Macmahon Holdings Limited Q2 2026 Earnings Recap

Macmahon's first half of 2026 demonstrated strong growth, with revenue increasing 11% to $1.3 billion and a marked improvement in underlying EBITDA and EBITA, reflecting the successful integration of civil infrastructure and mining operations into its growth strategy.

Key Takeaways

• Revenue increased by 11% to $1.3 billion, driven by robust contributions from both mining and civil infrastructure sectors.
• Underlying EBITDA rose 10% to $200 million, alongside a 17% increase in EBITA to $91 million, positioning the company for strong full-year results.
• The interim dividend was increased to $0.0095 per share, highlighting confidence in sustained earnings growth and cash flow generation, supported by a free cash flow of $39.3 million.
• A strong order book amounting to $5.1 billion and a tender pipeline of $25.6 billion signals positive prospects for future revenue, with 50% expected to be awarded in the next 12 months.
• Significant improvement in ROACE to 21.2%, underscoring effective capital allocation strategies and diversification efforts in core sectors.