Adbri Cements Solid Result
Adelaide based cement maker, Adbri doubled its full-year profit to $93.7 million but slashed dividends as it plans a heavy spending year ahead.
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ABC – Morgans rates the stock as Hold
Adbri will invest $199m over FY21-23 to consolidate its WA cement production into a single state-of-the-art facility. Morgans lifts FY24 earnings (EBITDA) by $19m. Target price is $3.16.
Read MoreABC – Morgan Stanley rates the stock as Overweight
Adbri’s first-half revenues, impacted by bushfires and lower residential demand were -7% versus last year. Operating income was ahead of Morgan Stanley’s estimate by 11%. A dividend of 4.75c was declared.
Read MoreABC – Morgan Stanley rates the stock as Equal-weight
The company has withdrawn guidance for 2020, given the uncertainty regarding the pandemic impact. Net profit had been expected to be -10% below the prior year.
Read MoreGood And Bad News For Value Investors
Despite the prevalence of bad news stories and a sea of red across stock screens, Perpetual’s Anthony Aboud argues it’s not all bad news.
Read MoreWeak Construction Market Weighs On Adelaide Brighton
Cement and concrete group, Adelaide Brighton has confirmed its mid-year downgrade to revenue and earnings and sliced dividend for 2019, and warned of a 10% slide in earnings this financial year (which ends on December 31).
Read MoreACCC Clears Barro Stake In Adelaide Brighton
The ACCC has cleared the completed creeping acquisition of a 43% stake in Adelaide Brighton (ABC) by Barro Group and its related entities.
Read MoreABC – UBS rates the stock as Sell
First-half results were in line with expectations, given recent guidance. The results were affected by lower volumes and margin pressure as a result of the contraction in residential activity.
Read MoreAdelaide Brighton Confirms Hit From Construction Slump
Like Caltex’s big earnings fall reported on Tuesday, the half-year earnings report yesterday from Adelaide and Brighton (AdBri) and its loss had been well telegraphed by earlier trading and earnings downgrades.
Read MoreABC – Macquarie rates the stock as Downgrade to Neutral from Outperform
Macquarie had already set its forecasts below Adelaide Brighton’s prior guidance range on concerns over Queensland demand, but new guidance is lower still, given weak demand in SA and Victoria as well, leading the broker to cut forecasts a further -22%.
Read MoreCracks Widen In Adelaide Brighton Outlook
Shares in cement manufacturer Adelaide Brighton took another hammering yesterday after it again cut its earnings forecast for 2019 and scrapped its interim dividend.
Read MoreEast Coast Infrastructure: Worst Boom Ever?
While many listed companies have rolled out charts showing a mountain of work available, the infrastructure boom may not be the gift to Australian contractors the market is assuming.
Read MoreABC – Macquarie rates the stock as Neutral
Adelaide Brighton has downgraded FY profit guidance by -10-15% due to weak demand in residential construction, insufficiently offset by a lower exposure to infrastructure, falling cement/concrete prices in Qld which the broker sees going lower, and competition in South Australia.
Read MoreHousing Downturn Cracks Adelaide Brighton
Just as we saw with CSR earlier this week and other suppliers to the building sector (such as Brickworks’ core brick-making operations) and Fletcher Building products which is looking to revamp its Australian operations in the face of weakening demand, cement maker, Adelaide Brighton is now feeling similar financial pain.
Read MoreABC – Morgan Stanley rates the stock as Equal-weight
Morgan Stanley believes the 2018 performance was in-line, but the outlook is suggesting much tougher times lay ahead. The latter is seen at odds with the stock’s premium valuation, suggesting weakness needs to follow to pull ABC stock back in line with its peers.
Read MoreAdelaide Brighton In Profit Warning
Shares in cement maker Adelaide Brighton Ltd slid more than 9% on Friday to a 29-month low after it became yet another industrial company to downgrade earnings for 2018 or 2019.
Read MoreAdBri Investigates ‘Hidden’ Underpayments
Adelaide Brighton shareholders were remarkably relaxed about the news yesterday of a bad debts problem that could end up as $14 million earnings downgrade for 2017.
Read MoreAdelaide Brighton Builds Solid Result
No worries about the slowing housing sector for the country’s biggest cement maker, Adelaide Brighton.
Read MoreAdelaide Brighton Lifts Payout
Shareholders in Adelaide Brighton (ABC) will receive a small lift in interim dividend, and a much bigger surprise, a special four cents a share payout after reporting a modest 7.8% rise in net profit after tax for the six months to June 30.
Read MoreHousing Boom Lifts Adelaide Brighton
There was a full basket of goodies for shareholders in yesterday’s full year figures for 2015 from building materials group Adelaide Brighton (ABC).
Read MoreBuilding Boom Boosts Adelaide Brighton
The home building boom seems to have helped cement maker Adelaide Brighton (ABC) to new record profits and revenue figures for the 2014 financial year, which wrapped up on December 31.
Read MoreAdelaide Brighton Restarts DRP After Mixed Result
South Australian based cement and concrete maker Adelaide Brighton (ABC) has maintained its interim dividend at 7.5c a share fully franked for the six months to June after reporting a very mixed set of figures.
Read MoreNo Building Boom At Adelaide Brighton
Over in Adelaide yesterday there was a reminder than not all building supply companies are benefitting from the rebound in housing.
Read MoreSlow Construction Demand Hits Adbri Bottom Line
But for cement group Adelaide Brighton (ABC) weakness in the construction sector meant bad news for shareholders at yesterday’s AGM.
Read MoreAGMs: Adelaide Brighton Sees Flat Year
With housing and construction on the east coast weak (but the mining industry growing quickly, with more to come), cement and lime manufacturer Adelaide Brighton isn’t looking to a breakout year.
Read MoreAdelaide Brighton Makes A Concrete Deal
Concrete maker, Adelaide Brighton Ltd (ABC) rose 2 cents to $3.87 today after the company said it has acquires a 50% share of Mawsons, a concrete and quarry business operating in regional Victoria and southern New South Wales.
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