Reece reports $9.38B in FY26 sales revenue

• Reece Group increased its full-year sales revenue by 4.5% to $9.38 billion.
• The company reported a 2.8% decline in net profit after tax to $308 million amid flat EBITDA.
• The business expects momentum in Australia and New Zealand to offset slower US residential construction growth.

Reece (ASX:REH) increased its FY26 sales revenue by 4.5% to $9.38 billion as volumes recovered in ANZ and weak residential new construction continued to impact demand in the US.

The growth contrasted with bottom-line pressures, as net profit after tax declined 2.8% to $308 million.

Sales revenue in the US increased 6.5% to US$3.51 billion driven by network expansion, with inflation contributing approximately 2%.

The company reported flat EBITDA of $901 million and declared a fully franked final dividend of 13.40 cents per share.

"Throughout the year we focused on delivering our customer promise, progressing our innovation agenda and building out digital capabilities – all of which help us continue building a stronger business," said Reece Chairman & CEO Peter Wilson.

Net debt increased to $744 million from $590 million in FY25, driven by ongoing investment to support future growth and partial funding for the group’s share buyback programmes.

Following the announcement, the Reece share price was up at $16.54.

The business operates as a major distributor of plumbing, waterworks, and HVAC products across 900 international branches.