MOVE Logistics Group (MOV) H2 2026 earnings summary

Executive summary

• Achieved a return to positive normalized earnings and profit after tax for FY26, marking a significant turnaround after a two-year reset phase and completing the Reset phase to initiate the Step Up phase.

• Revenue grew 1.5% year-over-year to $290.6m, with improved performance across all business divisions except Warehousing.

• All four business divisions improved normalized earnings, with three posting profitable results; warehousing remains underperforming and a priority for turnaround.

• Structural cost savings and improved commercial discipline drove performance.

• Completed the reset phase of the New Horizons roadmap, now focusing on operational excellence, customer value, and profitable growth.

Financial highlights

• Revenue: $290.6m (+1.5% YOY); Gross margin: $85.5m (+2.5% YOY); Gross margin %: 29.4% (+0.2pp YOY), reaching three-year highs.

• Normalized earnings before tax returned to a positive $1.6m; profit after tax improved by $15.9m year-over-year to $0.3m.

• Free cash flow increased 194% to $6.3m; net debt reduced by 38% to $10.4m.

• Operating cash flow rose $7.3m year-over-year to $32.6m.

• EPS: 0.25c (up 12.46c YOY); Normalised EBITDA: $47.7m (+$5.6m YOY).

Outlook and guidance

• Focus shifting from structural change to value creation, with revenue growth, warehouse turnaround, and warehouse utilization as key priorities.

• Economic recovery signs are emerging, but pace and timing remain uncertain, with fuel price volatility impacting demand.

• Expectation that increased revenue will translate into higher margin earnings due to operating leverage, with continued positive cashflow and balance sheet strengthening.