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IMI plc (IMIUY) Q1 2026 Earnings Call Transcript
2026-05-12 · via All Articles on Seeking Alpha

IMI plc (IMIUY) Q1 2026 Earnings Call May 12, 2026 3:00 AM EDT

Company Participants

Roy Twite - CEO & Director
Luke Grant - CFO & Executive Director

Conference Call Participants

Chitrita Sinha
Christian Hinderaker - Goldman Sachs Group, Inc., Research Division
Stephan Klepp - BNP Paribas, Research Division
Jonathan Hurn - Barclays Bank PLC, Research Division
Kulwinder Rajpal - AlphaValue SA
Lacie Midgley
Richard Paige - Deutsche Bank AG, Research Division

Presentation

Operator

Good morning, everyone, and thank you for joining us on today's IMI plc Q1 Trading Update. My name is Drew, and I'll be the operator on the call today. [Operator Instructions] With that, it's my pleasure to hand over to Roy Twite, CEO, to begin. Please go ahead when you're ready.

Roy Twite
CEO & Director

Good morning, everybody, and welcome to IMI's First Quarter Trading Update. I'm joined here today by our CFO, Luke Grant. We have made a good start to the year, delivering organic growth across IMI in the first quarter. This performance reflects the strength of the One IMI operating model, our strategic focus on 3 megatrends: Energy, Automation and Healthcare, and the continued efforts from all of our people globally. We are pleased to reconfirm our full-year guidance. We remain firmly on track to deliver our sixth consecutive year of mid-single-digit organic revenue growth in 2026.

And we continue to expect that full year adjusted EPS will be between 136p and 142p. Process Automation delivered strong revenue growth. As expected, order intake was slightly lower year-on-year against a strong Q1 comparator, particularly in the aftermarket, where we grew 19% organically in the first quarter of last year, driven by several large nuclear orders that we previously announced. Industrial Automation performed in line with expectations, benefiting from an easier comparator following the cyber incident in the first quarter of last year. Climate Control continues to perform well, supported