Austin Engineering Cuts Fiscal 2026 Revenue, EBIT Guidance; Shares Near Five-Year Low
Austin Engineering (ASX:ANG) cut its guidance for fiscal 2026 revenue and earnings before interest and tax (EBIT) due to operational challenges in North America and South America and because of a delay of certain product deliveries, which is now expected to occur in fiscal 2027, according to a Tuesday Australian bourse filing.Fiscal 2026 revenue guidance was revised down to around AU$325 million from the previous guidance of over AU$350 million, the company said. Meanwhile, EBIT guidance was revised to between AU$10 million and AU$11 million from between AU$14 million and AU$16 million.Operational performance in North America continues to improve, with productivity increasing to 75% from 62%, while performance in South America remained below expectations, the company added.Austin Engineering's shares fell nearly 8% in recent Tuesday trade and earlier reached their lowest since July 2021.
