Skip to main content

Go Premium in Our Biggest Sale Ever

UPGRADE NOW
TipRanks
Go Ultimate75% OFF

Perimeter Solutions (PRM) Q3 2026 Earnings Report

4 Followers

MX:PRM Q3 2026 EPS Results

Actual EPS
MXN 15.81
Consensus EPS
MXN 17.78
Beat/Miss
Missed by -MXN 1.97
One Year Ago EPS
MXN 15.25

MX:PRM Q3 2026 Revenue Results

Actual Revenue
MXN 7.25B
Expected Revenue
MXN 7.09B
Beat/Miss
Beat by +MXN 156.44M
YoY Revenue Growth
+23.59%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/05/2026
Time
Before Open
Conference Call
Thursday, November 5, 2026
MX:PRM Upcoming Earnings

Perimeter Solutions's next earnings date is estimated for March 3, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

MX:PRM Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 05, 2026|% Change Since:15.12%|
Earnings Call Sentiment|Positive

The call was broadly positive. Adjusted EBITDA, net income, free cash flow, Fire Safety, and Specialty Products all showed strong performance, while leverage declined to 2.7x and liquidity increased to approximately $316 million. The main challenges were the 24% quarterly net sales decline, PDI's supply reliability problem and related near-term costs, seasonal wildfire variability, higher working capital investment, and air tanker capacity constraints. Management expressed confidence in the long-term outlook and continued investment plan.

Company Guidance

Management said long-term cash flow assumptions are unchanged, with annual cash interest expense of approximately $75 million, tax deductible depreciation and amortization of $60 million-$65 million annually, a cash tax rate of approximately 20% or better over time, annual capital expenditures of $30 million-$40 million, and working capital of approximately 10%-15% of revenue growth over time; in 2026, capital expenditures are expected to be at the high end of that range and working capital investment is expected to be more than that. Specialty Products' fourth quarter adjusted EBITDA is expected to be only modestly below its average quarterly results so far this year, and extra inventory is expected to be worked through by the second quarter of next year.

  • Adjusted EBITDA GrowthThird quarter adjusted EBITDA increased 20% year over year to $223.5 million, while year-to-date adjusted EBITDA increased 25% to $370.3 million.
  • Improved Net Income and Adjusted EPSThird quarter net income was $304.5 million, or $1.74 per diluted share, compared with a net loss of $90.7 million, or $0.62 per diluted share, in the prior-year quarter. Adjusted net income increased to $144.3 million from $125.5 million, and adjusted diluted EPS rose to $0.85 from $0.82. Year-to-date adjusted net income increased to $212.9 million from $186.8 million, while adjusted diluted EPS rose to $1.27 from $1.24.
  • Strong Year-to-Date Revenue GrowthYear-to-date net sales rose 32% to $728.7 million, compared with the prior-year period.
  • Fire Safety Segment GrowthFire Safety revenue increased 14% to $312.5 million in the third quarter, and adjusted EBITDA increased 14% to $201.6 million from $177.2 million. Year-to-date revenue rose 13% to $487.1 million, while adjusted EBITDA increased 13% to $299.1 million from $265 million.
  • Fire Safety Performance Across Product Lines and GeographiesManagement said Fire Safety had a strong quarter across all product lines and most geographies. International retardant performance was strong, led by Europe and Australia; North America retardant revenue grew; and the suppressants business benefited from stronger foam sales outside North America and resumed Defense Logistics Agency deliveries.
  • Federal Retardant Contract ExecutionThe company completed its first full season under the five-year federal retardant contract, which management said boosts service levels and reliability while lowering costs for the customer. The company staffed and supplied air tanker bases during the most active weeks, converted additional federal bases to its full-service model, and invested in air base upgrades to support faster and more reliable reloading.
  • Reduced Exposure to Fire ActivityAs contracts have been renewed, the company has shifted sales toward fixed service fees and away from revenue tied to volume. Management said the full-service bases provide steady recurring service revenue and make earnings more stable from one season to the next.
  • Long-Term Wildfire Market OpportunitiesManagement cited rising fire activity, growing aerial firefighting fleets, and customer investment in new aircraft and air base infrastructure as longer-term drivers. It also said states are increasingly building their own aerial and wildland firefighting programs and that the company is continuing to expand its individual state contracts.
  • Specialty Products Segment ExpansionSpecialty Products revenue increased 84% to $77.3 million in the third quarter, while adjusted EBITDA rose to $21.9 million from $9.1 million. Year-to-date revenue increased 103% to $241.7 million, and adjusted EBITDA rose to $71.2 million from $30.8 million.
  • MMT and IMS ContributionManagement said MMT and IMS continue to benefit from proprietary products, large installed bases, and recurring aftermarket demand. MMT is investing in its innovation pipeline and new product launches while serving its installed base with consumables, spare parts, and services. IMS is integrating acquired product lines and evaluating additional product lines that fit its strategy.
  • Successful MMT Integration and Product DevelopmentManagement said MMT integration is going very well and that the business is performing largely as expected. The company has reinvigorated new product development with the goal of increasing the size and growth rate of its installed base and related aftermarket revenue stream.
  • Monaco Acquisition Quality and Installed BaseSince joining the company at the end of July, Monaco has performed directionally better than expected, according to management. Its systems protect people and mission-critical assets at more than 200 U.S. military installations globally, and nearly all sales support its large installed base through spare parts, repairs, expansions, upgrades, and service.
  • Defense Logistics Agency Contract WinSolberg earned a five-year Defense Logistics Agency contract announced earlier in the year with a maximum value of $500 million. The company attributed the award to products developed for the agency's requirements, expanded capacity and redundancy at its Green Bay, Wisconsin facility, and a vendor-managed inventory service.
  • Solberg Fluorine-Free Foam LeadershipSolberg invested in fluorine-free products and the technical and service support required for customer conversions from fluorinated foams. Management said Solberg progressed from a challenger in fluorinated foams to a global leader in fluorine-free foams.
  • Strong Free Cash Flow and LiquidityThird-quarter free cash flow was $150.4 million. At quarter end, the company had approximately $116 million of cash and approximately $316 million of total liquidity.
  • Improved Leverage and Debt PositionNet debt was approximately 2.7x LTM adjusted EBITDA at quarter end, down from 3.1x at the end of the second quarter, even after funding the Monaco acquisition. The company fully repaid the revolver borrowings used for Monaco, leaving its $200 million revolving credit facility undrawn at quarter end.
  • Capital Deployment and ReinvestmentYear to date, the company deployed approximately $830 million of capital, including approximately $682 million for MMT, approximately $117 million for Monaco, and $31.2 million in capital expenditures. Investments include new retardant bases and air base infrastructure, the Texas air base, expansion of the Green Bay facility, additional DLA staffing, dependable PDI supply sources, and investments in Monaco's service, capacity, and innovation.
  • Decentralized Operating Model and RebrandingPerimeter Solutions formally became Perimeter Group and moved its headquarters to Charlotte, North Carolina, while retaining the PRM ticker. The company now operates six businesses across Fire Safety and Specialty Products, each with its own brand, president, and management team, supported by a small corporate team and aligned performance incentives.
  • Long-Term Financial Framework MaintainedManagement maintained its long-term cash flow assumptions, including approximately $75 million of annual cash interest expense, $60 million-$65 million of annual tax-deductible depreciation and amortization, a cash tax rate of approximately 20% or better over time, annual capital expenditures of $30 million-$40 million, and working capital investment of approximately 10%-15% of revenue growth over time.

MX:PRM Earnings History

MX:PRM earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 03, 20272026 (Q4)2.85-2.42――
Nov 05, 20262026 (Q3)17.7815.8115.253.66% (+0.56)
Jul 31, 20262026 (Q2)8.056.517.25-10.26% (-0.74)
May 06, 20262026 (Q1)0.351.120.56100.00% (+0.56)
Feb 26, 20262025 (Q4)1.992.422.420.00% (+0.00)
Oct 30, 20252025 (Q3)12.5715.2512.4222.75% (+2.83)
Aug 07, 20252025 (Q2)4.897.252.99142.24% (+4.26)
May 08, 20252025 (Q1)0.260.56-1.49137.50% (+2.05)
Feb 20, 20252024 (Q4)-1.102.42-1.53258.54% (+3.94)
Nov 12, 20242024 (Q3)11.7012.422.23456.67% (+10.19)

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.

Beat Missed