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(Sharecast News) - Engineering firm IMI lifted its fullyear earnings guidance on Thursday, raising its adjusted EPS range to 137p-143p after a strongerthanexpected contribution from Truflo Marine ahead of its disposal and firmer trading in its transport unit.
IMI said it remained on track to deliver a sixth consecutive year of midsingledigit organic revenue growth, with thirdquarter organic revenue up 2% against a tough comparator and statutory revenue rising 3% on FX.
The FTSE 100-listed firm highlighted doubledigit organic growth in its climate control division and a 19% jump in process automation order intake, although automation revenues dipped 3% overall in the quarter due to shipment timing. Life technology continued to outperform, with organic revenues up 11%, while transport delivered a 19% rise and now expected highsingledigit growth for 2026.
Chief executive Roy Twite said: "We delivered a good third quarter performance, against a very strong prior year comparator, with strong order intake in process automation and double-digit organic growth in climate control. We have increased our full year earnings guidance, principally reflecting the additional contribution from Truflo Marine ahead of its disposal. We remain on track to deliver our sixth consecutive year of mid-single-digit organic revenue growth.
"Our strategic focus on the megatrends of energy, automation and healthcare continues to create sustained demand across our markets. With a unique, market-led approach to innovation, significant recurring aftermarket revenue and strong pricing power, IMI is well placed to deliver continued growth."
IMI also reiterated guidance assumptions on interest, tax and share count, and said Middle East shipments remained in line with expectations.
As of 0845 GMT, IMI shares were up 0.21% at 2,910p.
Reporting by Iain Gilbert at Sharecast.com
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