Amrize Updates 2026 Guidance on Cost Inflation and Rates as Pricing Lifts Third-Quarter Profit

Amrize updated its 2026 financial guidance on Wednesday, citing continued cost inflation and elevated interest rates, after a third quarter in which higher cement and aggregates prices kept profit growing even as weather cut into volumes.

The North American building materials company, based in Chicago and Zug, Switzerland, now expects 2026 revenue of $12.2 billion to $12.4 billion and adjusted EBITDA of $2.95 billion to $3.05 billion, according to the earnings release it filed with an 8-K on Wednesday.

For the third quarter, revenue rose 2.2% to $3.77 billion and net income grew 3.3% to $558 million, or $1.02 per diluted share, from $540 million, or $0.98 a share. Adjusted diluted EPS was flat at $1.05, and adjusted EBITDA edged up 0.2% to $1.08 billion.

Price over volume

Price increases added $78 million to revenue, acquisitions contributed $77 million and energy, fuel and freight surcharges added $23 million, partly offset by lower volumes and currency effects.

"While oil price driven cost inflation continued to affect the industry, we're proactively managing what we can control and achieved strong gains in pricing, surcharges and our ASPIRE program," Chairman and CEO Jan Jenisch said in the release.

In Building Materials, cement pricing rose 1.8% and aggregates pricing climbed 6.9% on a constant currency basis. Cement volumes fell 4.2% and aggregates volumes dipped 0.2%, which the company blamed on weather in the Northeast, South and Central regions. Segment adjusted EBITDA rose 2.7% to $938 million, and its margin widened 30 basis points to 33.0%.

Roofing margins squeezed

Building Envelope, which includes commercial and residential roofing, grew revenue 3.6% to $929 million, but segment adjusted EBITDA fell 14.6% to $182 million, and its margin dropped 410 basis points to 19.6%.

Amrize said price increases and surcharges are phasing in across the portfolio, but the scale of inflation has pushed its expectation for Building Envelope to turn price-cost positive into 2027. It expects residential roofing to be softer due to lower existing-home sales, while commercial roofing volumes stay resilient. Building Materials is expected to be price-cost positive in the fourth quarter.

Deals, savings and buybacks

The company completed its acquisition of Rapid Redi-Mix in Dallas-Fort Worth. Jenisch said recent acquisitions PB Materials and Rapid Redi-Mix are exceeding expectations and are expected to add to earnings per share this year. The ASPIRE cost program has delivered $73 million of savings year to date and is on track for $80 million in 2026.

Amrize said it completed its $1 billion share repurchase program on Oct. 28, representing about 4% of its share capital. It has returned $1.1 billion to shareholders in the first three quarters through buybacks and dividends.

The board declared a third-quarter dividend of $0.11 per share, payable Nov. 18, with Nov. 10 as the ex-dividend and record date.

Looking further out, Jenisch said trends such as data centers, energy projects, advanced manufacturing and infrastructure are expected to keep driving long-term construction demand.

Sources

1. Amrize Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 28, 2026 (accession 0002035989-26-000087)

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