Australia's Elders tumbles to 3-week low on half-yearly earnings miss

Elders

26/05/2025 02:02

** Shares of Elders ELD.AX fall 6.2% to A$6.19, their lowest levels since May 5

** Stock set for their weakest trading session since April 7, if losses sustain

** The agribusiness firm logs HY underlying EBIT of A$64.3 million ($41.81 million) vs Visible Alpha consensus estimate of A$75 million

** Citi notes underlying EBIT well below brokerage estimate of A$75 million, expects miss to be largely driven by impact of drier conditions in South Australia and parts of Victoria

** More than 922,000 shares change hands vs 30-day avg volume of around 780,000 shares

** Stock down 14.1% YTD, including current session's moves

($1 = 1.5380 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))