Austal Posts Strong H1 FY2026 and Secures Record $17.7bn Order Book

The latest announcement is out from Austal ( (AU:ASB) ).

Austal reported a strong first half for FY2026, with revenue rising 34.4% to $1.1 billion and EBIT increasing 41.3% to $60.3 million, driven by a significant earnings turnaround in its Australasian operations that offset weaker U.S. performance amid facility expansion. Net profit after tax grew 21.4% to $30.5 million, while the company’s net cash position declined to $241.4 million as it accelerated capital expenditure on expanding U.S. manufacturing capacity and opted against paying an interim dividend.

The order book reached a record $17.7 billion as of 20 February 2026, underpinned by about A$5 billion in new Australian defence contracts to design and build Landing Craft Medium and Heavy vessels under a Strategic Shipbuilding Agreement with the Australian Government. These long-term defence programs are expected to sustain elevated activity in Austal’s Australasian operations and enhance its resilience and diversification, positioning the company to capture further defence opportunities in both Australia and the U.S., even as second-half earnings are forecast to be lower than the unusually strong H2 FY2025.

The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.

More about Austal

Austal Limited is an Australian-based shipbuilder focused on defence and commercial vessels, with major operations in Australasia and the U.S. The company designs, constructs and supports naval platforms, including landing craft and other strategic vessels, and is increasingly aligned with long-term defence programs in Australia and the U.S. submarine industrial base.

YTD Price Performance: -10.76%

Average Trading Volume: 1,488,494

Technical Sentiment Signal: Buy

Current Market Cap: A$2.46B

For detailed information about ASB stock, go to TipRanks’ Stock Analysis page.