Wartsila Oyj Abp Q3 2026 Earnings Recap

Wärtsilä shares fell 7.5% after earnings, despite higher orders and improving comparable profitability. The transcript points to a potential concern in services: service sales were flat overall and service order intake growth of 11% lagged equipment’s 53%, while fuel prices and delayed maintenance weighed on some service activity.

Key Takeaways

• Group order intake rose 33% to EUR 2.4bn; the order book reached a record EUR 9.9bn, with energy driving much of the increase.
• Comparable operating result increased 19% to EUR 212m, and the comparable margin improved to 14.2% from 12.8%.
• Net sales grew 7% to EUR 1.5bn. Equipment sales rose 19%, while service sales were flat overall and down 2% as reported.
• Service order intake increased 11% to EUR 950m; management said higher fuel prices reduced short-term service spending in some segments and higher shipping rates led to postponed service activities.
• Operating cash flow was EUR 583m.