2243 GMT - Jefferies takes a less rosy view of GrainCorp's earnings over the next two years, after the grain handler's management signaled profit margins are being squeezed by strong crop production world-wide. GrainCorp's commentary overshadowed its FY 2024 earnings that were in line with guidance and a stronger dividend payout than Jefferies was expecting. "It's difficult for us to gauge the extent of margin pressure this early in the new year," says analyst John Campbell. "Nonetheless, we've cut FY 2025-2026 EPS -12%, -13%." GrainCorp intends to provide earnings guidance at its annual meeting of shareholders in February. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 14, 2024 17:44 ET (22:44 GMT)
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