New Zealand's Tourism Holdings FY26 profit jumps 34% on cost-saving actions

Tourism Holdings

24/08/2026 21:47

Overview
New Zealand RV rental operator's FY26 underlying NPAT from continuing ops rose 34%
Sale of services revenue, mainly rentals, up 11% to NZ$517.5 mln, driven by fleet growth, with total revenue down 5% to $852.9 million
Company received two non-binding takeover proposals; board reviewing both offers

Outlook
Company says Middle East conflict and weak RV sales markets impact FY27 earnings outlook
Tourism Holdings sees recent rental booking intake up 40% in NZ, 15% in Australia
Company maintains $100 mln underlying NPAT goal, citing intact fundamental drivers

Result Drivers
RENTAL FLEET GROWTH - Co said 11% increase in sale of services revenue was driven by growth in rental fleet and improved rental revenue per vehicle
COST-SAVING ACTIONS – Consolidation and dealership exits delivered about $5 mln in underlying labour, corporate and digital savings
WEAK RV SALES MARKET – Sale of goods revenue fell 22% to NZ$335.4 mln as subdued consumer demand, high rates and macro uncertainty weighed on RV sales

Company press release: ID:nNZW4pC6VV

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
NZ$852.9 mln
 
FY NPAT from Continuing Operations
 
NZ$39.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the passenger transportation, ground & sea peer group is "buy"
Wall Street's median 12-month price target for Tourism Holdings Ltd is NZ$3.00, about 6.4% above its August 24 closing price of NZ$2.82
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 7 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)