SigmaRoc (SROCF) Q2 2026 Earnings Report
SROCF Q2 2026 EPS Results
- Actual EPS
- $0.07
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $0.06
SROCF Q2 2026 Revenue Results
- Actual Revenue
- $708.05M
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +2.52%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 09/07/2026
- Time
- Before Open
- Conference Call
- Monday, September 7, 2026
SROCF Upcoming Earnings
SigmaRoc's next earnings date is estimated for March 22, 2027, 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 was strongly positive overall. Management reported double-digit EBITDA and EPS growth, higher margins, lower leverage, healthy cash conversion, continued synergy delivery, asset expansion and an attractively valued, earnings-enhancing Lithuanian acquisition. The main cautions were weak European residential construction, a 3% overall volume decline in the EBITDA bridge, geopolitical and interest-rate uncertainty, cautious margin guidance, and ongoing management of energy hedges and working capital.
Company Guidance
Management expressed confidence in the full year outlook and said the second half, which is typically a stronger half than the first, has started well ahead of last year; the board’s view is that the group is “on track for another solid performance,” while remaining cautious and preferring to “keep guidance as it stands and then revise later in the year.” The synergy program delivered EUR 5 million in H1, has reached the minimum increased from EUR 30 million to EUR 40 million, and management will aim for EUR 60 million, with EUR 15 million more to go after; for acquisitions, the guidance is “about 25% EBITDA increase on any deal,” while the Dolomitas deal is expected to complete at the end of Q3 and into Q4. Medium-term annualized CapEx guidance is “around 65-ish” excluding leases, rising by “10% plus” with Dolomitas, with “65, 70-ish” pre-leases a good number; working capital is expected to remain at 5%-10% of revenue, leverage is managed within 1.5x to 2x, and the typical tax guidance is 22%.
- Strong First-Half Earnings GrowthSigmaRoc described the first half of 2026 as a fantastic first half, with EBITDA up 11.3%, EPS up 12.2%, EBITDA margins at 25.1% and margin evolution of 200 basis points.
- Improved Leverage and ReturnsBalance-sheet leverage strengthened to 1.66 times at the end of the first half, at the bottom end of the target range of 1.5x to 2x. LTM return on invested capital was nearly 12%, up half a percent from the previous period.
- Recovery from Weather HeadwindsThe year started with weather-related headwinds, but management said these were recovered very nicely in Q2.
- Positive Regional PerformanceEvery region performed positively on most metrics, with attractive double-digit EBITDA growth figures and increases in margins. EBITDA increased in all regions, including the U.K. and Ireland.
- Industrial and Environmental Revenue GrowthIndustrial and environmental applications delivered revenue increases. Industrial performance was predominantly driven by the steel sector, while environmental revenue increased 7% year-on-year, supported by water treatment and flue gas treatment.
- Steel-Sector Demand Benefited from European MeasuresEuropean Union quotas and tariffs supported the attractiveness of indigenous European steel production, translating into more volume and better sales for SigmaRoc's industrial business.
- Return to Core Volume GrowthCore volumes increased 1% year-on-year, described as the first increase in many years. Management said volumes had decreased over recent years because of weakness in European industrial and construction markets.
- Pricing and Commercial ExecutionAlthough overall volumes were down 3% in the EBITDA bridge, pricing and other commercial actions were positive. Management said the team managed pricing very well in a difficult market.
- Synergy Program Continued to DeliverThe synergy program delivered EUR 5 million of incremental EBITDA improvement in the first half of 2026. The company has delivered at least the EUR 40 million minimum target and is working toward EUR 60 million, with EUR 15 million more to go.
- Margin Expansion Over TimeThe combined group margin increased from approximately 18% after the lime and aggregates businesses were combined to 25.3% in the current year, representing a 720 basis point improvement.
- Energy and Carbon Exposure MitigatedEnergy, fuel and carbon represented around 26%-27% of total cost of sales, but management said hedges, contractual pass-throughs, kiln-efficiency programs and biomass conversion helped protect margins. During the current Middle East crisis, margins increased by over 200 basis points.
- Lower Relative Energy and Carbon IntensityManagement said SigmaRoc's energy intensity was about 40% lower than that of other peers in its building-materials group, while its carbon intensity was over 30% lower than peers.
- Healthy Cash GenerationFree cash flow conversion including growth CapEx increased from 45% last year to 46% at the current mid-year period. Pre-growth CapEx free cash flow conversion was stated to be over 50%.
- Controlled Capital StructureLeverage declined from 1.8x at the beginning of the year to 1.66x at the end of the first half, while management said cash funding and performance were being carefully and controllably managed.
- Belgian Aggregates ExpansionA new aggregates plant in Belgium was described as on time and on budget, with 2 million tons of production capacity. Growth CapEx included a large project for an aggregates crusher in Belgium.
- Expansion of Gotland Mineral ReservesSigmaRoc added 64 million tons of high-grade mineral to its Gotland operations in Sweden through quarry extensions at Klinthagen.
- Dolomitas Acquisition in LithuaniaSigmaRoc announced the acquisition of Dolomitas, described as the largest quarry, limestone-based and dolime/dolomitic lime group in Lithuania. The business produces 3.5 million tons per year, has a 25.7% EBITDA margin, approximately EUR 70 million of 2025 turnover and, in a later description, EUR 80 million of EBITDA. The initial financial summary cited EUR 18 million of EBITDA.
- Attractive Acquisition Valuation and Earnings EnhancementThe company paid EUR 110 million for Dolomitas, equating to a 6x multiple, and described the transaction as immediately earnings enhancing before synergies.
- Dolomitas Resource Base and Strategic FitDolomitas has 25 to 30 years of existing reserves under permission and ownership, plus a further 15 to 20 years where permits are required. The business has approximately 40 limestone and dolomitic limestone products and fits SigmaRoc's existing Baltic operations.
- Potential Dolime Growth OpportunityManagement said dolime is an essential ingredient for electric arc furnace-based steel production, is scarce across Europe, and has expected volume growth of 4% per annum, above the previously indicated usual 1%, 1.5% volume growth.
- Additional Lithuanian Logistics AssetThe Dolomitas transaction also includes a large plot of land in the economic free zone of Lithuanian ports, which management said will allow the group to import and export product into the region.
- Internal M&A Execution CapabilityManagement said the Dolomitas transaction was run and managed by SigmaRoc's internal teams, with external legal and finance support, and described the process as well run and well executed.
- Expected Dolomitas SynergiesSigmaRoc stated a general ambition of achieving about a 25% EBITDA increase on any acquisition and said the Dolomitas synergy opportunity would involve operational market presence and integration into the wider structure.
- Strong Acquisition PipelineManagement said the acquisition pipeline is full and stated that another deal within the next 12 months was not in doubt, while emphasizing that the company wants to buy the best companies at the best value.
- Improved Financing Costs and Tax RateFinance costs declined following refinancing. Tax expense increased because of improved profits, while the effective tax rate was approximately 20% of profit before tax, below the usual 22% guidance because of refunds from previous years.
- ESG and Business QualitySigmaRoc highlighted its MSCI AAA rating and continued investment in emissions, safety and relationships with neighbors as part of its focus on the overall quality of the group.
- CO2-Reduction ProgramThe company said its CO2-reduction program was developing well, with biomass and multi-fuel conversion as the predominant strategy and a plan to convert all operations to multi-fuel, including biomass, over the coming years.
- Positive Second-Half Start and Full-Year OutlookManagement said the second half, typically stronger than the first, had started well ahead of last year and that the board and management were on track for another solid full-year performance, with additional benefit expected from the Dolomitas acquisition and synergies.
- Diversified and Predictable Business ModelManagement said the group serves infrastructure, industrial, environmental, construction and other sectors, making the business predictable through a cycle because different sectors evolve with their own cycles.
SROCF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 22, 2027 | 2026 (Q4) | ―- | 0.07 | ― | ― |
| Sep 07, 2026 | 2026 (Q2) | ―0.07 | 0.06 | 20.93% (+0.01) | |
| Mar 16, 2026 | 2025 (Q4) | ―0.07 | 0.02 | 183.33% (+0.04) | |
| Sep 08, 2025 | 2025 (Q2) | ―0.06 | 0.04 | 43.33% (+0.02) | |
| Mar 17, 2025 | 2024 (Q4) | ―0.02 | -0.01 | 325.00% (+0.04) | |
| Sep 09, 2024 | 2024 (Q2) | ―0.04 | 0.05 | -25.00% (-0.01) | |
| Mar 18, 2024 | 2023 (Q4) | ―-0.01 | 0.04 | -127.59% (-0.05) | |
| Sep 05, 2023 | 2023 (Q2) | ―0.05 | 0.05 | 11.11% (+0.01) | |
| Mar 27, 2023 | 2022 (Q4) | ―0.04 | -0.05 | 172.50% (+0.09) | |
| Sep 12, 2022 | 2022 (Q2) | ―0.05 | 0.03 | 50.00% (+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