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Asia

EML Payments Says Regulators Extend Date for Implementation of Required Guarantee Structure

EML Payments (ASX:EML) said the Australian Prudential Regulation Authority (APRA) and Reserve Bank of Australia (RBA) agreed to extend the date for implementation of the required authorized deposit-taking institution guarantee structure, subject to EML Payment Solutions showing "satisfactory progress" towards obtaining the guarantee via periodic reporting, according to a Friday Australian bourse filing.EML Payment Solutions is engaging with several domestic and international financial institutions, as well as legal advisors and trustee service providers, to design the required guarantee structure.The regulators had earlier said that they require the firm to obtain a guarantee from an authorized deposit-taking institution in respect of stored value liabilities for certain EML Payment Solutions programs by Thursday.

ASX:EML
Asia

EML Payments' Guidance Cut Reflects Timing Issues, Deferral of Revenue, Jefferies Says

EML Payments' (ASX:EML) recent cut to fiscal 2026 guidance reflects timing issues and a deferral of revenue as opposed to a loss of customer contracts, Jefferies said in an April 17 note.The company on April 13 revised its fiscal-year underlying earnings before interest, taxes, depreciation, and amortization guidance to a range of AU$47 million to AU$50 million from AU$58 million to AU$60 million.The outlook downgrade came amid delayed program implementations and softer trading in the company's Northern Hemisphere businesses as economic uncertainty increased.Jefferies said the company still faces a significant ramp to reach its AU$125 million pipeline target by June. There are risks to this target due to economic uncertainty, and EML's fiscal 2028 target of AU$95 million in underlying EBITDA may also be pushed out as a result of the slowdown, the equity research firm said."Given the phase of transition EML is in, we apply a 15% discount for the uncertainty associated with earnings," Jefferies said in commentary on the company's valuation.It lowered EML's price target to AU$0.66 from AU$0.78 while retaining a buy rating on the stock.Shares of EML were nearly 4% higher in recent Monday trade.

ASX:EML
Asia

Australian Shares Slide; Monash IVF Group Receives Sweetened Takeover Offer from Genesis, Soul Patts Consortium

Australian shares slid on Monday's close as the US moved to blockade the critical Strait of Hormuz, sending oil prices up.The S&P/ASX 200 Index declined 0.39% or 34.60 points to close at 8,926.The US Central Command said the US will begin implementing a blockade of all maritime traffic entering and leaving Iranian ports after peace talks between Iran and the US broke down over the weekend.A report from The Wall Street ​Journal said that Trump and his ​advisers were considering limited ⁠strikes on Iran. Brent crude oil futures spiked around 7% to reach $102.17 per barrel early on Monday. Gold fell 0.7% to $4,714 per ounce.In company news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire all its shares by way of a scheme of arrangement at AU$0.90 per share. Its shares closed up 16%.a2 Milk (NZE:ATM, ASX:A2M) said its infant milk formula business in China is experiencing "temporary in-market product availability issues" that will likely impact the company's performance in fiscal 2026, resulting in a cut to guidance. Its shares fell 12% on market close.Lastly, EML Payments (ASX:EML) revised its fiscal-year underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance to a range of AU$47 million to AU$50 million from AU$58 million to AU$60 million. Its shares plunged 34% on market close, earlier reaching an over 12-year low point.

ASX 200ASX:A2MASX:EMLASX:MVF
Asia

EML Payments Revises Underlying EBITDA Guidance; Shares Hit Over 12-Year Low

EML Payments (ASX:EML) revised its fiscal-year underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance to a range of AU$47 million to AU$50 million from AU$58 million to AU$60 million, according to a Monday filing with the Australian bourse.The downgrade is due to the reduced revenue expected in the fiscal year, with a number of program implementations going live later than expected and lower than forecast trading in the northern hemisphere businesses during the third quarter, the filing said.Shares fell nearly 31% in afternoon trade on Monday and earlier reached their lowest since August 2013.

ASX:EML