Holcim stock: Q3 profit lifts 2026 earnings outlook again

Holcim raised its full-year 2026 earnings outlook on October 23 after reporting stronger third-quarter results. The Swiss building materials group now expects organic growth in recurring EBIT of 10% to 12%, compared with its previous target of about 10%.

According to Holcim's Q3 2026 results release, recurring EBIT increased 16.8% in Swiss francs to CHF 976 million in the three months through September. Net sales rose 15.5% to CHF 4.662 billion, while the recurring EBIT margin widened to 20.9% from 20.7% a year earlier.

The quarterly figures exceeded forecasts collected by the company, Reuters reported on October 23. Analysts had expected recurring EBIT of CHF 949 million and sales of CHF 4.59 billion. CEO Miljan Gutovic attributed the first nine months' performance to customer demand for Holcim's high-value offering, cost discipline and operational execution, according to Reuters.

Nine-month growth supports the upgrade

For the first nine months, Holcim generated net sales of CHF 12.586 billion, up 5.2% organically. Recurring EBIT reached CHF 2.414 billion, representing organic growth of 11.8%, while the margin rose 10 basis points to 19.2%.

The company also maintained its expectation for about 5% organic sales growth in 2026 and guided to a further increase in the recurring EBIT margin. Free cash flow is expected at about CHF 2 billion. Holcim additionally targets growth of more than 20% in recycled construction and demolition materials.

Holcim said its agreement to acquire Fermacell, a European provider of walling and flooring solutions, should broaden its building systems and modular construction offering. The transaction remains subject to customary conditions and regulatory clearances and is expected to close in the first half of 2027. The company said Fermacell has projected 2026 net sales of about EUR 430 million.

Execution remains central for investors

The results point to operating leverage: nine-month organic recurring EBIT growth outpaced organic sales growth by a wide margin. That supports management's margin-expansion message, although delivery of the upgraded range still depends on demand, costs and the completion of the financial year.

The real-time quote of Holcim stock was 77.64 euros on Lang & Schwarz at 11:45 CET on Tuesday, November 3, 2026.

Holcim's next scheduled investor milestones are the full-year 2026 results on February 25 and the first-quarter 2027 trading update on April 23, according to its investor calendar.

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