Australia's Bhagwan Marine hits record low on weak FY26 earnings outlook

Bhagwan Marine

12/05/2026 02:06

** Shares of Bhagwan Marine BWN.AX fall as much as 26.4% to hit a record low of A$0.265

** Marine solutions firm says Middle East conflict has caused delays in commencement of some short-term projects

** Co sees FY26 EBITDA in range of A$38.5 million - A$40.5 million ($29.30 million), compared with A$50.2 million it reported a year ago

** BWN also flags that higher operating costs are arising from the Middle East conflict

** Stock down over 40% this year, including the day's move

($1 = 1.3824 Australian dollars)

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))