EarningsQ2 2026 Earnings Report

Firstgroup (FGR) Q2 2026 Earnings Report

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Previous Report: Q4 2025

Next Report: Q4 2026

DE:FGR Q2 2026 EPS Results

Actual EPS€0.12

Consensus EPS―

Beat/Miss―

One Year Ago EPS€0.10

DE:FGR Q2 2026 Revenue Results

Actual Revenue€2.71B

Expected Revenue―

Beat/Miss―

YoY Revenue Growth-1.98%

Earnings Announcement Details

QuarterQ2 2026

Date11/18/2025

TimeBefore Open

Conference CallTuesday, November 18, 2025

DE:FGR Upcoming Earnings

Firstgroup's next earnings date is estimated for November 25, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

No earnings call audio is available for this earnings event.

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Nov 18, 2025|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call highlights significant revenue growth, strategic acquisitions, operational efficiencies, and sustainability initiatives. However, these are balanced by challenges in bus volume decline due to economic factors, inflationary pressures, and the costs associated with open access rail expansion. Despite these challenges, the company has managed to maintain a strong financial position and propose a higher dividend.

Company Guidance

During FirstGroup's 2026 Half Year Results Presentation, they reported substantial growth despite economic challenges, with group adjusted revenue increasing by 30% to GBP 834 million, largely due to the acquisition of First Bus London. Adjusted earnings per share rose by 16% to 9.9p, supported by the repurchase of approximately 22 million shares. The Board proposed an interim dividend of 2.2p per share, a 29% increase from the previous year. First Bus achieved a 24% reduction in lost mileage to 1.3% and improved its Net Promoter Score to plus 15. FirstGroup's adjusted operating profit reached GBP 103.6 million, up 2.8%, and adjusted earnings grew by 7.1% to GBP 55.5 million. The company maintained a strong balance sheet, with an adjusted net debt of GBP 207.6 million and a debt cover ratio of 0.95x. Looking ahead, the group expects modest growth in adjusted EPS for the full year 2026 and aims to maintain this level in 2027, with a focus on U.K. growth and diversification strategies.

Significant Increase in Group Adjusted Revenue

Group adjusted revenue increased by 30% to GBP 834 million, driven largely by the acquisition of First Bus London.

Adjusted Earnings Growth

Adjusted earnings per share increased by 16% to 9.9p, supported by the repurchase of circa 22 million shares.

Interim Dividend Proposal

The Board proposed an interim dividend of 2.2p per share, up 29% against the prior year.

Reduction in Lost Mileage

First Bus achieved a 24% reduction in lost mileage to 1.3%.

Operational Efficiency and Cost Savings

Annualized overhead savings of around GBP 15 million were achieved, with GBP 7 million efficiencies through electrification progress and overhead savings.

Sustainability Initiatives

Progress in fleet electrification with 23% of the fleet now zero emission and the launch of First Charge.

Open Access Rail Expansion

Approval of extension of Lumo services to Glasgow and new Stirling to London Houston service, increasing seat miles capacity.

DE:FGR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 25, 2026	2027 (Q2)	- / -	0.117	―
Jun 18, 2026	2026 (Q4)	- / 0.14	0.144	-4.92% (>-0.01)
Nov 18, 2025	2026 (Q2)	- / 0.12	0.1	16.47% (+0.02)
Jun 10, 2025	2025 (Q4)	- / 0.14	0.074	93.65% (+0.07)
Nov 14, 2024	2025 (Q2)	0.10 / 0.10	0.092	8.97% (<+0.01)
Jun 11, 2024	2024 (Q4)	- / 0.07	0.146	-49.19% (-0.07)
Nov 23, 2023	2024 (Q2)	- / 0.09	0.051	81.40% (+0.04)
Jun 08, 2023	2023 (Q4)	- / 0.15	0.2	-27.06% (-0.05)
Nov 09, 2022	2023 (Q2)	0.04 / 0.05	0.078	-34.85% (-0.03)
Jun 14, 2022	2022 (Q4)	0.02 / 0.20	0.021	844.44% (+0.18)

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