The Lenzing Group is seeing early gains from its repositioning.

On Thursday, the Lenzing , Austria-based company reported revenue down 2.3 percent to 1.93 billion euros ($2.1 billion) in the first three quarters of 2026. However, the Tencel producer said it returned to profitability. Though revenue was expected to decline due to reduced fiber capacity, adjusted EBITDA remained virtually unchanged from the prior year at 353 million euros ($393 million).

The company said lower sale volumes resulting from the targeted reduction of standard fiber production and lower pulp prices drove revenue down but noted that it achieved a return to profitability “despite a persistently volatile market environment characterized by geopolitical tensions, including the conflict in Iran, trade policy uncertainties related to tariffs, and continued elevated energy and chemical costs.”

“The third quarter of 2026 marks an important milestone in the repositioning of the Lenzing Group.…