14/02/2024 17:02

Downer (DOW) $4.79

DOW +11.14%: the services contractor posted strong 1H numbers, helping to stock crack 52-week highs. Management has been focussing on margins, so while revenue climbed 7%, Earnings (EBITDA) was up 13% to $151m, around 3% ahead of consensus.

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27/02/2023 16:48

Downer (DOW) $3.02

DOW -23.74%: a brutal reaction to a poor 1H result for the facilities contractor as contract losses and a restructure weighed on the outlook. Profit fell 20% to $68m while a $12m post-tax hit will be taken in the 2H following a revenue recognition error on an ongoing contract.

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08/12/2022 17:11

Downer (DOW) $3.82

DOW -20.42%: The contractor came clean this morning about an accounting issue, having incorrectly recognised revenue from a long-term, maintenance contract to the tune of $40m. As a result, they cut FY earnings guidance by $8-10m and had to explain away issues with their internal systems that led to the embarrassing mess. While it will have...

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12/08/2021 08:49

Reporting Today (GMG, MGR, DOW, QBE, WPL, TLS, NAB, AMP)

Telstra (TLS) FY21 Result: The headline act today and it looks a solid one, plus the commentary from CEO Andy Penn is bullish. At the top line, revenue of $23.1bn was a shade below expectations for $23.5bn, EBITDA of $7.4bn as expected, NPAT of $1.9bn inline with expectations and the dividend confirmed at 16cps. EPS was better at 15.4c v 13.5c expected and they announced a $1.35bn on market buy back. FY22 guidance is for underlying EBITDA of $7-7.3bn, the market is already at $7.4bn so slightly below in terms of guidance, but should be okay.

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28/04/2021 16:48

Downer (DOW) $5.71

DOW +7.33%: The global contractor Downer was higher today after announcing it would buy back up to 10% of its stock.

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