Cleanaway Earnings Update Doesn't Shift Bull's View

Dow Jones
07/23

2351 GMT - Cleanaway's earnings update doesn't move the dial for the waste management company's bull at Morgans. Analyst Nathan Lead acknowledges that guidance for annual underlying earnings of about A$470 million is a touch better than both his prior forecast and consensus expectations, but makes no changes to his target price of 2.80 Australian dollars. Lead tells clients in a note that he expects FY 2026 to be weak in terms of free cash flow, but that FY 2027 should be an inflection year thanks to factors including cost reductions and the non-repeat of a recent income tax payment. Lead raises his FY 2026 EPS forecast by about 2% and keeps a buy rating on the stock, which is at A$2.31 ahead of the open. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

July 22, 2026 19:51 ET (23:51 GMT)

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