Nexans shares jumped 8.33% to 148.20 euros on a dual catalyst: the release of first-quarter revenue figures and a strategic acquisition in the United States.

The group, which designs and deploys advanced cabling solutions, accessories, and services to electrify progress safely and sustainably, reported a 1.3% increase in revenue at standard metal prices, reaching 1.497 billion euros. On an organic basis, growth stood at a modest 0.1%.

Performance was driven by the core Electrification businesses, which saw 4.9% organic growth, while Other activities fell by 24.1%, weighed down by U.S. customs duties.

2026 outlook confirmed

Nexans reaffirmed its full-year targets, still projecting adjusted EBITDA between 730 million and 810 million euros, with free cash flow expected between 210 million and 310 million euros. Oddo BHF noted that the lower end of this guidance reflects a highly conservative scenario. Analysts are forecasting EBITDA of 788 million euros, implying a 12.2% margin, up 30 basis points.

U.S. Acquisition

In tandem with its results, the group signed an agreement to acquire 100% of Republic Wire, a prominent American manufacturer of low-voltage copper and aluminum wire products.

For Nexans, this external growth move marks a significant milestone in its strategy to expand its geographic footprint in the United States, one of the world's most dynamic markets for low and medium-voltage cables.

Through this transaction, the group will establish a large-scale manufacturing and distribution platform on U.S. soil, complementing its recent acquisition of Electro Cables in Canada. Furthermore, Nexans will gain access to residential and commercial channels via Republic Wire's robust network of sales agents and distributors, creating a platform for future organic and inorganic growth across the country. Finally, the acquisition is expected to generate approximately 23 million euros in run-rate synergies within three years.

Oddo BHF analysts reiterated their 'outperform' rating on the stock with a price target of 170 euros, representing a 24% upside potential compared to Monday's close.