Aston Martin Lagonda Global Holdings plc Q2 2026 Earnings Recap

Aston Martin’s shares fell 1.4% on the earnings day as investors digested ongoing pricing pressure in core models and cautious margin outlook despite increased Valhalla deliveries and revenue growth.

Key Takeaways

• Wholesale volumes rose 21% to 2,331 units, driven by over 220 Valhalla deliveries representing 10% of sales, up from 1% last year.
• Total revenue climbed 38% to GBP 629 million, boosted by a 17% increase in average selling price (ASP) largely from Specials.
• Core ASP declined 5% year-over-year due to dealer incentives aimed at reducing elevated aged stock, which remained a drag in H1.
• Adjusted EBIT loss narrowed by 10% to GBP 109 million, supported by a 68% gross profit increase, but offset by a 45% rise in depreciation and amortization linked to Valhalla.
• Management maintains full-year volume guidance similar to 2025 and anticipates improving gross margins in H2 as aged stock normalizes.