Key Takeaways:
- Renishaw guided FY adjusted PBT to £167M, above Peel Hunt's £153M estimate.
- Q4 revenue hit £243M, up 27% YoY, driven by semiconductor and electronics demand.
- Shares surged 8.1% to 5,347p after the profit forecast beat.
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Renishaw jumps 8.1% as profit forecast beats analyst estimates
Renishaw PLC said full-year adjusted profit before tax will reach £167 million, beating analyst estimates, after a record fourth quarter.
"All three segments delivered growth, with particularly strong progress for Specialised Technologies and Position Measurement," the company said in a brief trading update.
Q4 revenue reached approximately £243 million, up 27% from a year earlier and 18% above the third quarter. Full-year revenue of about £815 million rose 14%, exceeding the company's April guidance range of £775 million to £805 million. Adjusted operating profit came in at £152 million. House broker Peel Hunt said the final outturn exceeded its estimates of £153 million in adjusted PBT and £790 million in revenue.
The guidance raise confirms management expects semiconductor and electronics demand to sustain its momentum. Investors will watch the full-year results in September for updated segment margins and forward guidance.
Demand was particularly strong from customers in the semiconductor and electronics manufacturing equipment sector, as well as the aerospace and defense industry, the company said. All three business segments delivered growth, with Specialised Technologies and Position Measurement showing the strongest progress.
Second-half revenue of £449 million compared with £366 million in the first half. Organic growth accelerated through the year, with rates of 11.8% in the first half, 16.9% in the third quarter and 27% in the fourth quarter.
Peel Hunt analysts said they have raised their forecasts for the year to June 2027 to £186 million of adjusted PBT and £207 million for the following year. "In essence, Renishaw has jumped a year ahead of our estimates," they said. "In our view, the acceleration through the current year and therefore the exit rate is the feature."
The company did not disclose earnings per share or provide detailed divisional breakdowns, which will accompany the full-year results in September.
The guidance raise confirms that Renishaw is benefiting from a cyclical upturn in precision manufacturing demand, particularly from semiconductor capital equipment makers. The September full-year results will provide investors with a clearer view of whether this momentum can sustain into fiscal 2027.
This article is for informational purposes only and does not constitute investment advice.
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