Acerinox, S.A. (ACX) Earnings Call Transcripts

Acerinox, S.A.'s Latest Earnings Call - Q1 FY2026

Acerinox, S.A. reported its Q1 2026 earnings with a notable improvement in sales and production despite ongoing global uncertainties. Revenue increased by 6% and adjusted EBITDA rose by 18% to EUR 119 million. The company highlighted a significant 22% increase in melting production quarter-on-quarter. Management maintained a cautious outlook due to geopolitical tensions but signaled potential improvements in the second half of the year. No changes to guidance were explicitly mentioned, but management expressed confidence in achieving better figures in the upcoming quarters.

Reported metrics

Guidance from management

Management expects improved figures in the coming quarters, with stable prices in the U.S. and a gradual recovery in Europe. No explicit guidance changes were mentioned.

What management said

And of course, what you are saying, Bastian about the effect of the increase of the raw materials and in prices, it's a fact in the states, okay? The pass-through in the states is working perfectly and of course, it's bringing us some benefits, but it is not really the same in Europe. This EUR 25 million that we are talking -- that we have been talking about is in Europe, and is it -- and this is the total adjustment...

Gradually, yes, maybe for the second half of the year, yes, in transitioning for the second quarter. So the contribution in HPA in the last year was highly covered by the European HPA, lower contribution from the American one. This year is going to be just a contrary. So the European more exposed to the oil and gas is contributing less. And gradually, the American contribution is going to be higher. So it's going to ...

What analysts pressed on

Analysts expressed concerns about the inventory adjustments and the impact of geopolitical tensions on demand. Questions were raised about the capacity utilization in Europe and the potential U.S. listing.

Main topics on the call

• Sales and Production Growth — Acerinox reported a 6% increase in sales and a 22% rise in melting production quarter-on-quarter. Management highlighted, 'improvement in sales of around 6%' and 'melting production that has been growing 22% quarter-on-q...
• Adjusted EBITDA Improvement — Adjusted EBITDA grew to EUR 119 million, an 18% increase compared to the previous quarter. Management attributed this to disciplined working capital management and increased production volumes.
• Market Conditions in the U.S. and Europe — The U.S. market remains robust with effective tariffs and reduced imports, while Europe shows signs of improvement but still faces demand challenges. Management noted, 'the stainless market in the States... remains solid...
• High-Performance Alloys (HPA) Segment — The HPA segment faced challenges in Europe due to low demand in oil and gas sectors, but showed potential in aerospace and gas turbines. Management stated, 'the tough part of the market in the HPA probably is the one in ...

Read the full Acerinox, S.A. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 31 Acerinox, S.A. earnings call transcripts on record, spanning February 28, 2020 to July 24, 2026. Based on this history, Acerinox, S.A. reports quarterly. The most recent call on file is dated July 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ACX

Exchange

BME

Country

ES

Sector

Materials

Industry

Metals and Mining

Calls on record

31

First call

February 28, 2020

Most recent

July 24, 2026

Reporting cadence

quarterly