Transurban posts profit of $343m for HY on increased daily traffic
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The news: Transurban swung to a first-half statutory profit of $343 million, compared to a $15 million loss in the prior corresponding period, as average daily traffic was supported by growth in all regions.
The numbers: Analysts were expecting a half-year profit of $303.5 million, according to Visible Alpha data.
Revenue was $1.6 billion, missing market forecasts of $1.95 billion.
Proportional operating earnings before interest and tax (EBIT) rose 6.4% to $1.54 billion.
The average daily traffic (ADT) was up 2.5% year-on-year to 2.6 million trips.
Transurban declared an interim dividend of 34 cents per share, up from 32 cents a year earlier, and in line average estimates of 34 cents.
The context: Transurban CEO Michelle Jablko attributed the earnings result to key projects in North America and Melbourne, including the 495 Northern Extension and the opening of the West Gate Tunnel, alongside strong traffic performance with average daily trips reaching 2.6 million.
The company reaffirmed its FY26 guidance, with the payout ratio expected to be within the 95%-105% range and distributions of 69 cents per share.
The source: ASX
