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Ferrovial SA (ES:FER)
BME:FER
Spanish Market
FER
Ferrovial
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Ferrovial (FER) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
May 19, 2026
After Close (Confirmed)
Period Ending
2026 (Q1)
Consensus EPS Forecast
―
Last Year’s EPS
0.18
Same Quarter Last Year
Analyst Consensus
Strong Buy
Based on 8 Analysts Ratings

Earnings Call Summary

Q4 2025
Earnings Call Date:Feb 25, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call presented strong operational and financial momentum: company-wide revenue and adjusted EBITDA growth, record project dividends, a record construction order book, positive cash generation and a strengthened North American platform (including increased 407 stake and multiple U.S. bids). These positives were tempered by localized traffic softness tied to construction works, one-off provisions (credit loss and Schedule 22), some Q4 EBITDA headwinds from FX and bidding costs, and a delay in NTO phase opening. On balance, the scale and quality of earnings, cash generation and strategic progress materially outweigh the transitory challenges.
Company Guidance
Management reiterated disciplined capital allocation and growth funded from portfolio cash flow, proposing a EUR 1.0bn dividend (EUR 400m top‑up) that would bring aggregate 2024–26 distributions to EUR 2.2bn, while preserving optional leverage headroom (internal ~2x net debt/EBITDA proxy) and a net cash position ex‑infra of negative net debt of $1.3bn; investments in 2025 totaled EUR 1,970m (including ~EUR 1.3bn for an additional 5% in 407 ETR and EUR 236m equity into NTO), divestments were EUR 1,158m (Heathrow EUR 539m, AGS EUR 533m), share buybacks reached EUR 501m and cash dividends to shareholders EUR 156m. Operational and target guidance emphasized continued U.S. highways and construction-led growth (group revenue EUR 9.6bn, +8.6% LFL; adjusted EBITDA EUR 1.5bn, +12.2% LFL), record construction order book EUR 17.4bn (+10.1% LFL) with construction revenue EUR 7.7bn (+7.5%), adjusted EBITDA EUR 511m (+19.9%) and adjusted EBIT EUR 352m (+24.2%) (division margin 4.6% vs long‑term adjusted EBIT target 3.5%); project milestones include NTO 82% complete with Phase A refinancing of $1.4bn and first‑phase operational readiness targeted for fall 2026, continued promotions/segmentation at 407 (traffic +6.1%, revenue +17.8%, tolls +17.6%, EBITDA +14.2%, dividends CAD 1.5bn) and expectations that select toll rates (e.g., I‑66) will grow above inflation, supported by a “record” U.S. pipeline and recurring dividends from projects of EUR 968m in 2025.
Revenue and EBITDA Growth
Total revenue EUR 9.6bn, up 8.6% year-over-year like-for-like; adjusted EBITDA EUR 1.5bn, up 12.2% like-for-like, driven by U.S. Highways and Construction.
Record Dividends from Infrastructure
Dividends from projects reached a record EUR 968m, up 2.2% year-over-year, with North American Highways contributing EUR 855m.
Strong North American Highways Performance
Highways revenue growth 13.7% LFL and adjusted EBITDA +12.2% LFL; U.S. Highways revenue +14.2% LFL and adjusted EBITDA +12.4%.
Exceptional 407 ETR Results
407 ETR traffic +6.1%; revenue +17.8% YoY (toll revenue +17.6%); EBITDA +14.2%; distributed CAD 1.5bn in dividends; company increased stake (+5.06%) for ~EUR 1.3bn.
Managed Lanes — Robust Revenue and Yield Gains
Dallas‑Fort Worth projects delivered strong growth (NTE revenue +8.1%, adj EBITDA +5.5%; LBJ revenue +8.6%, adj EBITDA +9.2%; 35 West revenue +14.7%, adj EBITDA +10.6%); revenue per transaction rose well above inflation (NTE +13.4%, LBJ +8.7%, 35 West +11.6%).
Construction: Record Order Book and Margin Expansion
Construction revenue EUR 7.7bn (+7.5% LFL); adjusted EBITDA EUR 511m (+19.9%); adjusted EBIT EUR 352m (+24.2% LFL); record order book EUR 17.4bn (+10.1% LFL); adjusted EBIT margin 4.6% (above long-term target).
Strong Cash Generation, Deleveraging and Shareholder Returns
Operating cash flow EUR 597m (vs EUR 291m prior year); negative net debt ex infra projects of $1.3bn; proceeds from divestments EUR 1,158m (Heathrow EUR 539m, AGS EUR 533m); share buybacks EUR 501m and proposed dividends EUR 1.0bn (EUR 400m top-up).
Operational Milestones and Pipeline
New Terminal One (JFK) progressed to 82% construction; shortlisted for major U.S. managed‑lane tenders (I-285, I-24, I-77 South) and joined NASDAQ‑100 in Dec 2025; total shareholder return 38.6% in 2025.

Ferrovial (ES:FER) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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ES:FER Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
May 19, 2026
2026 (Q1)
- / -
0.18―――
Feb 25, 2026
2025 (Q4)
0.25 / 0.27
0.22221.62% (+0.05)――
Oct 28, 2025
2025 (Q3)
0.30 / 0.28
0.2416.67% (+0.04)――
Jul 29, 2025
2025 (Q2)
0.24 / 0.24
0.374-35.83% (-0.13)――
May 13, 2025
2025 (Q1)
0.16 / 0.18
0.1250.00% (+0.06)――
Feb 28, 2025
2024 (Q4)
0.23 / 0.22
0―――
Oct 29, 2024
2024 (Q3)
0.23 / 0.24
0.075220.00% (+0.16)――
Jul 31, 2024
2024 (Q2)
0.20 / 0.37
0.11240.00% (+0.26)――
May 13, 2024
2024 (Q1)
0.14 / 0.12
-0.011300.00% (+0.13)――
Feb 27, 2024
2023 (Q4)
0.08 / 0.00
0.192―――
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed

ES:FER Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Feb 25, 2026
€61.30€62.78+2.41%
Oct 28, 2025
€54.98€53.34-2.98%
Jul 29, 2025
€45.14€44.99-0.33%
May 13, 2025
€42.84€44.20+3.18%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Ferrovial SA (ES:FER) report earnings?
Ferrovial SA (ES:FER) is schdueled to report earning on May 19, 2026, After Close (Confirmed).
    What is Ferrovial SA (ES:FER) earnings time?
    Ferrovial SA (ES:FER) earnings time is at May 19, 2026, After Close (Confirmed).
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          What is the P/E ratio of Ferrovial SA stock?
          The P/E ratio of Ferrovial is N/A.
            What is ES:FER EPS forecast?
            Currently, no data Available