Worley shares lift on $300m share buyback, executive changes
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The news: Engineering services company Worley has seen its share lift after announcing a new on-market share buyback of up to $300 million as part of its capital management initiatives.
Worley also announced that from 1 July 2026, Andy Hemingway will begin as group president major projects and programs while Mark Trueman will become group president chief commercial and development officer.
The numbers: At 10:26am AEST, shares in Worley had lifted 2.8% to $12.30.
The new share buyback follows the completion of a $500 million buyback program that wrapped up on 22 April 2026.
The context: The buyback program was announced at the engineering company’s 2026 investor day. The company said it reflects the “board’s confidence in the company’s financial position and growth outlook and its commitment to delivering shareholder value”.
Timing of the buyback is subject to market conditions, price and “other factors”.
The company downgraded its FY26 earnings guidance in mid-April due to the impact of conflict in the Middle East.
The source: ASX
