Outokumpu Oyj · Q2 2026 earnings

Briefing

Outokumpu Oyj reported improved profitability for Q2 2026 with sales rising to EUR 1.582 billion and adjusted EBITDA reaching EUR 100 million.

Outokumpu Oyj delivered Q2 2026 results showing sales of EUR 1,582 million, up from EUR 1,486 million in Q2 2025, driven by higher average selling prices. Adjusted EBITDA increased to EUR 100 million from EUR 75 million year-over-year, supported by stronger performance across business areas, particularly Europe and Americas. Net result turned positive to EUR 25 million with EPS of EUR 0.05, while operating cash flow remained solid at EUR 85 million and net debt declined to EUR 224 million.

• Adjusted EBITDA rose to EUR 100 million in Q2 2026, up from EUR 75 million in Q2 2025, mainly due to improvements in BA Europe and continued strength in BA Americas and Ferrochrome.
• Stainless steel deliveries increased 5% quarter-over-quarter to support higher sales of EUR 1,582 million.
• Net result improved to EUR 25 million (EPS EUR 0.05) from a loss of EUR 19 million in the prior-year quarter.
• Net debt decreased to EUR 224 million despite a EUR 28 million dividend payment, with operating cash flow at EUR 85 million.

Headline financials

Revenue & EPS history

Adjusted EBITDA in Q3 2026 expected at a similar level to Q2 2026; stainless steel deliveries expected to decrease 0-10% due to seasonality in Europe, with positive net impact from prices and raw materials and some inventory gains forecasted.