Renishaw Reports Steady Start to FY2026 Amid Mixed Global Market Conditions
Renishaw plc has reported a stable start to its FY2026 financial year, with first-quarter revenue showing 2.8% growth at constant exchange rates, though 1.8% lower at actual rates, totaling £170.8 million ($227.2 million). The company’s order book strengthened through the quarter, supported by positive market reception to several major new product launches.
Industrial Metrology Leads Performance
Revenue in the Industrial Metrology segment grew 3.4% at constant currency, driven by robust demand for 5-axis CMM systems and shop-floor gauging solutions, as well as steady performance in machine calibration systems. Weaker sales of metrology sensors to machine tool and CMM builders, particularly in EMEA, partially offset these gains.
The Position Measurement business saw 2.2% growth at constant exchange rates, bolstered by strong sales of open optical encoders and rising demand for enclosed encoder systems used in machine tools. Renishaw’s newly launched ASTRiA inductive encoder has attracted early interest across key industries, including the defense sector.
Specialised Technologies revenue increased by 1.0%, with higher metal additive manufacturing (AM) sales offset by lower spectroscopy revenues, though the order book has improved.
Regional Business Trends
- APAC led growth with a 14.7% increase at constant exchange rates, buoyed by rising demand from the semiconductor and consumer electronics industries.
- Americas posted 11.2% growth, benefiting from surcharges to offset tariffs and underlying strength in CMM, AM, and PM product lines.
- EMEA, however, declined 20.5%, affected by weak demand for industrial metrology sensors, lower laser encoder sales, and ERP system transitions during the quarter.
Strategic Progress and Cost Efficiency
Renishaw’s recent product launches at EMO 2025, including the Equator-X dual method shopfloor gauge, MODUS IM Equator software, XK20 alignment laser system, and NC4+ Blue laser tool setter, received strong customer feedback, with production now ramping up to meet early demand.
The company has completed its £20 million cost reduction program, reducing headcount by 6.5% since FY2025 while advancing internal productivity initiatives. Additionally, the closure of the non-core neurological drug delivery business remains on track for completion in Q2 FY2026.
Renishaw reports that FY2026 is progressing as expected, supported by ‘structural growth drivers’ across its markets. Despite global uncertainties, the company anticipates steady revenue growth for the full year.
For more information: www.renishaw.com
