Austal
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Austal (ASB) investor relations material

Austal H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary22 Feb, 2026

Executive summary

  • Revenue for H1 FY2026 reached $1.1 billion, up 34% year-over-year, with EBIT at $60.3 million and NPAT at $30.5 million, both showing significant growth.

  • Order book reached a record AUD 17.7 billion, driven by major defense contracts in Australia and the U.S., including new Landing Craft and Strategic Shipbuilding Agreement.

  • Business is now 96% defense-weighted, with a growing balance between U.S. and Australasia operations.

  • Significant investments in shipyard expansion and manufacturing capacity in both the U.S. and Australia, including a $100 million loan for US shipyard capabilities.

  • Over 4,600 employees globally, with revenue and workforce growing alongside the expanding order book.

Financial highlights

  • Group revenue increased 34.4% year-over-year to $1,109.4 million, with all segments experiencing growth.

  • EBIT rose 41% to $60.3 million; EBITDA increased to $93.9 million; NPAT up to $30.5 million.

  • Australasia Shipbuilding revenue up 83%, with EBIT surging to $29.2 million from $1.9 million.

  • U.S. Shipbuilding revenue up 29% to $801.4 million, but EBIT declined to $38.9 million due to margin compression and onerous contracts.

  • Cash balance at $371.6 million at period end, down due to capital investment and delayed milestone payments.

Outlook and guidance

  • Positive outlook with continued growth expected in both U.S. and Australasia as new programs ramp up and major contracts are secured.

  • EBIT margins in shipbuilding expected to return to 7%-10% range as programs stabilize.

  • Significant capex in Mobile, AL and Henderson, WA to support future submarine and steel ship programs.

  • Additional growth opportunities anticipated from AUKUS partnership and increased defense spending in US and Australia.

  • No specific cash flow guidance provided, but major projects are on or ahead of schedule and within budget.

Mitigation for U.S. onerous contracts
Auditor's qualification on T-ATS/AFDM?
Future geographical earnings split?
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H2 202627 Aug, 2026
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Frequently asked questions

Austal Limited is an Australian-based global shipbuilding company and defence prime contractor, specializing in the design, construction, and support of defence and commercial vessels. The company’s diverse product portfolio includes passenger and vehicle-passenger ferries, patrol boats, high-speed support vessels, surface combatants, and multi-role vessels. Austal’s capabilities extend to comprehensive vessel maintenance and management services worldwide. The company is headquartered in Henderson, Western Australia, and its shares are listed on the Australian Securities Exchange.

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