Australia's ARB hits over 6-year low after warning of softer Q1 trading
BUZZ-Australia's ARB hits over 6-year low after warning of softer Q1 trading ** ARB Corp ARB.AX shares tumble as much as 5.3% to A$16.21, their lowest level since late May 2020, marking the stock's steepest intraday decline in a week
** Automotive parts retailer says its independent stores, dealership channels and wholesale operations faced softer trading conditions in Q1, even as aftermarket business outperformed broader new vehicle sales
** Co flags that export performance remained uneven, with solid growth across Africa, Europe and Southeast Asia partly offset by ongoing new vehicle supply constraints in the UK and softer demand conditions in New Zealand.
** Adds, US after market business maintained robust momentum in Q1 FY27, though gains were largely offset by weaker OE sales as existing contracts progressed into a more mature phase
** Stock down 46.9% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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