Ferrovial N.V. (FER) Earnings Call Transcripts

Ferrovial N.V.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Ferrovial N.V. reported a solid performance with revenue growth of 10.2% year-over-year, reaching EUR 1.2 billion in net cash. Adjusted EBITDA increased by 15%, driven by strong growth in North American highways and the 407 ETR asset. Management maintained a positive outlook, with a CAD 500 million dividend approved for the second quarter, indicating confidence in cash flow generation despite ongoing construction challenges.

Reported metrics

Guidance from management

Management maintained a positive outlook, expecting continued growth in the construction order book and cash flow generation. They indicated that the dividend policy will be aligned with growth expectations.

What management said

Yes. And the pipeline -- well, the pipeline, the -- I mean, what I can say is that in general, there's more support for P3s. We'll see how that materializes, accelerates. But yes, the background is better. I think that really Tennessee and Atlanta are bringing some projects that others are watching. And the fact that you can ease pressure on government or state finances with a much needed infrastructure through P3 is...

I mean not really that we could differentiate. There's always some slight negative elasticity. Really, that sometimes happens with an economy that is performing and they turn to wash out. So far, the economies where we operate have been okay. So we will have to see if this lingers, I mean, how it could affect. But I mean, nothing that we can really highlight in the first quarter.

What analysts pressed on

Analysts expressed concerns about the impact of rising fuel prices on traffic volumes and the potential delays in construction timelines affecting revenue. There were also questions regarding the sustainability of traffic growth amid ongoing promotions.

Main topics on the call

• Revenue Growth — Ferrovial achieved a revenue increase of 10.2% year-over-year, supported by strong performance in North American highways and the 407 ETR. Management stated, "the first quarter was a solid start to the year with strong g...
• Adjusted EBITDA Performance — Adjusted EBITDA rose by 15% year-over-year, reflecting effective cost management and revenue growth strategies. The CFO noted, "EBITDA increased by 25.4% versus the first quarter of 2025" for the 407 ETR, highlighting it...
• Traffic Performance — Traffic on the 407 ETR increased by 8.2%, driven by targeted promotions and higher mobility. However, adverse winter weather partially offset these gains, as noted in the call, "this was partially offset by unfavorable w...
• Dividend Announcement — The Board approved a CAD 500 million dividend to be paid in Q2 2026, signaling strong cash flow confidence. Management emphasized, "the 407 had a higher dividend, both related to performance and better financing."

Read the full Ferrovial N.V. 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 37 Ferrovial N.V. earnings call transcripts on record, spanning January 29, 2020 to July 29, 2026. Based on this history, Ferrovial N.V. reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

FER

Exchange

BME

Country

ES

Sector

Industrials

Industry

Construction and Engineering

Calls on record

37

First call

January 29, 2020

Most recent

July 29, 2026

Reporting cadence

quarterly