Nov 5 2026
Industrials
Recent Research
Weir Group plc, Q3 trading statement
Nov 4 2026
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Buzzi Spa
FY26 guidance reiterated
Buzzi’s Q3 update points to mixed trading across key markets, with underlying revenue broadly stable. Management has maintained FY26 EBITDA guidance at €1.1-1.2bn, in line with consensus...
Vistry Group
Average daily net debt to be higher in H2 than targeted
Average daily net debt is now expected to be £800m in H2 — this is £50m incrementally negative to what was previously guided. Current open market conditions remain difficult. The...
Howden Joinery
Solid update with full year expectations unchanged
Howdens remains on track to meet underlying pre-tax profit consensus expectations for this year. This is encouraging and a further example of the resilience of its best-in-class...
Barratt Redrow plc
FY27 guidance held; bulk sales helping reservation rate
Barratt Redrow reported its total reservation rate was up 3.5% year-on-year (yoy) in the period June 29th 2026 to October 25th 2026. This was helped by bulk sales. Excluding bulk...
Heidelberg Materials
Solid Q3; FY26 guidance reiterated
With Q3 results c.3% ahead of expectations, Heidelberg Materials has comfortably reiterated FY26 guidance. It also announced an additional €300m cost programme for FY27/28.
Vistry Group
Data show no private sales rate recovery; moving to ‘Underperform’
Data gleaned from Vistry Group’s public-facing websites indicate that its net private reservation rate has not improved since the summer low of 0.3 and that incentive use has stayed...
Kingspan Group
Kings-pan America
Ahead of Kingspan’s Capital Markets Day in the US on November 10th, we examine three particularly compelling growth themes for the group in the country: further penetration gains by...
Ibstock plc
Weak Q3 prompts material reduction in full year expectations
Ibstock is having to deal with multiple negative variables that are weighing heavily on the group’s performance: soft demand from a weak UK housing market, notably the new build...
CRH
New $6bn share buyback and Velocity initiative launched
While CRH’s Q3 results are slightly ahead of our expectations, FY26 guidance has been lowered, with the new midpoint broadly in line with our current expectations. The company has...
Saint-Gobain Group
Q3 revenues boosted by selling price actions
Saint-Gobain announced a solid Q3 sales result in what remain testing operating conditions. Once again, the group made good progress in construction chemicals and in Asia, while a...
