Australia's Reliance Worldwide gains most in 1-1/2 years after reaffirming outlook

Reliance Worldwide

28/04/2026 04:22

Updates

** Shares of Reliance Worldwide RWC.AX jump as much as 9.4% to A$3.325, post their biggest intraday gain in 1-1/2 years

** Stock hits its highest level since February 27 after the plumbing solutions provider reaffirms its second-half and annual outlook

** Citi says co's trading update "solid" on guidance reaffirmation

** Reliance Worldwide says FY26 net cost impact is now seen at lower end of $25 million–$30 million range, while FY27 impact remains unchanged at $5 million–$7 million based on current tariff rates, excluding any refunds

** Says it has no direct exposure to the Iran conflict, expects no material impact for FY26 earnings

** Four of 11 analysts rate the stock "buy" or higher, four "hold" and three "sell" or lower; median PT is A$3.37, LSEG data shows

** Stock down 25.5%, YTD

 (Reporting by Kumar Tanishk and Aamir Sheik Khalid in Bengaluru)

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