Bureau Veritas kept its 2026 targets after reporting €1,569.7 million in third-quarter revenue, above analyst expectations, as organic growth improved on its revised reporting basis.
Revenue exceeded the €1,553.9 million analyst consensus published by Bureau Veritas on Oct. 13. That compilation included eight revenue estimates. Sales rose 10.1% from the comparable quarter a year earlier under the company’s new presentation.
Organic growth reached 6.2%, ahead of the 6.0% consensus estimate and up from 5.9% in the second quarter on the same basis. The measure excludes the effects of changes in business scope and exchange rates.
The company maintained its forecast for organic revenue growth in the mid-to-high single digits this year. It also expects a higher adjusted operating margin with exchange rates held constant and strong cash generation. Bureau Veritas raised its organic-growth target from mid-single digits in July. The latest revenue update gave no numerical margin or cash-flow targets.
Buildings & Infrastructure had the fastest organic growth among the four divisions at 7.9%. Product Testing & Services followed at 7.0%, with Industrials & Commodities at 5.1% and Business Assurance at 3.2%.
Acquisitions added 2.7 percentage points to third-quarter revenue growth, while disposals took away 0.9 points. Currency movements contributed another 2.1 points, largely reflecting a stronger dollar against the euro.
For the first nine months of 2026, revenue totaled €4,513.8 million, a 4.9% increase on the new basis. Organic growth for the period was 5.7%.
The comparison with last year reflects a reporting change that took effect July 1, 2026. Bureau Veritas now reports through four divisions and excludes businesses marked for exit in Oil & Petrochemicals, Coal Testing and Inspection, and “Government Services.” Its latest release uses €1,425.2 million as the third-quarter 2025 comparison, while the release issued in 2025 reported €1,583.7 million for that quarter. The releases use different presentations and do not reconcile the two figures.
Bureau Veritas said it had repurchased 2.5 million shares for €68 million under its €200 million buyback program as of Oct. 19. Its next scheduled full-year results are due Feb. 25, 2027, before the market opens.
