Sydney, June 12, 2026, 06:02 AEST
Brambles gained on Thursday, ending the session at A$18.31, up 31 cents, or 1.72%. The stock traded in a range from A$17.77 to A$18.31. Market cap rose to roughly A$24.55 billion, according to delayed data.
Softer trade in the Australian market, with the S&P/ASX 200 down 20.10 points, or 0.23%, to 8,633.20 Thursday. Middle East tensions and higher oil prices dragged on banks and technology stocks, keeping the benchmark under pressure.
Brambles reported more buyback activity in its ASX filing. The company said it picked up 113,271 ordinary shares on June 10, adding to the 3,612,227 shares already purchased before then. Brambles spent A$1.99 million for the latest batch, buying at prices between A$17.42 and A$17.64.
Brambles said its buyback is being handled by Barrenjoey Markets Pty Limited, set to run from June 1, 2026, to June 30, 2027. The buyback outlines a cap of 134,664,225 shares. As of the end of the last session, 130,938,727 shares were left in the program.
Brambles reported in another notice on the same day that 113,271 ordinary fully paid shares were cancelled through its on-market buyback. After the cancellation, Brambles said there will be 1,340,895,659 quoted ordinary shares remaining on issue.
Brambles’ buyback has turned into a key anchor for investors after its May trading update reset forecasts for the year to June 30, 2026. The company now sees FY26 sales revenue up 2%–3%, down from 3%–4% previously, and expects underlying profit to rise 3%–5%, trimmed from 8%–11%, both at constant currency. Brambles said the new outlook comes mostly from an estimated US$60 million earnings drag tied to repair-capacity problems at parts of its U.S. subcontracted service centre network.
Brambles tightened its free cash flow before dividends outlook to US$1.0 billion–US$1.1 billion, compared to the earlier range of US$950 million–US$1.1 billion. Brambles also said it will launch a new US$400 million on-market buyback after finishing the current buyback. The company said the new repurchase is planned through the rest of FY26 and all of FY27, depending on market conditions.
Operational problems are still the key worry. Brambles said its U.S. issues are tied to subcontractor turnover, tough labour conditions, and extra repair time for higher-quality pallets. The company is moving pallets around, boosting repair operations, and bought about 2 million new pallets in the fourth quarter of FY26. More buying could follow in the first half of FY27 if needed.
Chief executive Graham Chipchase said in the May update that “meeting our customers’ needs is non-negotiable.” He also said the extra buyback showed the company was confident in the business and its ability to keep producing free cash flow.
Brambles runs its business worldwide under the CHEP name, operating in around 60 countries. It manages a pool of about 348 million pallets, crates and containers, with a network of more than 750 service centres. Brambles trades on the ASX as an ASX 20 stock. The company has around 12,000 employees, with North America and Europe as its largest markets.
Brambles’ next big update is its FY26 results on August 20, 2026. The company says it plans to give more detail then on how it’s working to restore U.S. pallet supply and boost service-centre capacity.
