Woolworths Group (WOW) H1 2026 earnings summary

Executive summary

• Group sales for H1 FY26 rose 3.4% year-over-year to AUD 37.1 billion, with all segments reporting sales and EBIT growth and strong e-commerce momentum.

• EBIT before significant items increased 14.4% to AUD 1.7 billion, and NPAT before significant items rose 16.4% to AUD 859 million.

• After significant items, NPAT dropped 49.4% to AUD 374 million due to a one-off payroll remediation provision of AUD 698–710 million.

• Interim/final dividend increased 15.4% to AUD 0.45 per share, fully franked.

• Leadership and structural changes, digital transformation, and productivity initiatives enhanced execution and customer momentum.

Financial highlights

• Group EBIT before significant items up 14.4% to AUD 1.66 billion; NPAT before significant items up 16.4% to AUD 859 million.

• NPAT after significant items fell 49.4% to AUD 374 million due to payroll remediation.

• Operating cash flow before interest and tax was AUD 3.2 billion, up 4.5%; cash realisation ratio at 95%.

• Basic EPS before significant items up 16.4% to 70.4c; after significant items, down 49.4% to 30.6c.

• Gross profit increased to AUD 10.17 billion; EBITDA before significant items up 8.5% to AUD 3.21 billion.

Outlook and guidance

• On track to deliver mid to high single-digit EBIT growth in Australian Food for FY26, with Q3 sales up 5.8%.

• New Zealand Food continues transformation amid challenging conditions; BIG W expected to remain EBIT and cash flow positive.

• Operating CapEx for FY26 expected to be around AUD 2 billion.

• Directors expect adequate resources for continued operations.

• Anticipate ongoing competitive intensity and customer focus on value.