3i earnings date and guidance
3i reports its six-month results on November 12, 2026. Watch 3i’s Action for like-for-like sales and margins.
What has 3i guided for the year?
3i’s annual total-return target is 15%. Total return measures how much shareholders’ funds grow, including changes in the estimated value of businesses that 3i has not sold. It is not a promise to pay shareholders 15% in cash: a house that rises from £100 to £115 while paying £2 in rent has produced value growth, but only £2 has arrived as cash. The separate 8%–10% target belongs to 3i Infrastructure, not the whole Group.
Action, 3i’s largest portfolio company, plans at least 400 new stores during calendar 2026 and three new distribution centres. A shop can sell only what the logistics network can replenish, so the chain runs from buying goods to storing, transporting and selling them. Warehouses are therefore part of the sales engine, not background infrastructure.
ten23 health, which fills and finishes injectable medicines for pharmaceutical customers, expects two commercial-scale production lines in Visp to operate in 2027. 3i also plans a share buyback of up to £750 million by 31 December 2026. That reduces the number of shares sharing future value, but uses cash immediately.
| Period | Low | High | Given on | |
|---|---|---|---|---|
| Total return target per annum (%) | FY2027; ongoing annual target | 15.0% | 15.0% | May 14, 2026 |
| 3i Infrastructure — Total return target per annum (%) | FY2027; ongoing annual target | 8.0% | 10.0% | May 14, 2026 |
| Share buyback programme (£ millions) | FY2027; by Dec 31, 2026 | 750 | May 14, 2026 | |
| Action — New stores (stores) | Calendar 2026 | 400 | Jul 23, 2026 | |
| Action — New distribution centres (centres) | Calendar 2026 | 3 | 3 | May 14, 2026 |
| Ten23 health — Commercial scale, high-volume lines (lines) | Calendar 2027 | 2 | 2 | May 14, 2026 |
What this means. The total return target is a long-term yearly goal for investors, not a forecast of the company's earnings.
What promises has 3i kept?
His authority is supported by a measurable turnaround. In June 2012, he promised to simplify 3i and cut annual operating costs by more than £40 million. By March 2013, the annualised reduction had reached £51 million. “Annualised” means the saving expected over a full year at the new spending rate. The result helps explain the board’s continued support.
What are 3i’s last eight reported periods showing?
| 6 months to Mar 2026 | 6 months to Sep 2025 | 6 months to Mar 2025 | 6 months to Sep 2024 | 6 months to Mar 2024 | 6 months to Sep 2023 | 6 months to Mar 2023 | 6 months to Sep 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,010 | 3,486 | 3,044 | 2,018 | 2,166 | 1,711 | 2,889 | 1,777 |
| Operating income | 2,006 | 3,287 | 2,990 | 2,049 | 2,165 | 1,673 | 2,815 | 1,760 |
| Net income | 2,007 | 3,287 | 2,990 | 2,048 | 2,164 | 1,672 | 2,814 | 1,759 |
| EPS, diluted | 198.80 | 339.80 | 309.00 | 211.60 | 223.70 | 173.00 | 291.30 | 182.50 |
What this means. Cash from operations includes investment activity and taxes, so it does not show only the cash generated by the company's day-to-day business.
What should 3i investors watch next?
On 12 November 2026, 3i is scheduled to report its six-month results. Like-for-like sales measure growth in comparable shops, so they help separate stronger customer demand from sales created simply by opening more locations. Investors should read them alongside margins: higher sales matter less if labour, freight or discounting absorbs the gain.