Bechtle, the German IT services provider, reported a record fourth quarter, but shares tumbled 6% due to a warning about potential supply constraints in 2026. The company's fourth-quarter earnings before tax rose 20% to €121 million, its highest quarterly result ever. Business volume also saw a strong jump, increasing 16% between October and December.

For the full year, business volume grew approximately 8% to €8.60 billion, while revenue rose 2% to €6.40 billion. The company's CEO, Thomas Olemotz, cautioned that anticipated price increases from manufacturers and potential supply issues could impact performance. This warning overshadowed the positive financial results, causing investor concern.

Bechtle's strong performance was partially fueled by accelerated orders ahead of rising PC and laptop prices. The company's supervisory board extended Konstantin Ebert's term, who will succeed Olemotz as CEO in 2027. Jefferies expects conservative 2026 guidance, while current consensus forecasts anticipate higher sales growth.

Investors are now focused on Bechtle's ability to navigate potential supply chain disruptions. The IT services sector is sensitive to component availability, and any constraints could impact the company's growth trajectory. The market will be watching the company's audited results release in March for more detailed 2026 guidance.