IMI revenue boosted by Process Automation and Climate Control growth

IMI PLC on Thursday nudged up full-year earnings guidance as it reported modest sales growth in the third quarter.

The Birmingham-based engineering firm now expects 2026 adjusted basic earnings per share to be between 137 pence and 143p, raised slightly from a range of 136p and 142p previously.

In 2025, IMI reported adjusted basic earnings per share of 132.3p.

This principally reflects an additional contribution from Truflo Marine, the disposal of which is now expected to complete in the fourth quarter of 2026 instead of the third, as well as stronger growth in Transport, it said.

IMI said third quarter revenue was up 3% from a year ago, or 2% on an organic basis. Year-to-date organic growth is 4%, it added.

Automation, which made up 65% of 2025 sales, organic revenue was 3% lower in the third quarter from a year ago, and 2% higher year to date. Within this, Process Automation organic order intake was 19% higher in the third quarter and 14% higher year to date.

Life Technology, which contributed 35% of 2025 sales, organic revenue was 11% higher in the third quarter and is 7% higher year to date. Within this Climate Control organic revenue was 13% higher in the third quarter and is 7% higher year to date.

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."

IMI said year-to-date shipments to the Middle East are in line with the expectations set out at first quarter trading, and guidance continues to assume that conditions allow for planned shipments to be delivered by the end of the financial year.

Shares in IMI were up 0.7% at 2,924.00 pence each in London on Thursday morning.

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