Worley Reports Solid H1 Earnings, Bookings Surge

CEO highlights revenue growth, resilient earnings, and major project wins despite dynamic market conditions

Published on Feb. 26, 2026

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Worley (ASX:WOR) reported solid financial results for the first half of fiscal year 2026, including 5.4% revenue growth to AUD 6.3 billion and steady underlying EBITA of AUD 377 million. The company also saw a 63% surge in bookings to AUD 9.8 billion, driven by major project wins like Venture Global CP2 Phase 1 and work for ConocoPhillips, OQ Refineries, and ExxonMobil. Management outlined a cost reset program aimed at improving earnings quality and supporting broader growth strategy.

Why it matters

Worley's strong first-half performance and growing backlog demonstrate the company's resilience in dynamic market conditions, as it continues to win major projects across the energy, chemicals, and resources sectors. The cost reset program is also a key initiative to drive efficiency and support Worley's long-term growth ambitions.

The details

Worley reported solid revenue growth of 5.4% to AUD 6.3 billion and steady underlying EBITA of AUD 377 million in the first half of fiscal year 2026. The company saw a 63% surge in bookings to AUD 9.8 billion, driven by major project wins like Venture Global CP2 Phase 1, EPC work for ConocoPhillips in Norway, FEED work for OQ Refineries in Oman, and construction for ExxonMobil's Baytown project in Texas. Backlog remained resilient at AUD 6.7 billion, providing revenue visibility. Worley also outlined a cost reset program aimed at improving earnings quality and supporting broader growth strategy.

  • Worley reported its first-half fiscal year 2026 results on February 26, 2026.

The players

Worley

An Australian professional services company that provides project and asset services to the energy, chemicals, and resources sectors worldwide.

Chris Ashton

Chief Executive Officer of Worley.

Justine Travers

Chief Financial Officer of Worley.

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What they’re saying

“The first half was defined by 'solid revenue growth and resilient earnings' despite what he described as dynamic markets.”

— Chris Ashton, Chief Executive Officer (transcriptdaily.com)

“Bookings were up 63% from the prior six-month period, totaling AUD 9.8 billion.”

— Chris Ashton, Chief Executive Officer (transcriptdaily.com)

What’s next

Worley expects to provide more details on the cost reset program and its impact on earnings in the second half of fiscal year 2026.

The takeaway

Worley's strong first-half performance, growing backlog, and cost optimization efforts demonstrate the company's ability to navigate dynamic market conditions and position itself for long-term growth across the energy, chemicals, and resources sectors.