Perenti (ASX:PRN) delivered its financial performance for the first half of 2026, maintaining momentum from its record-breaking 2025 results.
The mining services group reported revenue of $1.73 billion, consistent with the previous period, while achieving a 12% increase in underlying NPAT(A) to $91.8 million.
Profitability metrics showed notable strength, with EBIT(A) rising 3% to $160.1 million and margins expanding to 9.3%.
The financial discipline supported an interim dividend of 3.25 cents per share, marking an 8.3% increase for shareholders.
Perenti has adjusted its FY26 full-year guidance, primarily citing a rising AUD:USD exchange rate.
The revenue forecast has been tightened to a range of $3.45–$3.55 billion, while EBIT(A) is now expected between $335 million and $350 million.
However, the company remains optimistic, noting that earnings are traditionally weighted toward the second half.
Free cash flow expectations were actually upgraded to "greater than $170 million," supported by a reduction in planned net capital expenditure to approximately $325 million.
Operational outlook remains positive, particularly in North America, where contract mining and drilling services are seeing material increases in tender activity.
Managing Director Mark Norwell emphasised that the group is well-positioned for a strong finish to the year, driven by high utilisation rates and a disciplined approach to capital allocation.