Australia's GrainCorp slips after Morningstar cuts FY profit forecast, fair value

Graincorp

03/02/2026 24:33

Updates

** GrainCorp shares GNC.AX slip as much as 3.07% to A$6, on track for a fourth straight session of declines

** Stock among biggest laggards on the benchmark stock index .AXJO, which is up 1.2%

** Morningstar trims annual earnings forecast for GrainCorp and fair value estimate after the agribusiness warned of a steep profit drop, hurt by depressed commodity prices

** Investment research firm cuts fiscal 2026 underlying EBITDA forecast by 28% to A$220 million ($152.79 million), the midpoint of the GrainCorp's new forecast range

** Trims fair value estimate by 5% to A$7.90 a share, noting GNC's vulnerability to forces beyond its control, such as global grain prices and seasonal weather

** Emphasises that periodic oversupply is a recurring feature that has long weighed on pricing and returns

** Stock down 15.8% YTD

($1 = 1.4399 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))