Fleetwood reported a 13% decline in underlying earnings before interest and tax to $35.6 million for the year ended June 30, 2026, as restructuring costs tied to factory closures and business exits weighed on results. The company’s Community Solutions segment delivered record earnings of $50 million, up 28% from the prior year, driven by higher occupancy at its Karratha accommodation villages.
Total restructuring expenses reached $29.6 million, including $15.4 million related to the closure of the Smithfield factory in New South Wales and $9.2 million expected in the second half of fiscal 2027 to complete the exit from RV Solutions. Despite these charges, Fleetwood generated $35.9 million in free cash flow, an increase of $8.9 million from the prior year, and ended the period with $61.5 million in net cash and no debt.
The Building Solutions segment reported an underlying EBIT loss of $8.7 million, a $19.7 million decline from the prior year’s $11 million profit, as revenue fell 9% to $323.5 million. The segment’s order book stood at $156 million as of June 2026, up from $100 million a year earlier, with education, housing and commercial projects accounting for the majority of activity. Management expects revenue growth of more than 5% in fiscal 2027.
Community Solutions revenue rose 22% to $93.8 million, with EBIT margin expanding to 53.3%. The Searipple Village in Karratha reached 96% occupancy in FY26, up from 84% in FY25, while the acquired Red Dog Village is expected to contribute between $10 million and $20 million in annualized EBIT. The combined platform now comprises 3,419 rooms, representing roughly 45% of the transient worker accommodation supply in Karratha.
Fleetwood returned $21.6 million to shareholders during the year, including a fully franked final dividend of 9.5 cents per share and a $4.2 million share buyback that canceled 2.5 million shares. Underlying return on capital employed rose to 44.1% from 32.9% in FY25.
The company’s shares rose 5.3% to $2.58 following the results presentation.
