The earnings call reflects a strong performance across Ferrovial's business divisions, particularly in North American highways, with significant revenue and EBITDA growth. Strategic investments and divestments have strengthened the company's position. However, challenges such as adverse weather impacts, a decline in dividends from North American highways, and operating cash flow issues present some concerns.

Company Guidance

During the call discussing Ferrovial's financial performance for the first half of 2025, several key metrics and guidance were highlighted. The company reported strong growth in its Highways division, with revenues increasing by 14.9% and adjusted EBITDA improving by 17.1% on a like-for-like basis, primarily driven by U.S. assets. The U.S. highways alone saw revenue growth of 15.9% and adjusted EBITDA growth of 14%, comprising a significant portion of the total revenues and EBITDA. In the Construction division, Ferrovial achieved an adjusted EBIT margin of 3.5%, aligning with its long-term target. Additionally, the company ended the first half with a net debt position of negative EUR 223 million, excluding infrastructure project companies, and highlighted significant capital allocation activities, including the acquisition of an additional stake in 407 ETR for EUR 1.3 billion and the divestment of AGS Airports for EUR 533 million. The New Terminal One at JFK Airport reported 72% construction progress, and the company issued $1.4 billion in long-term green bonds for refinancing. Furthermore, Ferrovial maintained a robust order book valued at EUR 17.3 billion, with significant contributions from North America, and reported a negative operating cash flow of EUR 104 million, attributed to the absence of advanced payments. The call concluded with an emphasis on continued strategic growth and a promising pipeline of U.S. highway projects.

Robust Performance Across Business Divisions

Strong revenue and EBITDA growth in North American highways assets, with highway revenues growing 14.9% and adjusted EBITDA improving 17.1% in the first half of 2025.

Strategic Investments and Divestments

Closed acquisition of an additional 5.06% stake in 407 ETR for CAD 1.99 billion. Divested entire stake in Heathrow Airport for GBP 466 million and AGS Airports for EUR 533 million.

407 ETR Double-Digit Growth

407 ETR revenue grew by 19.7% and EBITDA by 13% in the first half of 2025. Traffic improved by 5.8% in Q2.

Positive Developments in U.S. Managed Lanes

I-66 revenue per transaction grew 22.5% in the first half, and I-77 revenue per transaction grew 23.8%.

Construction Segment Solid Performance

Construction revenues reached EUR 3,453 million, up 2.6% like-for-like, with an adjusted EBIT margin of 3.5%.

New Terminal One at JFK on Schedule

Construction advanced 72% by the end of Q2 2025. Issued $1.4 billion in long-term green bonds for refinancing Phase A.

Ferrovial (GB:0P2N) 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

Daily Earnings Calendar >

GB:0P2N Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	0.31 / -	0.24	―	―	―
Jul 29, 2025	2025 (Q2)	0.24 / 0.24	0.374	-35.83% (-0.13)	―	―
May 13, 2025	2025 (Q1)	0.16 / 0.18	0.12	50.00% (+0.06)	―	―
Feb 28, 2025	2024 (Q4)	0.23 / 0.22	0	―	―	―
Oct 29, 2024	2024 (Q3)	0.23 / 0.24	0.075	220.00% (+0.16)	―	―
Jul 31, 2024	2024 (Q2)	0.20 / 0.37	0.11	240.00% (+0.26)	―	―
May 13, 2024	2024 (Q1)	0.14 / 0.12	-0.01	1300.00% (+0.13)	―	―
Feb 27, 2024	2023 (Q4)	0.08 / 0.00	0.192	―	―	―
Oct 31, 2023	2023 (Q3)	0.06 / 0.07	0.078	-3.85% (>-0.01)	―	―
Jul 27, 2023	2023 (Q2)	0.08 / 0.11	0.15	-26.67% (-0.04)	―	―

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

GB:0P2N Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	€45.12	€44.99	-0.29%
May 13, 2025	€43.16	€44.48	+3.06%
Feb 28, 2025	€43.15	€41.60	-3.59%
Oct 29, 2024	€37.00	€36.42	-1.57%

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 (GB:0P2N) report earnings?

Ferrovial SA (GB:0P2N) is schdueled to report earning on Oct 28, 2025, After Close (Confirmed).

What is Ferrovial SA (GB:0P2N) earnings time?

Ferrovial SA (GB:0P2N) earnings time is at Oct 28, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is the P/E ratio of Ferrovial SA stock?

The P/E ratio of Ferrovial is N/A.

What is GB:0P2N EPS forecast?

GB:0P2N EPS forecast for the fiscal quarter 2025 (Q3) is 0.31.

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