Ansell (ANN) H1 2026 earnings summary

Executive summary

• Achieved double-digit adjusted EPS growth, with adjusted EPS up 18.5%–19% year-over-year despite subdued market conditions, supported by margin expansion and successful offsetting of US tariff costs through pricing actions and operational efficiencies.

• Delivered strong cash flow, all-time high net sales, and record absolute EBIT, with EBIT up 15.3% to $146.9m and EBIT margin rising to 14.3%.

• Leadership transition completed, with Nathalie Ahlström appointed as CEO, emphasizing continuity, innovation, and sustainability.

• Continued success with new product launches, digital transformation, and enhanced service offerings, supporting long-term growth.

Financial highlights

• Sales for FY26 H1 were $1,026.6m, up 0.7% year-over-year; organic constant currency sales declined 0.6% but adjusted sales growth was 2.1% after excluding prior period non-recurring sales.

• EBIT margin rose 180bps to 14.3%, with EBIT up 15.3% reported and 15.4% organic constant currency.

• Adjusted EPS reached 66.3 cents, up 18.5%–19% year-over-year; statutory EPS increased 62.7% to 61.5 cents.

• Dividend per share was 26.60 cents, up 19.8% year-over-year.

• Net debt/EBITDA improved to 1.5x, with strong cash conversion of 112% and $47m–$47.2m spent on share buybacks.

Outlook and guidance

• Maintained adjusted EPS guidance of $1.37–$1.49 for the full year, despite a $5m FX headwind.

• Organic constant currency sales growth expected in FY26 H2, with stable market conditions and continued earnings momentum.

• On track to deliver $12m in KBU net pre-tax cost synergies and $50m annualized APIP savings for FY26.

• Capex forecasted at $60m–$70m, with ongoing share buyback program.