Morgan Advanced Materials PLC (GB:BA29)
LSE:BA29
Earnings Data
Report Date
Jul 31, 2026TBA (Not Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
Mixed but balanced. The company delivered a resilient margin (9.6%) and positive free cash flow (GBP 45m) despite a 3.3% organic revenue decline and a ~6.7% volume drop driven by semiconductor weakness. Management has stabilized H2 performance, realized tangible simplification and procurement benefits, and identified clear strategic actions (sale of MMS, strategic review of Thermal Products) with targeted margin uplift (c.12% EBITDA by 2028). However, near‑term headwinds remain: semiconductor impairment (GBP 15.6m), substantial specific adjusting items (GBP 47.6m), Thermal Products operational and regional weaknesses, inflation outpacing pricing, and leverage above the target range (~1.8x). The outlook implies gradual improvement (2026 margin ~10% and 1%–2% organic market growth) while the group executes transformation and portfolio optimization.Company Guidance
Resilient headline profit and margin
Headline adjusted operating profit of GBP 99.1m with an adjusted operating margin of 9.6%, delivered despite challenging end markets and volume pressure.
Positive free cash flow and working capital improvement
Headline free cash flow inflow of GBP 45.4m and working capital improvement inflow of GBP 50.4m (underlying improvement ~GBP 13m plus ~GBP 38m non‑recourse arrangements), reflecting stronger inventory and receivables management.
Stabilization in second half and 2026 guidance
Revenue was broadly flat in H2 after H1 decline; group guidance for 2026: organic constant currency end‑market revenue growth of 1%–2% and adjusted operating margin returning to around 10%.
Strong growth in key end markets
Technical Ceramics aerospace & defense grew ~22% (driving resilience and revenue growth in that division); fire protection achieved double‑digit growth with revenue up ~60% in 2025 in the Middle East.
Pricing, efficiency and simplification benefits
Pricing of ~3.5% for the year partially offset cost inflation; simplification and continuous improvement delivered ~1.7 percentage points of margin benefit in 2025 and GBP 16m of in‑year benefits, with total implementation benefits delivered to date of GBP 24m.
Portfolio management and strategic actions
Sale of Molten Metal Systems (MMS) progressed (net GBP 10m received after tax and fees with balance due in 2026) and strategic review of Thermal Products initiated to maximize portfolio value and consider disposal or other options.
Balance sheet and capital discipline
Net debt of GBP 232m (excluding leases) at ~1.8x EBITDA with a clear plan to reduce leverage toward ~1.5x over two years; capital expenditure guidance moderated to ~GBP 50m annually (≈1.2x depreciation) to prioritize selective growth investments.
Attractive returns and controlled investment
Return on invested capital was 14.1%, and management expects to deliver net transform benefits of circa GBP 11m in 2026 while keeping further capex targeted and modest.
GB:BA29 Earnings History
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:BA29 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 03, 2026 | 69.50 p | 69.50 p | 0.00% |
Aug 07, 2025 | 69.50 p | 69.50 p | 0.00% |
Feb 28, 2025 | 75.50 p | 75.50 p | 0.00% |
Aug 06, 2024 | 64.78 p | 64.78 p | 0.00% |
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 Morgan Advanced Materials PLC (GB:BA29) report earnings?
Morgan Advanced Materials PLC (GB:BA29) is schdueled to report earning on Jul 31, 2026, TBA (Not Confirmed).
What is Morgan Advanced Materials PLC (GB:BA29) earnings time?
Morgan Advanced Materials PLC (GB:BA29) earnings time is at Jul 31, 2026, TBA (Not Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Morgan Advanced Materials PLC stock?
The P/E ratio of Morgan Advanced Materials is N/A.
What is GB:BA29 EPS forecast?
Currently, no data Available