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EarningsQ2 2026 Earnings Report
DE:SRT Q2 2026 EPS Results
Actual EPS€1.29
Consensus EPS€1.32
Beat/MissMissed by -€0.03
One Year Ago EPS€1.22
DE:SRT Q2 2026 Revenue Results
Actual Revenue€911.80M
Expected Revenue€933.23M
Beat/MissMissed by -€21.43M
YoY Revenue Growth+3.11%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
DE:SRT Upcoming Earnings
Sartorius's next earnings date is estimated for October 22, 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
Earnings Call Sentiment|Positive
The call conveyed a largely positive operational picture: solid organic growth (notably in consumables), improving profitability, strong cash generation and progress on deleveraging, alongside meaningful product and technology milestones. Key near-term risks are external and technical (U.S. tariff refunds/compensation, timing delays from two advanced-modality customers, product mix headwinds and FX), but management confirmed full-year guidance and emphasized that underlying demand and fundamentals remain intact.Company Guidance
Solid Group Revenue Growth (Operational)
Group sales revenue increased by 7.7% on an operational basis in H1 (constant currencies). Including tariff-related effects, growth was 6.2% in constant currencies and 2.5% on a reported basis.
Strong Consumables and Recurring Revenue
Consumables remained the primary growth driver with slightly more than 9% operational growth in H1; recurring business in Bioprocess Solutions also grew at just above 9%. Since 2019, consumables have grown at a double-digit CAGR, outpacing the market.
Bioprocessing Solutions Performance
Bioprocess Solutions delivered 8.3% operational sales growth (constant currencies). Underlying EBITDA for BPS was EUR 477m with an underlying EBITDA margin of 32.3%, up 70 basis points year-on-year.
Lab Products & Services Momentum
Lab Products & Services grew 5.3% on an operational basis (constant currencies) in H1; MATTEK contributed approximately 2.8 percentage points. Underlying EBITDA was EUR 71m with a margin of 21.2%.
Improved Profitability at Group Level
Group underlying EBITDA rose to EUR 548m (+3.9%) and the underlying EBITDA margin expanded to 30.3% (up 50 basis points). Underlying net profit increased 2% to EUR 172m and underlying EPS increased to EUR 2.49 (ordinary).
Very Strong Cash Generation and Deleveraging
Net operating cash flow increased by almost 26% to EUR 364m and free cash flow rose by more than 70% to EUR 208m. Leverage improved: net debt to underlying EBITDA moved to 3.5x (from 3.55x) and the equity ratio increased to 41.6%.
Confirmed Full-Year Guidance
Management confirmed FY2026 guidance: group sales growth of 5%–9% (constant currencies) and an underlying EBITDA margin slightly above 30%. Bioprocess Solutions guidance confirmed at 6%–10% growth with ~32% margin; LPS guidance confirmed around 6% with margin slightly below 21%.
Product and Technology Milestones
Notable innovation/launches: Bionic (2 Pionic Modules Quad & Cross) enabling continuous downstream, Ambr 250 high-throughput vessel, Cubis III premium balance, and continued adoption of Incucyte AI image analysis (including 3 new top-10 pharma customers). Management noted strong customer adoption and commercial/CGMP traction for Bionic and other platforms.
DE:SRT 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