Legrand (LR) Q1 2026 earnings summary

Executive summary

• Achieved 18.3% sales growth excluding currency effects in Q1 2026, with organic growth of 9.3% and acquisitions contributing 8.2%.

• Net profit attributable to the Group rose 14.2% year-over-year to €335 million.

• Adjusted operating margin after acquisitions held at 20.7% of sales.

• Four acquisitions in datacenters and energy transition added €275 million in annual revenue.

• 2026 full-year targets confirmed, with continued focus on profitable and responsible growth.

Financial highlights

• Q1 2026 net sales reached €2,537.6 million, up 11.4% year-over-year.

• Adjusted operating profit margin was 20.7%, stable year-over-year.

• Free cash flow increased 17.5% to €221 million, representing 8.7% of sales.

• Net profit margin was 13.2% of sales.

• Net financial debt rose to €4,670.5 million, with a net debt/EBITDA ratio of 2.1.

Outlook and guidance

• 2026 sales growth (excluding currency effects) targeted at 10% to 15%, with organic growth of 4% to 7% and acquisition growth of 6% to 8%.

• Adjusted operating margin guidance of 20.5% to 21.0% of sales.

• Data center growth expected at the high end of the 10%-20% range, with strong order intake.

• CSR achievement rate target of at least 100% for the second year of the 2025–2027 roadmap.

• Guidance maintained despite market uncertainties and geopolitical risks.