BUZZ-Australian fuel retailer Viva Energy plunges on profit miss, bleak outlook

Reuters
25 Feb
BUZZ-Australian fuel retailer Viva Energy plunges on profit miss, bleak outlook

** Shares of Australian fuel retailer Viva Energy Group VEA.AX fall 22.1% to A$1.870, their lowest level since April 26, 2021

** VEA fell as much as 24.27% to A$1.818 earlier in the day, marking its worst intraday pct drop ever

** VEA is the second biggest loser in the ASX200 benchmark index .AXJO

** More than 11.9 million shares change hands vs the 30-day average of 4.1 million shares

** VEA FY24 underlying profit down 20% at A$254.2 million ($161.24 million), and below the Visible Alpha consensus of A$260.6 million

** Convenience and Commercial segment's combined EBITDA outlook of A$270 million to A$330 million, below VA consensus of A$380 million

** "Another disappointment, with material consensus estimate downgrades implied by commentary," says Jefferies

** VEA down 29.5% this year, including the session's move

($1 = 1.5765 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10