Australia's Perenti faces worst day in nearly 5 years on HY profit miss

Perenti

23/02/2026 24:17

** Shares of Australia's Perenti PRN.AX fall as much as 22% to A$2.2, on track for weakest trading session since May 13, 2021

** Stock hits its lowest level since August 26, 2025

** PRN among worst performers on the ASX 200 benchmark .AXJO

** Mining services provider posts HY rev of A$1.73 billion  ($1.23 billion) and HY underlying EBIT(A) of A$160.1 mln, both missing estimates

** Co narrows FY26 forecasts for revenue and EBIT(A) on rising currency exchange rates

** "There is no news around CEO/MD transition, which should continue to be an overhang on the stock" - Citi

** About 2.8 mln shares change hands, 1.1x the 30-day average

** Stock last down ~14%, with YTD losses 13.3%

($1 = 1.4090 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))