Australia's Webjet Group shares hit lowest in 2 years on earnings miss, dismal outlook

Web Travel

14/10/2024 24:26

** Shares of Australia's Webjet Group  WEB.AX  fall as much
as 32.2% to A$0.91
    ** Stock hits lowest since November 2022 and is on track for
weakest session since 2001
    ** Co says 1H25 total transaction value and bookings for its
WebBeds business, its travel brand, are ahead of 1H24 but misses
estimates by Citi
    ** Co says WebBeds 1H25 preliminary underlying EBITDA
margins are expected to be around 44%, lower than 52% reported a
year ago
    ** Stock has risen 8.6% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Lisa
Shumaker)
 ((Rishav.Chatterjee@thomsonreuters.com;))