Renishaw Delivers Q3 Growth Amid Strategic Adjustments and Tariff Headwinds
Renishaw has released its fiscal third-quarter results reporting continued revenue growth and reaffirming its strategic focus amid external pressures, including global tariffs and business restructuring.
Q3 Performance Surpasses Forecasts
For the three months ending March 31, 2025, Renishaw posted revenues of £180.7 million, a 5% year-on-year increase that outpaced the 3% growth achieved in the first half of the fiscal year. The figure also represents a 7.9% sequential rise from the £167.5 million reported in the preceding quarter, supported by what the company described as a ‘solid’ order intake.
Renishaw attributed the growth to robust demand in several key sectors. Sales of machine tool probes to consumer electronics customers saw healthy growth, and position encoders for semiconductor equipment builders also performed strongly. Meanwhile, revenues from coordinate measuring machines and gauging systems remained stable.
Nine-Month Results and Updated Forecast
For the nine months ended March 31, group revenue rose 3.8% to £522.1 million from £502.9 million the previous year. Pretax profit slipped slightly by 1.4% year-on-year to £85.6 million from £86.8 million.
As a result of recent performance, Renishaw modestly revised its annual guidance. Revenue is now expected in the range of £700 million to £720 million, slightly raising the lower end from the previous range of £695 million to £735 million. The adjusted pretax profit forecast was also refined to between £109 million and £127 million, from the previous £105 million to £135 million guidance.
Strategic Shifts and Tariff Impacts
Renishaw continues to respond proactively to a challenging external environment. A significant concern remains the impact of tariffs on exports to the U.S., which make up roughly 20% of the company’s global revenues. To mitigate the cost pressures, Renishaw is implementing surcharges where appropriate. “We continue to assess the potential global impacts of these tariffs on an ongoing basis,” the company stated.
As part of ongoing operational optimization, Renishaw confirmed it is closing the loss-making drug delivery operations within its Neurological business. This move is expected to increase group operating profit by £3 million annually. However, exceptional closure costs of £1.9 million were recognized in Q3, with a further £1 million anticipated in the next six months.
Momentum Into Final Quarter
Despite the ‘volatile economic backdrop,’ Renishaw remains confident heading into the final quarter of its fiscal year. The company emphasized its ‘good momentum’ supported by steady demand across its core industrial segments. With sustained growth in high-precision metrology solutions and focused restructuring to boost profitability, Renishaw is positioning itself for a more resilient and strategically aligned future.
For more information: www.renishaw.com
