# Ferrovial Q3 2026 Earnings: Record Order Book and U.S. Highway Growth

> Ferrovial reports record EUR 19 billion construction order book and double-digit highway revenue growth in Q3 2026.
- Title: Ferrovial Q3 2026 Earnings: Record Order Book and U.S…
- Summary: Ferrovial reports record EUR 19 billion construction order book and double-digit highway revenue growth in Q3 2026. Ferrovial's Q3 2026 earnings show 18.4%…
- Keywords: ferrovial, q3 2026, construction order book, highway revenue, i-285 east, managed lanes, toll rates, concession payments, us highways, construction, finance, money
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/28/ferrovial-fer-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-28T21:38:46+00:00
- Read time: 2 min
- Topics: ferrovial, q3 2026, construction order book, highway revenue, i-285 east, managed lanes, toll rates, concession payments, us highways, construction, finance, money
## Q3 2026 Earnings Results
Ferrovial reported 18.4% revenue growth in the first nine months driven by toll rate increases implemented on Jan. 1.
## Construction Order Book
Construction order book reached all-time high of EUR 19 billion at end of September, representing 8.2% like-for-like growth from December 2025.
## Construction Adjusted EBIT Margin
Construction adjusted EBIT margin improved to 4.1% for the first nine months, up from 3.7% in the prior-year period.
## I-285 East Concession Payment
I-285 East East concession payment proposed for Phase 1 at $23.1 billion, with final figures subject to interest rates and financial structuring.
## I-24 Concession Payments
I-24 concession payments total $21 billion on present value basis, featuring front-loaded nominal payments of $7.7 billion during construction from 2027 to 2033.
## Net Cash Position
Net cash position reached EUR 1.66 billion as of Sept. 30, excluding infrastructure project companies, compared to EUR 1.3 billion at end of 2025.
## 407 ETR Traffic
407 ETR traffic declined 7.1% in Q3, impacted by targeted promotions and flat regional GDP growth.
## LBJ Revenue
LBJ revenue grew 16.3% in first nine months, supported by 3.9% increase in transactions.
## I-66 Revenue
I-66 revenue grew 17.7% in first nine months, driven by higher toll rates and 7% increase in transactions.
## I-77 Adjusted EBITDA
I-77 adjusted EBITDA declined 6.1% in first nine months, reflecting step-up in revenue share band from 25% to 50%.
## NTE Revenue
NTE revenue grew 14.8% in first nine months despite 2.2% traffic decline from capacity improvement works.
## NTE 35W Revenue
NTE 35W revenue grew 15.8% in first nine months despite $23.5 million revenue share impacts.
## NTO Airline Agreements
NTO reached 32 airline agreements as of Oct. 28, 2026, including 24 executed agreements and eight letters of intent.
## NTO Total Equity
NTO invested EUR 1,042 million following final EUR 63 million contribution in second quarter.
## Project Dividends
Project dividends totaled EUR 604 million in first nine months, including EUR 315 million from 407 ETR and EUR 159 million from Dallas managed lanes.
## I-285 East Construction Cost
I-285 East Phase 1 construction cost estimated at $8.9 billion with 6.5-year construction period expected to begin in 2028.
## Key takeaway

Ferrovial's Q3 2026 earnings show 18.4% revenue growth from toll increases, EUR 19 billion construction order book, and $23.1 billion I-285 East concession payment.