Highlights

  • The subsequent 10 September 2026 transformation update targeted AUD 12mn run-rate benefits at FY26 year-end and AUD 20mn–30mn through-the-cycle EBITDA improvement by FY28.
  • Oilseed crush volumes reached 277,000 tonnes, bulk materials handled increased to 1.5mn tonnes and animal nutrition sales reached 390,000 tonnes.
  • GrainCorp reported underlying EBITDA of AUD 136mn for 1HFY26, down from AUD 202mn in 1HFY25.

During the 27 October 2026 trading session, GrainCorp Limited (ASX:GNC) traded at AUD 6.655, up 2.07%. The group is engaged in integrated Australian agribusiness operating in grain storage, handling, processing, oils and feedstocks. Its 14 May 2026 disclosure and other company announcements reported the financial, operational and corporate developments discussed below.

1HFY26 Earnings and Cash

GrainCorp reported underlying EBITDA of AUD 136mn for 1HFY26, down from AUD 202mn in 1HFY25. Underlying NPAT was AUD 33mn versus AUD 69mn in the corresponding period. Core cash stood at AUD 163mn compared with AUD 296mn a year earlier. Total grain handled was 26.5mn metric tonnes versus 29.5mn metric tonnes in 1HFY25. Oilseed crush volumes reached 277,000 tonnes, bulk materials handled increased to 1.5mn tonnes and animal nutrition sales reached 390,000 tonnes. GrainCorp declared a 1HFY26 ordinary dividend of AUD 0.14 per share.

Grain Handling and Nutrition Volumes

The company reaffirmed FY26 underlying EBITDA guidance of AUD 200mn–240mn. The subsequent 10 September 2026 transformation update targeted AUD 12mn run-rate benefits at FY26 year-end and AUD 20mn–30mn through-the-cycle EBITDA improvement by FY28. The Business Transformation Program was on track to deliver AUD 12mn in run-rate benefits by the end of FY26. GrainCorp targeted an AUD 20mn–30mn uplift in through-the-cycle EBITDA by the end of FY28. The first systems transformation release for Nutrition and Energy was shifted to 2Q calendar 2027 following late-stage testing. FY27 expenditure for that systems release was projected at AUD 30mn–35mn, an increase from the earlier plan.

Transformation Programme and FY26 Guidance

The Agribusiness operating model review affected approximately 80 roles and resulted in AUD 5mn in FY26 restructuring costs. FY26 underlying EBITDA guidance was around the midpoint of AUD 200mn–240mn; underlying NPAT guidance was AUD 20mn–50mn. GrainCorp scheduled its FY26 results for 12 November 2026. Management expected FY26 underlying EBITDA around the midpoint of AUD 200mn–240mn.

Business Overview

GrainCorp Limited (ASX:GNC) conducts integrated Australian agribusiness operating in grain storage, handling, processing, oils and feedstocks. Its activities and assets underpin the revenue, cost, output and other performance measures presented in the company disclosures. The reported results and guidance cover the dates identified in each release, separate from the 27 October share-market quotation.

Risks and Catalysts on Watch

GrainCorp described pressure from grain oversupply, reduced grower selling incentives and lower margins. It also disclosed the timing and expenditure of its systems transformation, alongside FY26 earnings guidance.

Developments to Follow

GrainCorp scheduled its FY26 results for 12 November 2026. Management expected FY26 underlying EBITDA around the midpoint of AUD 200mn–240mn.