DDH1's Earnings Guidance Even Better Than It Looks -- Market Talk

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DDH1's Earnings Guidance Even Better Than It Looks -- Market Talk

Dow Jones2023-09-08

2232 GMT - Earnings guidance provided by engineering contractor DDH1 alongside its FY 2023 result is even better than it looks, Canaccord Genuity says. DDH1, which has agreed to a takeover by Perenti, signaled FY 2024 operating Ebitda of A$123 million-A$130 million. That compares to Canaccord's A$123.6 million forecast. "Optically, it looks like the result implies growth of 3-9%," analyst Cameron Bell says in a note. "But the FY 2023 result benefited from A$7 million in subsidy payments that will not be repeated, so the underlying growth implication is more like 9% to 16%." DDH1's shareholders are due to vote on the acquisition proposal from Perenti on Sept. 18. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

September 07, 2023 18:32 ET (22:32 GMT)

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That compares to Canaccord's A$123.6 million forecast. \"Optically, it looks like the result implies growth of 3-9%,\" analyst Cameron Bell says in a note. \"But the FY 2023 result benefited from A$7 million in subsidy payments that will not be repeated, so the underlying growth implication is more like 9% to 16%.\" DDH1's shareholders are due to vote on the acquisition proposal from Perenti on Sept. 18. 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