Australia's Austal hits three-week low on swinging to FY loss

Austal

31/08/2026 01:51

** Shares of Australia's Austal ASB.AX fall as much as 4.4% to A$3.920, hitting their lowest level since August 6
** Shipbuilder and defence contactor swings to loss, posts FY26 EBIT loss of A$125.2 million ($89.63 million) vs A$113.4 million EBIT profit in pcp
** Co also posts FY26 net loss after tax of A$53.6 million vs A$89.7 million profit last year 
** Board and management are committed to returning to profitability in FY27 - co 
** Stock down 38% YTD, including session's moves 

($1 = 1.3968 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))