NRW Holdings hikes guidance after sealing Fredon Industries buyout
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The news: Construction and mining contractor NRW Holdings has upgraded its full-year guidance as it announced the completion of its $200 million acquisition of Fredon Industries this morning.
The numbers: NRW now expects FY26 revenue to be in excess of $4 billion, up from previous guidance of over $3.4 billion.
The company has guided full-year EBITA of between $255 million and $265 million, up from the previous range of $218 million to $228 million.
The context: NRW said the guidance update came after incorporating Fredon's results. The company noted that Fredon has had a "solid start to the year", with an increasing level of tender activity associated with the growing demand for its heating, ventilation, and air conditioning offerings.
Meanwhile, NRW said all sectors of its core business has seen an improved level of activity in first three months of FY26, bringing "improved opportunities".
What they said: "Since the announcement there has been significant positive feedback and interaction with Fredon and their clients and we look forward to supporting Fredon's growth initiatives which align with creating long-term shareholder value," said NRW managing director Jules Pemberton.
The source: ASX
