Renishaw plc (LON:RSW), a world leader in measuring and manufacturing systems, has published this trading update for the nine months ended 31 March 2026 (9M FY2026).
Accelerating growth in Q3
| Performance highlights · Accelerating 9M revenue growth: 9.5% at actual exchange rates, 13.5% at constant exchange rates* o Q3 was a record quarter with revenue up 14.0% to £206.0m at actual exchange rates · Continued strong demand from semiconductor & electronics manufacturing and aerospace & defence during Q3, leading to a substantial expansion of the order book in all three segments. · Full-year expectations in line with recently upgraded guidance: | |
| o Revenue: o Adjusted profit before tax: | £775m to £805m £145m to £165m |
Record 9M revenue
We have built momentum through the year to date, with significant contributions from our emerging products, delivering revenue growth in each segment and each region, as well as a substantial further expansion of our order book.
Total 9M revenue at actual exchange rates was 9.5% higher at £571.6m (FY2025: £522.1m) and was a record for the 9M period. Revenue at constant exchange rates* was 13.5% higher than the previous year.
| Segmental revenue (£m) | Q1FY2026 | Q2FY2026 | Q3FY2026 | 9MFY2026 | 9MFY2025 | 9M Growth | 9M ConstantFX growth |
| Industrial Metrology | 102.0 | 110.1 | 115.3 | 327.4 | 315.2 | 3.9% | 7.7% |
| Position Measurement | 52.1 | 58.4 | 68.9 | 179.4 | 153.5 | 16.9% | 21.6% |
| Specialised Technologies | 16.7 | 26.3 | 21.8 | 64.8 | 53.4 | 21.2% | 24.5% |
| Group | 170.8 | 194.8 | 206.0 | 571.6 | 522.1 | 9.5% | 13.5% |
Industrial Metrology (IM) revenue for the 9M period was 7.7% higher at constant exchange rates. Our emerging metrology systems and software products, including our new Equator-X™ gauge, have delivered strong year-on-year revenue growth, as well as a growing order book. Machine calibration systems have also grown strongly, underpinned by demand from semiconductor manufacturing equipment builders. By contrast, sales of metrology sensors to machine tool and CMM builders were slightly weaker than the prior year.
Position Measurement (PM) revenue for the 9M period was 21.6% higher at constant exchange rates, accelerating from 11.9% at the half year, with very strong sales growth for open optical and magnetic encoders, as well as a substantial further expansion of the order book. Order intake has accelerated in the third quarter, notably from the semiconductor and electronics manufacturing equipment sector. Meanwhile, sales of laser encoders were lower than a strong comparative 9M period in the prior year, but the order book has grown. Following the recent launch of our ASTRiA™ inductive encoder, we are working closely with key prospects, including various aerospace & defence sector applications, with early production orders now being received.
Specialised Technologies (ST) revenue for the 9M period was 24.5% higher at constant exchange rates. Sales of metal additive manufacturing (AM) systems were significantly higher than the prior year, and the AM order book has grown substantially, with strong prospects in the aerospace & defence, medical devices and consumer electronics sectors. Spectroscopy revenues are slightly lower than the prior year, but the order book has risen.
9M revenue was up year-on-year in all three regions, with strong growth at constant exchange rates in the Americas and APAC regions. After a slow start to the year, revenue in EMEA grew strongly in Q3 and is now above the prior year for the 9M period, compared with a 5.5% decline at the half year.
| Regional revenue (£m) | Q1FY2026 | Q2FY2026 | Q3FY2026 | 9MFY2026 | 9MFY2025 | 9M Growth | 9M ConstantFX growth |
| APAC | 84.4 | 93.6 | 94.7 | 272.7 | 248.1 | 9.9% | 15.8% |
| EMEA | 42.6 | 54.4 | 59.1 | 156.1 | 153.5 | 1.7% | 1.3% |
| Americas | 43.8 | 46.8 | 52.2 | 142.8 | 120.4 | 18.6% | 24.3% |
| Group | 170.8 | 194.8 | 206.0 | 571.6 | 522.1 | 9.5% | 13.5% |
Geopolitical backdrop
We are closely monitoring the commercial impact of the conflict in the Middle East and the main effect so far has been on our global logistics costs. We continue to monitor and manage the impact of the US Government’s tariff changes.
We are also facing tight supply chains for certain semiconductors and critical materials. We have experienced these types of challenges previously and, although lead times may be impacted in the short term, we do not expect a material impact on operations in the remainder of this financial year.
Outlook
We expect positive market conditions to continue for the remainder of FY2026, with ongoing strong demand across specific sectors and product lines offsetting more subdued conditions in general industrial markets.
Our expectations for FY2026 full-year performance remain in line with recently upgraded guidance for the following ranges:
· Revenue: £775m to £805m
· Adjusted profit before tax: £145m to £165m
Capital Markets Day
We are holding our 2026 CMD in London on Tuesday 16 June, with an accompanying live video webcast for those unable to attend in-person. The agenda will include updates on our strategic progress, our Additive Manufacturing business, and an explanation of our markets and growth drivers. The event will run from 9.45 BST until 13:30, with lunch included. Full details of the in-person event and live webcast can be found at https://www.renishaw.com/en/capital-markets-day-tuesday-16th-june-2026–50030
