Fletcher Building announces expected 1HFY23 results and updates FY23 earnings guidance

Fletcher Building Limited (ASX: FBU) announced its expected results for the 1HFY23, which will be released on 15 February 2023, and updated earnings guidance for the full-year FY23:

• For 1HFY23, the company expects its revenue of AU$4,284.0, increased by 5% from AU$4,064.0 compared to 1HFY22, and net profit after tax of AU$92.0 million, 46% lower than AU$171 million in HY22.
• In 1HFY23, the company reported cash uses in operating activities of AU$203 million compared to AU$157 million cash provided from operating activities in 1HFY22, mainly driven by the expected rebuild of land and housing stock following a significant drawdown in FY21 and FY22.
• For FY23, Fletcher Building expects its EBIT before significant items to be in the range of AU$800 million to AU$855 million.
• The company’s board expects to declare an interim dividend, which will be announced on 15 February 2023.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com