ACS stock: Nine-month profit rises as backlog hits 111 billion euros

ACS reported stronger operating performance for the first nine months of 2026, with ordinary net profit rising to 789 million euros. Investing.com published the figures on Wednesday, November 11, citing the company's results announcement.

Profit growth reaches key businesses

Revenue increased to 41.262 billion euros in the January-to-September period, up 13.7% on a currency-adjusted basis. EBITDA rose 13% to 2.506 billion euros, while comparable profit before tax increased 32.1% to 1.412 billion euros. Earnings per share reached 3.02 euros.

The company said Turner and Engineering and Construction were the main operational contributors. Turner generated ordinary net profit of 524 million euros, up 49.5% on a currency-adjusted basis. Engineering and Construction contributed 192 million euros, an increase of 23% on the same basis, while CIMIC reached 157 million euros, up 22.1% on a comparable basis.

Record backlog supports visibility

ACS ended September with a record project backlog of 111 billion euros, representing comparable growth of 27%. New awards accelerated 30% on a currency-adjusted basis to 56.2 billion euros, producing a trailing twelve-month book-to-bill ratio of 1.4 times.

Digital infrastructure remained a central growth driver. The data-center backlog reached 26 billion euros, 94% above the prior-year level. Backlogs in critical minerals, energy, water and industry also expanded, reinforcing the group's focus on infrastructure markets linked to long-term investment needs.

Full-year target remains unchanged

ACS reiterated its 2026 ordinary net profit target of between 1.11 billion and 1.155 billion euros, equivalent to growth of 30% to 35%. Operating cash flow before factoring reached 2.3 billion euros on a trailing twelve-month basis, while net debt improved by 1.3 billion euros year on year.

Capital allocation remained active during the period. ACS invested 2.2 billion euros in the first nine months, including 644 million euros in data-center projects, 524 million euros to increase its stake in Hochtief, 727 million euros in Thiess minority interests and 132 million euros in acquisitions.

ACS stock trades in Berlin

ACS stock traded at 93.48 euros on Lang & Schwarz at 10:33 CET on Thursday, November 12, 2026.

Investors can follow the wider Spanish market through the IBEX 35.

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