Latest Austal (ASX:ASB) News

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Austal Limited has won a A$136 million contract extension to build two additional Evolved Cape-class Patrol Boats for the Australian Border Force, increasing the total contracted vessels to six and reinforcing Australia's sovereign naval shipbuilding capabilities.

Austal Limited has addressed ASX concerns over its half-year financial report, confirming compliance with accounting standards despite a qualified audit opinion linked to US Department of Defense contractual relief revenue.

Austal Limited reported a 21% rise in net profit to $30.5 million for H1 FY2026 on $1.11 billion revenue, yet declared no dividends amid a qualified audit.

Austal Limited has revised its FY2026 EBIT guidance downward by approximately A$25 million following the discovery of an overstatement in incentives related to its T-ATS program by its US subsidiary.

Austal has won a A$135 million contract extension to build two additional Evolved Cape-class Patrol Boats for the Australian Border Force, expanding its fleet and reinforcing maritime security capabilities.

The Australian Treasurer has approved Hanwha Corporation’s increase of its direct equity stake in Austal Limited from 9.9% to 19.9%, setting the stage for potential strategic partnerships as Austal rides a wave of record revenues and defence contracts.

Austal Limited reported a robust FY2025 with revenue up 24% and EBIT doubling, underpinned by a landmark Strategic Shipbuilding Agreement with the Australian Government and significant US contract wins.

Austal Limited has reached a confidential equitable adjustment agreement with the US Navy, resolving cost and schedule issues on the T-ATS shipbuilding program and limiting the contract to three vessels.

Austal Limited secures a significant US$314 million contract option from the US Coast Guard, advancing the Offshore Patrol Cutter program with orders for three additional vessels.

Austal Limited has reported a remarkable 24% revenue increase and a 503% surge in net profit for FY2025, yet has chosen not to declare any dividends for the year.

Austal Limited has raised its FY2025 EBIT guidance from $80 million to at least $100 million, driven by robust manufacturing performance and a key submarine modules contract with General Dynamics Electric Boat.