Fletcher Building’s Ross Taylor steps aside as Nick Traber assumes acting CEO role
Fletcher Building undergoes leadership shift as Ross Taylor steps down, replaced by Nick Traber in interim role, amidst ongoing CEO search.
Read MoreTag: FBU
Fletcher Building plummets
Fletcher Building (ASX:FBU) shares dropped another 7% on Wednesday after hours of confusion about whether it should trade during a market briefing.
Read MoreShareholders to receive lower dividends as Fletcher Building reports earnings decline
Shareholders in Fletcher Building (ASX:FBU) are set to receive reduced final and full-year dividends following a significant drop in earnings for the year ending on June 30.
Read MoreFletcher Building’s bleak FY23 outlook
21 Jun 2023 – Trans Tasman building products giant, Fletcher Building has trimmed its 2022-23 earnings outlook 9 days before it rules off its books for the financial year and given a big hint that the new financial year will be tough.
Read MoreMarket Morsels: LAU, FBU
A couple of ASX news bites to start off the week, with transporter Lindsay Australia ticking its forecasts up nicely and Fletcher Building forced to top up provisions for a defective product.
Read MoreMarket Morsels: IAG, FBU, AZJ
New Zealand’s wild weather is playing havoc with companies on both sides of the Tasman, with updates from IAG and Fletcher Building released Monday, as well as one from Aurizon.
Read MoreFletcher Building Meets Guidance, Raises Dividend
Fletcher Building has boosted its 2021-22 annual dividend by a third after meeting full year earnings guidance, despite numerous battles in its home market of New Zealand.
Read MoreFletcher Constructing an Upbeat Narrative
NZ building products giant Fletcher Building saw its shares jump more than 6% at one stage on Wednesday when it revealed an upbeat earnings guidance for the 2022-23 financial year.
Read MoreTrans-Tasman Tidings: FBU, EBO
The market liked the solid interim results and higher rewards for shareholders from two of the biggest ASX-listed Trans-Tasman companies – EBOS and Fletcher Building.
Read MoreFBU – UBS rates the stock as Buy
UBS raises its target price for Fletcher Building to NZ$8 from NZ$7.85 and increases its rating to Buy from Neutral.
Read MoreFletcher Building Confirms Turnaround
Fletcher Building, one of Australasia’s biggest construction and building products groups, has confirmed a solid turnaround in the year to June, announcing a $NZ305 million profit.
Read MoreFBU – UBS rates the stock as Neutral
UBS retains a Neutral rating which is under review. Target is raised to NZ$7.65 from NZ$6.55.
Read MoreFBU – Credit Suisse rates the stock as Outperform
Credit Suisse resumes coverage with an Outperform rating and $7.20 target.
Read MoreFletcher Building Reinstates Div after Strong Result
NZ-based Fletcher Building is returning to the list of companies paying dividends after a break of 18 months following a 48% jump in first-half profit.
Read MoreFBU – UBS rates the stock as Neutral
UBS observes Fletcher Building’s share price is now sitting in line with pre-covid-19 levels, post some significant earnings upgrades with construction activity in New Zealand noting a rebound post-lockdown along with cost-saving initiatives by the company.
Read MoreFBU – UBS rates the stock as Neutral
For the 4 months ended October, operating income is up 55% versus last year led by revenue growth and margin expansion. Resilient activity levels in both New Zealand and Australia have helped the case, remarks UBS.
Read MoreVirus Deconstruct Dividends At Fletcher, James Hardie
Similar results from two building giants yesterday – Fletcher Building, the Kiwi company, and James Hardie, the Australian-US business.
Read MoreFBU – Macquarie rates the stock as Neutral
Macquarie adjusts forecasts for earnings per share down -36% to account for the trading update for May, which implies FY20 earnings guidance of NZ$309m.
Read MoreFletcher Building’s Bankers Open Door On Dividend
New Zealand based construction and building products group, Fletcher Building has joined Tabcorp in making its final dividend dependant on the attitude of its bankers.
Read MoreFBU – Credit Suisse rates the stock as Neutral
The company has indicated the outlook is difficult and plans to cut 1500 jobs. The prospect of breaking even on earnings (EBIT) in the fourth quarter, which usually represents 40-45% of annual EBIT, highlights the downside associated with any return to more restrictive lockdown measures, Credit Suisse asserts.
Read MoreFBU – UBS rates the stock as Neutral
The company has withdrawn guidance for FY20 and cancelled the interim dividend to preserve liquidity.
Read MoreFletcher Building Cancels Dividend, Buyback, Guidance
NZ-based Fletcher Building has cancelled its dividend, suspended its buyback and withdrawn its 2019-20 earnings guidance.
Read MoreFBU – Citi rates the stock as Neutral
Fletcher Building’s AGM confirmed the company is on track to meet consensus expectations, although trading to date has been a mixture of stronger and weaker results for different businesses.
Read MoreFletcher Building Confirms Buyback Details
Fletcher Building will kick off its $NZ300 million on-market share buyback next Monday, September 9Fletcher Building will kick off its $NZ300 million on-market share buyback next Monday, September 9.
Read MoreFletcher Building Back In The Black
Fletcher Building (FBU) says it’s back in profit and paying dividends after the first of its five-year turnaround strategy.
Read MoreFBU – Deutsche Bank rates the stock as Hold
The company has downgraded its underlying earnings (EBIT) outlook for FY19 by -NZ$30m, the result of a disappointing Australian division. Given the sharp decline in Australia, management’s view that FY19 was a successful year is a surprise to Deutsche Bank.
Read MoreFletcher Building Softens Weak Outlook With Buyback
Fletcher Building will use some of the money raised from the sale of its Formica business to run a $NZ300 million buyback once the 2018-19 annual results are released in August.
Read MoreOz Housing Slowdown Hits Fletcher Building
Fletcher building is looking at big losses from its Australian operations after a clean out and restructuring.
Read MoreFBU – Macquarie rates the stock as No Rating
Fletcher Building has completed the sale of Formica and disclosed the contribution to FY19 guidance, updating for timing and variations. New guidance range is NZ$620-650m, with a -1.6% downgrade at the midpoint from prior guidance.
Read MoreFletcher Building Lowers Guidance Post Formica Sale
New Zealand building products and construction company Fletcher Building has cut its profit guidance for the 2018-19 financial year after selling its global Formica coatings business.
Read MoreFletcher Building Back In The Black, But Not Out Of The Woods
Fletcher Building is returning to paying dividends after announcing an $NZ89 million interim profit for the six months to the end of December.
Read MoreFletcher Building Lowers Guidance Again
Shares in embattled New Zealand building products giant, Fletcher Building (FBU) sold off yesterday after the company produced weaker than expected guidance at its 2017-18 annual meeting.
Read MoreFletcher Building Scraps Steel Takeover
New Zealand’s struggling building and construction giant, Fletcher Building has abandoned its bid for Steel & Tube Holdings after its sweetened offer was rejected.
Read MoreNo Dividend As Fletcher Building Profit Crumbles
No dividend for shareholders in New Zealand’s largest construction company, Fletcher Building, after it revealed a loss of $NZ190 million in the wake of cost overruns on more than a dozen building contracts.
Read MoreInstos Back Fletcher Building Raising
Fletcher Building will be untroubled to raise most of the $NZ750 million from big shareholders by the time the raising closes tonight and the shares are re-listed tomorrow.
Read MoreFletcher Building In Big Capital Raising
Struggling NZ-based Fletcher Building is asking shareholders to inject $NZ750 million into the company, which will in effect partially recapitalise a business that has been hurt hard by huge losses on some weak building contracts.
Read MoreFletcher Building Confirms Big Losses
Troubled NZ-based building products and construction group, Fletcher Building revealed an operating earnings loss of $322 million for the six months ended 31 December 2017 in the wake of the huge losses on a total of 16 building contracts across NZ.
Read MoreNorris Walks As Fletcher Building Losses Balloon
Not even former bankers are exempt from overseeing a mess, especially when it is a debacle that has created close to $NZ1 billion in losses in less than a year! Take Sir Ralph Norris, a former CEO of the Commonwealth Bank. He retired from the CBA (to make way for another Kiwi in Ian Narev) in 2011 and took up various board roles, one of which saw him made chair of Fletcher Building – one of the biggest building products and construction groups in Australasia.
Read MoreFletcher Building Foundations On Shaky Ground
Is the financial health of troubled Kiwi building products and construction company Fletcher Building worse than understood by the market?
Read MoreFletcher Building Investors Brace For More Bad News
Standby for more bad news from Fletcher Building as losses from at least two dodgy projects blow past previous estimates.
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