Earnings call transcript: Downer shares sink after FY2026 profit growth, softer H1 outlook

Downer Group reported a stronger full-year profit and margin expansion for FY2026, with underlying NPATA rising 10% to AUD 306.7 million and statutory NPAT increasing 51% to AUD 225 million. However, shares fell 11.68% to $6.58, near the low end of their 52-week range, as investors focused on a softer first half and a heavier second-half skew in FY2027.

The company's FY2026 performance marked steady improvement as it continued to reshape its portfolio and tighten execution, with revenue of AUD 9.9 billion and improved EBITA margins. Despite the solid operating performance, the decline in shares suggests that investors were more concerned about the near-term guidance.

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