2204 GMT - Orica's FY 2024 result should help to build confidence that the mining explosives maker remains in the early stages of a multi-year earnings upcycle, Jefferies says. "Whilst it is disappointing that guidance points to a jump in depreciation and amortization in FY 2025, it doesn't detract from the very positive FY 2025 and FY 2026 outlook," analyst Henry Copley says. The outcome of the U.S. is also a boon. Jefferies sees Orica benefiting from the incoming Trump administration as natural-gas prices are expected to fall and the Quarrying and Construction market is likely to recover. It retains a buy call on Orica's stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 14, 2024 17:05 ET (22:05 GMT)
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