Ferrovial stock holds focus after 9M revenue rises 10.8%

Ferrovial reported stronger operating performance for the first nine months of 2026 on October 27, with growth led by North American highways and the Construction division. The companys release, carried by AP News, said like-for-like revenue increased 10.8% year over year to EUR 7.4 billion.

Adjusted EBITDA rose 21.8% on the same basis to EUR 1.2 billion. Adjusted EBIT advanced 24.2% to EUR 823 million, compared with EUR 691 million a year earlier. Ferrovial said the figures reflected solid performance in its U.S. Express Lanes and a strong contribution from Construction.

North America drives highway growth

The Highways division generated EUR 1.1 billion in revenue, up 14.7% like for like. Adjusted EBITDA increased 12.4% to EUR 816 million, while project dividends contributed EUR 524 million during the period.

Ferrovial said U.S. Express Lanes delivered robust revenue-per-transaction growth. The company also highlighted its Canadian 407 ETR asset, whose board approved a CAD 1.05 billion dividend distribution for the fourth quarter of 2026. The dividend supports cash generation, although the amount is tied to the infrastructure project and is not a direct measure of Ferrovials consolidated earnings.

Construction margin beats target

Construction achieved a 4.1% adjusted EBIT margin, above Ferrovials long-term average target of 3.5%. Its order book reached EUR 19 billion, an all-time high according to the release, with North America representing 51%, Poland 21% and Spain 15%.

Management also pointed to recent public-private partnership wins. A Ferrovial-led consortium reached commercial close on Tennessees I-24 Southeast Choice Lanes project in September, while another consortium secured the I-285 East Express Lanes project in Georgia on October 15. The company said these projects broaden its pipeline in U.S. managed lanes.

Cash position and project execution

Ferrovial ended the period with EUR 5.1 billion of liquidity and consolidated net cash of EUR 1.7 billion, excluding infrastructure projects. At New Terminal One at JFK airport, the project moved into systems integration, testing and commissioning after completing its first basic trials. By October 27, it had 32 airline agreements, including 24 executed contracts and eight letters of intent.

Ferrovial stock traded at EUR 50.89 on Lang & Schwarz at 10:30:14 CET on Monday, November 2, 2026. Investors can follow the real-time quote of Ferrovial stock.

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