Earnings call transcript: GenusPlus posts record H2 2026 results, shares slip

GenusPlus Holdings reported record second-half 2026 results on Thursday, with revenue surging 70% to AUD 1.28 billion and EBITDA exceeding AUD 100 million for the first time. The underlying net profit after tax stood at AUD 54 million, and free cash flow before income tax surged to AUD 229 million. Despite these strong operating numbers, the stock slipped 1.79% to $8.77 from $8.93, indicating cautious investor sentiment.

The company's half-year represents a significant step forward in its scale and earnings power, driven by large transmission, distribution, renewable energy, and services projects. Revenue reached AUD 1.28 billion, up from AUD 550 million two years ago, as the infrastructure division led the charge with a 100% year-over-year revenue increase to AUD 837 million.

The services division delivered AUD 150 million in revenue, described as an "outstanding result." Management maintained group EBITDA margins above 6%, within their stated 4% to 8% target range. The company highlighted a recurring revenue base of AUD 764 million, supporting earnings stability as the business expands. GenusPlus forecasted FY2027 EBITDA of AUD 200 million to AUD 205 million and capital expenditure of AUD 65 million to AUD 70 million.

The stock's decline may reflect profit-taking or investor wait for more evidence of sustained growth while protecting margins. GenusPlus currently trades at an 8% premium to its 52-week low and below its 52-week high.