Worley shares tumbled 10% to A$10.02 on Wednesday after the engineering services group reported a 10.8% decline in underlying earnings before interest, tax, depreciation and amortization (EBITA) to A$734 million for the fiscal year ended June 2026.
Revenue remained broadly flat at A$12.0 billion, reflecting mixed regional performance. The company attributed weaker profitability to A$58 million in project deferrals linked to the prolonged Middle East conflict and a A$50 million foreign exchange headwind from a stronger Australian dollar. Transformation and restructuring costs further reduced earnings by A$120 million during the period.
Chief Executive Chris Ashton noted that while activity in the Americas remained robust, softer conditions in other regions and geopolitical disruptions constrained growth. The S&P/ASX 200 index rose 0.56% to about 9,215 points, leaving Worley among the index’s weakest performers.
Looking ahead, Worley guided for mid-to-high single-digit increases in both revenue and underlying EBITA for the fiscal year ending June 2027, signaling cautious optimism despite near-term headwinds.
