7 stories mentioning ASX:BAPUpdated 59m ago
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Bapcor (ASX:BAP) said JPMorgan Chase and its affiliates became substantial holders of the firm as of Sept. 17, acquiring voting power of 5.68%, according to a Tuesday Australian bourse filing.The bank holds 38.2 million shares of the firm as of Sept. 17.Bapcor's shares jumped nearly 6% in recent trading on Tuesday.
Bapcor (ASX:BAP) said Citigroup Global Markets Australia and related entities became a substantial holder in the company on Sept. 8, with a 5.0275% stake or 33.8 million shares, according to a Thursday Australian bourse filing.
Bapcor (ASX:BAP) said it remains on track to meet its fiscal 2026 guidance, targeting underlying earnings before interest, taxes, depreciation and amortization (EBITDA) of AU$144 million to AU$150 million on a post-AASB 16 basis and AU$62 million to AU$68 million on a pre-AASB 16 basis, according to a Wednesday filing with the Australian bourse.The company's shares rose around 10% in recent Wednesday trade.
Bapcor (ASX:BAP) secured revised covenant arrangements with its lenders for the fiscal 2027 testing periods, providing the company with further financial flexibility, according to a Wednesday filing with the Australian bourse.Net leverage ratio now increases to 3.5 times adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) on Dec. 31 before reverting to 3 times adjusted EBITDA for testing on June 30, 2027, and thereafter, the filing said.Additionally, fixed charge cover ratio reduces to 1.30 times adjusted EBITDA on Dec. 31 and June 30, 2027, before reverting to 1.75 times adjusted EBITDA for testing on Dec. 31, 2027, and thereafter, per the filing.
Bapcor (ASX:BAP) said JPMorgan Chase and its affiliates ceased to be substantial holders of the firm on July 16, according to a Monday Australian bourse filing.
Bapcor's (ASX:BAP) turnaround initiatives are gaining traction operationally, but weaker trading conditions are limiting near-term earnings flow-through, Jefferies said in a Monday note.Bapcor lowered its fiscal 2026 guidance for underlying earnings before interest, taxes, depreciation and amortization (EBITDA) to between AU$144 million and AU$150 million from the previous guidance of AU$150 million to AU$160 million.The downgrade to its underlying EBITDA guidance reflects a business mid-turnaround being impacted the fuel shock caused by the conflict in the Middle East in an already depressed market, with cost inflation and weaker demand driving a fiscal 2026 downgrade despite improving execution.The investment firm upgraded its recommendation to buy from hold and lowered the price target to AU$0.65 from AU$1.05.
Bapcor (ASX:BAP) lowered its fiscal 2026 guidance for underlying earnings before interest, taxes, depreciation and amortization (EBITDA) to between AU$144 million and AU$150 million on a post-AASB 16 basis, and to AU$62 million to AU$68 million on a pre-AASB 16 basis, according to a Thursday filing with the Australian bourse.The cut comes amid material deterioration in trading conditions since late March, with softer conditions expected to continue through the fiscal year as the Middle East conflict hampers business confidence and consumer sentiment, the company said.In February, Bapcor guided for fiscal 2026 underlying EBITDA of AU$150 million to AU$160 million on a post-AASB 16 basis, and AU$74 million to AU$79 million on a pre-AASB 16 basis.The guidance cut also reflects expectations for fuel, freight, and supplier costs to remain elevated in May and June, with currency depreciation negatively impacting the earnings of the company's New Zealand business segment, it said.Bapcor is looking to mitigate the fuel price increase through targeted pricing adjustments in select business units, but cautioned that current trading conditions could result in a non-cash impairment.
