EarningsQ4 2026 Earnings Report
DE:3BAA Q4 2026 EPS Results
Actual EPS€0.24
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.18
DE:3BAA Q4 2026 Revenue Results
Actual Revenue€4.11B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+7.68%
Earnings Announcement Details
QuarterQ4 2026
Date09/16/2026
TimeBefore Open
Conference CallWednesday, September 16, 2026
DE:3BAA Upcoming Earnings
Barratt Developments's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
DE:3BAA Q4 2026 Earnings Call
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Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was cautiously positive. Management highlighted resilient trading, higher completions, completed Redrow integration, strong synergy delivery, a robust balance sheet, planned capital returns and early success from the multi-brand strategy. These positives were offset by lower profitability and margins, pricing deflation, building-cost inflation, building-safety liabilities, planning delays, affordability constraints and macroeconomic uncertainty. The positive operational execution and financial position significantly outweighed the stated challenges.Company Guidance
Resilient FY2026 Performance
Barratt Redrow described its operational and financial performance as solid and in line with expectations despite challenging market conditions, supported by its brands, strategy, teams and supply chain.
Redrow Integration and Synergy Delivery
The Redrow integration is complete. The full GBP 100 million cost synergy target was confirmed in the second half, with a GBP 73 million profit-and-loss benefit delivered in FY2026. The company expects the annual profit-and-loss contribution to reach approximately GBP 95 million in FY2027.
Home Completions Increased 5%
The company completed 17,667 homes, up 5% from FY2025 and toward the top end of its September 2025 guidance range. Affordable completions increased 27%, PRS completions increased 20%, and joint venture completions increased 5.2% to 566. FY2027 total completion guidance is between 17,500 and 17,900 homes.
Strong Land Bank Position
The owned and controlled land bank represented 5.2 years of supply, remaining above the medium-term target of 4.5 years. The company also had 118 strategic land applications covering more than 31,000 plots.
Improved Net Cash Position and Liquidity
The company ended FY2026 with a net surplus of GBP 61.4 million, compared with net indebtedness of GBP 37 million in the prior year. The revolving credit facility was increased from GBP 700 million to GBP 900 million and extended to July 2031, with two potential extensions to July 2033.
Enhanced Shareholder Returns
For FY2027, total capital return is planned at GBP 400 million, including GBP 386 million through share buybacks. The company has returned nearly GBP 3.5 billion to shareholders over the last 10 years, including GBP 1 billion through share buybacks or special dividends.
Multi-Brand Strategy Showing Early Traction
Multi-branded outlets accounted for 44% of total outlets at year-end. Across three triple-branded developments, each development was selling more than 1.5 homes per week compared with around 0.5 homes per week before triple branding. The blended sales rate was in line with the underlying rate for the whole group over the first 10 weeks of FY2027.
Stable Private Reservation Rate
The FY2026 underlying private reservation rate was slightly ahead of FY2025 at 0.56 reservations per outlet per week. The company said the rate remained resilient during the first 10 weeks of FY2027 and had not weakened through that period.
Part Exchange Adoption Increased
Part Exchange accounted for 21% of nonaffordable reservations in FY2026, up from 14% in FY2025. Of the GBP 228 million of Part Exchange properties held on the balance sheet at year-end, all but GBP 22 million had been sold.
Average Selling Price Increased 2.2%
The wholly owned average selling price increased 2.2% to GBP 351,700, driven by product and geographic mix, including a slightly larger average unit size and greater contribution from higher-priced regions.
Cost and Operating Efficiency Initiatives
Administrative expenses were GBP 90 million lower than the stand-alone businesses in FY2024 and came in below original guidance for FY2026. The company is reducing the Barratt and David Wilson house-type range from more than 500 variations to under 100, with the new range designed to comply with the Future Homes Standard and support procurement and build-time efficiencies.
Cash Generation From Lower Land Investment
Reduced investment in land unlocked GBP 328 million of cash in FY2026. The company also invested a net GBP 102 million in joint ventures, including the MADE Partnership and the new Gilston joint venture with Places for People.
Customer and Build-Quality Recognition
The company achieved a 5-star housebuilder rating for the 17th consecutive year and received 122 NHBC Pride in the Job Awards. All three brands received an Excellent rating on Trustpilot.
Strong ESG and Community Credentials
Barratt Redrow reported a CDP A rating for carbon and more than GBP 25 million donated to charity over the last six years.
Improving Institutional and Mortgage Market Support
The company reported renewed institutional investor interest in the multiunit market, particularly in single-family housing and London. Mortgage product availability and competition among lenders improved, including an increase in higher loan-to-value mortgages. The company continues to offer deposit matching for eligible first-time buyers.
Policy Support for Housing Supply and Demand
Management welcomed recent planning policy changes and cited the government's Help to Buy report as supportive, stating that Help to Buy enabled nearly 400,000 people to purchase a home, including 300,000 first-time buyers, with an estimated GBP 25 billion total benefit to the economy.
DE:3BAA Earnings History
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