LLC -2.79%: The second year in a row LLC has put through a downgrade, this year they blame the Covid situation, particularly the impact on their UK business while they also increased their provisioning for claims relating to their now jettisoned Engineering business. For FY21, the market was looking for core earnings of $469m, however there was a big range in the market and now LLC say this will be $375-$410m. The stock was down sharply early ~8% before recovering to close down just 2.6%. The market is more focussed on what happens in FY22/23 and beyond and the downgrade today was not ‘that much’ of a surprise given the new CEO Tony Lombardo has just taken the reins. A clearing of the decks and better times ahead for LLC would be the optimistic take with more details provided at their full year results in August. We originally bought LLC on valuation grounds and exposure to infrastructure development, those factors remain however so to do risks around earnings.
scroll
Weekly Video Update: James & Harry cover portfolio performance for July, and Income stocks to buy here & now.
Close
Markets @ Midday – Monday 15th August – Bendigo (BEN), Beach Energy (BPT) & JB Hi Fi (JBH)
Close
Ausbiz: James covers the CBA FY22 result this morning on Ausbiz
Close
What Matters Today in Markets – Monday 15th August
Close
We will hold our LLC position for now, however it’s on close watch
Add To Hit List
Relevant suggested news and content from the site
Video
WATCH
Weekly Video Update: James & Harry cover portfolio performance for July, and Income stocks to buy here & now.
Recorded August 10th August 2022
Podcast
LISTEN
Markets @ Midday – Monday 15th August – Bendigo (BEN), Beach Energy (BPT) & JB Hi Fi (JBH)
Daily Podcast Direct from the Desk
Video
WATCH
Ausbiz: James covers the CBA FY22 result this morning on Ausbiz
Recorded Wednesday 10th August @ 9.30am
Podcast
LISTEN
What Matters Today in Markets – Monday 15th August
Daily Podcast Direct from the Desk
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.