NZ's Fletcher Building climbs to four-month high on stronger annual outlook
BUZZ-NZ's Fletcher Building climbs to four-month high on stronger annual outlook ** Shares of Fletcher Building FBU.NZ jump as much as 4.7% to NZ$3.58, hitting their highest level since March 3
** Stock marks its strongest intraday trading session since June 22
** The construction materials maker now expects earnings before interest and taxes (EBIT) of NZ$400 million-NZ$403 million ($228.80 million-$230.52 million) for FY26
** Company warned input cost uncertainty, if sustained, could adversely impact recovery in H1 FY27, even as existing construction activity continues to support demand
** Improvement in volumes across core manufacturing and distribution divisions supported outlook upgrade, company says
** Session's gains cut stock's YTD losses to 3.8%
($1 = 1.7483 New Zealand dollars)
(Reporting by Shivangi Lahiri in Bengaluru)
Recent news on Fletcher Building
See all newsBrief: Fletcher Building Says Group Made Better Start To FY27
NZ's Fletcher Building drops to 5-month low after Morningstar flags weak housing market
Morningstar keeps fair value unchanged for NZ's Fletcher Building; says business strong but market weak
Brief: Fletcher Building Limited Says Forward Outlook Remains Uncertain
NZ's Fletcher Building warns on first-half earnings, swings to annual profit (updated)