BUZZ-Australia's GrainCorp hits lowest in over 4 years on weaker earnings forecast
Reuters
Feb 02
BUZZ-Australia's GrainCorp hits lowest in over 4 years on weaker earnings forecast
** Shares of GrainCorp GNC.AX fall as much as 19.3% to A$5.81, hitting lowest level since Nov 29, 2021
** Agribusiness firm expects FY26 underlying NPAT between A$20 million ($13.88 million) and A$50 million, down from A$87 million reported in FY25
** Flags pressure on grain export margins
** Stock top loser on the benchmark index .AXJO, which is down 0.5%
** GNC down 14.2% YTD
($1 = 1.4413 Australian dollars)
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.Shaikh@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.