Emeco Holdings Launches 10% On-Market Buy-Back After FY26 Earnings Rise

The Force segment, which provides equipment maintenance and rebuild services, generated total revenue of $276.8 million, up 1%. Gross operating EBIT rose 6% to $29 million as field service hours increased 37% and internal rebuild demand grew. Operating free cash flow before adjustments reached $127.6 million, with cash conversion of 108%.

Net debt was cut by $67.8 million to $127.1 million. Emeco had about $315 million of liquidity at June 30, including $125.4 million in cash and $190 million of undrawn revolving debt. The group refinanced with a $355 million revolving syndicated facility maturing in December 2030, extending its debt maturity profile and preserving capacity for investment.

“This financial year demonstrates that we have built a resilient, cash-generative business capable of delivering strong earnings,” chief executive Ian Testrow said. “We have set up a solid platform for growth, and this is evidenced in the expansion of our maintenance service business.”

Capital expenditure is forecast at $155 million to $165 million net of asset disposals. Depreciation is expected at $145 million to $150 million, with enterprise resource planning spend around $5 million. The group expects the utilisation run rate to support earnings growth in FY28 consistent with its 20% return on capital target.

Emeco operates in-house telemetry across more than 200 machines and is developing AI and machine learning tools for predictive maintenance and reliability analysis, the company said.