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Lendlease Group (LLESF)
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LLESF
Lendlease Group
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Lendlease Group (LLESF) 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
0.11
Last Year’s EPS
0.27
Same Quarter Last Year
Analyst Consensus
Moderate Buy
Based on 4 Analysts Ratings

Earnings Call Summary

Q2 2026
Earnings Call Date:Feb 22, 2026|
% Change Since:
|
Earnings Call Sentiment|Neutral
Balanced/Neutral — The call highlighted meaningful operational progress: strong construction revenue growth (+22%), a growing development pipeline and active investment platform (FUM stable at $48.7 billion), solid liquidity of $3.3 billion, and clear capital recycling plans (completed/announced $2.8 billion and targeting $3.0 billion of transactions). However, those positives were offset by significant near‑term weakness: statutory and operating losses (statutory loss $318m; OPAT loss $200m), a large CRU EBITDA loss (~$284m) driven by noncash impairments and provisions (~$180m pre‑tax), and elevated underlying gearing (32.9% excluding hybrids) that is dependent on timely completion of transactions to reach the 15% gearing objective. Management presented credible remediation actions (cost savings, targeted disposals and a clear roadmap), but execution and transaction timing remain key risks.
Company Guidance
Management reiterated FY'26 guidance that IDC earnings are expected to be $0.28–$0.34 per security (H1 delivered $0.126/sec, implying H2 must deliver $0.154–$0.214/sec), and reconfirmed a target underlying group gearing of 15% by end‑FY'26 (H1 reported gearing 25.8% including hybrid benefit, 32.9% excluding it) supported by a pipeline of announced and active transactions of about $3.0 billion (including ~$0.64bn contracted TRX/Crown Estate items, >$1.0bn in three exclusivities and other assets) and a CRU recycling target of $2.0 billion for FY'26 (H1 progress $0.5bn; target additional $1.5bn in H2); liquidity at $3.3bn (comprised of $2.7bn undrawn debt + $0.6bn cash) and reported net debt (ex‑hybrid) of $3.3bn are expected to fall as transactions settle, with estimated net production spend of ~A$400m (IDC) and ~A$200m (CRU) in the period; cost savings of A$50m are being pursued (A$21m run‑rate actioned in H1) to hit an overhead exit run‑rate of ~A$350m by end FY'26; plus medium‑term targets include FUM growth of 8–10% p.a. (FUM A$48.7bn with A$1.5bn additions and A$4.7bn being raised), Investment management margins >40% in FY'27 rising toward 50% by FY'30, Development completions of ~A$4.5bn in FY'27 (FY'28 ~A$3.9bn) and Construction revenues to exceed A$4.5bn in FY'27 and A$5bn in FY'28 with sustainable EBITDA margins of 3–4%.
Progress on Capital Recycling (CRU) Exits
Completed or announced exits of $2.8 billion of CRU assets; $500 million of new asset sales in the half; targeting a further $1.5 billion of CRU asset transactions in H2 (and targeting $2 billion of CRU recycling in FY'26 overall) with a broader $3.0 billion of announced/active IDC + CRU transactions targeted to complete in H2 FY'26.
Strong Liquidity and Balance Sheet Flexibility
Available liquidity of $3.3 billion comprising $2.7 billion committed undrawn debt and $600 million cash; reported net debt (ex-hybrid) of $3.3 billion and debt maturities well balanced with average maturity ~2.5 years.
Construction Segment Outperformance
Construction revenue grew 22% year‑on‑year driven by new project commencements; Construction EBITDA of $69 million with a 3.7% EBITDA margin; $4.0 billion of new work secured in the half and Australian backlog revenue of $8.0 billion, up 36% versus FY'25; secured + preferred work ~ $15 billion.
Development Pipeline Growth and Completions
$1.3 billion of development completions in the half (including Victoria Cross); gross apartment presales increased to $3.3 billion with settlements weighted to FY'27 expected to deliver ~ $1.0 billion gross cash proceeds to Lendlease; > $4.7 billion of new projects secured in the half and FY'26 target of $10+ billion pipeline replenishment remains on track.
Investment Platform Stability and Growth
Funds under management stable at $48.7 billion (including $1.5 billion additions); co‑investment capital $2.9 billion with a gross yield of 4.4%; $2.8 billion of capital available to deploy and $4.7 billion of capital being raised for new mandates; completed $4.4 billion of gross property transactions across the investment platform in the period.
Cost Reduction Progress
Net overheads reduced by $58 million to $197 million (run rate below $400 million); pretax run‑rate savings of $21 million actioned in the half; $50 million targeted savings expected to be fully realised in FY'27 with exit overhead run rate target of ~ $350 million by end FY'26.
Maintained IDC Earnings Guidance and H2 Upside Potential
IDC delivered $0.126 per security in H1; FY'26 IDC guidance maintained at $0.28–$0.34 per security (implying H2 IDC of $0.154–$0.214 per security), with H2 upside linked to timing of Crown Estate JV and TRX completions and continued operational delivery across Investments, Development and Construction.

Lendlease Group (LLESF) 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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LLESF 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)
0.11 / -
0.265―――
Feb 22, 2026
2026 (Q2)
0.03 / -0.33
0.124-363.84% (-0.45)
Aug 17, 2025
2025 (Q4)
0.27 / 0.27
0.20231.03% (+0.06)
Feb 16, 2025
2025 (Q2)
0.14 / 0.12
0.061101.14% (+0.06)
Aug 18, 2024
2024 (Q4)
0.21 / 0.20
0.13451.04% (+0.07)
Feb 18, 2024
2024 (Q2)
0.18 / 0.06
0.106-42.11% (-0.04)
Aug 13, 2023
2023 (Q4)
0.14 / 0.13
0.224-40.19% (-0.09)
Feb 12, 2023
2023 (Q2)
0.14 / 0.11
0.0988.57% (<+0.01)
Aug 21, 2022
2022 (Q4)
0.22 / 0.22
0.031629.55% (+0.19)――
Feb 20, 2022
2022 (Q2)
0.14 / 0.10
0.174-43.78% (-0.08)――
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 (LLESF) report earnings?
Lendlease Group (LLESF) is schdueled to report earning on Aug 17, 2026, TBA (Confirmed).
    What is Lendlease Group (LLESF) earnings time?
    Lendlease Group (LLESF) 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 LLESF EPS forecast?
          LLESF EPS forecast for the fiscal quarter 2026 (Q4) is 0.11.