Update provided to the market today comes as no surprise.
Underlying EBITDA now expected to be between $88 million and $94 million.
Whilst factors influencing trading were outside Managements control it demonstrates how quickly conditions can change. Just 10 weeks ago in their latest presentation Management stated "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".
Subdued trading volumes, softer demand, and adverse weather conditions, may represent short-term challenges but Management have some work to do.
The update also referenced that "A dedicated team has commenced an enterprise-wide transformation program aimed at increasing efficiency across the Group". It will be interesting to see what the costs of doing business is when they report and how the WB Hunter business is travelling.
Update provided to the market today comes as no surprise....
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Last
91.0¢ |
Change
0.030(3.41%) |
Mkt cap ! $284.3M | |||
| Open | High | Low | Value | Volume |
| 89.0¢ | 92.5¢ | 87.5¢ | $414.5K | 458.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5834 | 91.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 91.5¢ | 1729 | 1 |
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| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| LAU (ASX) Chart |