Key Takeaways:
- Vestas Q2 profit jumped to €280 million from €32 million a year earlier.
- Adjusted EBIT margin rose to 9.4% from 1.5%, beating the €0.15 EPS estimate.
- FY2026 EBIT margin guidance raised to 7%-9% from 6%-8%; new €400 million buyback.
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Vestas shares jump 18% after Q2 profit beats, margin outlook raised
Vestas Wind Systems reported Q2 profit of €280 million, up from €32 million a year earlier, and raised its full-year margin outlook.
The improvement was driven by gains across both onshore and offshore segments, the Danish turbine maker said in its earnings statement Wednesday.
Revenue rose 26.1 percent to €4.723 billion from €3.745 billion, helped by strong growth in Power Solutions. Adjusted EBIT climbed to €446 million from €57 million, lifting the adjusted EBIT margin to 9.4 percent from 1.5 percent. Earnings per share came in at €0.28, above the €0.15 consensus estimate.
Firm and unconditional wind turbine orders totaled 3,349 megawatts in the quarter, up 67 percent from a year earlier, while the order backlog stood at €36 billion as of June 30.
Shares jumped 18.14 percent to 209.10 kroner in Copenhagen. Vestas now expects a fiscal 2026 EBIT margin before special items of 7 percent to 9 percent, up from a prior range of 6 percent to 8 percent, citing quarterly results and improved visibility for the rest of the year. It maintained revenue guidance of €20 billion to €22 billion and total investments of about €1.2 billion.
The company also announced a share buyback of up to 3 billion kroner, or about €400 million, running from Aug. 13 to no later than Dec. 16. The program covers no more than 34 million shares, or 3.4 percent of share capital, with Danske Bank acting as lead manager.
The result contrasts with a wind sector that has wrestled with cost inflation and project delays. Rival Siemens Gamesa moved back into profit in its fiscal third quarter, while GE Vernova and Nordex have leaned on service revenue to cushion turbine pricing pressure. Vestas' order intake growth in both EMEA and the Americas suggests demand is firming as developers resume projects.
The margin upgrade reflects management's expectation that pricing and cost discipline will hold through the year, a positive for a wind sector that has contended with supply-chain inflation and project delays. Investors will watch the service segment, where Vestas still targets an EBIT margin of 15.5 percent to 17.5 percent, for confirmation in coming quarters.
This article is for informational purposes only and does not constitute investment advice.
