Key points
- Sales revenue up 4.5% to $9.4b
- EPS up 0.7% to 49.5c
- EBITDA flat at $901m
- Return on capital up 5bps to 11.9%
- Total dividend per share 18.84c
Full summary
Reece Ltd's FY26 results show solid performance with sales revenue up 4.5% to $9.4 billion. The Australian market saw an 8% increase, driven by strong volume growth in the second half. The U.S. market faced challenges with a 7% sales increase, impacted by a weak residential construction sector. Earnings before interest and tax (EBIT) decreased by 2.6% to $534 million, while EBITDA remained flat at $901 million. Return on capital improved by 5 basis points to 11.9%, and earnings per share (EPS) increased by 0.7% to 49.5 cents. The company maintained a strong balance sheet with net debt at $744 million and available liquidity of $975 million. The outlook for the upcoming year anticipates continued investment in the business with a focus on delivering the customer promise and building a stronger business.
Guidance
Reece Ltd expects a solid activity pipeline in ANZ and continued investment in the US.
Outlook
Reece Ltd anticipates solid activity in ANZ to support the first half of FY27. The US residential construction sector remains soft, with a focus on non-residential demand. The company plans to continue investing and innovating to benefit when the cycle turns.