New York, Feb 19, 2026, 09:31 (EST) — Regular session
- Amrize shares slipped in early trade after a sharp gain in the prior session
- Investors are weighing a $1 billion buyback plan, proposed dividends and 2026 guidance
- Company said it closed the PB Materials acquisition in West Texas
Amrize Ltd shares fell 1.1% to $63 in early trading on Thursday, easing a day after the building materials maker jumped nearly 11% to $63.70. (StockAnalysis)
The pullback matters because this is the first stretch of earnings-season trading where Amrize is trying to reset expectations as a stand-alone company, with cash returns now part of the pitch and 2026 guidance on the table.
It also lands as investors watch U.S. construction demand for signs of strain, particularly in housing-linked categories, while infrastructure and commercial work have held up better for some suppliers.
Amrize said on Feb. 17 it lifted 2025 revenue 0.9% to $11.8 billion and posted adjusted EBITDA of $3.0 billion. It reported operating cash flow of $2.2 billion and free cash flow of $1.5 billion, and guided for 2026 revenue growth of 4%-6% and adjusted EBITDA growth of 8%-11%. (Amrize)
The company’s board also authorized a $1.0 billion share repurchase program, subject to shareholder approval of the 2025 financial statements at its annual general meeting, and proposed both a special one-time dividend of $0.44 per share and an annual ordinary dividend of $0.44 per share. (Amrize)
Amrize added another catalyst late Wednesday, saying it had completed its acquisition of PB Materials Holdings, an aggregates and ready-mix business in West Texas, adding 26 operational sites and more than $180 million in revenue. The company said the deal is expected to be EPS and cash accretive in 2026. (Business Wire)
“I welcome the 340 talented teammates from PB Materials,” Chairman and CEO Jan Jenisch said in the deal statement, calling it part of a push for “value-accretive M&A.” (Business Wire)
A separate company announcement said Amrize filed its Form 10-K annual report for fiscal 2025 with the U.S. Securities and Exchange Commission. (TradingView)
On the Street, Bernstein raised its price target on Amrize to $75, pointing to the company’s guidance and what it described as a positive surprise on shareholder returns. (Investing)
But a lot can still go wrong. The proposed capital returns hinge on shareholder approvals, and Amrize’s building envelope business has already flagged softer residential roofing demand, leaving the stock exposed if U.S. volumes don’t recover as the company expects.
Next up: Amrize’s annual general meeting on April 21, where investors will watch for the vote on the financial statements that underpins the buyback and dividend proposals, and for any timing detail on when repurchases could start. (Amrize)
