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LendLease Group (LLESY)
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LLESY
LendLease Group
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LendLease Group (LLESY) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Aug 17, 2026
TBA (Confirmed)
Period Ending
2026 (Q4)
Consensus EPS Forecast
-0.14
Last Year’s EPS
0.25
Same Quarter Last Year
Analyst Consensus
―
Based on 0 Analysts Ratings

Earnings Call Summary

Q2 2026
Earnings Call Date:Feb 22, 2026|
% Change Since:
|
Earnings Call Sentiment|Neutral
The call balanced clear operational positives—notably strong Construction revenue growth (+22%), backlog expansion (+36%), stable Funds Under Management ($48.7bn), tangible liquidity ($3.3bn) and active development origination—with meaningful near-term financial headwinds driven by CRU impairments/write-downs, an IDC EBITDA decline (~40%), elevated gearing (32.9% excluding hybrids) and dependence on ~$3bn of asset transactions to hit the 15% gearing target. Management has concrete plans (cost savings, targeted capital recycling, internal CFO succession) and reiterated IDC guidance, but successful execution and timing of transactions are critical to restore profitability and leverage metrics.
Company Guidance
Management maintained IDC FY‑26 earnings guidance of $0.28–$0.34 per security (H1 delivered $0.126, so H2 must deliver $0.154–$0.214), gave no FY‑26 EPS guidance for CRU while it focuses on capital recycling, and reiterated targets to complete $3.0bn of announced/active transactions in H2 (including ~ $640m of contracted Crown Estate/TRX transactions, >$1.0bn in exclusivity for Keyton/UK BTR/APPF recap, plus Victoria Cross and others), with CRU targeting $2.0bn of recycling in FY‑26 (H1 achieved $500m; $1.5bn targeted for H2). They target underlying gearing of 15% by end FY‑26 (reported gearing 25.8% including hybrids; excluding hybrids 32.9%), expect reported net debt (ex‑hybrid) of $3.3bn to reduce as the $3.0bn of transactions settle, and retain available liquidity of $3.3bn (comprising $2.7bn undrawn facilities and $600m cash) with average debt maturity 2.5 years. Guidance factors in expected net production spend (~$400m IDC and ~$200m CRU), a $50m cost‑saving program with an exit overhead run‑rate target of ~ $350m by end FY‑26 (H1 net overheads $197m; $21m pretax run‑rate savings actioned in H1), and a medium‑term outlook of IDC recovery into FY‑27 (Development completions: H1 $1.3bn; FY‑27 target ~ $4.5bn; FY‑28 target $3.9bn), Construction revenues >$4.5bn in FY‑27 and >$5.0bn in FY‑28 with sustainable EBITDA margins of 3–4%, and Investments driving margin and FUM expansion (management EBITDA >40% in FY‑27 moving toward ~50% by FY‑30, FUM growth 8–10% p.a., FUM $48.7bn, $2.8bn available capital and $4.7bn of capital being raised).
Progress on Capital Recycling (CRU) Transactions
Announced/completed exit of $2.8 billion of CRU assets and $500 million of new asset sales in the half; targeting a further $1.5 billion (and $3 billion total announced/active transactions) to complete in H2 FY'26 to support gearing reduction and potential buyback initiation.
Strong Construction Performance and Backlog Growth
Construction revenue increased 22% for the half, Construction EBITDA rose to $69 million with an EBITDA margin of 3.7%. New work secured of $4.0 billion and Australian backlog revenue of $8.0 billion (up 36% on FY'25) with ~ $15 billion of secured and preferred work (backlog + preferred).
Investment Platform Scale and Activity
Funds under management stable at $48.7 billion including $1.5 billion of additions; $2.9 billion of co-investment capital held; completed $4.4 billion of gross property transactions across the platform; gross co-investment yield steady at 4.4%.
Development Pipeline Progress
Development completions of $1.3 billion (including Victoria Cross); gross apartment presales increased to $3.3 billion (settlements weighted to FY'27, expected gross cash proceeds ~ $1 billion to Lendlease); secured $4.7 billion of new projects in the half and pursuing targets to reach $10+ billion for FY'26.
Liquidity and Balance Sheet Flexibility
Available liquidity of $3.3 billion (comprising $2.7 billion undrawn committed debt and $600 million cash) and recent hybrid issuances provided flexibility; reported net debt (excluding hybrids) closed at $3.3 billion.
Cost Savings and Overhead Reduction
Net overheads reduced $58 million to $197 million (run rate below $400 million). Pretax run-rate savings of $21 million actioned in the half; targeting $50 million of savings (full benefit expected in FY'27) and an exit overhead run rate ~ $350 million by end FY'26.
Maintained IDC Earnings Guidance and H2 Upside
IDC earnings guidance maintained at $0.28–$0.34 per security; first half IDC delivered $0.126 per security, implying H2 delivery of $0.154–$0.214 per security. Management expects stronger IDC H2 supported by operational delivery and key transactional completions.
Leadership Succession (Finance)
Planned CFO transition with Simon Dixon remaining in an advisory role (chairing CRU) and Andrew Nieland (internal candidate) appointed as incoming CFO effective 1 March, supporting continuity in execution.

LendLease Group (LLESY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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LLESY Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Aug 17, 2026
2026 (Q4)
-0.14 / -
0.247―――
Feb 22, 2026
2026 (Q2)
0.03 / -0.33
0.113-392.04% (-0.44)
Aug 17, 2025
2025 (Q4)
0.25 / 0.25
0.19526.67% (+0.05)
Feb 16, 2025
2025 (Q2)
0.13 / 0.11
0.05894.83% (+0.06)
Aug 18, 2024
2024 (Q4)
0.19 / 0.20
0.12457.26% (+0.07)
Feb 18, 2024
2024 (Q2)
0.17 / 0.06
0.106-45.28% (-0.05)
Aug 13, 2023
2023 (Q4)
0.13 / 0.12
0.22-43.64% (-0.10)
Feb 12, 2023
2023 (Q2)
0.13 / 0.11
0.1014.95% (<+0.01)
Aug 21, 2022
2022 (Q4)
0.22 / 0.22
0.032587.50% (+0.19)――
Feb 20, 2022
2022 (Q2)
0.10 / 0.10
0.197-48.73% (-0.10)――
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed

FAQ

When does LendLease Group (LLESY) report earnings?
LendLease Group (LLESY) is schdueled to report earning on Aug 17, 2026, TBA (Confirmed).
    What is LendLease Group (LLESY) earnings time?
    LendLease Group (LLESY) earnings time is at Aug 17, 2026, TBA (Confirmed).
      Where can I see when companies are reporting earnings?
      You can see which companies are reporting today on our designated earnings calendar.
        What companies are reporting earnings today?
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          What is LLESY EPS forecast?
          LLESY EPS forecast for the fiscal quarter 2026 (Q4) is -0.14.