{
  "id": 3421899,
  "title": "Worley FY profit slides 35% on restructuring costs, M.East disruptions",
  "url": "https://urgent.news/2026/08/26/worley-fy-profit-slides-35-on-restructuring-costs-m-east-disruptions",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-26T03:50:42.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/worley-fy-profit-slides-35-on-restructuring-costs-meast-disruptions-93CH-4876238"
  },
  "original_language": "en",
  "account": "Worley reported on Wednesday that its full-year statutory net profit declined by 35.6%, amid challenges from the Middle East conflict, weaker European chemicals demand, and restructuring charges. The Sydney-based engineering firm recorded a statutory net profit after tax of $306 million for the fiscal year ending June 30. This figure included $120 million in pre-tax restructuring costs, largely due to two cancelled chemicals projects in Western Europe. Underlying earnings before interest and tax, which exclude one-off items, fell 10.8% to $734 million, down from $823 million the previous year. The conflict in the Middle East reduced earnings by $58 million, while underlying net profit after tax slipped 16.8% to $395 million. Total revenue remained relatively stable at $12.023 billion. Growth in the Americas, fueled by progress on Venture Global's CP2 LNG project in Louisiana, counterbalanced weakness in EMEA and Asia Pacific. However, Worley's underlying EBITA margin fell to 6.1% from 6.8% due to a higher proportion of lower-margin construction and procurement work. The board declared a final dividend of 25 cents per share, unfranked, payable on September 30. CEO Chris Ashton noted that activity remained robust in the Americas, while the Middle East conflict and softer conditions impacted other regions. Bookings rose 23% to $15.5 billion, and the backlog increased 9% to $13.8 billion. This was a decline from $16.7 billion during the previous half-year, following the removal of the ExxonMobil Baytown Blue Hydrogen project. New contracts included deals with American Electric Power, Chevron, and Orbia Fluor & Energy Materials. Looking ahead to fiscal 2027, Worley forecasts moderate to high single-digit growth in both revenue and underlying EBITA, with expectations leaning towards the second half of the year. The company reaffirmed its target for double-digit earnings growth by fiscal 2030.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}