NCK -4.10%: Hit today on updated guidance, with margin pressure due to freight costs and softer sales in ANZ conspiring against 1H25 results, with profit guidance of $28m a good ~20% below current consensus. While they talked to improved trading activity in August/September, the magnitude of the miss is large, and against a backdrop where rate cuts are being pushed out further following a string of stronger economic data, it’s understandable to see the stock down today.
- While the update is disappointing, the worm may have turned with improved conditions in more recent months.
MM remains long & medium term bullish on NCK
Add To Hit List
