EarningsQ2 2026 Earnings Report
MX:VWSN Q2 2026 EPS Results
Actual EPS$6.08
Consensus EPS$3.06
Beat/MissBeat by +$3.02
One Year Ago EPS$0.61
MX:VWSN Q2 2026 Revenue Results
Actual Revenue$95.72B
Expected Revenue$92.33B
Beat/MissBeat by +$3.39B
YoY Revenue Growth+26.31%
Earnings Announcement Details
QuarterQ2 2026
Date08/12/2026
TimeBefore Open
Conference CallWednesday, August 12, 2026
MX:VWSN Upcoming Earnings
Vestas Wind Systems's next earnings date is estimated for November 11, 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 clearly positive operational and financial quarter: revenue, EPS, cash flow and order intake grew strongly and management raised full‑year EBIT margin guidance. Key strategic levers — offshore ramp‑up, Service recovery and cost discipline — are progressing and supported by a sizable backlog and a EUR 400 million buyback. Lowlights include ongoing Service revenue pressure, warranty and safety issues, a recent blade incident, and lingering external risks (permitting, tariffs, lumpy offshore orders). Overall the positive developments materially outweigh the challenges.Company Guidance
Strong Revenue Growth
Revenue of EUR 4.7 billion in Q2 2026, up 26% year‑on‑year, driven primarily by Power Solutions.
Power Solutions Momentum
Power Solutions revenue increased 37% year‑on‑year; ASP on new orders ~EUR 1.0 million per MW; Power Solutions order backlog stood at EUR 36 billion.
Material Improvement in Profitability
EBIT margin before special items improved to 9.4% (up ~8 percentage points YoY). Power Solutions EBIT margin was 10.4% in Q2, up >10 percentage points YoY.
EPS and Cash Generation
Earnings per share of EUR 1.1, up 46% year‑on‑year. Operating cash flow of EUR 419 million in the quarter and adjusted free cash flow of EUR 94 million (both improvements versus prior year).
Order Intake Surge
Order intake of 3.3 GW in the quarter, up 67% year‑on‑year, with strong commercial traction in EMEA and the Americas.
Service Backlog and Fleet Scale
Service order backlog of EUR 40.9 billion (up ~EUR 5 billion YoY including EUR 1.3 billion uplift from indexation); 166 GW under active service contracts (+2 GW QoQ). Service EBIT EUR 149 million with a 16.6% margin.
Offshore Operational Progress
Offshore ramp‑up showing reduced takt times, improved manufacturing efficiency and shorter installation times; management expects offshore to move into positive results next year (2027).
Capital Return and Strong Capital Structure
New EUR 400 million share buyback announced (starting 13 August); net debt/EBITDA at 0x within target range (-1 to +1); Moody's investment‑grade rating maintained with stable outlook.
Guidance Raised
FY2026 EBIT margin guidance raised to 7%–9% (from 6%–8%); revenue guidance maintained at EUR 20–22 billion; Service EBIT margin guidance maintained at 15.5%–17.5%.
Sustainability Impact
Turbines produced and shipped in last 12 months expected to avoid ~535 million tonnes of CO2 over lifetime — one of the highest quarterly figures reported.
MX:VWSN 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