Reliance Worldwide's U.S. Headwinds to Remain into FY26 -- Market Talk
Dow Jones
Jun 25, 2025
2306 GMT - Headwinds to plumbing fittings supplier Reliance Worldwide from a weak U.S. housing market aren't likely to ease any time soon, contends Jefferies. "We see ongoing risk into FY 2026 given deteriorating macroeconomic conditions," analyst Ramoun Lazar says. Jefferies cuts forecasts for volumes in North America as a result. It now expects a 4% miss to consensus forecasts for North American sales in FY 2026. "We continue to prefer Australia, New Zealand exposed housing companies in this environment," says Jefferies. It favors SGH and Fletcher Building in particular. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 24, 2025 19:06 ET (23:06 GMT)
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