FirstGroup plc (FGP) Earnings Call Transcripts

FirstGroup plc's Latest Earnings Call - June 18, 2026

FirstGroup plc reported strong financial results for FY 2026, with group adjusted revenue increasing by 25% to over GBP 1.7 billion, driven by growth in First Bus revenues and the acquisition of First Bus London. Adjusted EPS rose by 5% to 20.3p, supported by a share buyback program. The company announced a full-year dividend of 7.2p per share, up 11% from the previous year. Management maintained guidance for adjusted EPS in FY 2027, despite the transition of National Rail Contracts to public ownership. A new GBP 100 million share buyback program was also announced.

Reported metrics

Guidance from management

Management expects to maintain adjusted EPS in FY 2027, with bus revenues projected to exceed GBP 1.5 billion. CapEx in First Bus will normalize to GBP 80-100 million by FY 2028.

What management said

When we set out the policy a number of years ago, we only started paying a dividend of full year 2022. It was not that long ago after being out of the dividend for more than a decade. We indicated at that time that the policy was going to be progressive in quantity and progressive in policy. So sort of a double factor for us to sort of to use. And we haven't moved away from that. Now we'd expect our dividend in ter...

Okay. Well, look, thank you very much. Any questions on the webcast? Okay. That's great. Well, look, thank you for your time today. It's much appreciated, and thanks for all the great questions, and we move forward. Thank you very much.

What analysts pressed on

Analysts expressed concerns about the impact of bus franchising on margins and the sustainability of passenger volume growth amid fluctuating fuel prices. Questions were also raised about the implications of the GBP 3 fare cap and the competitive landscape in open access rail.

Main topics on the call

• Revenue Growth — Group adjusted revenue grew by 25% to over GBP 1.7 billion, driven by First Bus and the acquisition of First Bus London. 'The successful execution of our U.K.-focused growth and diversification strategy has driven furthe...
• Earnings and Shareholder Returns — Adjusted EPS increased by 5% to 20.3p, aided by a share repurchase of 22 million shares. A full-year dividend of 7.2p per share was declared, an 11% increase. 'The Board has proposed a full year dividend of 7.2p per shar...
• Bus and Rail Operations — First Bus revenue grew to GBP 1.4 billion, with a 7% increase in adjusted operating profit. Rail open access revenues were up 3% despite increased competition. 'Bus adjusted operating profit of GBP 103 million was 7% up....
• Decarbonization and Sustainability — FirstGroup continues to lead in bus fleet electrification, with over 25% of the fleet now zero emission. 'We remain at the forefront of bus fleet and infrastructure electrification.'

Read the full FirstGroup plc transcript (June 18, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 17 FirstGroup plc earnings call transcripts on record, spanning March 11, 2020 to June 18, 2026. Based on this history, FirstGroup plc reports semi-annually. The most recent call on file is dated June 18, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

FGP

Exchange

LSE

Country

GB

Sector

Industrials

Industry

Ground Transportation

Calls on record

17

First call

March 11, 2020

Most recent

June 18, 2026

Reporting cadence

semi-annually