Infrastructure

Reading the tea leaves: did Fletcher upgrade or downgrade?

Jenny Ruth
Fri, 13 May 2022

Reading the tea leaves: did Fletcher upgrade or downgrade?
Steel prices have been rising much faster than volumes. (Image: iStock)
Jenny Ruth
Fri, 13 May 2022
Did Fletcher Building upgrade its earnings guidance last week? Or did it downgrade?Since the building products company spoke at a Macquarie event on May 3, Fletcher shares have dropped as much as 6%, so that suggests it downgraded expectations.What the slides said was that it expected annual earnings before interest and tax (ebit) to come in at about $750 million, which is exactly the same guidance it gave in February when it reported first-half ebit of $332m.But Forsyth Barr's co-head of markets, Darren Manning, said in a note to instituti...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

My Net Worth FREE
My Net Worth: Zac Stephenson, managing director, MediaCom
Daniel Dunkley | Sun, 03 Jul 2022

MediaCom managing director Zac Stephenson says he's proud of surviving in the media industry, which can be stressful and intense. 

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.