Australia's Perenti fall on earnings miss

Perenti

20/08/2024 04:49

** Shares of Perenti Ltd  PRN.AX  fall 4.2%
    ** Diversified global miner's FY revenue increases 16% Y/Y,
but is 2% below Citi's expectations
    ** Citi also says PRN's FY underlying EBITA also misses its
estimate
    ** But says, "While earnings were a slight miss, we think
the market will look through this and focus on the prospect of
improving the balance sheet and solid free cash flow"
    ** PRN stock extends YTD declines to 5.7%

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))