Ferrovial NV

FER: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Ferrovial Earnings: Traffic Weakness Unsurprising, Given Fuel Prices; Shares Undervalued

Jack Fletcher-Price

Oct 28, 2026

Ferrovial reported mixed third-quarter results, as strength in construction offset some traffic weakness in the concession portfolio. The group provided additional disclosures on the I-24 and I-285E awards, which was important, given that the uncertainty has been an overhang on the shares.

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Ferrovial NV

Ferrovial Earnings: Traffic Weakness Unsurprising, Given Fuel Prices; Shares Undervalued

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