Austal Shares Plunge Over 23% After Flagging $17.1 Million Overstatement In Fiscal Year 2026 EBIT Guidance

MT Newswires Live

Feb 13

Austal's (ASX:ASB) shares fell over 23% in recent trading on Friday after the firm said in a filing late on Thursday that an overstatement of around $17.1 million had been included in its fiscal year 2026 earnings before interest and taxes (EBIT) guidance.

It updated its EBIT guidance for fiscal year 2026 to around AU$110 million.

The firm identified that some incentives related to its towing, salvage, and rescue ship (T-ATS) program were recognised by its US unit, Austal USA, in line with the percentage of completion. However, these incentives had already been recognized in Austal USA's forecast at full value for the remaining part of the program.

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However, these incentives had already been recognized in Austal USA's forecast at full value for the remaining part of the program.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EBIT","symbol_name":"Harbor AlphaEdge Small Cap Earners ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2611901958","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2611901958","pubTimestamp":1770941030,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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