Nexi S.p.A. Q3 2026 Earnings Recap

Nexi shares fell 3.1% after earnings, with investors likely focused on modest reported revenue growth and a softer performance in Issuing and Digital Banking Solutions despite Q3 acceleration. Management confirmed guidance, but revenue was up just 1.1% for the first nine months and EBITDA grew 0.3%.

Key Takeaways

• Net revenues rose 1.1% year over year to approximately €2.68 billion in the first nine months; Q3 growth accelerated to 1.3%, with revenue of €942 million.
• Management said underlying growth was approximately 4% both in Q3 and year to date, while Merchant Solutions more than offset softer trends in Issuing and Digital Banking Solutions.
• Nine-month EBITDA increased 0.3% to €1.4 billion, with a 52.3% margin; Q3 EBITDA rose 0.6% to €530 million, with a 56.3% margin.
• Operating expenses grew 2% year to date, below the 5%–6% increase expected in March, according to the CEO; the company said cost discipline supported EBITDA.
• Net leverage was 2.6x. Nexi confirmed its guidance and said it plans to use cash to pay down debt during 2026.