Draegerwerk AG & Co. KGaA (DGWPF) Q3 2026 Earnings Report
DGWPF Q3 2026 EPS Results
- Actual EPS
- $2.03
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $2.14
DGWPF Q3 2026 Revenue Results
- Actual Revenue
- $950.16M
- Expected Revenue
- $950.42M
- Beat/Miss
- Missed by -$260.22K
- YoY Revenue Growth
- +2.10%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
Draegerwerk AG & Co. KGaA's next earnings date is estimated for March 17, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was predominantly positive. Dräger reported strong nine-month order intake, sales, earnings, cash flow, balance-sheet improvement and Safety division momentum, confirmed full-year guidance, and highlighted the lifting of the FDA warning letter and opportunities in defense. These positives were tempered by third-quarter EBIT and Medical performance declines, higher functional expenses, a negative net tariff effect, weaker China demand, Americas and APAC pressure in specific areas, and the need for tight fourth-quarter cost management.
For the full year of 2026, Dräger confirmed guidance for net sales growth of 2% to 6%, net of currency effects, and an EBIT margin of 6% to 8%; the target remains unchanged to keep full year expense growth below net sales growth, free cash flow is expected to continue to develop positively, and the company expects order intake and sales to be better for the remainder of the year, with the fourth quarter being the best quarter. The goal to increase defense business from roughly EUR 100 million, which was had in around '25, to around EUR 300 million is unchanged, and the dividend policy remains unchanged at distributing at least 30% of net income as dividend.
- Strong Nine-Month Top-Line and Earnings GrowthOrder intake was around EUR 2.7 billion and noticeably above the high prior-year level. Net sales grew by around EUR 110 million to around EUR 2.5 billion, while earnings rose by roughly EUR 35 million to around EUR 112 million. The EBIT margin increased to 4.6%.
- Underlying EBIT Improvement Excluding Customs RefundsAlthough the EBIT improvement was mainly due to customs refunds, the company said earnings still improved by around EUR 11 million excluding those one-off effects.
- Significant Free Cash Flow and Operating Cash Flow ImprovementFree cash flow rose considerably to around EUR 114 million from around EUR 16 million in the prior year, supported by higher earnings and effective working capital management. Operating cash flow increased by around EUR 82 million to around EUR 175 million.
- Improved Balance Sheet and Capital EfficiencyNet financial debt declined by around EUR 116 million to around EUR 106 million, and the net financial debt-to-EBITDA ratio improved to 0.3. Return on capital employed rose from 12.0% to 15.6%, while the equity ratio reached around 52%, approximately 1 percentage point above the 2025 year-end level.
- Group Order Intake and Net Sales GrowthCurrency-adjusted order intake increased by 3.6% in the first nine months and by 7% in the third quarter. Currency-adjusted net sales increased by 5.3% in the first nine months, driven by Germany, EMEA and the Americas.
- Improved Group Gross MarginThe group gross margin increased by 1.7 percentage points to 46.8%, benefiting from customs refunds.
- Safety Division Growth and ProfitabilitySafety division order intake rose 13.1% in the first nine months and 20% in the third quarter, supported by all product areas and regions. Net sales increased 6.5% in the first nine months and around 4% in the third quarter. EBIT increased from around EUR 100 million to around EUR 122 million, lifting the EBIT margin from under 10% to over 11%. Rolling 12-month EBITDA improved by around EUR 36 million to around EUR 131 million.
- Defense Solutions MomentumGerman Safety division orders grew by almost 28%, supported by a major Defense Solutions order. The order was in the low double-digit million range and will be delivered over 2 to 3 years. The company is working on additional similar multiyear defense contracts and continues to target increasing defense business from roughly EUR 100 million around 2025 to around EUR 300 million.
- Medical Division Nine-Month ImprovementMedical division net sales increased by 4.4% to around EUR 1.4 billion in the first nine months. Medical EBIT improved to minus EUR 9.7 million from minus EUR 22.7 million in the prior-year period, and the EBIT margin improved from minus 1.7% to minus 0.7%. Rolling 12-month DVA increased by EUR 31.9 million to minus EUR 13.4 million.
- Medical Gross Margin ImprovementDespite negative currency effects, the Medical division gross margin improved by 2.2 percentage points to 45.2%, due to customs refunds and a favorable product mix and country mix.
- Safety Division Gross Margin ImprovementDespite negative currency effects, the Safety division gross margin improved by 1.1 percentage points to 48.8%, due to a better product mix, country mix and customs refunds.
- FDA Warning Letter LiftedThe FDA warning letter was lifted after almost seven years. Management said the company is prepared to benefit from product approvals and from no longer having to employ resources on the work associated with satisfying the FDA requirements.
- Full-Year Guidance ConfirmedThe company confirmed its 2026 guidance for net sales growth of 2% to 6%, net of currency effects, and an EBIT margin of 6% to 8%.
- Planned Ambition 2030 Capital Markets DayThe company will present its Ambition 2030 at a Capital Markets Day in Lübeck on November 18, with live webcast access and online questions.
- Ongoing China and International Market EffortsAlthough China remains below expectations, management said it is continuing to pursue opportunities domestically and internationally. Guangdong Province is supporting Dräger by asking local tenders to promote the company in procurement processes, and Dräger hired a former chief sales person from a Chinese competitor in North America for market insights.
- Potential Future Commercial OpportunitiesManagement cited sizable defense opportunities and said Scott remains on the shortlist for a tender with the Fire Department of New York City. Management emphasized that the project cannot be counted on and would be a bonus on top of existing activities.
DGWPF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 17, 2027 | 2026 (Q4) | ―- | 5.57 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | ―2.03 | 2.14 | -5.21% (-0.11) | |
| Jul 30, 2026 | 2026 (Q2) | 1.761.76 | 0.68 | 159.02% (+1.08) | |
| Apr 30, 2026 | 2026 (Q1) | 0.690.69 | -0.11 | 720.00% (+0.80) | |
| Mar 24, 2026 | 2025 (Q4) | 5.575.57 | 4.53 | 22.91% (+1.04) | |
| Oct 29, 2025 | 2025 (Q3) | 2.142.14 | 0.86 | 149.35% (+1.28) | |
| Jul 29, 2025 | 2025 (Q2) | 0.680.68 | 1.59 | -57.04% (-0.90) | |
| Apr 30, 2025 | 2025 (Q1) | ―- | 0.42 | ― | |
| Mar 31, 2025 | 2024 (Q4) | 7.01-0.11 | 0.42 | -126.46% (-0.53) | |
| Oct 29, 2024 | 2024 (Q3) | ―0.86 | 1.05 | -18.00% (-0.19) |
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.
