Amrize Raises EPS 4.1% to $1.02 in Third Quarter

Key Facts

Amrize reported diluted earnings per share of $1.02 in the third quarter of 2026, up 4.1% from $0.98 in the year-earlier period. Adjusted diluted EPS was unchanged at $1.05 in both periods, putting reported earnings growth alongside a flat adjusted measure. Revenue rose 2.2% to $3.771 billion, and net income increased 3.3% to $558 million. By contrast, adjusted EBITDA rose just 0.2% to $1.076 billion. Chief Executive Jan Jenisch said the company increased revenue “through strong pricing and contributions from our recent acquisitions, even as weather patterns affected construction activity during the quarter.”

The company attributed revenue growth mainly to price increases, which added $78 million; acquisition contributions of $77 million; and fuel, energy and freight surcharges, which added $23 million. These factors were offset by lower volumes, foreign-exchange movements and other revenue. This reflects the quarter’s reliance on pricing, acquisitions and surcharges to drive sales growth, as management said weather affected construction. The adjusted EBITDA margin fell to 28.5% from 29.1% a year earlier, a decline of 60 basis points. Adjusted earnings growth therefore remained limited despite increases in revenue and net income.

For the nine months ended September 30, revenue was $9.445 billion, up 5% from the year-earlier period in 2025, while net income rose 7.5% to $927 million. The “Aspera” program generated savings of $73 million in the first nine months, and the company said it was on track to deliver savings of $80 million in 2026. Amrize invested $262 million in capital expenditures in the third quarter to expand production and improve efficiency. The company linked these investments to expanding production and improving efficiency to serve customers, while the savings are intended to support operating performance. Inflation and high interest rates nevertheless remained among the pressures the company cited when updating its outlook.

Amrize updated its fiscal 2026 outlook to revenue of $12.2 billion to $12.4 billion and adjusted EBITDA of $2.95 billion to $3.05 billion. The midpoint of the revenue range is $12.3 billion, below analysts’ consensus of $12.507 billion, according to an Investing.com report published on October 29. The report said the stock fell 6.9% after the results and guidance. Forecasts published before the results had pointed to earnings of $1.03 per share and revenue of $3.83 billion for the third quarter; second-quarter earnings were also reported at $0.88 per share and revenue of $3.5 billion. In August, the company had lowered its full-year adjusted earnings outlook to a range of $3.1 billion to $3.2 billion, after pressure from freight, diesel and raw-material costs.

The company’s 2026 assumptions include capital expenditures of about $900 million, net interest expense of about $340 million and an adjusted effective tax rate of 23% to 25%. Amrize returned $1.1 billion to shareholders through share repurchases and dividends during the first three quarters of the year. On October 28, it completed a $1 billion share repurchase program, which it said represented about 4% of its capital. The board also declared a quarterly dividend of $0.11 per share, payable on November 18, 2026. The company scheduled a live webcast to discuss the results for October 29 at 7:30 a.m. U.S. Central Time, with a replay and transcript to be made available later through its investor relations website.