The Brambles Ltd (ASX: BXB) share price is in focus today after releasing its half-year 2026 results, with new business momentum helping lift group sales revenue by 2% to US$3.53 billion and underlying profit up 7% to US$792 million.
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What did Brambles report?
- Sales revenue (continuing operations): US$3,533.5 million, up 2% (constant FX)
- Underlying Profit and Operating profit: US$792.0 million, up 7% (constant FX)
- Operating profit after tax: US$507.4 million, up 11%
- Basic EPS (continuing operations): 37.2 US cents, up 13%
- Free Cash Flow before dividends: US$481.7 million, up US$52.5 million
- Interim dividend: 23.00 US cents per share, up 21% on 1H25
What else do investors need to know?
Brambles managed to offset weaker consumer demand in key markets, like the US and Europe, with strong net new customer growth. The company also benefited from operational efficiencies and disciplined cost control, helping expand margins despite flat overall volumes.
During the half, Brambles invested in digital and asset quality initiatives, enhanced customer service levels, and continued its share buy-back program, purchasing US$191 million worth of shares as part of a planned US$400 million FY26 buy-back.
The company continues to push its Serialisation+ technology program, with significant customer uptake in Chile and ongoing pilot programs in the US and UK. These digital initiatives are aimed at further improving supply chain visibility and efficiency for customers.
What did Brambles management say?
Brambles' CEO Graham Chipchase, said:
We delivered a resilient first-half result, with strong operating leverage and free cash flow outcomes, despite ongoing demand headwinds in key markets. This performance demonstrates our sustained focus on increasing the value we bring to customers' supply chains, maintaining commercial discipline as we grow and delivering efficiencies across all parts of the business.
What's next for Brambles?
Brambles updated its FY26 outlook off the back of first-half results. It now expects full-year sales revenue growth of 3–4% at constant currency (narrowed from 3–5%), while Underlying Profit growth guidance remains unchanged at 8–11%. Free Cash Flow before dividends is upgraded to between US$950–1,100 million (was US$850–950 million).
Management notes that while consumer demand may stay subdued, ongoing cost efficiencies and strong net new business wins should provide resilience. Investments in automation, digitisation, and the Serialisation+ rollout are expected to support Brambles' long-term growth and customer value.
Brambles share price snapshot
Over the past 12 months, Brambles shares have risen 20%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
