0111 GMT - Orica's 1H underlying EBIT estimate is a bit above what Macquarie expected. Explosives maker Orica says its 1H underlying EBIT is expected to be slightly higher than last year's A$488 million. Macquarie forecast A$483 million, while Visible Alpha consensus is around A$493 million. Macquarie says Orica's "quantified cost-out program is positive and should support earnings growth in future years along with solid end-market demand." The stock has fallen back from a 13-year high in January. That reflects a recent market selloff and concerns about disruptions at CF Industries' Yazoo City plant, Macquarie says. The bank has an outperform rating and A$25.95 target on Orica. The stock is down 2.7% at A$21.07. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 09, 2026 21:11 ET (01:11 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.