Endeavour Group (EDV) Q1 2026 TU earnings summary

Executive summary

• Group sales for the 14 weeks ending 5 October were $3.1 billion, down 0.3% year-over-year, with Retail at $2.5 billion, down 1.4%, and Hotels at $592 million, up 4.4%.

• Retail sales trajectory improved in September and October, returning to growth, supported by targeted promotions and key social events.

• Hotels segment delivered growth across food, bar, gaming, and accommodation, with new venues and renewals contributing to performance.

• Customer satisfaction scores increased across Dan Murphy's, BWS, and Hotels, reflecting a focus on value, range, and service.

• The pub+ loyalty program in Hotels now has over 560,000 active users, accounting for nearly 30% of food and bar transactions.

Financial highlights

• Combined Dan Murphy's and BWS sales were $2.4 billion, down 1% year-over-year, with total Retail sales at $2,499 million, down 1.4%.

• Hotels sales reached $592 million, up 4.4% year-over-year, with comparable hotel sales up 3.6%.

• Online sales for Dan Murphy's and BWS grew 20.9%, now representing 10.2% of sales.

• Dan Murphy's and BWS combined comparable sales declined 1.3%.

• Hotels installed approximately 250 new EGMs in Q1, with a further 900 installed in the second half of the prior year.

Outlook and guidance

• Positive retail sales growth in September continued into October, though hotel sales growth in October was modestly below Q1 trend.

• Promotional intensity in retail liquor is expected to remain elevated through the remainder of the first half, especially leading into key events like Christmas.

• Inflationary wage pressures, higher security costs, and increased depreciation/amortization are expected to be headwinds to earnings.

• Capital expenditure for F26 is expected to be $420–$470 million, with One Endeavour spending between $90–$110 million.

• Approximately 400 new EGMs and 10 hotel renewals are planned for Q2.