Italy's Fincantieri Q1 revenue falls 10% on lower defense segment sales

Fincantieri SpA

11/05/2026 12:36

Overview

Italy shipbuilder's Q1 revenue fell 10% yr/yr, driven by lower defense segment sales

EBITDA margin for Q1 rose to 7.4%, up nearly 1 percentage point yr/yr

Company secured EUR 3.4 bln in new orders and won first U.S. Navy contract

Outlook

Fincantieri sees 2026 revenue at EUR 9.3-9.4 bln, up from prior guidance of EUR 9.2-9.3 bln

Company expects 2026 EBITDA at EUR 700-710 mln, up from prior guidance of EUR 700 mln

Fincantieri projects 2026 net profit at EUR 140-180 mln, higher than previous guidance

Result Drivers

DEFENSE REVENUE DROP - Co said Q1 revenue fell due to lower defense segment sales, following a strong prior-year comparison tied to Indonesian Navy contracts

SEGMENT PROFITABILITY GAINS - EBITDA margin rose to 7.4%, driven by increased profitability across cruise, underwater, offshore, and specialized vessels segments

NEW ORDERS AND BACKLOG - Co secured EUR 3.4 bln in new orders and reported a record backlog, including its first U.S. Navy contract

Company press release: ID:nBIA6FT5Mc

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 2.14 bln
Q1 EBITDA Margin
7.40%
Q1 Orders
EUR 3.40 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Fincantieri SpA is €18.25, about 60.6% above its May 8 closing price of €11.37

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 29 three months ago

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.)