Citi, Morningstar raise FY25 earnings estimates for Australia's Orica

ORICA

14/11/2024 22:57

** Citi says Orica's  ORI.AX  FY24 EBIT of A$805.6 mln 
($519.93 mln) was in line with consensus est. of A$800.1 mln;
hikes FY25 est. by 5%
    ** Morningstar raises Orica's FY25 EBIT est. by 3% to A$960
mln
    ** "ORI's outlook for FY25 remains positive, with the
company emphasizing growth in the 3 key segments assisted by
full-year contribution from Cyanco and Terra Insights" - Citi
    ** "Initial contributions from newly acquired businesses
Terra Insights and Cyanco also bolstered earnings" - Morningstar
    ** However, Morningstar flags inflationary pressures, higher
energy costs, supply chain disruptions and geopolitical risks as
ongoing challenges for the company
    ** Citi retains "neutral" rating and PT of A$19 for the
stock
    ** The world's largest explosive provider reported on
Thursday net profit after tax (NPAT) of A$409.4 mln for fiscal
2024, up 11% from A$369 mln a year ago
    ** ORI shares up 10.3% as of last close, YTD
    

($1 = 1.5494 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))