Metso Corporation (1K) | Hold | Q2: Solid minerals, mixed aggregates

研报英文原文证据摘录

Metso Corporation (1K) | Hold | Q2: Solid minerals, mixed aggregates

#EarningsPreview #Negative #TPchange

Release date: 10 July 2026

Company research

ESG profile HoldMetso Corporation

Finland | Capital goods Beta Profile: MCap: EUR12.5bn

Target Price: EUR16.50 (17.50) Change in TP: -5.7 % Bloomberg: METSO FH Reuters: METSO.HE

Current Price: EUR15.10 Change in Sales: -1.4% 26E/-1.4% 27E Free float 83%

Up/downside: 9.3% Change in Adj EBIT: -2.5% 26E/-2.3% 27E Avg. daily volume (EURm) 47.3

YTD abs performance 0.8% Market data: 09 July 2026 Change in Adj. EPS: -2.4% 26E/-2.1% 27E

52-week high/low (EUR) 17.88/10.78

Q2: Solid minerals, mixed aggregates Price performance

Why this report?

Ahead of Metso Corporation's Q2 results, we revise down slightly our FY 2026

and 2027 revenue and profit expectations. Our updated estimates reflect an

H2 weighting to the results. With this report we present our Q2 2026

forecasts. To reflect lower estimates and a marginal shift in risk profile we

lower the 12-month forward price target to EUR16.5, reiterating the HOLD.

For the core Minerals division, we expect confirmation of good end-market

demand trends, supporting small/mid-sized orders and confirmation of an H2

profit bias. Aggregates commentary may be incrementally more cautious due

to customer hesitation in Europe and N. America. Our H1 revenue and profit

estimates are 5% and 8% below the Visible Alpha consensus, making us

cautious into July 24th H1 results.

FY to 31/12 (EUR) 12/26E 12/27E 12/28E

Key findings Sales 5,561 5,937 6,271

We expect management to reconfirm a positive mid-term outlook for demand in EBITDA adj. 1,041 1,162 1,271

Minerals, with the expectation of large order acceleration into 2027, based on our EBIT adj. 856 973 1,080

Net profit adj.