Key points
- Sales revenue increased 4.5% to $9,378m
- EBITDA remained flat at $901m
- NPAT declined 2.8% to $308m
- Total dividends increased to 18.84 cents per share
- Outlook anticipates modest growth in US region
Full summary
Reece Ltd, a leading distributor of plumbing, waterworks, and HVAC-R products, reported its FY26 financial results for the 12-month period ended 30 June 2026. Group sales revenue increased by 4.5% to $9,378 million, with a 7.3% increase on a constant currency basis. EBITDA remained flat at $901 million, while EBIT decreased by 2.6% to $534 million and NPAT declined by 2.8% to $308 million. The Group generated net operating cash inflows of $645 million, with capital expenditure of $174 million supporting organic network expansion and investment in technology. Net debt increased to $744 million, driven by ongoing investment and partial funding for share buyback programs. The business remains well-capitalized with a net leverage ratio of 1.0x. The Board declared a final dividend of 13.40 cents per share fully franked, taking total dividends to 18.84 cents per share in FY26. The outlook anticipates modest growth in the US region, with more resilient performance in the non-residential segment.
Guidance
FY26 Sales: $9,378m, EBITDA: $901m, EBIT: $534m, NPAT: $308m, Dividends: 18.84 cents per share
Outlook
ANZ region expected to maintain momentum; US region anticipates modest growth with a focus on non-residential segment resilience. Interest rate sensitivity and housing affordability remain key risks.