Rheinmetall AG (RHMd)

Rheinmetall beat expectations on both the top and bottom line in the second fiscal quarter of 2026, reported August 6, as adjusted EPS of EUR 6.23 topped the EUR 5.99 estimate (+4.0%) and revenue of EUR 3.289 billion topped the EUR 3.210 billion estimate (+2.5%). Revenue rose 35.3% to about EUR 3.3 billion (up from EUR 2.430 billion a year ago), while operating profitability translated into operating income of roughly EUR 475.0 million and an operating margin of about 14%. Net income fell 5.3% to around EUR 124.0 million (down from EUR 131.0 million a year ago). Cash generation was pressured, with negative operating cash flow of about EUR 1.1 billion. For the next period, consensus calls for EPS of EUR 6.89 on revenue of EUR 3.154 billion.