BUZZ-Australia's NRW Holdings drops most in 2 years on HY earnings miss

Reuters
03-03
BUZZ-Australia's NRW Holdings drops most in 2 years on HY earnings miss

** NRW Holdings NWH.AX slides 11% to A$2.925

** Stock fell as much as 13.9% earlier in the day, marking worst intraday drop since mid-February, 2023

** Mining contractor posts H1 FY25 normalised EPS of 12.8 Australian cents, below Jefferies estimate of 14.7 cents

** Mining segment's H1 FY25 operating margin at 7.9% impacted by heavy rain in Queensland, misses Jefferies 8.9% estimate

** Stock among biggest losers on S&P/ASX 200 .AXJO index

** About 4.1 mln shares traded, 3.4x the 30-day avg

** NWH loses 23.8% YTD

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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