Arms Maker Rheinmetall Cuts Outlook Again After Procurement Delays — Update

By Mauro Orru

Rheinmetall slashed its guidance for the second time this year as the German defense group faces procurement delays.

The company said it expected annual sales of roughly 13.2 billion euros in 2026, equivalent to $14.77 billion, below a prior guidance range of 13.7 billion to 14.2 billion euros. Meanwhile, its operating margin should come in at about 18.5% for the year, below a prior forecast of around 19%.

Rheinmetall said it had been forced to lower its guidance due to potential delays in the procurement of Boxer combat vehicles as well as artillery ammunition contracts.

The company lowered its sales forecasts in August after Germany scrapped a project to procure what could have been the country's biggest class of warship since the end of World War II.

Rheinmetall said sales grew to 3.15 billion euros in the third quarter from 2.31 billion euros a year earlier, below analysts' forecast of 3.25 billion euros, according to Vara Research.

Operating profit grew to 553 million euros in the third quarter versus 342 million euros, generating an operating margin of 17.5%. Analysts had forecast an operating profit of 531.4 million euros and an operating margin of 16.3%, according to the consensus.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

November 04, 2026 12:33 ET (17:33 GMT)