SRG Global shares surge on $1.85b contract wins, upgraded FY26 guidance
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The news: SRG Global led ASX 200 gains after the diversified infrastructure services company secured $1.85 billion in contracts across several industries and upgraded its FY26 EBITDA guidance.
Shares climbed 11.2% to $3.49 at 11:17am AEST.
The context: The company has secured numerous contracts spanning water, defence, energy, industrial, resources, ports, data centres, health and education.
The contracts include, but are not limited to, an eight-year contract with Gympie Regional Council to deliver key water infrastructure, ongoing works with the Western Australian defence sector, a seven-year contract with Origin Energy to provide inspection services across its Queensland operations, and a structures contract for the Maddington Data Centre in Perth.
SRG also lifted its FY26 EBITDA guidance to the top end of its prior target range of $164 million to $168 million, and initiated FY27 EBITDA guidance of $190 million to $200 million, which is above current market consensus.
What they said: “This reflects the strength of our diversified operating model, the quality of our client based and our strong track record of delivering and exceeding market expectations,” SRG Global managing director David Macgeorge said.
“The company is exceptionally well positioned to continue to deliver long-term sustainable growth,” he added.
The source: ASX
