Schaeffler stock in focus after nine-month margin rises

Schaeffler reported solid but mixed results for the first nine months of 2026 on Tuesday, November 3. In the EQS release published by Deutsche Boerse, the company said revenue reached 17.481 billion euros, down 1.1 percent from the prior-year period. At constant currency, revenue was nearly unchanged.

EBIT before special items rose 6.5 percent to 794 million euros, lifting the adjusted margin to 4.5 percent from 4.2 percent a year earlier. The result was supported by the diversified business structure, stronger profitability in Bearings & Industrial Solutions and continued growth in selected activities.

China weakness weighs on divisions

Greater China revenue fell 7.9 percent at constant currency. Powertrain & Chassis revenue declined 4.6 percent on the same basis, reflecting portfolio streamlining and the weaker market for internal-combustion-engine technology. Vehicle Lifetime Solutions increased revenue by 1.8 percent, while E-Mobility revenue grew 4.6 percent at constant currency.

E-Mobility remained loss-making before special items, with a nine-month margin of minus 14.8 percent. Schaeffler recognized approximately 240 million euros of one-off impairments and provisions related mainly to surplus production equipment; 220 million euros was recognized in the third quarter.

Cash flow improves in the third quarter

Free cash flow before cash flows from mergers and acquisitions was negative 40 million euros after positive 47 million euros a year earlier. The third quarter itself produced 260 million euros, compared with 175 million euros in the prior-year quarter. Net income attributable to shareholders turned positive at 11 million euros, although 201 million euros of special items weighed on the result.

Management reconfirmed 2026 group revenue guidance of 22.5 billion to 24.5 billion euros, an adjusted EBIT margin of 3.5 percent to 5.5 percent and free cash flow of 100 million to 300 million euros. The company also maintained its 2028 targets. For investors, the key test is whether fourth-quarter cash generation can offset the negative year-to-date figure while E-Mobility and China remain pressure points.

Schaeffler stock traded at 5.89 euros on Lang & Schwarz at 1:32 p.m. CET on Tuesday, November 3, 2026. Investors can follow the real-time quote of Schaeffler stock.

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