8th Sep 2026 12:43
(Alliance News) - Somero Enterprises Inc on Tuesday increased its revenue guidance for the full year, after reporting double-digit top- and bottom-line growth in its interim results.
In response, the stock was 8.4% higher at 260.04 pence on Tuesday afternoon in London.
The Fort Myers, Florida-based concrete-levelling machinery firm's pretax profit was USD9.1 million for the first half of 2026, up 86% from USD4.9 million the year before.
Revenue jumped 22% to USD48.7 million from USD39.8 million, in a return to growth "as market conditions continued to stabilise and customer activity increased". Somero noted "significant revenue increases" from certain products, with 33% growth for Boomed screeds, 45% for Ride-on screeds and a 55% hike for the 3-D Profiler System.
Adjusted earnings before interest, tax, depreciation and amortisation climbed 59% to USD10.1 million from USD6.4 million. The figure comprises Somero's net income plus tax provision, interest expenses, interest income, foreign exchange loss, other expenses, depreciation, amortisation, stock-based compensation and non-cash lease expenses.
Somero declared an interim dividend of 5 US cents per share, up 25% from 4 cents the year before.
Its cash and equivalents totalled USD29.6 million at June 30, down from USD33.2 million at December 31.
"We are pleased with Somero's performance in the first half, which reflects the continued stabilisation of our core markets and the progress we are making against our strategic priorities," commented Chief Executive Tim Averkamp. "What is particularly encouraging is the breadth of the improvement.
"Growth was supported by stronger activity across our markets, increased customer acquisition and good traction from recent product introductions. This gives us confidence that the investments we have made in innovation, commercial execution, and customer support are strengthening the business and expanding our growth opportunities."
Looking ahead, Somero increased its full-year revenue guidance to approximately USD95 million. It also expects adjusted Ebitda of approximately USD19.5 million and net cash of approximately USD29 million at December 31.
"Customer activity remains healthy and project backlogs continue to provide good visibility, supporting our decision to increase full-year revenue guidance," Averkamp said. "While we remain mindful of the wider macroeconomic environment, Somero enters the second half with positive momentum, a strong balance sheet and a clear focus on delivering sustainable long-term growth."
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Somero