Schaeffler AG Earnings Recaps
Q3 2026
Nov 7, 2026
Schaeffler shares fell 5.0% after earnings, with investors likely focused on the structural weakness in European automotive markets and the slow E-mobility ramp-up that prompted a new, large restructuring program. The company confirmed 2026 guidance, but the planned €480 million in restructuring costs and implementation extending mainly through 2028 underscore the pressure on its business.
Key takeaways
- Q3 EBIT margin was 4.2%; the nine-month margin was 4.5%. Management described Q3 free cash flow as strong but gave no figure in the transcript.
- Schaeffler confirmed its 2026 guidance despite continued weakness in automotive OEM markets in China and a downturn in Europe.
- The new program targets a net reduction of 3,460 employees across 16 locations, with implementation intended mainly by 2028; four German sites are to close.
- The company expects €300 million in sustainable annual earnings improvement from 2030, against one-off restructuring costs of about €480 million.
- Management cited slower-than-expected E-mobility growth and high German personnel costs as reasons for the cuts, including reductions to R&D capacity and management layers.