Published by Global Banking & Finance Review®
Posted on February 26, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on Google
Prysmian reported a 20% rise in Q4 adjusted EBITDA to €622m, narrowly missing estimates, as transmission margins improved. The group guided 2026 adjusted core profit to €2.63–€2.78bn, excluding any U.S. tariff effects.
By Laura Contemori
Feb 26 (Reuters) - Italian cable maker Prysmian on Thursday forecast higher earnings and cash flow for 2026, excluding a potential boost from U.S. trade measures, after its core profit missed market expectations in the fourth quarter.
The company has been among the winners of the U.S. tariff regime, as its large U.S. business benefitted from higher duties on imported copper. Unlike its more import-reliant rivals, Prysmian sources the metal locally.
Talking to reporters after the earnings report, CEO Massimo Battaini said higher U.S. import duties would continue to add costs for cables imported from countries such as China, Korea and others.
This means importers will have to raise prices to protect their profits, affecting their competitiveness and allowing Prysmian to gain market share over time, he added.
North America accounts for around 40% of Prysmian's total revenue, and the group manufactures extensively in the United States.
The company forecast adjusted earnings before interest, taxes, depreciation and amortisation of between 2.63 billion euros and 2.78 billion euros ($3.10 billion and $3.28 billion) for 2026, up from 2.40 billion last year.
A company-provided analysts' consensus for 2026 stood at 2.73 billion euros.
It sees free cash flow of 1.30-1.40 billion euros this year, while analysts had estimated it at around 1.20 billion euros. Jefferies analysts said this was a "clear positive" in a generally conservative outlook.
Quarterly adjusted EBITDA grew 20% to 622 million euros, driven by margin expansion in the transmission business, but missed analysts' average estimate of 635 million euros.
"Building on this, the leadership position of our Transmission business will be further enhanced thanks to the agreements to acquire Xtera and ACSM," Battaini said in a press release.
He told reporters Prysmian was ready for mid-sized and large acquisitions, with larger deals more likely from 2027. During an analyst call, he added North America, Latin America and Europe remained the priority regions for expansion.
Shares of the company were 1.7% lower at 1000 GMT, after a steeper fall in early trading.
($1 = 0.8475 euros)
(Reporting by Laura Contemori in Gdansk; Editing by Milla Nissi-Prussak)
Prysmian’s fourth-quarter results and outlook. The company posted a 20% rise in adjusted EBITDA to €622m and guided 2026 adjusted core profit to €2.63–€2.78bn.
Adjusted EBITDA reached €622m versus an analyst consensus of €635m, reflecting a narrow miss despite strong transmission margins.
Prysmian expects 2026 adjusted core profit of €2.63–€2.78bn, with company-provided consensus around €2.73bn; the outlook excludes potential U.S. import tariff impacts.
Explore more articles in the Finance category
