Australia's Worley falls after Jefferies cuts PT on heavier earnings skew to second half

Worley

21/11/2025 24:53

Updates

** Shares of Worley WOR.AX fall as much as 3.1% to A$12.81, set for fourth straight session of declines

** Jefferies cuts price target after the engineering services provider flagged a larger-than-expected earnings skew to the second half

** Brokerage cuts PT to A$15.50/shr from A$16.18/shr; retains "buy" rating

** Co reaffirmed guidance for full-year on Thursday, but said earnings might be more skewed to the second half than prior years due to project cancellations and restructuring costs

** Jefferies cuts FY26 and FY27 EBITA estimates by 1% and 3%, respectively, reflecting broader macro weakness and impact from restructuring costs

** Jefferies sees some risks into FY27, given weaker European sustainability-led activity and generally weaker macro conditions

** Stock down 4.9% YTD, including the day's moves

(Reporting by John Biju and Nikita Maria Jino in Bengaluru)

((John.Biju@thomsonreuters.com))