0028 GMT - Jefferies takes comfort from Transurban's steady distribution guidance, despite the toll road owner missing 1H earnings expectations. Transurban reported 1H proportionate Ebitda of A$1.55 billion. While that was up 6.4% on year, it came in around 5% below analyst Amit Kanwatia's expectations. Transurban continues to expect a full-year payout of A$0.69/share. "While there was no change to FY 2026 distribution guidance, we expect the Board would await a fuller period of West Gate Tunnel earnings before making a change," Jefferies says. The West Gate Tunnel Project in Melbourne opened in December. Transurban expects the tunnel, which connects the West Gate Freeway to the Port of Melbourne, to be well used by freight haulers. Transurban is down 1.2% at A$14.02. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 18, 2026 19:28 ET (00:28 GMT)

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