Kingfisher earnings preview: Can B&Q owner sustain momentum amid European weakness?
Kingfisher reports full-year results on 24 March, with investors focused on UK trade strength, margin progression and whether European markets are stabilising.
Kingfisher earnings preview: Can B&Q owner sustain momentum amid European weakness?
Kingfisher, the FTSE 100 home-improvement retailer behind B&Q and Screwfix, is set to report its full-year results on 24 March 2026, with investors focused on whether recent operational momentum can be sustained against a still-uncertain consumer backdrop across Europe.
Kingfisher is expected to report similar revenue to full-year 2025 results but stronger pre-tax profit and earnings per share compared to a year ago.
Revenue:
£12.88 billion, 0.7% above its FY 2025 £12.78 billion result.
Pre-tax profit:
£556 million, around 5% higher than a year ago.
Earnings per share (EPS):
23.12 pence, around 13% higher than a year ago.
Strong first-half momentum sets the baseline
The company's most recent half-year update (covering H1 2025/26) provides a solid foundation heading into the upcoming release. Kingfisher reported group sales of around £6.81 billion, with like-for-like sales up 1.9%, alongside adjusted pre-tax profit of £368 million, up 10.2% year-on-year (YoY).
Performance was supported by strong execution across its strategic priorities, particularly double-digit growth in trade and e-commerce, which helped drive market-share gains despite a mixed macroeconomic environment.
Margins also improved, with gross margin expanding by around 100 basis points, while free cash flow rose to £478 million, reflecting tighter cost control and improved inventory management.
Trade, e-commerce and UK strength drive performance
Kingfisher's UK operations — especially B&Q and Screwfix — have been a key source of strength providing substantial contribution. The group has benefitted from increased demand from trade customers, loyalty programmes and improved in-store execution, alongside continued expansion in digital channels.
The shift towards trade customers is particularly important for investors, as this segment tends to be more resilient than discretionary DIY spending and offers higher frequency purchases. Meanwhile, e-commerce growth has provided an additional lever for sales expansion and margin improvement.
Mixed conditions in continental Europe
Despite strong UK performance, conditions in France and Poland remain more challenging creating geographic divergence. Previous updates have pointed to weaker consumer sentiment and softer demand in these markets, particularly for big-ticket items such as kitchens and bathrooms, which are more sensitive to interest rates and housing market conditions.
Investors will therefore be looking for signs of stabilisation in these regions in the upcoming results, as sustained weakness could offset progress elsewhere in the group.
Guidance and capital allocation in focus
Kingfisher previously raised its full-year profit and free cash flow guidance, targeting the upper end of its £480 million - £540 million adjusted profit range, supported by strong first-half performance.
The company also accelerated its £300 million share buyback programme, underlining confidence in its cash-generation capabilities since buybacks reduce share count and thereby enhance earnings per share (EPS).
In the upcoming 24 March results, investors will assess whether this improved guidance remains intact and whether management continues to prioritise shareholder returns alongside investment in growth initiatives.
What investors will watch on 20 March
Heading into the results, three areas are likely to dominate investor focus beyond headline figures:
- Like-for-like sales trends, particularly whether underlying growth has continued in the UK and stabilised in France.
- Margin progression, given ongoing cost pressures and promotional activity across the retail sector.
- Consumer demand outlook, especially in big-ticket categories tied to housing and renovation activity.
Recent share price movements suggest a degree of caution remains in the market, with Kingfisher stock still trading below recent highs despite short-term gains, reflecting uncertainty around the consumer outlook and sector recovery.
Kingfisher analyst rating and technical analysis outlook
According to LSEG Data & Analytics, analysts rate Kingfisher as a ‘hold’ with a long-term mean price target at 320.23 pence, around 9% above current share price levels, as of 20 March 2026.
Kingfisher LSEG Data & Analytics chart
TipRanks also has an analyst consensus ‘hold’ rating and a ‘7 Neutral’ Smart Score.
Kingfisher TipRanks Smart Score chart
The Kingfisher share price, which began the year on a positive note by rising by around 18% to 372.3p, has seen a sharp fall to below the 300p region and is currently trading down nearly 7% year-to-date (YTD).
Now that the 200-day simple moving average at 300p and the December 2025 low at 297.5p have been slipped through, the 24 September to November 2025 lows at 285.1p - 285.0p may be revisited.
Kingfisher daily candlestick chart
Kingfisher weekly candlestick chart
For a bullish reversal to be seen, the 10 March high at 324.7p and, ideally the early January peak at 330.5p would need to be overcome but even then a recovery is likely to take much longer than did the recent sell-off.
How to invest in Kingfisher shares
Investors interested in UK retail exposure through Kingfisher have several options. Here's how to approach investing:
- Research Kingfisher's latest results, home improvement market trends and consumer spending patterns thoroughly. Understanding retail dynamics helps inform decisions. Investing for beginners provides background.
- Download IG Invest or open a share dealing account to access UK-listed shares. Kingfisher trades under ticker KGF.
- Search for Kingfisher PLC shares on trading platform. Review pricing, yields and recommendations before deciding.
- Choose number of shares or investment value based on portfolio strategy. Consider account type for tax efficiency.
- Place trade and monitor investment. Kingfisher provides half-yearly results and quarterly updates.
Remember retail stocks are cyclical and sensitive to consumer confidence. Diversification reduces concentration risk whilst maintaining sector exposure.
Important to know
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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