Is Perenti Limiteds FY26 Guidance Reset Behind Its 13.83% Share Price Drop?
Source: Kapitales Research
Highlights
• Perenti Limited (ASX: PRN) shares fell nearly 13.83% at the time of writing, trading at AU$2.430 after declining AU$0.389.
• Underlying NPAT(A) increased 12% to AU$91.8 million at the time of writing, with EBIT(A) up 3% to AU$160.1 million at the time of writing.
• FY26 revenue guidance tightened to AU$3.45–3.55 billion at the time of writing, with EBIT(A) guidance revised to AU$335–350 million at the time of writing.
Perenti Limited (ASX: PRN) recorded a share price decline of nearly 13.83% at the time of writing, trading at AU$2.430 following a AU$0.389 fall during the session. The market reaction comes despite the Group delivering a solid 1H26 result, as investors digest revised FY26 guidance linked to currency movements.
1H26 Financial Performance
Revenue for the half was AU$1.73 billion at the time of writing, broadly in line with the prior corresponding period. Underlying EBIT(A) rose to AU$160.1 million at the time of writing, while underlying NPAT(A) increased 12% to AU$91.8 million at the time of writing. Reported NPAT improved to AU$70.5 million at the time of writing. EBIT(A) margin strengthened to 9.3% at the time of writing, up from 9.0% in 1H25, supported by portfolio reshaping and improved project mix. Leverage is reduced to 0.6x at the time of writing, reflecting disciplined balance sheet management.
Upcoming Board Changes
Perenti Limited (ASX: PRN) confirmed that Tim Longstaff will resign as a Non-executive Director effective 30 April 2026, following his appointment as Chair of Aurizon. The transition reflects his expanded external commitments while ensuring orderly Board succession.
Forward Outlook
As at 31 December 2025, work in hand totalled AU$5.8 billion at the time of writing, providing solid earnings visibility. The Group also reported a significant opportunity pipeline valued at AU$18.6 billion at the time of writing, supporting medium-term growth prospects across its diversified portfolio. In February 2026, Barminco USA was issued a Letter of Intent by Barrick to undertake early works readiness activities at the Fourmile Project in Nevada, United States. The development highlights continued client confidence in Barminco’s underground mining expertise. Contract finalisation is progressing, with project commencement expected in FY27 at the time of writing.
FY26 Guidance Update
Following the recent appreciation of the AUD against the USD, the upper end of revenue and EBIT(A) guidance has been revised. However, free cash flow guidance has been upgraded, and capital expenditure expectations have been reduced.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Is Perenti Limiteds FY26 Guidance Reset Behind Its 13.83% Share Price Drop?
Highlights
• Perenti Limited (ASX: PRN) shares fell nearly 13.83% at the time of writing, trading at AU$2.430 after declining AU$0.389.
• Underlying NPAT(A) increased 12% to AU$91.8 million at the time of writing, with EBIT(A) up 3% to AU$160.1 million at the time of writing.
• FY26 revenue guidance tightened to AU$3.45–3.55 billion at the time of writing, with EBIT(A) guidance revised to AU$335–350 million at the time of writing.
Perenti Limited (ASX: PRN) recorded a share price decline of nearly 13.83% at the time of writing, trading at AU$2.430 following a AU$0.389 fall during the session. The market reaction comes despite the Group delivering a solid 1H26 result, as investors digest revised FY26 guidance linked to currency movements.
1H26 Financial Performance
Revenue for the half was AU$1.73 billion at the time of writing, broadly in line with the prior corresponding period. Underlying EBIT(A) rose to AU$160.1 million at the time of writing, while underlying NPAT(A) increased 12% to AU$91.8 million at the time of writing. Reported NPAT improved to AU$70.5 million at the time of writing. EBIT(A) margin strengthened to 9.3% at the time of writing, up from 9.0% in 1H25, supported by portfolio reshaping and improved project mix. Leverage is reduced to 0.6x at the time of writing, reflecting disciplined balance sheet management.
Upcoming Board Changes
Perenti Limited (ASX: PRN) confirmed that Tim Longstaff will resign as a Non-executive Director effective 30 April 2026, following his appointment as Chair of Aurizon. The transition reflects his expanded external commitments while ensuring orderly Board succession.
Forward Outlook
As at 31 December 2025, work in hand totalled AU$5.8 billion at the time of writing, providing solid earnings visibility. The Group also reported a significant opportunity pipeline valued at AU$18.6 billion at the time of writing, supporting medium-term growth prospects across its diversified portfolio. In February 2026, Barminco USA was issued a Letter of Intent by Barrick to undertake early works readiness activities at the Fourmile Project in Nevada, United States. The development highlights continued client confidence in Barminco’s underground mining expertise. Contract finalisation is progressing, with project commencement expected in FY27 at the time of writing.
FY26 Guidance Update
Following the recent appreciation of the AUD against the USD, the upper end of revenue and EBIT(A) guidance has been revised. However, free cash flow guidance has been upgraded, and capital expenditure expectations have been reduced.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au