SRG Global (ASX:SRG) Posts Record FY26 Result and Upgrades FY27 Guidance: How the Industrial Services Group Performed

Sonal Goyal

06 November 2026 06:24 PM AEDT

SRG Global (ASX:SRG) Posts Record FY26 Result and Upgrades FY27 Guidance: How the Industrial Services Group Performed

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Key Highlights

SRG Global (ASX:SRG) closed at $3.32 on 6 November 2026, down 2.64%, while the S&P/ASX 200 Industrials index fell about 0.02%.
FY26 Revenue rose 27% to $1,675.5 million and underlying EBITDA rose 34% to $170.1 million.
The company upgraded FY27 EBITDA guidance to $195 million to $205 million, and reported record work in hand of $5.1 billion.

SRG Global Ltd (ASX:SRG) closed at $3.32 on 6 November 2026, down 2.64% for the trading session. The S&P/ASX 200 Industrials index (XNJ) closed at 8,421.00, down 1.80 points or about 0.02%, and the S&P/ASX 200 closed at 9,020.80, up 0.49%. The All Ordinaries finished at 9,144.70, up 0.66%. SRG provides industrial and infrastructure services across sectors including water, energy, resources, transport, defence, and ports and marine.

Latest Developments

Investor Briefing Notice (18 August 2026)

On 18 August 2026, SRG announced that Managing Director David Macgeorge and Chief Financial Officer Roger Lee would host an investor briefing on FY26 performance and the outlook for FY27. The briefing was scheduled for 9.00am WST and was made available on the company's website after the session.

FY26 Results and FY27 Guidance (18 August 2026)

SRG reported FY26 revenue of $1,675.5 million, up 27%. Underlying EBITDA reached $170.1 million, up 34%, and underlying EBIT(A) was $131.8 million, up 41%. EBITDA to cash conversion was 101%. The company moved back to a net cash position of $6.2 million, from proforma net Debt of $52.5 million after the TAMS acquisition.

Earnings per share rose 34% to 13.8 cents, and the total FY26 Dividend increased 27% to 7.0 cents per share, including a fully franked second-half dividend of 4.0 cents. The release said FY26 EBITDA exceeded the upgraded guidance range of $164 million to $168 million.

The company upgraded FY27 guidance to EBITDA of $195 million to $205 million and EBIT(A) of $150 million to $160 million. Work in hand reached a record $5.1 billion, up 42%.

About the Company

SRG Global provides end-to-end asset life cycle services, covering design, construction, maintenance and engineering. Its client base includes government and Blue-Chip clients in water, energy, resources, transport, defence, ports and marine, and health sectors. The company's marine infrastructure services were expanded through the Acquisition of TAMS, a provider with a 25-year history of working with port authorities.

Management said TAMS delivered about 10% above its Business case in the first eight months after joining the group and is now fully integrated.

Sector Context

Industrial and infrastructure services are linked to public and private capital expenditure. Government spending on maintenance and upgrades for ports, transport networks and water systems supports demand, while resources and energy projects drive additional work. Long-term contracts and an order book give visibility on future revenue.

Acquisitions in marine infrastructure and the integration of new capabilities are common growth routes in the sector, and SRG's record work in hand was presented as evidence of Demand across its end markets.

Risks to Watch

Integration of acquired businesses requires management attention and can affect margins if costs or customer retention differ from expectations. The company's guidance also depends on delivering work across a range of projects and clients.

Industrial services businesses are exposed to the timing of government budgets, project delays, and changes in resource and energy spending. Cash conversion and Working Capital movements can vary from period to period.

Catalysts on Watch

Delivery against the upgraded FY27 guidance of EBITDA between $195 million and $205 million and EBIT(A) between $150 million and $160 million will be a key reference for future updates. Conversion of the record $5.1 billion work in hand into revenue is another item to track.

Further detail on the TAMS contribution and any new contract awards may also be relevant to investors.

Closing Remarks

SRG finished FY26 with record revenue, a return to net cash and an upgrade to FY27 guidance. Its shares closed at $3.32 on 6 November 2026, down 2.64%, which was weaker than the wider Industrials benchmark for the session. The company's upcoming results and contract updates will show how the forecast is tracking.

FAQs

Q: What was SRG Global's share price on 6 November 2026?

A: SRG Global (ASX:SRG) closed at $3.32 on 6 November 2026, down 2.64% for the trading session.

Q: What were the key FY26 results?

A: Revenue rose 27% to $1,675.5 million, underlying EBITDA rose 34% to $170.1 million, and EPS rose 34% to 13.8 cents.

Q: What is SRG's FY27 guidance?

A: The company upgraded FY27 guidance to EBITDA of $195 million to $205 million and EBIT(A) of $150 million to $160 million.

Q: What is TAMS?

A: TAMS is a marine infrastructure services provider that SRG acquired and integrated, and the company said it has a 25-year history of working with port authorities.

Q: What was the total FY26 dividend?

A: The total FY26 dividend was 7.0 cents per share, up 27% on FY25.

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