Overview
UK facilities management firm's Q3 FY26 revenue rose 10% yr/yr to £1,447m
Company generated £74m free cash flow Q3 YTD
Company repurchased 48m shares for £71m YTD
Outlook
Mitie expects double-digit revenue growth to continue in Q4 FY26
Company on track to deliver FY26 revenue of c.£5.7 bln and operating profit of at least £260 mln
Mitie secures $656 mln contract for US Navy FM services in Q4
Result Drivers
ORGANIC AND INORGANIC GROWTH - Revenue growth driven by 4% organic growth and 6% from acquisitions, including Marlowe
MARLOWE INTEGRATION - Integration of Marlowe progressing with synergies and cross-sell opportunities contributing to growth
CONTRACT WINS - Significant contract wins and renewals supported revenue growth
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
GBP 1.45 bln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for Mitie Group PLC is GBp195.00, about 14.3% above its January 26 closing price of GBp170.60
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nRSa4334Qa
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(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.)
