Nufarm Limited (NUF) Earnings Call Transcripts

Nufarm Limited's Latest Earnings Call - May 27, 2026

Nufarm Limited reported strong first half results for FY '26, with an 18% increase in EBITDA to $243 million and a 35% rise in NPAT to $52 million. Despite a year-on-year revenue decline due to a strategic focus on margin over volume, gross profit increased by 7%, achieving a record gross margin of 33.1%. Management reaffirmed their full-year guidance, expecting continued EBITDA growth and targeting a net debt leverage of 2x by year-end, down from 2.7x in FY '25.

Reported metrics

Guidance from management

Management reaffirmed their outlook for FY '26, expecting strong growth in EBITDA and targeting a net debt leverage of 2x by year-end, alongside positive free cash flow driven by seasonal working capital unwinding.

What management said

Yes, thanks for that question. It comes back to what we talked about during the presentation, which is really around focusing on our portfolio. So we're changing the crop strategy and our portfolio strategy. So in doing that, we are rationalizing the portfolio we have in the U.S. market and leaning them towards more higher-margin products. That's going to change the margin profile of the U.S. Crop Protection business...

Maybe there's a long tail of products in our portfolio in the U.S. And I think the -- what we're looking at are really the products that are more commoditized -- some products that were -- that have become more commoditized over the years and have lost their relevance in the market. Those would be the ones that we're looking at. But I'll also ask maybe Beth to help explain a little bit about what we're doing on our p...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of cost inflation on farmer spending and whether Nufarm's focus on higher-margin products could lead to a loss of volume. Additionally, there were questions about the sustainability of the cost savings programs and how they would manage inventory in a fluctuating price environment.

Main topics on the call

• Strong EBITDA Growth — Nufarm achieved an 18% increase in underlying EBITDA to $243 million, driven by improved earnings quality and capital discipline. CEO Rico Christensen stated, "This overall performance gives us the confidence to reaffirm...
• Margin Improvement — The gross profit margin expanded to 33.1%, the highest in 20 years, reflecting a strategic shift towards higher-margin products. CFO Brendan Ryan noted, "This margin expansion, combined with disciplined cost management, ...
• Revenue Decline — Revenue decreased year-on-year as management prioritized margin over volume, indicating a deliberate strategic choice. Ryan mentioned, "While revenue was lower year-on-year, reflecting our deliberate focus on improving m...
• Free Cash Flow Improvement — Free cash flow improved significantly by $193 million year-on-year, attributed to stronger profitability and better working capital management. Ryan stated, "This improvement has been driven by stronger profitability, im...

Read the full Nufarm Limited transcript (May 27, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 19 Nufarm Limited earnings call transcripts on record, spanning March 24, 2020 to May 27, 2026. Based on this history, Nufarm Limited reports semi-annually. The most recent call on file is dated May 27, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NUF

Exchange

ASX

Country

AU

Sector

Materials

Industry

Chemicals

Calls on record

19

First call

March 24, 2020

Most recent

May 27, 2026

Reporting cadence

semi-annually