Investing.com -- KION Group reported third-quarter adjusted earnings below analyst expectations, as its Industrial Trucks & Services business lagged a recovering market, while the German forklift maker had earlier cut its guidance due to weaker-than-expected order intake in the segment.
The German material handling equipment maker posted third quarter revenue of €2.84 billion, below the analyst consensus of €2.85 billion but up 4.8% YoY. Adjusted EBIT came in at €202.9 million, missing the consensus estimate of €211 million, though representing a 6.5% increase from the prior year period. The adjusted EBIT margin of 7.2% fell short of the 7.4% analyst estimate. Order intake of €2.65 billion also trailed the €2.69 billion consensus and declined 0.9% YoY.
For the nine-month period, KION generated revenue of €8.52 billion, up 3.9% YoY, with adjusted EBIT rising 9.9% to €632.5 million. The adjusted EBIT margin improved to 7.4% from 7.0% in the prior year period.
"In the first nine months of 2026, Intelligent Automation Solutions developed very well in line with our profitable growth strategy: Revenue and adjusted EBIT grew double-digit – a very strong performance," said Rob Smith, CEO of KION. "In the APAC region, Industrial Trucks & Services competed head on with the Chinese Industrial Truck players but did not participate in the strong market growth in EMEA."
The company revised its full-year 2026 outlook on October 14, lowering revenue guidance to €11.45-11.75 billion from €11.53-12.03 billion previously. The midpoint of €11.60 billion represents a reduction from the prior midpoint of €11.78 billion. Adjusted EBIT guidance was cut to €815-875 million from €880-980 million, with the new midpoint of €845 million well below the previous €930 million. Free cash flow guidance was reduced to €400-500 million from €420-540 million.
The Industrial Trucks & Services segment saw order intake decline 1.4% to €1.92 billion in the third quarter, missing estimates of €1.94 billion, while revenue of €1.96 billion fell short of the €1.98 billion consensus. The Intelligent Automation Solutions segment posted strong performance with revenue of €890.2 million, up 15.8% YoY and exceeding the €877 million estimate.
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