Half Year 2026 Cleanaway Waste Management Ltd Earnings Call Transcript
Key Points
- Cleanaway Waste Management Ltd (TSPCF) reported a 13% net revenue growth driven by disciplined pricing and strategic acquisitions.
- The company achieved a 64% reduction in serious injury frequency rate and a 35% reduction in total recordable injury frequency rate compared to the first half of FY25.
- The Board declared an interim dividend of 3.35 cents per share, an increase of 19.6%, reflecting confidence in the trading outlook.
- Cleanaway Waste Management Ltd (TSPCF) upgraded its full-year EBIT guidance to between $490 million and $500 million, indicating strong operational performance.
- The company is implementing advanced safety measures, including AI-powered pedestrian detection systems and in-vehicle monitoring systems, to enhance workplace safety.
- Cleanaway Waste Management Ltd (TSPCF) reported two fatal incidents at its sites in the first half of FY26, highlighting ongoing safety challenges.
- The company experienced a decline in net revenue and EBIT in its oil and technical services and health services segments, with EBIT falling 12.6%.
- Free cash flow was $20 million lower than the prior period, impacted by catch-up tax payments and acquisition integration costs.
- The company faced higher corporate costs in the first half due to a planned project to upgrade human resources systems.
- Old corrugated cardboard prices softened, creating a slight headwind in the first half, although it is expected to be a tailwind in the second half.
Good morning and welcome to everyone listening in today. Thank you for joining Cleanaway's financial results briefing for the first half of the 2026 financial year. I'm Mark Schubert and I'm joined by Paul Binfield, Cleanaway's CFO, and Richie Farrell, General Manager of Investor relations and sustainability. Following the presentation as usual, we will open the call for questions.
So moving to slide 7. I want to begin today by addressing health and safety. This is foundational to who we are and what we do at Cleanaway. Regretfully, we reported two fatal incidents at sites that we own in the first half of FY26.
Each occurred in different operational contexts, and in the case of MRL it happened when a commercial customer was struck by one of their colleague's vehicles in a park up area. We remain committed to learning from these tragic incidents and ensuring we have strong controls in place at our sites so that everyone goes home unharmed each day.
I am pleased to
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