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ASX:MTS

12 stories mentioning ASX:MTSUpdated 37d ago

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Asia

Jefferies Sees Potential Upside in Metcash's Hardware Business

Metcash (ASX:MTS) had a robust start to fiscal 2027 for its Hardware business despite challenging conditions, as sales momentum improved after a weak May, Jefferies said in a note on Monday.The firm sees room for upside in hardware business' margins, with potential for AU$13 million to AU$54 million to be added to group EBIT if conditions improve.The wholesale distributor reported strong cashflow, with fiscal 2026 operating cash flow reaching AU$558 million, beating Jefferies' estimate of AU$519 million."MTS is proving to be one of the best cash generators in our coverage," the firm commented.The decline in Tobacco sales appears to have bottomed due to market share gains and increased enforcement, it added.Jefferies maintained a buy rating and price target of AU$3.50.

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Asia

Metcash's Results Show Strong Cashflow, Continued Margin Pressure on IHG, Says Jefferies

Metcash (ASX:MTS) delivered another strong cash flow performance in its fiscal year 2026 results while margin pressures continued on its Independent Hardware Group business, according to a Monday Jefferies note.The company reported Monday fiscal year 2026 underlying earnings of AU$0.245 per share, down from AU$0.251 a year earlier. Analysts polled by FactSet expected earnings of AU$0.24 per share.The company's performance was particularly strong for the Hardware and Tools division, especially given the challenging economic backdrop, the note added.Jefferies noted that the food division had a softer start to the period, although trading trends improved in June.Jefferies kept a buy rating on Metcash with a price target of AU$3.50.The company's shares fell 2% on market close.

ASX:MTS
Asia

Australian Shares Flat; Inghams Moves to State of High Biosecurity Vigilance After H5N1 Bird Flu Confirmed in Western Australia

Australian shares were flat on Monday, as investors reacted to signs of progress in talks between the US and Iran.The S&P/ASX 200 Index was little changed to close at 8,816.10.Brent crude oil futures traded around $79 per barrel.Iranian negotiators said progress had been made in talks with the US, while mediators released a statement saying the first session of talks had concluded and progress had been made on a roadmap to reach a final deal.Iran earlier said it had once again closed the Strait of Hormuz.In company news, Inghams Group (ASX:ING) moved to a state of heightened biosecurity vigilance to mitigate against any potential risks after Australian authorities confirmed the detection of the H5N1 avian influenza strain in two wild birds found in the Esperance region of Western Australia. It clarified that there had been no detection of the virus in commercial poultry, including Ingham's operations and its supply chain.Metcash (ASX:MTS) reported fiscal year 2026 underlying earnings of AU$0.245 per share, down from AU$0.251 a year earlier. Revenue for the 12 months ended April 30 was AU$17.35 billion, compared with AU$17.32 billion a year earlier.Lastly, Credit Corp Group (ASX:CCP) ceased discussions with Humm Group (ASX:HUM) regarding a potential acquisition, ending takeover talks after the parties were unable to agree on terms. Credit Corp identified unresolved concerns during commercial due diligence and reduced its indicative offer.

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Asia

Nine Entertainment's QMS Unit Strikes Retail Media Network Partnership With Metcash

Nine Entertainment (ASX:NEC) said it QMS advertising and digital billboard business struck an agreement to represent Metcash's (ASX:MTS) LocalEyes retail media network across Australia, according to a Monday statement.The agreement is effective Sept. 1 and includes an initial 860 digital screens across Metcash's food, liquor and hardware network.Nine Entertainment shares fell nearly 1% in recent Monday trade, while Metcash shed over 2%.

ASX:MTSASX:NEC
Asia

Update: Metcash Posts Lower Fiscal 2026 Underlying Earnings, Higher Revenue

(Updates to add stock movement in the last paragraph)Metcash (ASX:MTS) reported Monday fiscal 2026 underlying earnings of AU$0.245 per share, down from AU$0.251 a year earlier.Analysts polled by FactSet expected earnings of AU$0.24 per share.Revenue for the 12 months ended April 30 was AU$17.35 billion, compared with AU$17.32 billion a year earlier. Analysts surveyed by FactSet expected AU$17.39 billion.The board declared a final dividend of AU$0.095 per share, unchanged from the prior corresponding period, payable Aug. 26 to shareholders on record as of July 15.The company has suspended its dividend reinvestment plan with immediate effect, applying to the final dividend.The company's shares rose past 2% in recent Monday trade.

ASX:MTS
Asia

ASX Preview: Australian Shares Set to Fall on US-Iran Tensions; Metcash Posts Lower Fiscal Year 2026 Underlying Earnings, Higher Revenue

Australian shares are poised to fall on Monday amid renewed US-Iran tensions, including threats to resume conflict and reports that the Strait of Hormuz has been closed again, heightening fears of oil supply disruptions.In the macroeconomy, investors are eyeing Australia's upcoming consumer price index report on Wednesday.In corporate news, Metcash (ASX:MTS) reported Monday fiscal 2026 underlying earnings of AU$0.245 per share on revenue of AU$17.35 billion, compared with earnings of AU$0.251 on revenue of AU$17.32 billion a year earlier.Atlas Arteria (ASX:ALX) said IFM Group increased its stake in the company to 42.01% on June 19, up from 39.61%.Australia's benchmark index fell 0.9% or 82.4 points to close at 8,828.70 on June 19.

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Asia

Metcash Posts Lower Fiscal 2026 Underlying Earnings, Higher Revenue

Metcash (ASX:MTS) reported Monday fiscal 2026 underlying earnings of AU$0.245 per share, down from AU$0.251 a year earlier.Analysts polled by FactSet expected earnings of AU$0.24 per share.Revenue for the 12 months ended April 30 was AU$17.35 billion, compared with AU$17.32 billion a year earlier. Analysts surveyed by FactSet expected AU$17.39 billion.The board declared a final dividend of AU$0.095 per share, unchanged from the prior corresponding period, payable Aug. 26 to shareholders on record as of July 15.The company has suspended its dividend reinvestment plan with immediate effect, applying to the final dividend.

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Asia

Metcash to Benefit From Food Inflation Tailwind, Says Jefferies

Metcash (ASX:MTS) is expected to benefit from a sales tailwind driven by ongoing food inflation worsened by the US-Iran war, Jefferies said in a note on Monday.The wholesale distributor's pre-declared results hint at a notable recovery in liquor margins, and the company is poised to report its fiscal year 2026 results on June 22 in line with expectations.The investment firm said improvement in the hardware segment is likely delayed, as it continues to struggle under tough macroeconomic conditions. However, much of the weakness is already reflected in the base, limiting further downside.Jefferies said sales decline in tobacco, which fell by 29% in fiscal year 2026, may have bottomed and sees trends to stabilize as the impact of stricter enforcement and packaging rule changes begins to pass.The brokerage expects management to comment on potential one-off items in fiscal year 2027 and further detail on progress towards more than $25 million in annualized cost savings.Jefferies maintained a buy rating on Metcash and kept its AU$3.50 price target.

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Asia

Vicinity Centres Appoints Patrick Allaway as Chairman-Elect as Trevor Gerber Announces Retirement

Vicinity Centres (ASX:VCX) said independent non-executive chairman Trevor Gerber intends to retire from the board at the 2026 annual general meeting on Oct. 28, with Patrick Allaway appointed as a non-executive director and chairman-elect effective June 15, according to a Monday Australian bourse filing.The company said Allaway will succeed Gerber as chairman at the conclusion of the meeting, subject to his election as a director by security holders.Allaway is currently a member of the Adobe International Advisory Board, having previously served as chairman of Bank of Queensland (ASX:BOQ) and as a non-executive director of Allianz Australia, Dexus Funds Management, Macquarie Goodman Industrial Trust, and Metcash (ASX:MTS), among others, it added.

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Asia

Metcash's Lack Of Hardware Leg-Down in Wake of Middle East Conflict 'Reassuring,' Jefferies Says

Metcash's (ASX:MTS) liquor margin rebound was the highlight of its trading update, and the lack of hardware segment leg-down since the start of the conflict in the Middle East is "reassuring," Jefferies said in a note on Monday.The hardware and tools segment saw revenue growth accelerate to 6.2% in the fiscal second half from 2.5% in the fiscal first half.The management has proven disciplined on cost and cash flow. Its fiscal year 2026 net profit after tax of AU$268 million to AU$270 million is broadly in line with consensus at AU$268 million. No material impact is expected in the year from higher freight or product costs.The investment firm upgraded Metcash to a buy from hold and increased the price target to AU$3.50 per share from AU$3.45 per share.

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Asia

Update: Metcash Expects Year-Over-Year Increase in Fiscal Year 2026 Revenue; Shares Up 8%

(Updates to add stock movement in the headline and last paragraph)Metcash (ASX:MTS) expects fiscal year 2026 revenue of AU$19.6 billion, up 0.7% from the previous year, according to a Monday filing with the Australian bourse.The company also expects fiscal year underlying profit after tax in the range of AU$268 million to AU$270 million.Metcash said ongoing cost initiatives are expected to yield at least around AU$25 million of annualized savings in fiscal year 2027.Additionally, the company has increased inventory levels as a precaution, even though it has not yet experienced any supply shortages due to the Middle East conflict.The company's shares rose around 8% in recent Monday trade.

ASX:MTS
Asia

Metcash Expects Year-Over-Year Increase in Fiscal Year 2026 Revenue

Metcash (ASX:MTS) expects fiscal year 2026 revenue of AU$19.6 billion, up 0.7% from the previous year, according to a Monday filing with the Australian bourse.The company also expects fiscal year underlying profit after tax in the range of AU$268 million to AU$270 million.Metcash said ongoing cost initiatives are expected to yield at least around AU$25 million of annualized savings in fiscal year 2027.Additionally, the company has increased inventory levels as a precaution, even though it has not yet experienced any supply shortages due to the Middle East conflict.

ASX:MTS

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