Perenti's (ASX:PRN) fiscal 2025 revenue expectations of between AU$3.4 billion and AU$3.6 billion and underlying earnings before interest, taxes, and amortization (EBITDA) guidance of AU$325 to AU$345 million show heavy second-half earnings and cashflow skew, which likely prompted a selloff in the shares of company's stock, Euroz Hartleys said in a Monday note.
The company reported revenue for the six months ended Dec. 31, 2024, of AU$1.73 billion and EBITDA of AU$155 million.
To meet its fiscal-year guidance, Perenti requires an additional AU$1.8 billion in revenue and AU$183 million in EBITDA in the second half, Euroz Hartleys noted.
Although PRN's share price reaction has been "frustrating," Euroz Hartleys expects the impact to be short-lived, with plans to reassess its projections in the near term.
Euroz Hartleys maintained the company's buy rating and price target of AU$1.59.
Perenti's shares rose almost 7% in recent Tuesday trade.
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