Transurban (TCL) -2.2%: All largely inline with expectations – mildly stronger EBITDA and traffic, while distribution guidance remains unchanged.
- Proportional EBITDA: $1.59bn (+22% y/y)
- Revenue: $1.98bn (+8.2% y/y) in line with est.
- Interim distribution: $0.340 (vs A$0.320)
- FY distribution guidance: $0.69 maintained
Steady-as-she-goes – traffic growth and pricing deliver another reliable outcome
MM remains neutral TCL ~$14
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