Melrose Industries (MRO) Q3 2025 TU earnings summary

Executive summary

• Delivered strong performance with continued momentum in civil and defence businesses during a transformational year.

• Focus remains on ramping up production and meeting customer demand, leveraging strong market positions and differentiated technologies.

Financial highlights

• Group revenue grew by 14% compared to the same period last year.

• Engines segment revenue increased by 28%, with OE up 35% and aftermarket up 22%.

• Structures segment revenue rose by 5%, with Defence showing encouraging growth.

• Adjusted operating profit significantly higher than the comparative period and in line with expectations.

Outlook and guidance

• Full year revenue guidance confirmed at £3.425 billion to £3.575 billion.

• Adjusted operating profit guidance (post PLC costs) at £620 million to £650 million.

• Free cash flow generation expected to exceed £100 million after interest and tax.

• Guidance based on US$ = 1.335 average exchange rate; excludes impact of new or changed tariffs.