JB Hi-Fi (JBH) H2 2026 earnings summary

Executive summary

• Achieved record total sales of AUD 11.06 billion for FY26, up 4.8% year-over-year, with growth across all major brands and strong earnings performance.

• Net profit after tax rose 6.0% to AUD 489.9 million, and basic EPS increased 5.9% to 448.1 cents.

• Ordinary dividend per share increased 22.5% to 337 cents, representing 75% of NPAT, with a final dividend of 127 cents per share.

• Multi-brand, multi-channel strategy and strong supplier relationships supported market reach and customer engagement.

• Sustainability initiatives advanced, with 68% renewable energy use, 12,077 tonnes of e-waste recycled, and a 58% reduction in Scope 1 & 2 emissions since FY20.

Financial highlights

• Group EBIT grew 5.8% to AUD 734.4 million, with EBIT margin at 6.64% and statutory EBIT up 5.8%.

• Free cash flow was AUD 403.4 million, net cash position of AUD 206.5 million at year-end, and CapEx rose 6.4% to AUD 87.4 million.

• Inventory increased 4.5% to AUD 1.36 billion, with inventory turnover at 6.46x.

• Dividends paid totaled AUD 453.7 million.

• EPS: 448.1 cents (+2.9% YoY underlying, +5.9% statutory).

Outlook and guidance

• Retail environment expected to remain uncertain short-term, with customers seeking value and shifting spend to promotional events.

• July 2026 trading update: JB HI-FI Australia (-0.5%), New Zealand (+20.9%), The Good Guys (-1.7%), e&s (-2.7%).

• Focus areas for FY27: retail execution, store and multi-channel growth, supply chain enhancements, and e&s expansion.

• Anticipate improvement in sales momentum into Q2 and second half as headwinds ease and new product releases arrive.

• Management remains focused on value offers, market share growth, and adapting to customer demand shifts.