Renishaw reaffirms outlook on bumper third quarter
6th May 2026 11:16
(Sharecast News) - Renishaw reaffirmed full-year guidance on Wednesday despite mounting geopolitical headwinds, following a surge in third-quarter revenues.
Updating on trading, the FTSE 250 firm - a specialist in measuring and manufacturing systems - said revenues in the three months to 31 March had spiked 14% to a record £206m. In the year so far, revenues were 9.5% higher, or 13.5% on a constant currency basis, at £571.6m.
"We have built momentum through the year to date, with significant contributions from our emerging products, delivering revenue growth in each segment and each region, as well as a substantial further expansion of our order book," Renishaw noted, confirming guidance for the full year.
Revenues are slated to come in between £775m and £805m and adjusted pre-tax profits between £145m and £165m.
Renishaw acknowledged that it was continuing to monitor both the conflict in the Middle East - which was impacting global logistics costs - and US tariffs. It also flagged "tight" supply chains for certain semiconductors and critical materials, but said that while lead times may be impacted in the short term, it was not expected to have a "material" impact on operations in the current year.
Renishaw concluded: "We expect positive market conditions to continue for the remainder of the 2026 full year, with ongoing strong demand across specific sectors and product lines offsetting more subdued conditions in general industrial markets."
As at 1115 BST, the shares were trading up 3% at 4,982p.
Jefferies, which has a 'hold' rating on the stock, said: "The key question for this morning's release is, what does the guidance imply about fourth-quarter growth rates? At the bottom end of revenue guidance, the implied growth rate is 7% while at the top end, it is 22%. With Renishaw delivering positive commentary around order intake across all three divisions, an acceleration in revenue growth is certainly plausible."
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