Prysmian performs well following its quarterly results and an upward revision of its guidance; brokers are optimistic
CEO Battaini said that the group had not observed any slowdown in its data centres and that ‘artificial intelligence is advancing faster than expected’
Eleonora Micheli
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(Il Sole 24 Ore Radiocor) - Prysmian shares are up on the Milan Stock Exchange following the publication of its third-quarter 2026 results – a performance to be proud of.
The group closed the third quarter of 2026 with a record adjusted EBITDA of 851 million euros, up sharply by +32.1 per cent year-on-year and well above the 793 million forecast by the consensus. Quarterly revenue stood at €6.41 billion (compared with €5.03 billion in the same period last year and against expectations of €5.92 billion), marking organic growth of 13.1 per cent. In light of the results for the first nine months and the consolidation of the Atkore acquisition (expected in the last two months of the year), Prysmian has revised its guidance for the full year 2026 upwards: adjusted EBITDA is now expected to be between 3,075 and 3,125 million euros (compared with the previous guidance of 2,800–2,900 million), free cash flow revised to €1,750–1,850 million (from the previous range of €1,650–1,750 million).
The CEO, Massimo Battaini, speaking on a conference call, gave positive guidance, stating that the group had not observed a slowdown in the data centre sector. He also stated that ‘artificial intelligence is accelerating faster than expected’. Regarding the possible dual listing in the United States, the CEO confirmed that the option remains “a great opportunity” given the group’s increased presence in the US following the Atkore acquisition: “We are continuing our assessment with the board of directors without setting any tight deadlines. We will announce the decision in due course’, he explained.
Equita immediately confirmed its positive recommendation (‘Buy’ with a target price of 181 euros). Jefferies also gave it the thumbs up (‘Buy’ with a target price of €161), which praised “the exceptional performance of the Electrification segment” as well as the upward revision of the guidance, which now means the group will achieve the targets set at Capital Markets Day 2028 a full two years ahead of schedule.
