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Swiss specialty chemicals company Sika saw its shares climb about 5% in premarket trading after reporting stronger-than-expected first-half 2026 earnings and raising its full-year sales growth forecast, driven by a sharp rebound in organic growth and improved pricing.
Sika posted first-half sales of 5.59 billion Swiss francs, up 1.5% year-over-year, surpassing market expectations. The performance was fueled by organic sales growth of 5.7%, a significant turnaround from the 0.2% organic declinerecorded in the first quarter and well ahead of analyst forecasts that had projected growth of less than 1%.
The company’s second-quarter performance reflected stronger momentum across both pricing and volumes. Pricing contributed roughly 3.5 percentage points to organic growth after being nearly flat in the previous quarter, while volume growth exceeded 2%, reversing a slight decline seen earlier this year. Analysts at Jefferies said the sequential improvement demonstrated healthier demand and improved pricing power across Sika’s business segments.
Profitability also exceeded expectations. First-half EBITDA reached 1.06 billion Swiss francs, approximately 4% above consensus estimates, according to Jefferies. Gross margin expanded by 70 basis points compared with the same period last year, while the EBITDA margin remained broadly stable despite ongoing cost pressures.
Following the stronger results, Sika raised its full-year sales growth guidance to 3%–6%, up from its previous forecast of 1%–4%. However, the company slightly lowered its EBITDA margin outlook to 19%–19.5%, compared with its earlier target of 19.5%–20%, reflecting a more cautious profitability outlook.
Jefferies analysts, led by Priyal Woolf, described the earnings update as reassuring. While the reduction in margin guidance had largely been anticipated by investors, they noted that the higher sales outlook was an unexpected positive. Consensus forecasts had previously been positioned near the lower end of the old guidance range, making the revised revenue outlook a stronger signal of improving business momentum.
The results reinforce confidence in Sika’s growth trajectory as the company continues benefiting from stronger pricing, rising volumes, and resilient demand across its global construction and industrial chemicals markets.
