• ISS held its Q3 2026 trading update call on November 4, attended by CEO Kasper Fangel and CFO Mads Holm.
• Full-year guidance remained unchanged: organic growth above 6%, operating margin around 5.25%, free cash flow above 3.1 billion.
• Third-quarter organic growth reached 6.8%, including like-for-like growth of 2%.
• Fourth-quarter growth faces tougher DWP comparisons; some customer project spending could shift into early 2027.
• Management expects like-for-like growth around 2% in the first quarter of 2027, with US contracts supporting a positive Americas growth contribution.

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