Andritz shares fell over 5% after the Austrian engineering group reported fourth-quarter results that disappointed investors due to weaker-than-expected cash flow and guidance suggesting potential earnings cuts. The company reported revenue of €2.35 billion, up 3% year-on-year, and adjusted EBITA of €227.6 million (9.7% margin), both slightly below analyst expectations. Net income was €153.4 million. JPMorgan analysts noted reported EBITA was €199.6 million, hurt by restructuring costs, and operating cash flow of €339 million lagged estimates.

Order intake dropped 21% year-on-year. For 2026, Andritz maintained its revenue guidance of €8.0-8.3 billion (midpoint ~3% growth) and an adjusted EBITA margin of 8.7-9.1%, but analysts see the €9-10 billion 2027 target as "ambitious" based on current trends. The stock weakness is seen as near-term due to cash flow concerns.