BUZZ-Australia's Webjet Group shares hit lowest in 2 years on earnings miss, dismal outlook

Reuters
2024-10-14

** Shares of Australia's Webjet Group fall as much as 32.2% to A$0.91

** Stock hits lowest since November 2022 and is on track for weakest session since 2001

** Co says 1H25 total transaction value and bookings for its WebBeds business, its travel brand, are ahead of 1H24 but misses estimates by Citi

** Co says WebBeds 1H25 preliminary underlying EBITDA margins are expected to be around 44%, lower than 52% reported a year ago

** Stock has risen 8.6% this year, as of last close

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Lisa Shumaker)

((Rishav.Chatterjee@thomsonreuters.com;))

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