Analyst Consensus ?
ConsensusHold4 ratings
Bullish00.0%
Neutral4100.0%
Bearish00.0%
Ferrovial N.V. · FER · FY2025 Q2 · Calendar Q3 2025
Ferrovial’s H1 2025 growth is led by North American highways and 407 ETR
The supplied analysis describes a strong first half, led by North American highways and 407 ETR, with construction backlog and airport development providing additional activity. Whether this momentum persists depends on traffic, pricing, project execution and cost control; the supplied analysis does not provide formal guidance.
Reported After market closeNASDAQIndustrials
$41.21B market cap
70quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.44
Consensus —
EPS surprise
—
Reported versus consensus
Reported revenue
$2.63B
Consensus $2.52B
Revenue surprise
+4.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.9%
Event window
SPY move
-0.3%
Same window
Abnormal move
+1.1%
Stock minus SPY
Volume
0.9×
Versus trailing sessions
Subsequent drift
+3.9%
Up to 20 sessions
FERSPY benchmark
Ask FN2 about FER FY2025 Q2
Transcript, numbers and history already loaded
What drove FER's +0.9% move after FY2025 Q2 earnings?What changed in FER's guidance and outlook in FY2025 Q2?Give me the bull and bear case for FER after FY2025 Q2 earnings.
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Transcript intelligence
What changed
The current-quarter analysis highlights a 5.06% additional stake in 407 ETR, a lower Schedule 22 provision in Q2 despite higher revenues, and negative net debt of €223 million excluding infrastructure. A prior-quarter analysis was not supplied, so quarter-over-quarter changes cannot be assessed.
Guidance delta
No formal guidance sentiment was provided in the transcript analysis; no guidance change can be established from the supplied material.
Key takeaways
- North American highways and 407 ETR led revenue and EBITDA growth, with double-digit EBITDA increases cited in the analysis.
- The construction order book was reported at a record €17.3 billion.
- New Terminal One at JFK was described as on schedule and on budget; €1.4 billion of green bonds were issued for refinancing.
- Airport divestments generated cash and reduced debt, while shareholder distributions remained a stated priority.
Management priorities
- Continue investment in 407 ETR and pursue further stake increases.
- Pursue additional U.S. managed-lane concessions, including the stated I-24 and I-285 bids.
- Complete New Terminal One at JFK by mid-2026, as stated in the analysis.
- Maintain the stated dividend policy targeting €2.2 billion over 2024–2026.
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Estimate
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Miss
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Analyst 52W Price Targets
$58.05Current
$70.93Low
$70.93Average
$70.93High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Overweight | Downgrade | Oct 6, 2026 |
| UBS | Neutral | Buy | Downgrade | Aug 26, 2026 |
| Citigroup | Neutral | Buy | Downgrade | May 27, 2026 |
| Jefferies | Hold | Buy | Downgrade | Mar 9, 2026 |
Named analyst price targets
Upside is calculated against the persisted current price $58.05. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $70.93 | $66.16 | +22.2% | Mar 8, 2026 |
Track every rating change on FER the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFerrovial SE, a global entity operating through its various subsidiaries, specializes in the entire lifecycle management of transport infrastructure and urban services, encompassing their design, construction, financing, operation, and ongoing maintenance. Its diverse operations are organized into four primary divisions: Construction, Toll Roads, Airports, and Energy Infrastructures and Mobility. In the Construction division, the firm undertakes the planning and execution of a wide array of public and private projects, notably including public infrastructure development.…
Historical context
All FER earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RYAAY Ryanair Holdings plc | FY2027 Q2 · Calendar Q4 2026 | -0.3% | +2.9% | Ryanair flags fuel-cost pressure while maintaining growth plans |
| BWXT BWX Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.8% | -0.2% | BWXT: Q3 growth and raised cash-flow outlook reinforce nuclear expansion |
| GD General Dynamics Corporation | FY2026 Q3 · Calendar Q4 2026 | +9.0% | +0.5% | General Dynamics raises outlook as orders and backlog surge |
| RBC RBC Bearings Incorporated | FY2027 Q2 · Calendar Q4 2026 | +5.9% | -6.8% | RBC Bearings: Strong Q2, capacity investment supports second half |
| CNI Canadian National Railway Company | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -0.3% | CN posts strong Q3, maintains EPS outlook and expands Mexico strategy |
| NVT nVent Electric plc | FY2026 Q3 · Calendar Q4 2026 | +8.6% | -8.8% | nVent raises outlook as data-center demand and Maverick broaden growth |
Latest beats and misses
Who reports nextBeat on EPS
- TSEMFY2026 Q3 · November 2, 2026+7.5% EPS-6.7% move
- CLXFY2027 Q1 · November 2, 2026+44.9% EPS+2.2% move
- AAPLFY2026 Q4 · November 2, 2026+3.0% EPS-1.8% move
- PLTRFY2026 Q3 · November 2, 2026+8.3% EPS-3.1% move
- ETRFY2026 Q3 · November 2, 2026+14.5% EPS-0.2% move
- OFY2026 Q3 · November 2, 2026+5.7% EPS+1.1% move
Missed on EPS
- VRTXFY2026 Q3 · November 2, 2026-1.2% EPS-1.0% move
- PEGFY2026 Q3 · November 2, 2026-3.4% EPS+0.1% move
- RYAAYFY2027 Q2 · November 2, 2026-0.3% EPS+2.9% move
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
Get the FER recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-11-03T14:20:44.968966+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T14:20:44.966203+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.