The Qube Holdings Ltd (ASX: QUB) share price is in focus today after the company delivered another record half-year result, with underlying revenue up 12.9% to $2.36 billion and a strong 30.5% increase in its interim dividend.
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What did Qube report?
- Underlying revenue rose 12.9% to $2.36 billion for H1 FY26
- Underlying EBITA increased 9.8% to $196.3 million
- Statutory NPAT jumped 101.1% to $212.6 million (boosted by a major asset sale)
- Underlying NPATA grew 10.1% to $157.5 million
- Earnings per share (pre-amortisation) up 9.8% to 8.9 cents
- Interim dividend up 30.5% to 5.35 cents per share (fully franked)
What else do investors need to know?
Qube's result was supported by solid performance in its Operating Division, with positive contributions from new acquisitions including AAT Webb Dock West, Coleman, ABH bulk handling in WA, and Nexus Logistics in New Zealand. The 101% jump in statutory net profit included a significant $101.5 million pre-tax boost from the sale of land at Beveridge, Victoria.
The company also highlighted ongoing efforts to improve safety, with a 22% reduction in its Total Recordable Injury Frequency Rate. However, the period was marked by a tragic contractor fatality in October 2025 at Qube's Narromine Agri facility, with support continuing for the investigation.
Qube has entered into a scheme implementation deed with a Macquarie Asset Management-led consortium, which proposes to acquire 100% of Qube's shares by way of scheme of arrangement, subject to customary conditions.
What did Qube management say?
Qube Managing Director Paul Digney said:
Qube again delivered revenue and earnings growth in the period, underpinned by our proven ability to deliver reliable, valuable and efficient logistics services for a diversified customer base … These results underscore the value generated through Qube's successful strategy of making targeted acquisitions to enhance service capabilities and then further investing in these acquisitions to support our customer base and deliver sustainable earnings growth.
What's next for Qube?
Looking ahead, Qube expects to deliver continued solid underlying earnings growth for FY26, with NPATA and EPSA forecast to rise 6–10% versus FY25, despite some headwinds from higher interest expenses and fluctuations between its Ports & Bulk and Logistics & Infrastructure business units.
The company is planning full-year gross capex of $400 million to $450 million, and remains confident in its strategy of growth through acquisitions, investing to support customers, and maintaining a robust safety culture.
Qube share price snapshot
Over the past 12 month, Qube shares have risen 25%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.
