Endeavour Group (EDV) have disappointed the market today with lower Fiscal 1H underlying earnings sending the stock tumbling ~5% into lunchtime:
First Half Results:
- Sales of $46.68bn +0.9% YoY, match Bloomberg estimates.
- Retail Sales $5.51bn, +0.2% YoY. estimates $5.5bn.
- Net Income $247mn, -17% YoY, Estimates $275.6mn, a 10.4% miss.
- Ebit $518mn, -13% YoY, estimates $556.8mn,
- Interim dividend 10.8c, estimates 12c per share.
The company said sales growth in both retail and hotels moderated in February compared to January, compounding the negative sentiment in the morning – the stock was higher early but lost its mojo in meaningful fashion throughout the day.
Trade Idea: we have been stopped out of EDV at $3.75
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