Orica's Supply Issues Expected to be 'Manageable,' Jefferies Says

MT Newswires Live

04/22

Orica's (ASX:ORI) recent supply issues in North America and Western Australia are "manageable," Jefferies said in a Tuesday note.

The company is expected to face difficulties sourcing replacement ammonium nitrate volumes in the near term in North America and would have to spend more to import materials from its global supply base, incurring about $30 million in costs per year from 2027.

However, Jefferies raised its earnings before interest and taxes forecast by 2% across fiscal years 2026 to 2028, reflecting better Asia-Pacific forecasts after Indonesia's 20% lift to coal production targets.

Additionally, Russian ammonium nitrate curtailments will benefit the company's own production in Canada and Australia.

Jefferies maintained its buy rating and AU$24.04 price target on Orica.

Orica shares rose nearly 2% in midday trade Wednesday.

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