Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi, Thankyou for continuing to provide the best overall stock (general) advice around... Do you have any thoughts on why WOR is performing so badly? Can you possibly compare the relative commentary to your preferred services sector choice?
Hi Tony,
Eight months ago Worley’s largest shareholder, Dubai-based infrastructure group Sidara (née Dar Group), locked in $14.35 a share for its sale of a 19% stake, with the sell-down demonstrating Sidara had abandoned hopes of acquiring Worley or striking a broader strategic relationship with it 7-yars after starting to build a stake.
The stocks subsequently underperformed in 2024, trading lower in a rising market even while performing operationally, but some other headwinds have evolved:
We like WOR as a business and believe over time they will continue to expand margins on a big base of revenue; hence earnings will grow, and the share price will ultimately follow, but right here and now, we are re-evaluating our position as the stock struggles to find buyers in the short term. Maybe our funds are better used for now elsewhere, with both Downer (DOW) and Ventia (VNT) alternatives after Thursdays share declines.
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