The Worley Ltd (ASX: WOR) share price is in the spotlight as the company hosted its 2026 Investor Day, revealing a refreshed medium-term strategy through to FY30. Key highlights include $95 million in annualised cost savings already actioned and the announcement of a new share buyback program of up to $300 million.
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What did Worley report?
- Annualised cost savings: $95 million actioned, with an additional $25 million underway, exceeding the company's $100 million target
- Revenue growth: Aggregated revenue has grown by 15% CAGR from FY22 to FY25
- EBITA margin: Guidance for FY26 EBITA margin (excluding procurement) of 9.0–9.5%
- Share buyback: Launching a new on-market buyback of up to $300 million following a completed $500 million program
- Digital investment: $70 million planned investment in digital and AI over the next two years
- Backlog: Backlog has increased to $16.9 billion as at March 2026
What else do investors need to know?
Worley's Investor Day presentation outlined a renewed focus on full project delivery and expansion into future-facing markets such as data centres, nuclear, and energy transition materials. The company highlighted notable new partnerships, including with Baker Hughes on LNG projects and Orbia on a lithium facility in Louisiana, as well as contracts supporting power and data centre growth in the US and feasibility work on rare earths in Brazil.
While the ongoing conflict in the Middle East has delayed some project awards and impacted current year financial expectations (with FY26 underlying EBITA growth now unlikely), Worley remains positive about its long-term prospects. The company emphasised the resilience of its business model, global diversification, and a disciplined approach to risk and capital allocation.
What's next for Worley?
Worley's medium-term strategy is focused on scaling its full project delivery capacity, targeting double-digit growth in underlying EBITA through to FY30. Management plans to reinvest cost savings into digital and AI capabilities, while pursuing growth in integrated gas, energy transition materials, and critical infrastructure. The business is also expanding its leadership team to support these ambitions.
Despite near-term headwinds from global uncertainty, especially in the Middle East, Worley expects structural megatrends such as energy transition, infrastructure modernisation, and digital acceleration to drive demand in its core and adjacent markets. The company believes its capital-light model and global scale uniquely position it for long-term value creation.
Worley share price snapshot
Over the past 12 months, Worley shares have declined 8%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 4% over the same period.
