Austin Cuts Fiscal Year 2025 Earnings Guidance Due to Taking Too Many Orders, Euroz Harleys Says

MT Newswires Live
12 Jun

Austin Engineering (ASX:ANG) downgraded its fiscal year 2025 earnings before interest and taxes guidance to around AU$41 million from AU$50 million, due to taking too many orders at its already strained Chile facillity, and is a "big miss" from estimates of AU$48 million, according to a Wednesday note by Euroz Hartleys.

However, shifting some of the orders to the company's Batam facility in Indonesia is positive as the company's customers have limited alternatives, Euroz said.

Successful execution at Batam could unlock further global revenue opportunities from a major Chile-based customer, Euroz added.

Euroz Hartleys maintained Austin Engineering's buy rating but lowered its price target to AU$0.70 from AU$0.85.

Shares of the company rose 9% in recent Thursday trade.

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