BUZZ-Australia's Transurban rises on higher FY earnings, upbeat outlook

Reuters
08/20
BUZZ-Australia's Transurban rises on higher FY earnings, upbeat outlook

** Transurban TCL.AX rises as much as 3.9% to A$14.550; marks biggest intraday pct gain since January 2022

** Stock among top pct gainers on ASX200 index .AXJO

** Toll road operator posts FY proportional operating EBITDA of A$2.85 bln ($1.83 bln), up ~7% y/y and in line with Visible Alpha consensus

** Provides FY26 distribution outlook of A$0.69/share, up ~6% y/y and above VA consensus forecast of A$0.685/share

** Jefferies says results will be viewed positively, citing traffic growth, continued strong cost controls

** TCL last up 3.2%, takes YTD gains to 7.9%

($1 = A$1.5550)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))

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