EarningsQ4 2026 Earnings Report
DE:REW Q4 2026 EPS Results
Actual EPS€0.87
Consensus EPS€0.87
Beat/MissMet expectations
One Year Ago EPS€0.72
DE:REW Q4 2026 Revenue Results
Actual Revenue€523.50M
Expected Revenue€522.62M
Beat/MissBeat by +€887.31K
YoY Revenue Growth+21.13%
Earnings Announcement Details
QuarterQ4 2026
Date09/23/2026
TimeBefore Open
Conference CallWednesday, September 23, 2026
DE:REW Upcoming Earnings
Renishaw's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q4 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by 14% revenue growth, 36% adjusted operating-profit growth, significant margin expansion, strong Position Measurement and Specialized Technologies performance, new-product momentum, and a positive outlook. The company also highlighted a strong balance sheet, growing order book, and continued investment in capacity and innovation. Offsetting issues included lower cash conversion, cyclical semiconductor exposure, currency and product-mix headwinds, China and European market challenges, ERP implementation problems, and volatility in additive manufacturing. Overall, the highlights significantly outweighed the lowlights.Company Guidance
Strong Full-Year Revenue and Profit Growth
Revenue increased by 14% to GBP 816 million, or 17% at constant FX. Adjusted operating profit grew by 36% to GBP 153 million, operating margin increased by 3 percentage points to 18.7%, and earnings per share grew 30%.
Dividend Increase and Special Dividend
Reflecting the year's performance and the company's strong balance sheet, management proposed a 5% increase in the regular dividend plus a special dividend of GBP 0.70 per share.
Progress Against Medium-Term Financial Targets
Management said the company is delivering high single-digit through-cycle revenue growth, operating margin is moving closer to the 20% threshold and surpassed it in the second half, cash conversion remained above the 70% target, and return on invested capital broke back above 15%.
Industrial Metrology Revenue Growth
Industrial Metrology revenue grew by 4%, or 7% at constant FX, supported by rising demand for 5-axis coordinate measuring machines and Equator gauges. Operating margin remained broadly stable at just over 17%.
Position Measurement Surge
Position Measurement revenue increased by 26%, or 29% at constant FX, led by optical encoders for semiconductor equipment and magnetic encoders for automation and robotics. Operating profit increased by more than 50%, while operating margin rose by 5 percentage points to 27.4%.
Specialized Technologies Growth and Profitability
Specialized Technologies delivered the strongest revenue growth of the three segments, increasing 43%, or 46% at constant FX. Additive manufacturing was the growth engine, supported by strong aerospace and defense demand. Segment operating margin increased by almost 18 percentage points to 4.4%, and all product lines in the segment are now profitable.
Group Margin Expansion
Group operating margin increased from 15.7% in FY2025 to 18.7% in FY2026 and exceeded 21% in the second half. Operating leverage from volume growth more than offset currency headwinds and contributed to the improvement.
Strong Financial Position
Adjusted operating cash flow was GBP 121 million. Despite lower year-on-year cash conversion, net cash increased by GBP 17 million, and the company ended the year with cash and deposit balances of GBP 291 million.
Restructuring and Productivity Initiatives
Management successfully restructured the cost base in FY2026 and is pursuing productivity improvements across manufacturing, sales, and the back office. The multiyear One Renishaw program is intended to implement standardized, globalized processes.
Manufacturing Capacity Expansion
The company plans to significantly increase manufacturing capacity in FY2027, primarily for encoders, which will result in a doubling of CapEx on production assets. The added capacity has a relatively long lead time, is expected to be fully operational by the end of the fiscal year, and has a short payback.
Growing Order Book
The order book continued to grow in Position Measurement and Specialized Technologies, with a longer order book in Position Measurement and increasingly in additive manufacturing.
AI and Semiconductor-Driven Demand
Management identified AI-related semiconductor investment as the headline market driver and said semiconductor equipment demand is producing benefits from years of innovation, customer relationships, and integrated encoder solutions.
Aerospace and Defense Momentum
The company is seeing customers invest in both capability and capacity in aerospace and defense. Additive manufacturing is benefiting from customer interest in design freedom, while ASTRiA inductive encoders are attracting interest because of their metrology, accuracy, robustness, ruggedness, and ease of installation.
ASTRiA Revenue Potential
Management said ASTRiA has the potential to become a significant revenue generator in a few years and could be a very quick transformer for the company, although it is still early in its development.
Innovation and New Product Progress
The company continues to invest over GBP 100 million a year in engineering. New products and technologies mentioned included ASTRiA, LIBERTAS, TEMPUS, Equator-X, MODUS IM, new CMM and machine-tool sensors, and a new laser encoder system.
Software Development Momentum
MODUS IM is being developed as a common programming interface across CMM and machine-tool applications, with strong feedback on ease of use and simplicity. Management is also exploring the role of AI in coordinating and programming metrology activities.
Improving European Market Conditions
Management said Europe is starting to show green shoots and is beginning to recover, with diversified machine-tool builders seeing a pickup. Recent JMTBA data was described as fairly bullish, and U.S. consumption was described as pretty strong.
Positive Near-Term Outlook
The company reported a continued growing order book, is investing in capacity to support customer demand, and expects further strong progress in revenue, profit, and operating margin in the current year.
DE:REW 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