Nashville’s Traffic Nightmare Is Now a $9.2B Ferrovial (FER)-Led Project

Ferrovial stock rose 3.4% to €56.97 after its consortium, DriveTN, won a $9.2B contract to develop I-24 Southeast express lanes in Nashville. The project aligns with Ferrovial's strategic focus on North American managed-lane infrastructure, following strong H1 2026 earnings. The gain was driven by company-specific news, not broader market trends.

Ferrovial, a global infrastructure company, was selected to deliver Tennessee's $9.2B I-24 Southeast Choice Lanes project, the largest private investment in the state's history. The project, a public-private partnership, will add choice lanes along a 26-mile corridor, improving mobility in the Nashville region. Ferrovial, along with consortium partners, will finance, design, build, operate, and maintain the project, which is expected to generate $24.8B in concession value for Tennessee. The comp

Ferrovial reported H1 2026 results, citing double-digit growth in Construction and Highways, driven mainly by U.S. highways. Adjusted EBITDA rose 21.6% like-for-like to €746 million, revenue increased 11.3% to €4.7 billion, and net profit was €258 million. Liquidity was €4.7 billion and net cash €1.3 billion. Ferrovial also reported a €18 billion order book and bids in Tennessee and Georgia.

Ferrovial reported first-half 2026 revenue of €4.7 billion, up 11.3% like-for-like, and adjusted EBITDA of €746 million, up 21.6% like-for-like. Net profit fell to €258 million from €540 million, partly due to prior-year capital gains. Highways revenue rose 15.8% to €740 million. Ferrovial said North America drove results and reported €18 billion order book.

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