BUZZ-Citi, Morningstar raise FY25 earnings estimates for Australia's Orica

reuters11-15 06:57

BUZZ-Citi, Morningstar raise FY25 earnings estimates for Australia's Orica

** Citi says Orica's ORI.AX FY24 EBIT of A$805.6 mln ($519.93 mln) was in line with consensus est. of A$800.1 mln; hikes FY25 est. by 5%

** Morningstar raises Orica's FY25 EBIT est. by 3% to A$960 mln

** "ORI's outlook for FY25 remains positive, with the company emphasizing growth in the 3 key segments assisted by full-year contribution from Cyanco and Terra Insights" - Citi

** "Initial contributions from newly acquired businesses Terra Insights and Cyanco also bolstered earnings" - Morningstar

** However, Morningstar flags inflationary pressures, higher energy costs, supply chain disruptions and geopolitical risks as ongoing challenges for the company

** Citi retains "neutral" rating and PT of A$19 for the stock

** The world's largest explosive provider reported on Thursday net profit after tax (NPAT) of A$409.4 mln for fiscal 2024, up 11% from A$369 mln a year ago

** ORI shares up 10.3% as of last close, YTD

($1 = 1.5494 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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