Peet FY26 earnings: Profit and dividend surge on record sales

The Peet Ltd (ASX: PPC) share price is in focus after the company delivered record earnings for FY26, on the back of strong sales and robust performance in Western Australia and Queensland.

What did Peet report?

• Net operating profit of $103.4 million, up 77% on the prior year
• Operating earnings per share of 22.1 cents, also up 77%
• Total FY26 fully franked dividends of 13.0 cents per share, up 68%
• Revenue rose 3% to $450.2 million
• EBITDA grew 54% to $162.8 million, with margin expanding to 36%
• Contracts on hand increased 39% to $851 million

What else do investors need to know?

Peet sold 2,996 lots during the year, up 8%, while settlements rose to 2,665 lots. The group’s development pipeline remains extensive, comprising more than 26,400 lots across 37 projects with an estimated end value of $11.5 billion.

Gearing reduced to 24.8%, while the company maintained a strong balance sheet with net debt decreased to $201.3 million. Peet also increased its activated pipeline to 80%, offering solid visibility for future earnings.

What did Peet management say?

Chief Executive Officer Brett Fullarton said:

FY26 represents another exceptional year for Peet, with record operating profit, significant earnings growth and increased returns to shareholders. The result reflects the strength of our national portfolio, favourable conditions across several of our key markets and the disciplined execution of our strategy.

What’s next for Peet?

Peet enters FY27 in a strong financial position with $851 million in contracts on hand and a highly activated project portfolio. The company expects to benefit from ongoing demand in Western Australia, Queensland, and South Australia, while remaining alert to improvements in Victoria and NSW/ACT.

Management highlighted positive structural factors for the residential housing sector, including population growth, limited supply, and policy support for buyers. Peet intends to leverage its pipeline and balance sheet strength to pursue growth opportunities, mindful of settlement timing and broader market conditions.

Peet share price snapshot

Over the past 12 months, Peet shares have risen 3%, slightly outperforming the All Ordinaries Index (ASX: XAO), which has increased 1% over the same period.

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