Australia's Brambles falls more to hit almost 2-year low on weak forecast

Brambles

20/05/2026 05:48

** Brambles BXB.AX shares fall nearly 5% to A$16.685, headed for third straight session of decline since weak forecast

** Logistics group's stock hits lowest level since August 21, 2024

** Citi ("Buy", PT A$23.55) says relatively unknown subcontractor issue behind near-term price weakness, expects positive sequential updates upon resolution as per co's expectations

** Adds, BXB's digitisation journey not impacted, a key positive

** BXB slashed annual profit growth forecast on May 18, flagging labour shortages and sub-contractor turnover across U.S. Central and Northeast; shares down more than 24% since

** Shares down about 27% YTD

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))