Leonardo stock gains as orders lift 2026 outlook
Published on 11/05/2026 at 17:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSLeonardo reports stronger nine-month performance
- Leonardo raised its full-year order outlook after strong growth across its business sectors.
- The company said backlog expansion and improving cash generation support its production and delivery plans.
- Management will focus next on converting the enlarged backlog into deliveries and operating results.
Leonardo reported stronger nine-month operating results on Thursday, November 5, 2026, and raised its full-year order outlook. The company said new orders reached 23.3 billion euros in the first nine months, while the order backlog passed 60 billion euros for the first time.
Leonardo stock traded at 49.39 euros on Lang & Schwarz at 17:06 CET on Thursday, November 5, 2026. Investors can follow the real-time quote of Leonardo stock.
Orders and profitability accelerate
According to Leonardo's results release, revenue rose 14.2 percent year over year to 15.3 billion euros. EBITA increased 37.7 percent to 1.301 billion euros, lifting the operating margin to 8.5 percent. Adjusted net result advanced 74.2 percent to 812 million euros.
Free operating cash flow remained negative at 68 million euros but improved sharply from the comparable period. Leonardo said the figure would have been positive at 22 million euros before the consolidation of Iveco Defence Vehicles, acquired in March.
Order outlook moves higher
Leonardo raised its 2026 new-order guidance to approximately 29.5 billion euros from approximately 28.2 billion euros, including Iveco Defence Vehicles. The company maintained its other guidance targets: revenue of approximately 22.1 billion euros, EBITA of approximately 2.21 billion euros, free operating cash flow of approximately 1.37 billion euros and net debt of approximately 2.2 billion euros.
The enlarged backlog provides production coverage of more than 2.7 years, according to Leonardo. The main investor question now is how efficiently the group can convert that demand into deliveries, revenue and cash generation while integrating Iveco Defence Vehicles.
Leonardo stock facts
Leonardo company facts
- Company: Leonardo S.p.A.
- ISIN: IT0003856405
- Lang & Schwarz quote: 49.39 euros at 17:06 CET on November 5, 2026
- Nine-month revenue: 15.3 billion euros
- Nine-month EBITA: 1.301 billion euros
- Adjusted net result: 812 million euros
- 2026 order guidance: 29.5 billion euros
The broader Italian market remains relevant for investors following Leonardo through the FTSE MIB.
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