Vestas lifts 2026 margin guidance after Q2 profit exceeds estimates

Vestas Wind Systems A/S raised its 2026 margin guidance on Tuesday after reporting second-quarter profit that surpassed analyst expectations.

The Danish wind turbine manufacturer now expects adjusted EBIT margins for 2026 to exceed its previous target range of 8-10%, without specifying a new figure. The company’s adjusted EBIT margin for the second quarter was 6.9%, up from 4.7% in the same period last year.

Vestas reported net profit of €166 million ($184 million) for Q2, compared with a €30 million loss in the prior-year period. Revenue rose 22% year-over-year to €3.8 billion, driven by higher service activity and turbine deliveries.

Analysts had forecast a net profit of €143 million and revenue of €3.6 billion, according to a Reuters poll. The company attributed its outperformance to improved operational efficiency and stronger demand in key markets.

Shares in Vestas gained 4.5% in Copenhagen trading following the results. The company maintained its full-year guidance for 2024, reaffirming expectations for adjusted EBIT margins of 5-7% and revenue of €16-18 billion.

Vestas Chief Executive Henrik Andersen said the company remains on track to meet its long-term financial targets despite near-term challenges in the wind energy sector. "We are seeing steady progress in our operational turnaround and expect this momentum to continue," Andersen said in a statement.

The company’s updated 2026 margin outlook reflects confidence in its ability to scale production and reduce costs as it ramps up deliveries of its new V236-15.0 MW turbine model.