Record Work in Hand Accompanies SRG Global (ASX:SRG) Earnings Growth – Details Here

Sonal Goyal

22 October 2026 05:23 PM AEDT

Record Work in Hand Accompanies SRG Global (ASX:SRG) Earnings Growth – Details Here

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key highlights

SRG Global Ltd (ASX:SRG) shares were down 1.02% at $3.385 during the trading session on 22 October 2026, while the S&P/ASX 200 Industrials [XNJ] index was up 1.05%.
SRG Global reported FY26 revenue of $1,675.5 million, up 27%, and underlying EBITDA of $170.1 million, up 34%, in its 18 August 2026 release.
Work in hand reached a record $5.1 billion, up 42%, and the company moved to net cash of $6.2 million.

On 22 October 2026, SRG Global Ltd (ASX:SRG) shares were lower by 1.02% at $3.385 in the trading session. For reference, the S&P/ASX 200 Industrials [XNJ] was at 8,199.50, higher by 1.05% or 85.60 points, the S&P/ASX 200 [XJO] at 8,788.70, higher by 0.48%, and the All Ordinaries at 8,911.80, higher by 0.50%, as at 3:55 pm GMT+11. SRG Global is an Australian provider of asset maintenance, mining services, engineering and construction services. SRG Global reported FY26 revenue of $1,675.5 million, up 27%, and underlying EBITDA of $170.1 million, up 34%, in its 18 August 2026 release.

Share price snapshot

At $3.385, SRG Global Ltd (ASX:SRG) shares were down 1.02% during the trading session on 22 October 2026. Over the same session, the S&P/ASX 200 Industrials [XNJ] index was up 1.05% (85.60 points) at 8,199.50, the S&P/ASX 200 [XJO] was up 0.48% at 8,788.70 and the All Ordinaries was up 0.50% at 8,911.80, as at 3:55 pm GMT+11. The figures are intraday readings during the session and can change as trading continues. The company’s most recent announcement covered in this article is its FY26 results.

About SRG Global Ltd: business overview

SRG Global Ltd provides asset maintenance, mining services and engineering and construction services to clients in resources, infrastructure and utilities. It acquired TAMS, a marine infrastructure services provider with long-term relationships with port authorities, during FY26.

FY26 results

In an ASX release dated 18 August 2026, SRG Global reported FY26 revenue of $1,675.5 million, up 27%, underlying EBITDA of $170.1 million, up 34%, and EBIT(A) of $131.8 million, up 41%. EBITDA exceeded upgraded guidance given in June 2026. EPS(A) was 13.8 cents, up 34%, and EBITDA to cash conversion was 101%. The company moved to net cash of $6.2 million from pro forma net debt of $52.5 million after the TAMS acquisition.

Dividends, work in hand and TAMS

A fully franked second-half dividend of 4.0 cents per share, up 33%, took the total FY26 dividend to 7.0 cents, up 27%. Work in hand reached a record $5.1 billion, up 42%. The company said TAMS delivered about 10% above its business case over its first eight months and is fully integrated.

FY27 guidance

SRG Global upgraded FY27 guidance to EBITDA of $195–205 million and EBIT(A) of $150–160 million.

Related sector context

Engineering, contracting and essential-services companies are influenced by government and private infrastructure spending, resources and energy capital programs, labour availability and project execution. On 22 October 2026, the S&P/ASX 200 Industrials [XNJ] index was at 8,199.50, up 1.05%, and the S&P/ASX 200 was at 8,788.70, up 0.48%. Their results are typically reported through revenue, margin, work in hand and new contract awards, and contract timing can move between reporting periods.

Work-in-hand and order book figures are widely used in the segment because they show contracted activity that has not yet been converted to revenue. Contract awards are announced to the market when they are material, and extensions or renewals can add to the period covered by existing agreements.

Risks to weigh in

Growth included the acquired TAMS business, and FY27 guidance depends on work in hand converting to revenue at forecast margins. Customer spending, labour costs, contract delays and acquisition integration can affect results.

Catalysts on watch

Items to watch include work in hand conversion, new contract awards, further acquisitions and the first-half FY27 result.

Closing perspective

SRG Global’s 18 August 2026 release reported higher revenue, earnings and work in hand and upgraded FY27 guidance. The next result will show how guidance tracks.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.