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95.5¢ lindsay australia limited

Ann: Half year FY24 Results Presentation, page-28

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Arpeebee

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25/04/24

00:22

Post #: 73507210
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Originally posted by Arpeebee: ↑

'Lindsay is on track to deliver underlying EBITDA towards the lower end of the previously provided guidance range of $102 million - $108 million in FY24 up c.13% on the pcp. We expect any delay in recovery in the Rural and Hunters businesses to be offset by performance in the transport division, supported by a slowing in the inflationary outlook and the non-discretionary spend nature of the bulk of Lindsay’s logistics freight. The Board continues to monitor the impacts of events as circumstances are subject to sudden change.'

Net Debt $120.6m up 12.5%. Net Leverage Ratio down from 1.27x to 1.21x (4.9%).

Cash flow negative $18.6m primarily due to WB Hunter acquisition. Note 15 in the accounts tells me they have have not yet worked through all aspects of the acquisition, particulary intangibles/goodwill which represented 42% of total purchase consideration.

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Agree with Hopeful about today's market reaction following release of inflation data.
Management may be challenged in meeting revised guidance which was predicated on a slowing in the inflationary outlook. Given the increased level of debt they are carrying, and the indigestion from the WB hunter acquisition, a further downgrade could be on the cards.

LAU Price at posting: 98.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 95.5¢		Change 0.015(1.60%)		Mkt cap ! $296.8M

Open	High	Low	Value	Volume
94.0¢	96.0¢	94.0¢	$45.91K	48.33K

Buyers (Bids)

No.	Vol.	Price($)
4	8697	95.0¢

Sellers (Offers)

Price($)	Vol.	No.
95.5¢	14588	11

View Market Depth

No.	Vol.	Price($)
4	8697	0.950
3	11280	0.945
5	15832	0.940
5	17711	0.935
5	62376	0.930

Price($)	Vol.	No.
0.955	14588	11
0.960	45997	6
0.965	4802	2
0.970	33575	3
0.975	41252	3

Last trade - 11.16am 08/07/2024 (20 minute delay)

LAU (ASX) Chart