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Select Harvests Cuts 2026 Crop Guidance, Flags AU$7 Million in Additional Costs; Shares Up 4%

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Select Harvests (ASX:SHV) now expects a 2026 crop size of 28,800 to 29,600 metric tonnes, down from previous guidance of 28,000 to 31,000 metric tonnes, describing the result as "exceptional" given the unusually wet weather in late February and early March, according to a Tuesday Australian bourse filing.

The company said more drying than previously expected, an extended processing period and other non-recurring items contributed to a further AU$7 million in costs in the second half, in addition to the AU$6.9 million forecast at the first half, with the additional costs driven by the wet harvest season, the Middle East conflict and general inflationary pressures.

Continued strength in the almond price resulted in the pool price increasing from AU$10.21 per kilogram to AU$10.26 per kilogram, with 91% of the crop now hedged at $0.665 per pound and 81% of the 2026 crop sold or contracted, the filing added.

Despite delays caused by the wet and late harvest, net debt is on track to be below AU$65 million at year end with gearing below 11%, the company said.

The company's shares gained 4% in recent Tuesday trade.

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