ASX:EDV

Update: Endeavour Group Fiscal 2026 Underlying Earnings Down, Revenue Up; Shares Fall 5%

(Updates with the stock movement in the headline and last paragraph.)Endeavour Group (ASX:EDV) logged AU$0.202 in underlying earnings per share for the fiscal 2026, compared with AU$0.237 a year ago, a Monday filing showed.For the 52 weeks ended June 28, revenue was AU$12.21 billion versus AU$12.06 billion previously, the Australia-listed drinks retailer and hotel operator added.The board declared a final dividend of AU$0.012 per share, down from AU$0.063 a year earlier, payable Oct. 1 to shareholders on record as of Sept. 2.The company expects fiscal 2027 capital expenditure to be between AU$550 million and AU$650 million.Endeavour Group shares fell almost 5% in recent Monday trade.

Endeavour Group Fiscal 2026 Underlying Earnings Down, Revenue Up

Endeavour Group (ASX:EDV) logged AU$0.202 in underlying earnings per share for the fiscal 2026, compared with AU$0.237 a year ago, a Monday filing showed.For the 52 weeks ended June 28, revenue was AU$12.21 billion versus AU$12.06 billion previously, the Australia-listed drinks retailer and hotel operator added.The board declared a final dividend of AU$0.012 per share, down from AU$0.063 a year earlier, payable Oct. 1 to shareholders on record as of Sept. 2.The company expects fiscal 2027 capital expenditure to be between AU$550 million and AU$650 million.

Endeavour Group Posts Fiscal 2026 Underlying EPS of AU$0.202, Group Sales of AU$12.21 Billion

Endeavour Group Appoints CFO

Endeavour Group (ASX:EDV) appointed Michael Casamento as chief financial officer, effective November, succeeding Kate Beattie, according to a Tuesday Australian bourse filing.Beattie will remain chief business services officer until retiring from executive roles in late 2027, the filing said.Casamento recently worked in the role of group CFO at Amcor (ASX:AMC), the filing added.

Bell Potter Downgrades Endeavour Group to Hold from Buy; Price Target is AU$3.60

Endeavour Group (ASX:EDV) has an average rating of hold and mean price target of AU$3.31, according to analysts polled by FactSet.

Endeavour Group Sales Likely Benefited From FIFA World Cup Tailwind Near End of Fiscal 2026, Jefferies Says

Endeavour Group's (ASX:EDV) sales accelerated across retail and hotels in the last nine weeks of fiscal 2026 compared with the first 16 weeks of the fiscal second half, likely buoyed by FIFA World Cup tailwinds, Jefferies said in a Wednesday note.Retail sales growth improved from 0.7% in the first 16 weeks to 2.1% in the last nine weeks of the fiscal second half, while hotel sales improved from 3.7% to 4.6%."Management didn't comment, but our scenario analysis suggests World Cup tailwind could have accounted for all the retail growth and half the hotels growth in last nine weeks," Jefferies said.It added that the tailwind "could be even larger" in the company's fiscal 2027 trading update due for release in August.Meanwhile, Endeavour Group's fiscal 2026 earnings before interest and taxes and net profit after tax both came in slightly below consensus estimates, with a weaker retail margin likely reflecting price investment and depremiumization that could persist into fiscal 2027, the investment firm said.Jefferies believes cash consulting fees were a material contributor to pre-tax significant items of AU$372 million, but inventory and asset impairments may benefit underlying earnings going forward.It maintained a hold rating on Endeavour Group with a price target of AU$3.20.Endeavour Group's shares added more than 1% in recent Thursday trade.

Update: Endeavour Group Reports Lower Preliminary Underlying Profit After Tax for Fiscal 2026

(Updates to add stock movement in the last paragraph)Endeavour Group (ASX:EDV) reported preliminary fiscal 2026 underlying profit after tax of AU$363 million, down from AU$426 million in the previous fiscal year, according to a Wednesday filing with the Australian bourse.Preliminary fiscal 2026 group sales increased to AU$12.21 billion from about AU$12.06 billion in fiscal 2025, per the filing.The company expects to recognize a net AU$$372 million of pre-tax significant item expenses in fiscal 2026, which are predominantly non-cash and relate to the write down of carrying values for assets as well as cash costs linked to the implementation of its strategy review.Endeavour is due to report final audited results for fiscal 2026 on Aug. 24.The company's shares fell around 2% in recent Wednesday trade.

Endeavour Group Reports Lower Preliminary Underlying Profit After Tax for Fiscal 2026

Endeavour Group (ASX:EDV) reported preliminary fiscal 2026 underlying profit after tax of AU$363 million, down from AU$426 million in the previous fiscal year, according to a Wednesday filing with the Australian bourse.Preliminary fiscal 2026 group sales increased to AU$12.21 billion from about AU$12.06 billion in fiscal 2025, per the filing.The company expects to recognize a net AU$$372 million of pre-tax significant item expenses in fiscal 2026, which are predominantly non-cash and relate to the write down of carrying values for assets as well as cash costs linked to the implementation of its strategy review.Endeavour is due to report final audited results for fiscal 2026 on Aug. 24.

Endeavour Group Gains Gaming Market Share in Victoria Despite EGM Spending Slowdown, Jefferies Says

Endeavour Group (ASX:EDV) is gaining gaming market share in Victoria as electronic gaming machine (EGM) spending in Victoria and Queensland remains resilient despite moderating from recent peaks, Jefferies said in a note on July 24.Jefferies said the recent moderation in EGM spending is not enough to signal weakening consumer demand, as it may simply reflect tougher year-ago comparisons, with a clearer trend expected to emerge over the coming months.The research firm estimates the company outperformed the Victorian market in fiscal 2026, with gaming revenue across its tracked 77 venues rising 6.7% year over year, lifting market share 27 basis points to roughly 25%.It added that Queensland's EGM spending outpaced Victoria's, with fiscal 2026 expenditure estimated to have risen 8.1%, supported by June gaming revenue growth that lifted full-year hotel and club revenue 7.3% and 9.2%, respectively.Jefferies cautioned that retail sales growth is likely to remain below underlying cost inflation for the foreseeable future, despite the resilience in the company's gaming business and improvements in its retail operations.Jefferies maintained its hold rating and AU$3.20 per share price target on Endeavour Group.Endeavour Group's shares added about 1% in recent Monday trade.

Endeavour a Great Business in Tough Market, Jarden Says

Endeavour Group (ASX:EDV) is a great business operating in a tough market, which needs to work out how to generate greater profitability from its current network of stores, pubs, digital channels, and data, Jarden said in a Thursday note.The management's comments regarding no further re-basing of prices, a focus on reducing the cost of doing business, and growing top line are all positive.Endeavour remains well-positioned to outpace hotel market growth via ongoing investment in both EGMs and premises outlined at the strategy day.The investment firm has an underweight rating on Endeavour and a price target of AU$3.10 per share.

Endeavour Group's Proposed NSW Acquisition for Liquor Store Site Under ACCC Review

Endeavour Group's (ASX:EDV) proposed acquisition of a leasehold interest for retail space in New South Wales for a Dan Murphy's liquor store is under phase 1 review by the Australian Competition and Consumer Commission (ACCC), the regulator said Monday.The proposed site being acquired from Avalon has a trading area of 340 square meters, the regulator said.

News Corp's Content Agency Launches Retail Media Division

News Corp's (ASX:NWS) Australia content agency, Suddenly, launched a retail media division, partnering with liquor retailer and Endeavour Group (ASX:EDV) unit BWS to manage non-endemic sales for its national in-store screen network, the media and information services company said in a statement on Tuesday.Jennifer Stokes joins the content agency as retail media director to lead the new division, the statement said.News Corp shares rose 2% in morning trade on Tuesday.

Market Chatter: Endeavour Group Offers Scope for Market Share Gains, Citi Says

Endeavour Group (ASX:EDV) offers scope for market share gains despite near-term earnings uncertainty, according to Citi analyst Sam Teeger, the Australian Financial Review (AFR) reported on Thursday.The new management's focus on price could help it regain share from Coles (ASX:COL) and other competitors, particularly in the retail alcohol space, Teeger said, per the report.He sees any asset sales in the company's wine and vineyard portfolio as a potential positive for execution focus.Citi upgraded Endeavour to buy and lowered the price target by 6% to AU$3.25.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Endeavour Group Faces Structural Consumption Headwinds, Says Jefferies

Endeavour Group (ASX:EDV) is facing structural headwinds to alcohol consumption, alongside a challenging consumer spending environment, which explains why management has not provided explicit earnings growth targets, according to a Thursday Jefferies note.Excess inventory is expected to support stock-related profits in fiscal year 2027, and there could also be upside if Coles Group (ASX:COL) exits the large-format liquor retail segment, the note added.Jefferies said that regulatory risk related to gaming operations remains an ongoing concern, and although the valuation appears depressed, the pathway to growing gross profit faster than costs remains unclear.Jefferies kept a hold rating on Endeavour and decreased its price target to AU$3.20 from AU$3.50.

Australian Shares Up; Endeavour Group Targets AU$300 Million of Cost Savings by Fiscal Year 2029, to Exit Non-Core Winery, Agricultural Assets

Australian shares rose on Wednesday as the US stock indices reached new records overnight.The S&P/ASX 200 Index increased by 0.69%, or 59.90 points, to close at 8,717.70.Brent crude oil futures hovered around $98 per barrel as investors expected progress for a peace agreement between the US and Iran.The S&P 500 and the Nasdaq Composite rose 0.6% and 1.2%, respectively, hitting record highs.On the domestic front, Australia's consumer price index rose 4.2% in the 12 months to April, down from a 4.6% increase in the year to March, the Australian Bureau of Statistics reported. Trimmed mean inflation came in at 3.4% in the 12 months to April, up from 3.3% in the year to March.The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index slipped deeper into negative territory, declining to about -0.2% in April from -0.1% in March, according to a Westpac report.In company news, Endeavour Group (ASX:EDV) is targeting AU$300 million of cost savings to be delivered by fiscal year 2029. It also plans to exit or sell non-core winery, as well as agricultural assets, reduce its own grape production by over 80%, and concentrate investment on high-performing brands with proven retail demand within its Pinnacle Drinks business.The Australian Federal Court ordered Westpac Banking (ASX:WBC, NZE:WBC) to pay AU$26 million in civil penalties after failing to respond to over 200 online hardship requests within the time required by law from 2017 to 2023.Lastly, KMD Brands (ASX:KMD, NZE:KMD) reported a 5.2% jump in fiscal third-quarter sales, helped by strength in its flagship Kathmandu segment, even as its footwear business Oboz saw a decline amid geopolitical and market tensions. Its board is also conducting a business review to improve shareholder returns.

Endeavour Group to Exit Non-Core Winery, Agricultural Assets, Cut Own Grape Production by Over 80% Following Review of Wine Portfolio; Shares Reach Lowest Point

Endeavour Group (ASX:EDV) said it plans to exit or sell non-core winery as well as agricultural assets, reduce its own grape production by over 80%, and concentrate investment on high-performing brands with proven retail demand within its Pinnacle Drinks business, according to a Wednesday statement.This is expected to result in around 99% flexible sourcing of purchased bulk wine and grapes from the viticulture market.It also plans to streamline production and packaging to a smaller number of high-scale sites. Winery operations will be consolidated from seven sites to three, with Cape Mentelle in Western Australia, the Dorrien Estate in South Australia, and the Isabel Estate in New Zealand being retained.It will seek a new owner for the Oakridge brand and operation in the Yarra Valley. The Chapel Hill, Riddoch Coonawarra, and Krondorf Barossa brands will be retained, but their vineyards and physical assets are expected to be sold. Chapel Hill operations will close at the end of June.The firm does not intend to renew its lease of Josef Chromy, and assets associated with the business are under review.A high-scale packaging facility will be retained at Vinpac Angaston in the Barossa Valley in South Australia. The Vinpac McLaren Vale bottling facility will close later in the year.Endeavour Group's shares fell 4% in recent trading on Wednesday, reaching their lowest-ever point.

Endeavour Group Targets AU$300 Million of Cost Savings by Fiscal 2029; Shares Hit All-Time Low

Endeavour Group (ASX:EDV) is targeting AU$300 million of cost savings to be delivered by fiscal 2029, according to a Wednesday Australian bourse filing.The company revised its targeted dividend payout ratio to between 50% and 75% of group underlying net profit after tax, the filing said. It also plans to lift investment in its hotels network via light touch renewals, refurbishments, and whole of venue repositioning.In the same filing, the company said it will also be exiting the majority of its existing winery and vineyard portfolio, including Chapel Hill, Oakridge, and Josef Chromy, as its Pinnacle Drinks business is repositioned to support retail.The company's shares fell nearly 4% in recent trading on Wednesday and earlier hit an all-time low.

Endeavour Group Faces Softer Growth Outlook Amid Moderating Gaming Spend, Jefferies Says

Endeavour Group (ASX:EDV) is seeing slowing momentum in gaming expenditure growth across Victoria and Queensland, while retail sales are expected to struggle to outpace inflation amid weakening consumer conditions, Jefferies said in a May 24 note.In Victoria, electronic gaming machine (EGM) spending at hotels and clubs rose 4.2% year over year to about AU$267 million in April, up from 2.9% in March, showing resilient gaming activity despite broader economic pressures.Queensland showed moderating growth, with EGM expenditure in hotels and clubs up 4.2% year-on-year to about AU$320 million in April, down from 6.4% in March, as hotel gaming rose 4% and club gaming 4.4%.Jefferies noted that spending on EGM in clubs and hotels across Victoria and Queensland is still increasing, though at a tighter pace, making it unclear whether the slowdown reflects weaker consumer confidence and household spending or tougher comparisons after a strong growth period.The firm remains "on the sidelines" regarding Endeavour Group despite acknowledging strong retail execution and operational improvements, as modest sales growth, rising costs, and softer consumer conditions continue to weigh on its outlook.The investment firm has a hold rating on Endeavour Group with a price target of AU$3.50 per share.

Endeavour Group Confirms Tim Poole as Independent Chairman

Endeavour Group's (ASX:EDV) board confirmed the appointment of Tim Poole as its independent chairman, effective Thursday, according to a same-day filing with the Australian bourse.Duncan Makeig has completed his term as the company's interim chairman and will remain as a non-executive director, per the filing.Endeavour Group shares were down 2% in recent Thursday trade.

Jarden Adjusts Endeavour Group's Price Target to AU$3.20 From AU$3.10, Keeps at Underweight

Endeavour Group (ASX:EDV) has an average rating of hold and mean price target of AU$3.51, according to analysts polled by FactSet.