Fletcher Building's risk-reward remains attractive to Forsyth Barr following the building materials supplier's latest earnings guidance. Fletcher expects FY26 Ebit of NZ$375 million-NZ$380 million, excluding discontinued operations. That was better than Forsyth Barr expected, as was net debt forecast by Fletcher to be slightly above the middle of its NZ$400 million-NZ$900 million target range. Fletcher's guidance implies 4% growth in Ebit from continuing operations in 2H, says analyst Rohan Koreman-Smit. "This suggests benefits from the strategic reset and cost-out initiatives are starting to flow through to the bottom line and more than offsetting patchy volumes and competitive margin pressure," Forsyth Barr says. It retains an outperform call on Fletcher. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 18, 2026 19:18 ET (23:18 GMT)

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