ASX:BWN

3 stories mentioning ASX:BWNUpdated 52d ago

Every FINWIRES story that references ASX:BWN, newest first.

Bhagwan Marine Disappoints Market With Core Business Earnings Miss, Euroz Hartleys Says

Bhagwan Marine (ASX:BWN) disappointed the market with a core business earnings miss after an earlier equity raise to purchase Riverside Marine, which adds earnings quality, margin, and visibility, Euroz Hartleys said in a note on Wednesday.Investors are now cautious about the ability of Bhagwan to deliver consistent earnings in the context of marine infrastructure, defense, decommissioning, and port volumes.Euroz Hartleys pulled 2027 combined business earnings before interest, taxes, depreciation, and amortization (EBITDA) back to AU$66 million.The investment firm retained its buy rating on Bhagwan Marine, while the price target was reduced to AU$0.53 per share from AU$0.87 per share.

ASX:BWN

Asia53d ago

Opportunities for Bhagwan Marine Across Business Remain, Euroz Hartleys Says

Bhagwan Marine (ASX:BWN) will see full the benefit of the Riverside Marine acquisition in 2027, and the opportunities across the business remain, despite a disappointing trading update, Euroz Hartleys said in a note on Tuesday.Bhagwan's consolidated fiscal year 2026 EBITDA is expected to be in the range of AU$44.5 million to AU$46.5 million. The analysts had forecast EBITDA of AU$57.5 million.There remain numerous projects in oil and gas, defense, and marine infrastructure, which includes decommissioning and supports the idea of significant utilization increases over 2027 and the medium term. The demand drivers that support the investment case "are seemingly still in place."The investment firm retained its buy rating and a price target of AU$0.87, which was placed under review.Bhagwan Marine's shares tumbled 28% in recent Tuesday trade and earlier hit a record low.

ASX:BWN

Asia53d ago

Bhagwan Marine Flags Delays to Certain Spot, Short-Term Projects; Shares Reach All-Time Low

Bhagwan Marine (ASX:BWN) flagged delays to the award and start of certain spot and short-term projects due to the effects of the conflict in the Middle East, according to a Tuesday Australian bourse filing.It now expects fiscal year 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) in the range of AU$38.5 million to AU$40.5 million, excluding contributions from Riverside Marine and acquisition costs.Bhagwan's consolidated fiscal year 2026 EBITDA is expected to be in the range of AU$44.5 million to AU$46.5 million, excluding Riverside Marine acquisition costs.Riverside Marine's charter business, Riverside Oceanic, also experienced similar delays, while Bhagwan Marine's towage and industrial sands operations are tracking at or ahead of expectations.Its shares fell 25% in recent trading on Tuesday, reaching their lowest-ever point.

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