FDC Upgrades FY27 Guidance: Revenue Outlook Lifted to AU$2.08 Billion as Work in Hand Reaches AU$2.85 Billion

Highlights:

• Revenue guidance lifted to AU$2.00–AU$2.08 billion, up from the AU$1.9 billion prospectus forecast.

• Normalised EBIT guidance raised to AU$105–AU$110 million, with the margin steady at about 5.3%.

• Work in hand up 14% to AU$2.85 billion, with no single sector above one-fifth of the total.

FDC Consolidated Holdings Limited (ASX: FDC) told the market on 11 November 2026 that it is lifting its FY27 revenue and normalised EBIT guidance by 5–10%. The company points to project execution, earnings performance so far this year and fresh contract wins as the drivers behind the upgrade. On the market, FDC last traded at AU$3.680, up AU$0.150 or 4.249% on the day.

A stronger earnings outlook

Under the revised guidance, FDC now expects revenue of AU$2.00–AU$2.08 billion for the year ending 30 June 2027, compared with the AU$1.9 billion pro forma prospectus forecast. Normalised EBIT is tipped to land between AU$105 million and AU$110 million, up from AU$100 million.

Profitability per dollar of revenue is not expected to shift much. The normalised EBIT margin is guided at roughly 5.3%, in line with the prospectus. FDC says the new figures follow the same normalisation approach used in that document.

Work in hand grows to AU$2.85 billion

As at 31 October 2026, the contractor’s work in hand stood at AU$2.85 billion. That is AU$350 million, or 14%, higher than at 30 June 2026. According to the company, revenue already delivered plus secured work scheduled for the rest of FY27 now fully covers the original prospectus revenue forecast.

Diversification across sectors

FDC says its pipeline is spread widely. Industrial projects make up 18.1% of work in hand, education 17.1% and data centres 16.3%, so no one sector accounts for more than a fifth. Recent wins across both the Construction and Fitout & Refurbishment divisions span retirement living and aged care, education, industrial, health, data centres, public spaces and commercial work.

Chief Executive Officer Russell Grady said the result shows the growth plan is working and that the varied portfolio opens opportunities across sectors, regions and project sizes. He added that the group stays selective, backing only projects that satisfy its delivery, risk and return tests.

What to keep in mind

The guidance assumes current trading conditions persist, projects advance broadly on schedule and no material adverse change hits markets or operations. FDC also cautions that economic conditions, project timing and delivery costs could push results away from expectations. Figures for the four months to 31 October 2026 are unaudited, and normalised EBIT is a non-IFRS measure that should be read alongside statutory results.

Founded in 1990, FDC employs more than 730 people and delivers construction, fitout and refurbishment projects across Australia, mainly in non-residential buildings. This article is general information only and not financial advice.

Note: All data presented is based on information available at the time of writing.

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