Fleetwood NPAT drops to $2.4M in FY26

• Fleetwood reported a net profit after tax of $2.4 million for FY26, down $12.1 million from the prior year.
• The company's underlying EBIT fell to $35.6 million while closing cash rose to $61.5 million.
• A portfolio simplification and exit from non-core operations drove the strategic realignment during the period.

Fleetwood (ASX:FWD) reported a full-year net profit after tax of $2.4 million for the period ended June 30, representing a $12.1 million drop compared to the prior year.

The earnings decline was primarily driven by $29.6 million in non-recurring restructuring expenses associated with exiting the RV Solutions division and closing the Smithfield facility.

"Community Solutions delivered exceptional results, underpinned by high occupancy at Searipple, while Building Solutions faced operational challenges that impacted profitability," said Fleetwood CEO Andrea Pidcock.

Building Solutions recorded an underlying EBIT loss of $8.7 million on revenue of $323.5 million, while community solutions generated EBIT of $50 million on revenue of $93.8 million.

The board declared a fully franked final dividend of 9.5 cents per share, bringing total full-year dividends to 19 cents per share.

Following the announcement, the Fleetwood share price was up at $2.58.

The company's portfolio restructuring included entering a binding agreement to sell the Camec assets for $9.5 million, with completion expected on Sept. 1.

Free cash flow increased by $8.9 million to $35.9 million over the fiscal year, while total capital returned to shareholders via dividends and share buybacks reached $21.6 million.