2345 GMT - Investors in Flight Centre shrug off what RBC Capital Markets interprets as a modest downgrade to consensus earnings expectations. Flight Centre says it's targeting an underlying pretax profit of A$365 million-A$405 million in FY 2025. That compares to consensus forecasts of A$397.4 million, so the guidance represents a 3.1% miss at the midpoint of the range, analyst Wei-Weng Chen says. "We further note consensus skews for 1H do not appear to take into account Flight Centre's expectations another heavy 2H skew (FY 2024: 34/66) suggesting a potential 1H pretax profit downgrade in the order of -6.6%," RBC says. Still, Flight Centre signaled October trading was strong. The stock is up 2.7% to A$17.08 in early trade, outpacing the broader S&P/ASX 200 index's 0.4% rise. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 13, 2024 18:45 ET (23:45 GMT)
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