Major contract mining and drilling company Perenti says it continues to see growing momentum in its North America business as it reported flat global fiscal 2026 first-half revenue alongside an Australia and North America dominated A$18.6 billion work pipeline.
Perenti said revenue of $1.73 billion was in line with its record FY25 first-half. EBIT was 3% higher year-on-year at $160.1 million and net profit was up 11% yoy at $70.5 million.
The company “tightened” its full-year guidance to $3.45-3.55 billion of revenue (previously $3.45-3.65b) and $335-350m EBITA ($335-355m) due to a rising Australia-US-dollar exchange rate and cut FY26 capex from $340m to $325m. It expects full-year free cash flow to be higher at more than $170 million (plus-$160m previously).
“Delayed deployment of capital expenditure has lifted expectations for free cash flow for the full year,” Perenti said.
“North American growth is gaining momentum, expanding from zero projects in FY19 to eight projects underway in FY26.
“The pipeline of opportunities ahead demonstrates that further growth in North America is available with a current pipeline of $6 billion pipeline in that region.”
That compares with a $7.5 billion pipeline in Perenti’s domestic market of Australia and $4.2b in long-term group stronghold, Africa.
Perenti’s current $5.8 billion work-in-hand is dominated by Australian and West African gold contracts (circa-80% of the total).
Perenti’s market capitalisation has doubled over the past 12 months to about $2.27 billion.
