Perenti lifts FY26 profit, sees opportunities ahead

The Perenti Ltd (ASX: PRN) share price is in focus after the mining services company reported FY26 underlying NPAT of $192 million, up 8% on last year, and grew its EBIT(A) margin to 9.8%.

What did Perenti report?

• Underlying revenue: $3.5 billion, steady year on year
• Underlying EBIT(A): $340 million, up 2% from FY25
• Underlying NPAT(A): $192 million, up 8% from FY25
• Underlying EPS: 20.5 cents per share, up 7.3%
• Adjusted free cash flow: $182 million, exceeding $170 million guidance
• Final dividend: 4.50 cps; total dividend of 7.75 cps, up 7%
• Leverage reduced to 0.4x
• Statutory NPAT: $44 million after impairments and discontinued operations

What else do investors need to know?

Perenti delivered its fifth consecutive year of meeting guidance, driven by operational strength and disciplined capital allocation. The company maintained a robust safety record, reporting zero fatalities in FY26 and improved safety metrics, with TRIFR and SPIFR both declining.

As part of an ongoing portfolio transition, Perenti completed the sale of BTP Group and announced plans to divest its AMS fleet in West Africa, expected to return about $150 million over the next year. The company has reinstated its on-market share buyback program, reflecting strong balance sheet discipline and a focus on maximising shareholder returns.

Leadership changes saw Vanessa Torres appointed as Managing Director & CEO in May 2026, bringing deep global mining experience, and Vincent Nicoletti joining as a Non-executive Director.

What did Perenti management say?

Vanessa Torres, Managing Director & CEO of Perenti, said:

Perenti has delivered an excellent FY26, making significant progress in safety, operational and financial performance and continuing an ongoing process of portfolio transition. We are pleased to report another year of zero fatalities, alongside improved TRIFR and SPIFR metrics, consistent with our goal of ensuring our workforce can return home safe and well.

What’s next for Perenti?

Looking ahead, Perenti expects to build on its strong platform, guiding for FY27 revenue between $3.45 billion and $3.65 billion and EBIT(A) of $335 million to $355 million. The work-in-hand stands at $6.2 billion, backed by a $20 billion pipeline of tender opportunities.

The company will continue to focus on capital discipline, operational efficiency, and portfolio optimisation—balancing organic and inorganic growth to maximise total shareholder returns. Management highlighted the steady migration of revenue to Australian and North American operations and progress across sustainability and climate initiatives.

Perenti share price snapshot

The Perenti share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of over 10%.

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The post Perenti lifts FY26 profit, sees opportunities ahead appeared first on The Motley Fool Australia.

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• Perent to divest BTP Group for $100 million

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.