What Did SRG Global (ASX:SRG) Report for FY26, and How Did It Upgrade FY27 Guidance?

Sonal Goyal

21 October 2026 05:31 PM AEDT

What Did SRG Global (ASX:SRG) Report for FY26, and How Did It Upgrade FY27 Guidance?

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Key highlights

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

On 21 October 2026, SRG Global Ltd (ASX:SRG) finished the session at $3.42, up 0.29%. The S&P/ASX 200 Industrials [XNJ] ended at 8,113.90 (+0.99%, +79.50 points) and the S&P/ASX 200 [XJO] at 8,831.30 (+0.16%, +14.40 points) at 4:25 pm GMT+11. SRG Global is an Australian provider of asset maintenance, mining services, engineering and construction services.

What SRG Global does

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.

Sector context

Industrial companies span transport, infrastructure, engineering, services and manufacturing, and they are tracked through the S&P/ASX 200 Industrials index, which closed at 8,113.90, up 0.99%, on 21 October 2026 alongside a 0.16% rise in the S&P/ASX 200 to 8,831.30. Maintenance and mining services contractors depend on resource and infrastructure customers’ operating and capital budgets.

Risks and uncertainties

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 to 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.

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