Knorr-Bremse's Q3/26 Results: Revenue and Cash Flow Strong, Rail Division Orders Lag

Knorr-Bremse AG has released its third-quarter 2026 financial figures, highlighting a mixed performance. The Rail Division's order intake fell short of projections, reaching approximately EUR 1.05 billion, below the expected EUR 1.18 billion. This shortfall is mainly due to delayed customer orders and a strategic decision to forgo a European project.

Despite these challenges, the company reports solid financial metrics, with revenue and free cash flow anticipated at the upper end of guidance ranges. Total revenue in Q3/26 was about EUR 2.05 billion, close to the consensus of EUR 2.09 billion. Free cash flow improved significantly, climbing by 50% from Q3/25 to EUR 238 million.

Knorr-Bremse confirms its full-year 2026 revenue target of EUR 8.1 to EUR 8.3 billion, expecting it to reach the higher end. The operating EBIT margin is projected to remain between 14.0% and 14.5%.