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. Cash conversion was also better than expected at 88% which helped the company’s balance sheet, with leverage falling to 1.8x. Labour constraints continue to weigh on earnings, so an improvement here will further boost the cost-out effort the company is putting in.
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Buy Hold Sell: The best and worst performers of FY25
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Thursday 4th September – Dow off -24pts, SPI up +31pts
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Wednesday 3rd September – Dow off -249pts, SPI down -37pts
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MM is bullish DOW, a turn around story gaining momentum
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Buy Hold Sell: The best and worst performers of FY25
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