Reece delivered another year of progress towards its 2030 vision of and strategy in FY26. Group sales revenue increased 4.5% to $9.4 billion, while EBITDA was flat at $901 million and EBIT decreased 2.6% to $534 million. NPAT declined 2.8% to $308 million, while earnings per share increased 0.7% to 49.5 cents.

In ANZ, sales revenue increased 8.3% to $4.2 billion, driven by higher volumes. Reece continued to invest in team capability, digital initiatives and enhancing the customer experience, including opening a next-generation bathroom showroom in Sydney and accelerating the adoption of AI tools across the business.

In the US, sales revenue increased 6.5% to US$3.5 billion, driven by network expansion, while residential new construction remained challenged. During the year, Reece opened a net 25 new branches and continued investing in its digital ecosystem and customer experience.

Reece is entering FY27 with a solid pipeline of activity in ANZ, which is expected to support first-half momentum. In the US, residential new construction remains challenging, although the non-residential segment has been more resilient.

Peter Wilson, Chairman and CEO, said: “FY26 was a year of improved momentum in our ANZ business as volumes recovered, while a weak residential housing market saw softer growth in the US. Throughout the year we focused on delivering our customer promise, progressing our innovation agenda and building out digital capabilities – all of which help us continue building a stronger business.

“Looking ahead, we are entering FY27 with a solid pipeline of activity in our ANZ region which should support momentum in the first half, while we expect more modest growth in the US where residential new construction remains a challenge.

“We continue to focus on delivering for customers and working towards our vision of being our trade’s most valuable partner by being easy to do business with – in every branch, on every screen, every day”.