Renishaw plc Earnings Recaps
Q4 2026
Sep 25, 2026
Renishaw reported higher FY26 revenue and profit, with margin improvement, while benefiting from favorable semiconductor-cycle demand. The shares rose 1.2% after results, a broadly neutral reaction; the company also noted lower cash conversion and plans to double production-asset CapEx in FY27.
Key takeaways
- Revenue increased 14% to £816m (17% at constant FX); adjusted operating profit rose 36% to £153m, and EPS grew 30%.
- Group operating margin improved 3 percentage points to 18.7%, exceeding 21% in the second half; management attributed the uplift mainly to operating leverage, with restructuring also contributing.
- Position Measurement revenue grew 26%, led by semiconductor optical encoders and magnetic encoders for automation and robotics; operating margin rose 5 percentage points to 27.4%.
- Specialized Technologies revenue increased 43%, driven by additive manufacturing, but its operating margin was 4.4% despite an almost 18-point increase. Industrial Metrology revenue grew 4%, with margin broadly stable at just over 17%.
- Cash conversion declined to 79% from 91%, though it remained above the 70% target. FY27 CapEx on production assets is set to double, primarily for encoders; the proposed £0.70 special dividend will reduce H1 FY27 cash flow by £51m.
Q2 2026
Feb 11, 2026
Renishaw reported a strong first half with revenue growth of 7.1%, driven by robust demand in the Americas and APAC, notwithstanding mixed market conditions and challenges in EMEA. The company anticipates continued revenue and profit growth, supported by strategic investments in emerging businesses.
Key takeaways
- Revenue growth of 7.1% reported; 11.5% at constant currency, with gains across all segments.
- Strong 15% growth in the Americas, boosted by high-value capital equipment demand and pricing adjustments.
- Operating profit increased by 11.4% to GBP 57.5 million, with a 0.6% improvement in operating margin despite currency headwinds.
- Cost reduction initiatives contributed to an 8.5% reduction in gross engineering costs, supporting margin improvement.
- Company confirmed an unchanged dividend payment of 16.8p amidst strong operational performance.