The Environmental Group Cuts Fiscal Year 2026 Earnings Outlook; Shares Fall 25%
The Environmental Group (ASX:EGL) cut its fiscal year 2026 outlook for normalized earnings before interest, taxes, depreciation, and amortization (EBITDA) to between AU$8.5 million and AU$9 million from a previous range of AU$12.7 million to AU$13.5 million, according to a Friday filing with the Australian bourse.The lowered guidance reflects operational matters and higher fleet diesel costs at the EGL Energy division, as well as delayed project deliveries and a slower rate of tender awards from the Middle East for the EGL Baltec business.EGL Baltec and EGL Energy are expected to see an estimated fiscal 2026 normalized EBITDA impact of about AU$1.5 million and AU$2.5 million, respectively.Shares of Environmental Group fell 25% in recent Friday trade.
