Holcim raised its full-year earnings outlook after third-quarter profit exceeded market expectations, supported by stronger building-solutions sales and improving margins.
The Swiss building-materials group reported recurring operating profit of CHF 976 million, up 17% from a year earlier and above analysts’ consensus estimate of CHF 949 million. Sales reached CHF 4.66 billion.
Holcim now expects recurring operating profit to increase 10% to 12% in 2026, improving on its previous forecast for approximately 10% growth.
Investors responded positively, with the company’s shares rising about 5.5% following the results.
Building Solutions was a major contributor. Sales from products including roofing, flooring and wall systems increased 27%, helping Holcim expand beyond its traditional cement and concrete businesses.
The company is also benefiting from increased sales of lower-carbon cement and concrete and greater use of recycled construction materials. These products can provide both pricing benefits and lower production costs as governments and developers place greater emphasis on reducing emissions from construction.
Acquisitions remain another important part of Holcim’s strategy. The company has completed more than 100 transactions over roughly five years while reducing exposure to markets it considers less attractive.
Infrastructure spending is expected to remain an important source of demand heading into 2027, while the recovery in European residential construction remains more dependent on interest rates and financing conditions.
For investors, the stronger forecast suggests Holcim is maintaining pricing and margin strength despite an uneven global construction environment.
The next indicators will be European housing activity, infrastructure investment and whether Building Solutions can continue expanding faster than Holcim’s traditional materials businesses.
