GrainCorp Posts FY26 Underlying EBITDA of $223 Million, Declares 14 Cents Final Dividend

Shwetambri Chauhan

12 November 2026 10:15 AM AEDT

GrainCorp Posts FY26 Underlying EBITDA of $223 Million, Declares 14 Cents Final Dividend

Image Source: Krish Capital Pty Ltd

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GrainCorp Limited (ASX:GNC) has reported underlying EBITDA of $223 million for the full year ended 30 September 2026, compared with $308 million in FY25, with the result described as in line with guidance. The company recorded a net loss after tax of $10 million, against a $40 million profit in the prior year, and declared a fully franked final ordinary dividend of 14 cents per share.

Key Points

FY26 underlying EBITDA of $223 million, compared with $308 million in FY25, in line with guidance
Net loss after tax of $10 million, versus a $40 million profit in FY25; underlying NPAT of $31 million (FY25: $87 million)
Final ordinary dividend of 14 cents per share fully franked, payable 15 December 2026 to shareholders on register at 26 November 2026
Core cash of $171 million at end of FY26, compared with $321 million at end of FY25
$75 million on-market share buy-back in place, with approximately $38 million completed to date

Agribusiness Segment Performance in FY26

The Agribusiness segment reported underlying EBITDA of $156 million in FY26, compared with $218 million in FY25. The filing states the result reflected lower grain margins and fewer tonnes handled across East Coast Australia, partly offset by a stronger result from International operations. Total grain handled was 28.6 million metric tonnes, against 31.6 million metric tonnes in FY25. Domestic outloads were 5.8 million metric tonnes (FY25: 6.5 million metric tonnes) and exports were 5.9 million metric tonnes (FY25: 7.0 million metric tonnes). The sale of GrainsConnect Canada was completed in the second half of FY26.

Nutrition and Energy Segment Results

The Nutrition and Energy segment recorded underlying EBITDA of $96 million in FY26, compared with $117 million in FY25. Human Nutrition earnings were lower, reflecting softer customer demand for bulk edible oils. Oilseed crush volumes were 553 thousand metric tonnes, against 557 thousand metric tonnes in FY25. Animal Nutrition delivered record sales volumes of 751 thousand metric tonnes, compared with 713 thousand metric tonnes in FY25, marking a fifth successive year of volume growth. Agri-energy delivered record sales volumes and improved margins in the second half of FY26, with the full-year financial contribution described as in line with the prior year.

Business Transformation Program and FY27 Outlook

GrainCorp's Business Transformation Program delivered $12 million in run-rate annualised benefits during FY26. Release 1 of the company's systems transformation is planned for the first half of calendar 2027. The program targets a $20–$30 million run-rate improvement in average earnings through the cycle by the end of FY28. The September 2026 ABARES Crop Report forecasts an East Coast Australia winter crop of 26.6 million metric tonnes for the 2026–27 season. FY27 export and crush margins are expected to improve from FY26 levels. GrainCorp expects to provide FY27 earnings guidance at its Annual General Meeting in February 2027.

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