Earnings call transcript: Austal posts record FY 2026 revenue but reports loss
Austal Limited released its FY 2026 earnings call transcript, revealing record revenue but a net EBIT loss. The company reported revenue of AUD 2.026 billion, an 11.3% increase from the previous year, but an EBIT loss of AUD 125 million after a one-time accounting adjustment at Austal USA due to unresolved contract matters. Australian operations delivered a record EBIT of AUD 85 million, up 137% year-over-year, accounting for 32% of group revenue and reflecting a shift in Austal's business mix.
The U.S. business saw a 3.9% increase in shipbuilding revenue but a 16.5% decline in support revenue, due to changing fleet deployment patterns. The order book reached a record AUD 16.5 billion. The company aims to return to profitability by FY 2027, with Australian shipbuilding revenue expected to more than double in the next five years.
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