EarningsQ4 2026 Earnings Report
DE:2OF Q4 2026 EPS Results
Actual EPS€0.27
Consensus EPS€0.26
Beat/MissBeat by +<€0.01
One Year Ago EPS€0.23
DE:2OF Q4 2026 Revenue Results
Actual Revenue€13.62B
Expected Revenue€13.60B
Beat/MissBeat by +€13.75M
YoY Revenue Growth+3.03%
Earnings Announcement Details
QuarterQ4 2026
Date08/24/2026
TimeAfter Close
Conference CallMonday, August 24, 2026
DE:2OF Upcoming Earnings
Coles Group's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
DE:2OF Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial picture: strong group earnings growth, robust supermarket performance, rapid and profitable eCommerce scaling (including EBITDA-positive CFCs), meaningful productivity delivery (A$311m SSI) and a healthy balance sheet supporting targeted growth investments. Material challenges were highlighted—primarily the weak Liquor segment (large EBIT decline and planned store closures), higher near-term implementation and CapEx costs (Capability Center and Victorian ADC), rising category-level inflationary pressure, and retail crime risks. While these lowlights are significant in areas, the breadth of core supermarket strength, eCommerce momentum, productivity gains and disciplined capital allocation outweigh the negatives, supporting confidence in the medium-term outlook.Company Guidance
Strong Group Financial Growth
Group sales revenue $45.6bn, +2.8% YoY. Excluding significant items, group EBIT +9.9% and NPAT +13.7%. Group EBITDA (ex-sig items) +7.1%. Earnings growth materially ahead of sales growth.
Supermarkets Performance & Margin Expansion
Supermarkets sales (ex-tobacco) +5.1%; Supermarkets sales revenue +3.7% overall. Supermarkets EBIT +12.2% with EBIT margin expansion of 43 bps. Gross profit margin improved by 37 bps and CODB as a % of sales improved by 6 bps.
eCommerce Acceleration and CFC Profitability
Supermarkets eCommerce sales +26.4% to $5.6bn, penetration 13.6% (early FY27 update 15.7%). Double-digit growth across fulfillment channels; CFC sales grew >30% and customer fulfillment centers delivered positive EBITDA in year two. eCommerce EBIT margin increased to 5.7% (up 90 bps over 3 years).
Productivity — Simplify & Save to Invest (SSI)
Delivered $311m of SSI benefits in FY'26; cumulative SSI since FY'24 $876m and on track to exceed $1bn by end FY'27. Approximately $1.9bn of combined SSI/Smarter Selling benefits delivered since FY'20. Productivity helped offset inflationary pressures and support reinvestment.
Exclusive Brands and Own-Brand Momentum
Exclusive to Coles sales +6.1%; Coles Finest sales +9.2%. Own-brand ranges (e.g., Coles Ultra) delivered strong growth and won industry awards (40 awards including 17 Product of the Year).
Balance Sheet, Cash Generation and Capital Returns
Operating cash flow (ex interest & tax) $4.3bn with 101% cash realization. Gross operating CapEx $1.2bn (down $76m YoY). Weighted average drawn debt maturity 4.4 years, undrawn facilities $2.5bn, lease-adjusted leverage 2.3x. Final dividend $0.37, total FY'26 dividend $0.78 (+13% YoY), well-franked with ~A$550m franking credits.
Strategic Investments & Execution
Victorian ADC $880m development on time and on budget; plans to invest ~A$300m this year in the ADC. Announced targeted investment to open ~45 new supermarkets and ~150 renewals (additional store & tech investment ~A$300m by end FY'28) to increase net space growth >2% and expand online capacity.
Customer, Team and Sustainability Outcomes
Improvements across customer metrics (quality, range, availability, price, store look & feel). Highest-ever team member engagement (top quartile vs Australian benchmark). 97% of fresh produce sourced from Australian growers, Coles contributed A$45m in community support and donated 40.9m meals; Scope 1 & 2 emissions reduced 82.6% vs FY'20 baseline.
Improved Returns
Since FY'23 sales CAGR ~4% and EBIT CAGR ~7.7% p.a.; Return on capital up ~80 bps to 17.3%.
DE:2OF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed