer gold prices in the last quarter.
- Stable Production Ramp-Up and Normal Lead TimesLead times remained at normal levels, and production was ramped up according to plan without supply-chain bottlenecks. Underground equipment lead times were described as approximately 6 to 7 months, while large surface platform rigs could have lead times of up to 12 months.
- Manufacturing and Distribution Investments ProgressingEpiroc inaugurated its modernized Kalmar facility in Sweden, reported good progress expanding manufacturing capabilities in Nashik, India, and continued work on its new distribution center in Orebro, Sweden. The transfer of tool production from Langley, Canada, to Matehuala, Mexico, was proceeding according to plan.
- Continued Workforce ExpansionThe number of employees, including additional workforce, increased 5% in the quarter, corresponding to 1,100 people. The additions were primarily in production, service and logistics to support the higher level of activity.
- Strong Balance Sheet and Capital EfficiencyNet debt was SEK 11.2 billion, net debt-to-EBITDA decreased to 0.70, and return on capital employed increased to 19.8%, supported particularly by higher operating profit. Management said the company had financial capacity to invest in growth while maintaining a strong balance sheet.
- Customer Safety Innovation Demonstrated in MexicoDuring a fire at a mining operation in Mexico's Fresnillo district, around 350 people were evacuated. Epiroc's situational-awareness technology supported the operation, and the evacuation was completed safely in 35 minutes, which management said was significantly quicker than without the solution.
- Digital and Automation InnovationEpiroc's Yieldpoint digital monitoring solution was deployed in a 3,000-year-old tomb in Egypt to detect rock movement at micrometer scale and provide insight into rock stability. The company also highlighted a common system for autonomous underground-to-surface haulage with advanced obstacle detection.
- Pricing and Cost CompensationManagement said Epiroc was pleased with how it was compensating for cost increases. Although some costs related to tariffs remained, the company said it was compensating for cost increases in a good way.
- Positive Mining and Infrastructure OutlookEpiroc expects mining demand to remain high and infrastructure demand to remain stable. The company remains committed to profitable growth, and management said it saw high activity levels across service.
- Capital Expenditure Guidance MaintainedCapital expenditure guidance remained around 2% to 3%, consistent with the guidance provided at the Capital Markets Day.
DE:3AD Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 26, 2027 | 2026 (Q4) | 0.22- | 0.18 | ― | ― |
| Oct 28, 2026 | 2026 (Q3) | 0.190.18 | 0.17 | 7.98% (+0.01) | |
| Jul 17, 2026 | 2026 (Q2) | 0.190.18 | 0.17 | 5.13% (+0.01) | |
| Apr 29, 2026 | 2026 (Q1) | 0.180.16 | 0.17 | -4.21% (-0.01) | |
| Jan 26, 2026 | 2025 (Q4) | 0.190.18 | 0.18 | 2.99% (+0.01) | |
| Oct 29, 2025 | 2025 (Q3) | 0.170.17 | 0.15 | 15.34% (+0.02) | |
| Jul 18, 2025 | 2025 (Q2) | 0.170.17 | 0.16 | 9.55% (+0.02) | |
| Apr 29, 2025 | 2025 (Q1) | 0.170.17 | 0.14 | 17.28% (+0.02) | |
| Jan 30, 2025 | 2024 (Q4) | 0.160.18 | 0.15 | 16.86% (+0.03) | |
| Oct 25, 2024 | 2024 (Q3) | 0.170.15 | 0.16 | -8.43% (-0.01) |
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
