Quite a reslient result from Breville considering the tariff headwinds. Numbers below courtesy of Market Index.
Breville delivered record first half revenue and EBIT growth, supported by geographic expansion, new product development, and tariff mitigation strategies.
- Revenue up 11% to $1.10bn vs $1.11bn ests (1% miss)
- EBIT up slightly to $145.8m vs $144.3m ests (1% beat)
- NPAT up 2% to $98.2m vs $97.9m ests (0.3% beat)
- Interim dividend up 5.6% to 19 cps vs. Morgans ests of 18 cps (5.5% beat)
- US gross profit 80% manufactured outside China, with tariff impacts managed through diversification, pricing, and distribution mix
- New product development and coffee segment drove double-digit revenue growth, with expansion into Mexico, China, Middle East, and Korea
BRG have provided guidance for the FY26 year, with management estimating a ‘slight increase' in operating earnings, implying a return to growth in the 2H26.
Held.
