Finance
Prysmian sees higher 2026 earnings after slight miss on Q4 core profit
Published by Global Banking & Finance Review®
Posted on February 26, 2026
2 min readLast updated: February 26, 2026
Quick Summary
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 forecast a higher 2026 profit on Thursday, after margin expansion in its transmission business drove 20% rise in fourth-quarter core earnings.
Quarterly adjusted earnings before interest, taxes, depreciation and amortisation rose to 622 million euros ($735 million), slightly below 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," CEO Massimo Battaini said in a press release.
J.P. Morgan analysts said in a note the fourth-quarter results were mixed, with cash flow coming in better than expected despite the core profit miss.
Prysmian forecast 2026 adjusted EBITDA in a range of 2.63 billion to 2.78 billion euros, up from 2.40 billion last year. A company-provided analysts' consensus stood at 2.73 billion euros for this year.
It sees free cash flow of 1.30 billion to 1.40 billion euros this year, ahead of the consensus of around 1.20 billion euros. Jefferies analysts said this was a "clear positive" in a generally conservative outlook.
The outlook does not include any potential effects from U.S. import tariffs, Prysmian said.
The company's large U.S. business has been benefitting from higher duties on imported copper, as it sources the metal locally and passes on higher prices to customers.
North America accounts for around 30% of Prysmian's total revenue.
($1 = 0.8462 euros)
(Reporting by Laura Contemori in Gdansk; Editing by Milla Nissi-Prussak)
Key Takeaways
- •Q4 adjusted EBITDA rose 20% to €622 million, slightly below the €635 million consensus.
- •Strong margin expansion in the transmission business was the main driver of growth.
- •2026 adjusted core profit guided to €2.63–€2.78 billion, up from €2.40 billion in 2025.
- •Company-provided analyst consensus for 2026 stands at about €2.73 billion.
- •Outlook excludes potential impacts from possible U.S. import tariffs.
Frequently Asked Questions about Prysmian sees higher 2026 earnings after slight miss on Q4 core profit
1What is the main topic?
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.
2How did Q4 results compare with expectations?
Adjusted EBITDA reached €622m versus an analyst consensus of €635m, reflecting a narrow miss despite strong transmission margins.
3What guidance did Prysmian provide for 2026?
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.
