Keller Group plc (LSE:KLR) has raised its outlook for 2026 ahead of publishing its interim results, citing stronger-than-expected trading across the business, led by exceptional performance in North America. Demand for infrastructure and data centre projects in the United States and Canada has continued to accelerate, driving record activity levels and offsetting weaker conditions in the south Florida residential market.
The group’s Europe and Middle East division also delivered a solid performance, with strong trading in Scandinavia, Central Europe and the Middle East compensating for softer markets in western Europe. In Asia Pacific, trading remained broadly in line with expectations as strong results from Austral balanced pricing pressures affecting the Australian foundations business. Supported by robust tendering activity and a record order book of approximately £1.9 billion, the Board now expects both full-year revenue and underlying operating profit for 2026 to come in materially ahead of current market forecasts, reflecting confidence in the group’s growth strategy and long-term prospects.
Keller’s outlook continues to be supported by improving financial performance and an attractive valuation, with a relatively low price-to-earnings ratio. Recent management commentary has also highlighted strong free cash flow generation, a net cash balance sheet and enhanced returns to shareholders. Technical indicators remain positive, although elevated RSI and stochastic readings suggest the shares could be vulnerable to a short-term pullback after their recent gains.
More about Keller Group plc
Keller Group plc is the world’s largest geotechnical engineering contractor, specialising in advanced foundation engineering and ground improvement solutions for the global construction industry. The company employs around 10,000 people across five continents and completes approximately 5,500 projects each year, generating annual revenue of around £3 billion from infrastructure, commercial and large-scale construction developments.
North America is Keller’s largest market, contributing around 60% of group revenue, with continued investment in infrastructure and data centre construction providing significant growth opportunities. The company’s diversified international operations and expertise in complex engineering projects underpin its long-term strategy for sustainable growth in geotechnical services.
Leave a Reply