Worley shares jump on $300M buyback news

Worley (ASX:WOR) shares jumped more than 2.8% following the announcement of a fresh $300 million on-market share buyback.

Unveiled during the engineering giant’s 2026 investor day, the capital management initiative underscores a robust commitment to delivering shareholder value despite recent macroeconomic headwinds.

The new programme follows hot on the heels of a $500 million buyback completed just last month, signalling the board's unwavering confidence in the company's long-term growth trajectory and balance sheet resilience.

In tandem with the financial manoeuvres, Worley announced a strategic executive realignment effective July 1.

Andy Hemingway is set to take the reins as group president of major projects and programmes, while Mark Trueman will transition into the role of group president, chief commercial and development officer.

These leadership changes are designed to streamline project delivery and bolster commercial development as the firm navigates a shifting global landscape.

While the timing of the buyback remains subject to market conditions and price fluctuations, the move serves as an olive branch to investors.

It follows a challenging period in mid-April when the company was forced to downgrade its FY26 earnings guidance, citing operational disruptions caused by ongoing conflict in the Middle East.

At the time of reporting, Worley’s share price was $12.08.