The Worley Ltd (ASX: WOR) share price is in focus today as the company reported half-year 2026 results, highlighting 5.4% revenue growth to $6.31 billion and a steady underlying EBITA at $377 million, supported by strong project bookings and ongoing transformation efforts.
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What did Worley report?
- Aggregated revenue of $6,312 million, up 5.4% on the prior corresponding period
- Underlying EBITA rose 0.3% to $377 million; underlying EBITA margin excluding procurement increased to 8.8%
- Underlying NPATA of $207 million, down 4.2%; statutory NPATA of $152 million, down 29.6%
- Interim dividend of 25 cents per share declared (unfranked)
- Normalised cash conversion ratio of 95.5%
- Backlog of $16.7 billion with bookings of $9.8 billion, up 63% on previous half
What else do investors need to know?
Worley continues to benefit from its global reach and growing presence across energy, resources, and chemicals, with energy now contributing half of aggregated revenue and resources showing the strongest growth. The company is actively managing its cost base, incurring $82 million in transformation expenses this half, and expects annual cost savings of over $100 million from FY27.
A $324 million on-market share buy-back has been completed since March 2025, reflecting strong capital management and confidence in future prospects. The Board also reaffirmed its commitment to returning capital to shareholders via the interim dividend.
Bookings for major projects reached a record $9.8 billion, supported by recent wins across LNG, carbon capture, mining, and energy infrastructure. Worley's healthy $16.7 billion backlog and a robust pipeline of future opportunities underpin management's confidence in delivering stable earnings.
What did Worley management say?
Chief Executive Officer and Managing Director Chris Ashton commented:
Solid revenue growth and resilient earnings define this result. Worley continues to win the confidence of our customers as their capital investments adjust to global conditions. These results show once again our adaptability in the face of dynamic markets.
What's next for Worley?
Looking to FY26, management is targeting moderate growth in both aggregated revenue and underlying EBITA, with a focus on higher-margin work and expanding end-to-end project delivery. The company expects its transformation and restructuring initiatives to yield material cost savings from FY27, further strengthening earnings resilience.
Worley is also set to pursue opportunities in growth markets beyond its traditional energy, chemicals, and resources base—supported by digital innovation and the scale of its integrated global operations.
Worley share price snapshot
Over the past 12 months, Worley shares have declined 17%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.
