Ibstock (IBST): Profit warning

What is happening

Ibstock: Profit warning – profit warning. ['profit warning']

In short

Ibstock guided in May to full-year results in line, then in August to the lower end of expectations. On 2 Nov 2026 it warned again: Q3 brick sales were 22% below expectations in a market down about 17%, output was cut about 20%, and FY adjusted EBITDA is now mid-£40m.

Announced

2 Nov 2026 · profit warning · -10% on the day

FY EBITDA

Adjusted EBITDA expected in the mid-£40 million range

Q3 sales

Brick sales 22% below expectations; market down about 17% in July-August

Production cut

Q3 output cut about 20% vs half-year plans

Absorption hit

About £6m reduction to adjusted EBITDA from lower fixed-cost absorption

Mitigation

Cost cuts on overheads and discretionary spend; focus on cash, inventory and capex

Next milestone

Nostell commissioning expected to complete by end of 2026

What comes next

Nostell commissioning complete by year end; FY results (4 Mar 2027).

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