WASHINGTON (dpa-AFX) - Vestas Wind Systems A/S (VWDRY.PK, VWS.CO) reported Wednesday higher earnings in its third quarter, driven by revenue growth, while orders were lower than last year. Further, the Danish wind turbines maker narrowed fiscal 2026 outlook.
In the third quarter, profit grew to €323 million from €304 million in the prior-year period. The wind turbine manufacturer posted earnings per share of €1.13, higher than €0.93 a year ago.
Operating profit or EBIT increased to €453 million compared with €414 million in the third quarter of 2025. Adjusted EBIT reached €483 million versus €416 million last year, resulting in an EBIT margin before special items of 8.5 percent, compared to 7.8 percent a year ago. The improvement was driven by better profitability in Power Solutions and operating leverage.
EBITDA expanded to €776 million from prior year's €671 million, while adjusted EBITDA rose to €806 million from €673 million a year ago.
Revenue increased 6 percent to €5.677 billion from €5.339 billion last year, driven by growth in Offshore and Service segments.
Vestas reported order intake of €4.1 billion, down from last year's €4.6 billion. The combined order backlog was €77.9 billion. Order intake in megawatts reached 3,377 MW compared with 4,606 MW a year ago, driven by commercial traction in EMEA and Asia-Pacific at higher average selling prices.
The company's ongoing share buyback of €400 million, initiated in August, continues until mid-December.
Looking ahead, Vestas narrowed its full-year 2026 outlook, now expecting revenue to range between €20.5 billion and €21.5 billion, compared to the previous guidance of €20 billion to €22 billion.
The EBIT margin before special items is now expected between 7.5 percent-8.5 percent, narrowed from the prior range of 7 percent-9 percent.
Total investments are expected to amount to approximately €1.0 billion, compared with the previous guidance of approximately €1.2 billion.
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