Atos SE Q3 2026 Earnings Recap

Atos shares rose 4.5% after Q3, as revenue decline narrowed to 2.4% and management confirmed its full-year target. The improvement is tempered by a 62% book-to-bill ratio and continuing revenue contraction.

Key Takeaways

• Revenue was €1.642 billion, down 2.4% at current perimeter; management said the decline eased from 11% in Q1 and roughly 6% in Q2.
• Order entry was €1 billion, with a 62% book-to-bill ratio. Atos attributed the low level partly to no large managed-services renewals in Q3 and expects book-to-bill above 100% in Q4.
• Net change in cash was positive €44 million, while reported liquidity was €966 million; management expects year-end cash of €1.3 billion to €1.4 billion.
• Genesis savings are expected to reach close to €800 million by year-end, above the stated target; billability was close to 84%, with 85% targeted in the first half of 2027.
• Management confirmed its full-year target and forecast Q4 revenue between flat and down 2%.