Ocado Group plc (OCDGF)
OTHER OTC:OCDGF
Earnings Data
Report Date
Jul 14, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.26Last Year’s EPS
-0.22Same Quarter Last Year
Moderate Sell
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed materially positive operational and financial progress — double‑digit revenue growth, strong performance at Ocado Retail, logistics productivity gains, and clear targets to reach cash‑flow positivity by H2 FY26/FY27 supported by a defined GBP 150m cost/capital reduction plan. At the same time, the company disclosed meaningful near‑term challenges: timing and accounting noise in cash flows, higher finance costs and upcoming debt maturities, North American site closures that reduced near‑term module utilization, and some rollout timing risk. On balance management presented a credible plan and tangible operational momentum, but execution risks (debt servicing, rollout timing and one‑off items) remain and will determine delivery against guidance.Company Guidance
Group Revenue and EBITDA Growth
Group revenue grew 12% year‑over‑year; adjusted EBITDA increased by GBP 66m to GBP 178m, reflecting stronger profitability across segments.
Strong Ocado Retail Performance
Ocado Retail revenue up 15% with gross profit up 14%; orders grew 13% and average basket value +1.3%. Customer base comfortably over 1.2 million and underlying EBITDA margin (adjusted for Hatfield fees) around 3.8%, with operational leverage (CFC costs +7% vs revenue +15%).
Logistics Productivity and Revenue Growth
Ocado Logistics revenue grew 11%; eaches +8%, orders per week +10%. Productivity improvements: weighted average DP8 ~21, UPH averaged 289 in FY25 with Luton peaking at 318 (now into the 320s). Logistics delivered reliable EBITDA and operational leverage as TSAs rolled off.
Tech Solutions — Modules, Margin and Guidance
Tech solutions: average live modules at 121 today, targeting at least 125 and aiming for >130 by FY27. Recurring tech revenues grew (~7% recurring revenue cited); contribution margin improved to ~72% with a target to exceed 75%. Guidance for tech solutions revenue ~GBP 500m and adjusted EBITDA margin around 30%.
Platform Scale and Operational Metrics
Platform scale: shipped ~72 million orders on OSP in the year, >98% fulfillment rate, average waste ~0.7%. International CFC volume growth ~26% and average 10% improvement in CFC productivity across clients. Installed base: 127 warehouses live, >1,000 stores, ~17,000 bots, ~431 on‑grid picking arms and >2,500 truck AMRs.
Same‑Day/Short‑Lead Innovation Progress
New short‑lead and same‑day functionality is deployed (9 CFCs live with the capability); earliest order‑to‑delivery observed ~73 minutes and early implementation achieved up to 40% same‑day deliveries in a warehouse—positioning the platform for shorter‑lead commercial propositions.
Improved Liquidity and Capital Receipts
Year‑end liquidity around GBP 700m (cash + RCF). Post‑year inflows bolstered liquidity by ~GBP 279m; received proceeds from a letter of credit (~GBP 113m) and final AutoStore settlement, strengthening short‑term cash position.
Cost and Capital Discipline — Clear Savings Targets
Management targets aggregate cost and capital savings of ~GBP 150m (tech + SG&A). Tech spend fell to ~GBP 248m (CapEx + P&L) in FY25 and management expects ~GBP 100m reduction in tech spend over the next two years; SG&A targeted ~GBP 50m lighter in FY27 vs FY25.
Pathway to Cash Flow Positive
Clear plan to turn cash flow positive in H2 FY26 and deliver full‑year cash generation in FY27. Key assumptions include module base of ~125–130+, c. GBP 3m cash contribution per module and reduced tech+SG&A to ~GBP 250m (from ~GBP 400m) to support positive cash generation.
OCDGF 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
OCDGF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $3.22 | $3.22 | 0.00% |
Jul 17, 2025 | $3.12 | $3.12 | 0.00% |
Feb 27, 2025 | $4.17 | $3.47 | -16.69% |
Jul 16, 2024 | $4.44 | $4.66 | +4.84% |
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 Ocado Group plc (OCDGF) report earnings?
Ocado Group plc (OCDGF) is schdueled to report earning on Jul 14, 2026, Before Open (Confirmed).
What is Ocado Group plc (OCDGF) earnings time?
Ocado Group plc (OCDGF) earnings time is at Jul 14, 2026, Before Open (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 OCDGF EPS forecast?
OCDGF EPS forecast for the fiscal quarter 2026 (Q2) is -0.26.