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IMI Lifts EPS Guidance on Truflo Earnings, Q3 Growth Slows to 2%

IMI has lifted full-year adjusted EPS guidance by 1p at each end to 137p–143p, mainly on extra Truflo Marine earnings ahead of its sale, as third-quarter organic revenue growth slowed to 2% against 12% a year earlier.

IMI plc (LON: IMI) has raised its full-year adjusted earnings per share guidance by 1p at each end, to 137p–143p. The FTSE 100 valve and actuator maker said it remains on track for a sixth consecutive year of mid-single-digit organic revenue growth.

IMI shares stood at 2,914p at 08:48 today, up 0.34% from yesterday’s close of 2,904p. The third-quarter trading update was released at 7am, before the market opened.

IMI.LSE

Guidance for adjusted basic EPS was previously 136p–142p. The increase mainly reflects extra earnings from Truflo Marine, whose disposal is now expected to complete in the fourth quarter of 2026 rather than the third, and stronger growth in Transport. Chief Executive Roy Twite said:

We have increased our full year earnings guidance, principally reflecting the additional contribution from Truflo Marine ahead of its disposal.

Roy Twite, Chief Executive, IMI plc

Group organic revenue rose 2% in the third quarter, against 12% in the same quarter of 2025, and is up 4% year to date. Statutory revenue rose 3%, helped by currency. Automation, 65% of 2025 sales, fell 3%, while Life Technology rose 11%.

Within Automation, Process Automation orders rose 19%, excluding Truflo Marine, but revenue fell 6% on shipment timing, against growth of 26% a year earlier.

Bar chart of IMI organic revenue growth by division in the third quarter of 2026, from Transport at plus 19% to Process Automation at minus 6%.
IMI organic revenue growth by division, third quarter 2026. Source: IMI plc trading update

Climate Control grew 13%, on demand for energy-efficient products and the timing of data centre shipments. Data centre orders total £25m so far this year, against £9m a year earlier. Transport grew 19% as the global heavy-duty truck market continued to recover, and IMI now expects high-single-digit organic growth there in 2026, up from mid-single-digit. A strategic review of Transport is ongoing.

The guidance assumes conditions allow planned Middle East shipments to be delivered by the year end. IMI reports full-year results on 9 March 2027, when it will give full 2027 guidance.

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