Andritz AG (1ANDR) Q3 2026 Earnings Report
IT:1ANDR Q3 2026 EPS Results
- Actual EPS
- EUR 1.28
- Consensus EPS
- EUR 1.25
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- EUR 1.14
IT:1ANDR Q3 2026 Revenue Results
- Actual Revenue
- EUR 2.06B
- Expected Revenue
- EUR 2.00B
- Beat/Miss
- Beat by +EUR 59.33M
- YoY Revenue Growth
- +9.15%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
IT:1ANDR Upcoming Earnings
Andritz AG's next earnings date is estimated for March 11, 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
Earnings Call Sentiment|Positive
The call was strongly positive overall. The company reported higher revenue, EBITDA and net income, record backlog, strong order intake, substantial cash-flow improvement, higher liquidity, improved Hydropower and Metals profitability, ESG progress and confirmed guidance. The main challenges were Environment & Energy margin pressure from new-project learning effects, subdued investment conditions in parts of the market, ongoing restructuring costs, financial-result comparison effects and uncertainty around some future investment and acquisition decisions. Highlights significantly outweighed lowlights.
Company Guidance
For 2026, Andritz confirmed revenue guidance of EUR 8 billion to EUR 8.3 billion and comparable EBITA of 8.7% to 9.1%, saying it might more move towards the upper end on revenue and feels comfortable with the midpoint on comparable EBITA; it does not expect a decline in order intake quarter-on-quarter in Q4 and would not guide for any percentage increase. Environment & Energy margins are expected for the next quarters to be towards the lower end of the margin corridor or slightly below, while the current Q3 tax rate of 23.5% is expected to continue to the end of the year, being on the same level as in '23. The new 2029 midterm targets remain EUR 12 billion of revenue and a comparable EBITA margin of 10%, with new margin corridors for Metals and Hydropower and harmonized targets for Environment & Energy.
- Strong Q3 Group PerformanceRevenue increased 9% year over year to EUR 2.1 billion. Q3 EBITDA increased 10% to EUR 185 million, or 9% on a comparable basis and 8.5% on a reported basis. Net income rose 14% to EUR 127 million.
- Record Order Backlog and Positive Book-to-BillOrder intake was EUR 2.2 billion in Q3, with the company recording an eighth consecutive quarter above EUR 2 billion and with book-to-bill above 1. Order backlog reached a new all-time high of EUR 12.7 billion, and the book-to-bill ratio was 1.4.
- Hydropower Order and Revenue GrowthHydropower order intake increased 34% in Q3 and 68% in the first three quarters. Revenue increased 25% in Q3 and 17% in the first nine months, reflecting the beginning of conversion of large prior orders into sales.
- Hydropower Margin ImprovementHydropower profitability reached 8.9% in Q3 and 7.7% in the first nine months, increases of 190 basis points and 130 basis points, respectively, from the prior year. Management said the Q3 level was driven by a higher percentage of new orders and fewer legacy projects in sales, with no one-time effect.
- Metals Restructuring Delivering ResultsMetals order intake increased 21% in Q3 and 9% in the first three quarters. Q3 profitability reached 7.0%, up 60 basis points year over year and at the lower end of the new 2029 target range. The first-nine-month EBITA margin was 6.3%, also up 60 basis points, supported by restructuring and improved project execution.
- Pulp & Paper Revenue and Profitability ResiliencePulp & Paper revenue increased 9% in Q3 and 7% in the first nine months, while profitability remained at a high level. Performance was supported by the Capital business and growing Service business.
- Strong Position in Chinese Pulp MarketManagement said the Chinese paper industry's trend toward backward integration into pulp making continues to support demand. Andritz has a strong position in China, with market shares well above 50%, and expects the trend to continue into next year.
- Environment & Energy Fourth-Quarter Order ExpectationsAlthough Environment & Energy order intake declined 6% in Q3 and 10% in the first three quarters, management said the project pipeline remains active and expects some major orders to be booked in the fourth quarter.
- Improved EBITDA and Net Income for Nine MonthsFor the first nine months, EBITDA increased by EUR 50 million to EUR 627 million, and the EBITDA margin improved to 10.6% from 10.4%. Net income increased to EUR 328 million, with the net income margin expanding to 5.6%.
- Strong Cash Flow GenerationQ3 operating cash flow increased to EUR 320 million, 121% above the prior-year quarter. First-nine-month operating cash flow increased to EUR 611 million from EUR 314 million, while free cash flow reached EUR 411 million versus EUR 150 million in the prior-year period.
- Working Capital ImprovementOperating net working capital improved sequentially for the fourth consecutive quarter to EUR 761 million and reverted to 9% of revenue. Total net working capital turned negative for the first time in almost three years. The improvement was supported by higher prepayments and contract liabilities alongside strong order intake.
- Higher Net Liquidity and Strong Financial PositionNet liquidity more than doubled year over year to EUR 844 million and increased from EUR 713 million at year-end 2025. Operating cash flow covered CapEx, dividends and acquisition-related payments, leaving the company well positioned to continue its capital allocation strategy.
- ROIC Above Cost of CapitalReturn on invested capital reached 18.1% in the first nine months, recovering from the acquisition-related temporary dilution in 2025. Management said ROIC was almost 900 basis points above weighted average cost of capital.
- Service Business GrowthService revenue increased 5% in Q3 and 6% in the first nine months. Management described the Service business as being on a steady growth path and said it was helping improve profitability and stabilize the group's exposure.
- Continued Investment in Capacity and InnovationCapEx increased by EUR 36 million year over year to EUR 200 million, spent on capacity expansion including the turbo generator business, expansion of the Service business, digitalization and innovation.
- ESG Progress and External RecognitionE-impact revenue exceeded 50% for the first time in the first nine months of 2026. Andritz retained its EcoVadis gold rating for 2026 and improved its S&P Global ESG score from 53 to 61.
- Guidance and Medium-Term Targets ConfirmedThe company confirmed its 2026 revenue guidance of EUR 8.0 billion to EUR 8.3 billion and comparable EBITA margin guidance of 8.7% to 9.1%, with management comfortable with the midpoint and indicating revenue could move toward the upper end. The 2029 targets of EUR 12 billion revenue and a 10% comparable EBITA margin were also confirmed.
- Positive Near-Term Order OutlookManagement expects a good order pipeline in the fourth quarter across Hydropower, Metals and other areas and does not expect a quarter-on-quarter decline in order intake.
- Trade and Geopolitical Conditions ManagedManagement said it had not seen an adverse impact from increasing trade barriers and geopolitical turmoil in its financials, while teams were working daily to adjust to changing conditions. Foreign-exchange headwinds turned into a small tailwind in Q3.
- No Major Numerical Impact Expected From IFRS 18The company expects to begin reporting under IFRS 18 next year. Management said the conversion is underway and no major impact on reported numbers had been identified so far, although the presentation of the P&L will change.
- Signs of Investment in Packaging and ContainerboardManagement said asset closures in the packaging and containerboard market had largely come to an end and cited comparatively strong bookings for paper machines in Northern Africa and Latin America as signs of investment activity.
- Disciplined M&A ApproachManagement said it was actively evaluating several acquisition targets aligned with its strategy and remained cautious about acquisition pricing. No M&A transactions were completed in the first nine months, while EUR 42 million of M&A CapEx represented residual outflows from acquisitions closed in 2025.
IT:1ANDR Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 11, 2027 | 2026 (Q4) | 1.97- | 1.6 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 1.251.28 | 1.14 | 12.28% (+0.14) | |
| Jul 30, 2026 | 2026 (Q2) | 1.171.11 | 1.04 | 6.73% (+0.07) | |
| Apr 29, 2026 | 2026 (Q1) | 1.020.93 | 0.91 | 2.20% (+0.02) | |
| Mar 05, 2026 | 2025 (Q4) | 1.621.60 | 1.53 | 4.44% (+0.07) | |
| Oct 30, 2025 | 2025 (Q3) | 1.151.14 | 1.27 | -10.17% (-0.13) | |
| Jul 31, 2025 | 2025 (Q2) | 1.131.04 | 1.19 | -12.61% (-0.15) | |
| Apr 30, 2025 | 2025 (Q1) | 0.990.91 | 1.09 | -16.67% (-0.18) | |
| Mar 06, 2025 | 2024 (Q4) | 1.491.53 | 1.6 | -4.55% (-0.07) | |
| Oct 31, 2024 | 2024 (Q3) | 1.271.27 | 1.25 | 1.52% (+0.02) |
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
