Loomis (OM:LOOMIS) Q3 Earnings Recast Its Record Margin Story

Loomis walked into its Q3 2026 report with the stock at SEK557 and a solid run behind it over the past quarter. The headline was blunt. The cash handler reported record revenue of SEK8,161m and basic earnings per share of SEK10.31, supported by the highest EBITA margin in its history.

That kind of profitability shift is the central development in the report. Short-term price moves will reflect emotion around how sustainable this margin profile appears. The numbers point to a market now reassessing what level of profitability it is willing to pay for.

Love Loomis’ record profit profile this quarter but unsure how to judge whether that margin strength is worth the current price tag? Compare it with other high quality balance sheet and cash generative stocks in our list of solid balance sheet and fundamentals stocks (199 results)

Q3 2026 Earnings Summary

• Revenue (Q3 2026 vs. Q3 2025): SEK 8,161m vs. SEK 7,644m (up 6.8%)
• Net Income (Excl. Extra Items, Q3 2026 vs. Q3 2025): SEK 690m vs. SEK 528m (up 30.7%)
• Basic EPS (Q3 2026 vs. Q3 2025): SEK 10.31 vs. SEK 7.80 (up 32.2%)
• EBITA Margin (Q3 2026): Approximately 15%, the highest margin level reported in Loomis history, compared with a rolling 12 month EBITA margin of 13.7%

Loomis just bought its biggest acquisition ever in Peru. Ask Charlie what Hermes could do to Loomis margins.

Loomis Margin Ambitions Meet Integration Reality

Loomis bulls have framed the story around scale, discipline and smart bolt ons rather than just cash volumes.

"The main thing that has to go right is for Loomis to successfully integrate and improve newly acquired operations such as Hermes and Transportadora del Interior while maintaining EBITA margins in the upper half of its 12% to 14% target range."

The latest quarter shows that profitability hurdle clearly met, with a roughly 15% EBITA margin and a rolling 12 month level of 13.7%. Latin America is already growing into a meaningful slice through Transportadora del Interior, while Hermes closed in October and is due to start contributing from Q4. As a result, the integration leg of the thesis is only just entering its measurable phase.

The price and this Narrative do not agree. → Uncover what this Narrative says Loomis is actually worth.

Loomis Bear Case: Cyclical Engines Still Unresolved

Bears argue Loomis is leaning too heavily on precious metals flows that could fade. The concern is clear.

"Any normalization in shipments could flatten revenue momentum and put pressure on the 13.2% operating margin reported for the quarter."

Q3 tells you that risk has not materialized yet. International revenue rose more than 25% and the group EBITA margin reached about 15%, a record level. Management still labels International cyclical and explicitly warns against extrapolating this strength, so the worry about shipment normalization is not disproved. It is simply postponed to later quarters.

Hunt For Mispriced Earnings Power

Loomis just showed how a stronger margin profile can change how investors evaluate its earnings power. The real opportunity is finding stocks that could be undervalued before sentiment and fundamentals shift investor expectations.

• Company 1 - 44% below our estimate - targets higher utilization from recent capacity expansions so more volume contributes to operating cash flow.
• Company 2 - 23% below our estimate - scales a higher margin rental platform that benefits from utility and critical infrastructure spending plans.
• Company 3 - 37% below our estimate - shifts its mix toward recurring consumables and workflow equipment so cost reductions increasingly support profitability.

That is three of the list. See the full list of 197 companies trading below our fair value estimates →

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