Alstom SA

ALO: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Alstom Earnings: Operational Milestones Support Guidance as Execution Risk Persists

Loredana Muharremi

Jul 23, 2026

Alstom’s fiscal first-quarter sales rose 4.9% to EUR 4.73 billion, while orders fell 37% to EUR 2.56 billion. TGV-M received final authorization and management maintained its 5% sales growth, 6.5% adjusted EBIT margin, and positive free cash flow guidance.

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Alstom SA

Alstom Earnings: Operational Milestones Support Guidance as Execution Risk Persists

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