Befesa Q3 revenue up on higher zinc prices and improved secondary aluminium margins
Overview
Hazardous waste recycler's Q3 2026 revenue rose 7% yr/yr
Q3 2026 adjusted EBITDA grew 10% yr/yr
Outlook
Befesa narrows FY 2026 adj EBITDA guidance to €260m–€270m, excluding Critical Minerals US grant
Critical Minerals US grant expected to lift FY 2026 adj EBITDA to €286m–€296m
Company expects Q4 earnings momentum from higher volumes and aluminium recovery, partly offset by inflation
Result Drivers
ZINC PRICES & ALUMINIUM RECOVERY - Higher zinc prices and improved secondary aluminium margins drove Q3 results, offsetting lower volumes and cost pressures
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | EUR 311.6 mln | EUR 309 mln (2 Analysts) |
Q3 EPS | EUR 0.58 | ||
Q3 Net Income | EUR 23 mln | ||
Q3 Adjusted EBITDA | Beat | EUR 67.80 mln | EUR 63 mln (1 Analyst) |
Q3 Operating Cash Flow | EUR 57.3 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the environmental services & equipment peer group is "buy"
Wall Street's median 12-month price target for Befesa SA is €44.00, about 32.3% above its October 27 closing price of €33.25
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)