Fletcher Building Lifts Fiscal 2026 EBIT Guidance; Shares Up 6%
Fletcher Building (ASX:FBU, NZE:FBU) upgraded its fiscal 2026 earnings before interest and taxes (EBIT) guidance by around 6.4% to NZ$400 million to NZ$403 million, supported by an estimated NZ$52 million contribution from surplus property sales, according to a Thursday filing with the Australian and New Zealand bourses. The company said continuing operations are expected to deliver fiscal 2026 EBIT of NZ$348 million to NZ$351 million, which is around 3.6% above the midpoint of its mid-June guidance, excluding property sales, per the filing. Performance improved due to stronger procurement, manufacturing productivity, low-cost scrap use, higher Iplex demand, and solid infrastructure activity, though macroeconomic uncertainty and cost inflation may weigh on the first half of fiscal 2027 as new projects are delayed or cancelled, the filing said. Light Building Products delivered stronger fourth-quarter volumes, with Iplex New Zealand and Comfortech volumes up 24.6% and 6.3% year on year, respectively, while Heavy Building Materials showed a mixed recovery, with improved quarterly volumes but some businesses still tracking below prior-year levels. Distribution Division volumes.
Fletcher Building (ASX:FBU, NZE:FBU) upgraded its fiscal 2026 earnings before interest and taxes (EBIT) guidance by around 6.4% to NZ$400 million to NZ$403 million, supported by an estimated NZ$52 million contribution from surplus property sales, according to a Thursday filing with the Australian and New Zealand bourses.
The company said continuing operations are expected to deliver fiscal 2026 EBIT of NZ$348 million to NZ$351 million, which is around 3.6% above the midpoint of its mid-June guidance, excluding property sales, per the filing.
Performance improved due to stronger procurement, manufacturing productivity, low-cost scrap use, higher Iplex demand, and solid infrastructure activity, though macroeconomic uncertainty and cost inflation may weigh on the first half of fiscal 2027 as new projects are delayed or cancelled, the filing said.
Light Building Products delivered stronger fourth-quarter volumes, with Iplex New Zealand and Comfortech volumes up 24.6% and 6.3% year on year, respectively, while Heavy Building Materials showed a mixed recovery, with improved quarterly volumes but some businesses still tracking below prior-year levels.
Distribution Division volumes.