BXB –5.03%: A soft third-quarter result from the transport logistics business showed decent new business growth in the Americas though this was offset by a poor outlook.
- Financial year-to-date sales revenue $4.92 billion, +1.4% y/y
- Sales revenue from continuing operations constant FX +3% y/y
- FY25 profit guidance at constant FX rates +8% to +11%
- FY25 cash-flow guidance $900 million to $1 billion, up from $850 million to $950 million
- FY25 revenue guidance constant FX rates +4% to +5%, down from +4% to +6%
Brambles has remained resilient, showing signs of continuing operational improvement with cost control measures reducing capex; adding ~$50m to cash flow in FY25. However, the downgrade to revenue growth guidance isn’t shocking, given flat like-for-like volumes this quarter and a weakening macroeconomic outlook with tariff policy leading to a potential disruption to trade flows.
MM is neutral BXB
Add To Hit List
