Ferrovial posts strong 9M 2026 results, driven by North American strength

Ferrovial announced robust financial results for the first nine months of 2026, with operating performance bolstered by North American operations. Adjusted EBITDA rose 21.8% year-over-year to €1.21 billion, while revenue grew 10.8% to €7.4 billion. The Highways division led growth, posting a 14.7% LfL revenue increase to €1.1 billion and a 12.4% LfL EBITDA rise to €816 million.

U.S. Highways were particularly strong, contributing €800 million in adjusted EBITDA. U.S. Managed Lanes also saw double-digit revenue per transaction growth, outpacing U.S. inflation. In Canada, the 407 ETR experienced an 18.4% revenue increase and a 21% EBITDA rise despite traffic declines. The Construction division posted a 4.1% adjusted EBIT margin, the highest in the company's history, with a record order book valued at €19 billion.

North America made up 51% of this backlog. Ferrovial expanded its U.S. infrastructure presence, securing major contracts for Tennessee's I-24 Southeast Choice Lanes and Georgia's I-285 East Express Lanes. The company concluded the period with €5.1 billion in liquidity and a net cash position of €1.7 billion.