Fletcher shares dive after earnings downgrade

CEO Ross Taylor said bad weather is heavily impacting results. (Image: NZME)

Mon, 13 Feb 2023

Fletcher Building has downgraded its full-year guidance and said its first-half operating profit was up 8%.Earnings before interest and tax (Ebit) for the year ending June is now expected to come in between $800 million and $855m, down from its previous guidance of $855m or more, and the company said this reflects bad weather in January and February.Fletcher shares fell as much as 5.9%, or 32 cents, to $5.10 in early trading on Monday but ended at $5.13 at market close. Ebit for the six months ended December came in at $360m, up from $332m...

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