APA -1.51%: Steady as she goes in FY24 with guidance for FY25 inline with current consensus.
- FY24 distribution of 56.0cps, in line with guidance / consensus
- Underlying EBITDA of $1,893m was also in line with guidance / consensus.
- FY25 distribution guidance of 57.0cps was also in line with guidance / consensus.
- Underlying EBITDA guidance of $1,960m – $2,020m vs market at $1,978m
- Slightly higher capex guidance was the only key variable in all this.
At the close today, and based on the companies FY25 guidance, APA will yield 7.3% (unfranked) over the coming 12 months.
MM remains long APA for income
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