Austal shares rocket as FY25 result beats forecasts
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More news: Austal shares surged in early trade after the ship builder's full-year profit and revenue beat market estimates, and earnings before interest and tax came in higher than the company's upgraded guidance.
Shares were up 18.1% to $7.97 at 10:50am AEST. The stock is now up 250% over the last year.
Austal posts leap in full-year profit, outstrips upgraded guidance
The news: Ship builder Austal has reported a surge in statutory profit in the 2025 financial year, boosted by the ramp up of new US defence programs and increased commercial shipbuilding in Australasia.
The numbers: The company delivered a profit of $89.7 million, up from $14.9 million last year, and beating average forecasts of $67.9 million, according to Visible Alpha.
Revenue rose 24% year on year to $1.8 billion, also edging out consensus estimates.
Earnings before interest and tax (EBIT) of $113.4 million more than doubled (101%) last year's result, and came in line with the company's full-year guidance, which was upgraded from "not less than $80 million" to "not less than $100 million".
The context: Austal CEO Patrick Gregg said it was a "significantly improved" financial result compared to a year earlier, following a "transformational year for the company."
He said the company's balance sheet is repositioned for a major expansion in manufacturing capacity, and further growth potential in its order book following its recent approval Australia's strategic shipbuilder.
The source: ASX
