Keller Group plc (LSE:KLR) said trading during the opening four months of 2026 was ahead of the prior year and in line with internal expectations, supported by particularly strong performance from its North American foundations business.
The company stated that rising energy and material costs linked to broader macroeconomic pressures have been successfully offset through pricing measures on both new and existing contracts. Management said this supports confidence that recent operational and financial improvements can be maintained.
Order book growth and shareholder returns
Keller’s order book increased to approximately £1.7 billion by the end of April, with strong tendering activity providing good visibility across all divisions of the business.
The group also expanded its capital return programme, announcing a new £100 million share buyback after completing a previous £50 million repurchase scheme.
At the same time, Keller maintained low leverage levels, with net debt to EBITDA expected to stand at around 0.2x by mid-year, reinforcing the company’s balance sheet strength and financial flexibility.
Outlook and market considerations
Keller Group’s outlook is supported by improving financial performance, strong cash generation and comparatively attractive valuation metrics, including a relatively low price-to-earnings ratio.
Management commentary from the latest earnings update also highlighted strong free cash flow, a net cash position and enhanced shareholder return initiatives as positive drivers for investor sentiment.
Technical indicators remain supportive, reflecting a sustained upward trend in the share price, although elevated RSI and stochastic readings suggest the possibility of short-term market pullbacks.
More about Keller Group
Keller Group plc is the world’s largest geotechnical specialist contractor, providing foundation engineering and ground improvement solutions for construction and infrastructure projects globally.
The company employs around 10,000 people across five continents and delivers approximately 5,500 projects each year, generating roughly £3 billion in annual revenue from a diversified international portfolio of infrastructure and building works.
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