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Asia
Amcor Posts Higher Fiscal Q3 Adjusted Earnings, Net Sales; Lowers Fiscal 2026 Outlook
Amcor (ASX:AMC) reported Thursday fiscal third-quarter adjusted earnings of $0.96 per share, up from $0.90 a year earlier.Analysts polled by FactSet expected earnings of $0.95.Net sales for the three months ended March 31 was $5.91 billion, compared with $3.33 billion a year earlier. Analysts surveyed by FactSet expected $5.71 billion.The company narrowed its fiscal 2026 adjusted earnings guidance to $3.98 to $4.03, from its earlier outlook of $4 to $4.15 per share. Analysts polled by FactSet expect earnings of $3.96.The board declared a quarterly dividend of $0.65 per share, payable June 17 to shareholders on record as of May 28. In the same period last year, the dividend was $0.6375 per share, declared as $0.1275 before adjusting for the reverse stock split, which came into effect in January.In a separate filing, the company said it will change its fiscal year to start on Jan. 1 and end on Dec. 31, from a financial year that starts on July 1 and ends on June 30. Its first full year resulting from the change will be the year ending Dec. 31, 2027.
$ASX:AMC
Asia
Infratil's Mega Data Centre Deal Exceeds Expectations, Says Jarden
Infratil's (ASX:IFT) mega data center deal with an unnamed US investment-grade client is materially larger than expected, and underpins a strong buy thesis on the stock, Jarden said in a note on Wednesday.The company's CDC Data Centres business signed a 30-year agreement with the client for 555 megawatts of capacity. CDC expects EBITDAF to exceed AU$1 billion by fiscal 2028, and reach around AU$2 billion annually once the contract is fully deployed.The deal, the largest data center contract in Australia, could involve major US hyperscale cloud providers such as Microsoft, Amazon Web Services, or Google. Jarden said the agreement supports a growth premium in CDC's rolled-forward valuationThe risks to the deal include adverse changes in the US energy policy impacting Longroad, higher bond yields, and EBITDA falling short of forecasts, it added.Jarden provided a buy rating and kept the price target unchanged at NZ$14.56.
$ASX:IFT
Research
Research Alert: Apa: Q1 Strength In Crude Oil Pricing; Eps Beat And Robust Fcf
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:APA posted Q1 EPS of $1.38 vs. $1.06, beating consensus by $0.24, while production of 442,000 boe/d was down 6% as part of deliberate portfolio optimization. Volumes excluding NCIs fell 9% to 363,000 boe/d, though U.S. oil production remained flat at 124,000 b/d with Egypt contributing 71,000 boe/d. The company exceeded production guidance through Permian efficiency gains and improved uptime, reinforcing the strategic value of its oil-weighted profile amid weak natural gas pricing at $2.12/MMBtu. APA raised full-year U.S. oil production outlook to 122,000 b/d while maintaining Permian capex at $1.3B. Free cash flow generation of $477M represented a nearly fourfold increase, enabling $634M in debt repayments through April 2026 and reducing annual interest expense by over $60M. We believe the company's continued progress on cost reduction initiatives, targeting $450M in cumulative run-rate savings by year-end 2026, positions it well for sustained cash generation.
$APA