Monadelphous Bull Says Result Solid; Focus on FY27 Revenue Drivers
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Yesterday
Monadelphous reports a solid FY result, with Ebitda and net profit both 1% higher than consensus, says Barrenjoey. The bank attributes the modest beats to tax and interest revenue. The engineering company's cash result is well ahead of consensus, with operating cash flow a 28% beat, Barrenjoey says. It notes that the stock outperformed heading into the result. Monadelphous says FY27 will be a year to consolidate and position for future growth. "We think a key question on the call will be quantum and drivers of revenue base in FY27 to position for growth," Barrenjoey says. It has an overweight rating and A$31.10 target on Monadelphous. Shares ended Monday at A$32.37.
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