Gerresheimer stock posts 8% Q3 growth as margins narrow

Published on 11/03/2026 at 12:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Gerresheimer stock benefited from stronger drug-delivery demand in the third quarter. Management expects a stronger final quarter and kept its outlook.

Growth Meets Margin Pressure

Gerresheimer's preliminary third-quarter revenue rose on stronger demand for drug delivery devices.
Inventory reductions and weaker Tubular Glass Europe and Moulded Glass performance weighed on nine-month earnings.
The company expects a stronger fourth quarter and plans to publish final third-quarter figures in December.

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Gerresheimer released preliminary results for the third quarter and first nine months of 2026 on Friday, October 30. The pharmaceutical packaging group said quarterly revenue rose 8% year over year to EUR 605 million, while adjusted EBITDA reached EUR 103 million compared with EUR 106 million in the adjusted prior-year period.

Profitability remained the main constraint. The adjusted EBITDA margin fell to 17.1% from 19.0% a year earlier. For the first nine months, revenue stood at EUR 1.7 billion, broadly level with the adjusted prior-year period, while adjusted EBITDA declined to EUR 272 million from EUR 331 million. The company attributed the shortfall to inventory reductions and weaker performance in Tubular Glass Europe and Moulded Glass.

Drug Delivery Drives Quarterly Growth

Containment & Delivery Systems was the strongest contributor to the quarter. Revenue increased to EUR 313 million from EUR 286 million, while adjusted EBITDA rose to EUR 77 million from EUR 64 million. Its adjusted EBITDA margin improved to 24.5% from 22.3%, supported by higher demand for drug delivery devices and the ramp-up of expanded production capacity.

Primary Injectable Solutions generated EUR 123 million in quarterly revenue, up from EUR 114 million. Adjusted EBITDA fell to EUR 15 million from EUR 19 million, although the company described the business as stabilized in the quarter. The division's margin was 12.5%, compared with 16.8% in the adjusted prior-year quarter, as weaker Tubular Glass profitability continued to weigh on results.

Moulded Glass revenue rose to EUR 169 million from EUR 165 million, but adjusted EBITDA dropped to EUR 17 million from EUR 29 million. Its margin narrowed to 10.2% from 17.4%. Gerresheimer said inventory reductions linked to cash management lowered capacity utilization, while measures under its transformation program are intended to improve performance. The company also said its Chicago Heights plant in the United States was closed in September.

Stronger Fourth Quarter Expected

Gerresheimer expects a stronger fourth quarter with further earnings improvement, in line with its existing guidance. The company said the next operational milestones include completing the sale of its Primary Packaging Plastics business and a comprehensive refinancing. Closing of the plastics transaction is currently expected in the first quarter of 2027 after the successful completion of the Centor sale.

Chief Financial Officer Wolf Lehmann said the combination of quarterly revenue growth, stable adjusted EBITDA and the improved financial position after the Centor sale showed progress in the transformation. The company's official announcement said final third-quarter and nine-month figures are expected in December 2026.

Gerresheimer stock traded at 32.58 euros on Lang & Schwarz at 12:34 CET on Tuesday, November 3, 0.12 percent below the Xetra close of Monday, November 2. Investors can follow the real-time quote of Gerresheimer stock.