10 stories mentioning ASX:ORIUpdated 16d ago
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Orica (ASX:ORI) completed the full acquisition of the Nelson Brothers' explosives joint venture business in the US, according to a Monday statement.The deal expands the firm's manufacturing footprint, downstream distribution capabilities, and access to customers. It also simplifies its business structure in North America.Its shares fell 1% in recent trading on Tuesday.
Orica (ASX:ORI) said State Street and its subsidiaries have reduced their stake in the company on May 8 to 7.56% or 35 million shares from 8.6% or 39.8 million shares, according to a Wednesday Australian bourse filing.The company's shares rose 1% in recent Wednesday trade.
Orica (ASX:ORI) is poised for favorable macro demand and supply conditions over the medium-term, Jefferies said Thursday in a note, after the company reported its half-yearly underlying earnings 3% to 5% ahead of estimates.The investment firm raised its fiscal year 2027 and fiscal year 2028 EPS forecasts by 2% and 1%, respectively, even after factoring in a AU$20 million earnings impact from turnaround plans at its KI and Yarwun plants, offset by the non-recurrence of the Carseland plant turnaround and contributions from the Nelson Bros acquisition.Jefferies said Orica's specialty chemicals and digital businesses are performing strongly and expects the segments to grow about 10% annually through fiscal year 2027 to fiscal year 2028. Non-blasting businesses are seen to improve returns and reach about a 12% return on investment capital by the end of fiscal year 2028.The firm maintained a buy rating on Orica, citing that the stock remains one of its top picks, and raised the price target to AU$25.21 from AU$24.04.
Australian shares rose on Thursday amid reports that an agreement was close on a one-page memorandum to formally end the conflict in the Middle East.The S&P/ASX 200 Index rose 0.96%, or 84.50 points, to close at 8,878.10.Iran said it was reviewing the peace proposal put forth by the US, Reuters reported.Brent crude oil futures were trading around $102 per barrel. Iron ore futures rose over $111 after several months, while gold traded for about $4,700 per ounce.On the domestic front, Australia's goods balance recorded a seasonally adjusted deficit of AU$1.84 billion in March, down from a surplus of AU$5.03 billion in February, marking the first deficit since December 2017, according to data published by the Australian Bureau of Statistics.The value of new payment platform transactions in Australia rose nearly 26% to AU$241.2 billion in March, compared with AU$186.6 billion reported in the same period last year, according to the Reserve Bank of Australia.Australian card activity showed an emerging slowdown in discretionary spending, with the Westpac-DataX Card Tracker Index rising 2.1 points over the two weeks to April 25, reversing an earlier decline.In company news, Tabcorp Holdings (ASX:TAH) said Austrac launched an enforcement investigation after raising "serious" concerns about the company's ability to manage its money laundering and terrorism financing risks.The company said the investigation will initially focus on evaluating its compliance with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. Its shares retreated 22% at market close.Light & Wonder (ASX:LNW) reported first-quarter adjusted earnings of $1.45 per share, up from $1.35 a year earlier. Revenue for the three months ended March 31 was $790 million, compared with $774 million a year earlier. Its shares closed down 8%, earlier reaching a two-year low point.Lastly, Orica (ASX:ORI) reported fiscal first-half adjusted earnings of AU$0.60 per share, compared with AU$0.533 a year earlier. Sales revenue for the six months ended March 31 was AU$3.88 billion, compared with AU$3.94 billion a year earlier. Its shares rose 5% on market close.
Orica (ASX:ORI) initiated an organization-wide cost reduction program targeting at least AU$100 million in annualized savings over the next three years while maintaining its focus on safety and growth priorities, according to a Thursday filing with the Australian bourse.The company incurred net restructuring costs of AU$10.9 million associated with the program during the fiscal first half, the filing added. It expects to realize most of the program's benefits from 2027 onwards.The company's shares rose around 7% in recent Thursday trade.
(Corrects the year-earlier sales revenue figure in the third paragraph)Orica (ASX:ORI) reported Thursday fiscal first-half adjusted earnings of AU$0.60 per share, compared with AU$0.533 a year earlier.Analysts polled by FactSet expected earnings of AU$0.58 per share, excluding extraordinary items.Sales revenue for the six months ended March 31 was AU$3.88 billion, compared with AU$3.94 billion a year earlier. Analysts surveyed by FactSet expected AU$4.06 billion.The company said it expects fiscal 2026 underlying earnings before interest and taxes to increase across all segments and all regions versus the prior period.The board declared an interim dividend of AU$0.285 per share, up from AU$0.25 a year earlier, payable July 3 to shareholders on record as of May 22.
Orica (ASX:ORI) reported Thursday fiscal first-half adjusted earnings of AU$0.60 per share, compared with AU$0.533 a year earlier.Analysts polled by FactSet expected earnings of AU$0.58 per share, excluding extraordinary items.Sales revenue for the six months ended March 31 was AU$3.88 billion, compared with AU$3.94 million a year earlier. Analysts surveyed by FactSet expected AU$4.06 billion.The company said it expects fiscal 2026 underlying earnings before interest and taxes to increase across all segments and all regions versus the prior period.The board declared an interim dividend of AU$0.285 per share, up from AU$0.25 a year earlier, payable July 3 to shareholders on record as of May 22.
Orica's (ASX:ORI) recent supply issues in North America and Western Australia are "manageable," Jefferies said in a Tuesday note.The company is expected to face difficulties sourcing replacement ammonium nitrate volumes in the near term in North America and would have to spend more to import materials from its global supply base, incurring about $30 million in costs per year from 2027.However, Jefferies raised its earnings before interest and taxes forecast by 2% across fiscal years 2026 to 2028, reflecting better Asia-Pacific forecasts after Indonesia's 20% lift to coal production targets.Additionally, Russian ammonium nitrate curtailments will benefit the company's own production in Canada and Australia.Jefferies maintained its buy rating and AU$24.04 price target on Orica.Orica shares rose nearly 2% in midday trade Wednesday.
Orica (ASX:ORI) said it has expanded into copper processing chemistry with the acquisition of the Danafloat product range from FMC, according to a Friday statement by the company.The company did not provide a deal value or financial details of the acquisition.The company said Danafloat is a specialist range of high-performance collectors used in the flotation of copper and other commodities to maximize ore recovery, enhance concentrate quality, and minimize environmental impacts.Orica said the acquisition includes proprietary formulation intellectual property, inventory, branding, and existing customer relationships, expanding its specialty mining chemicals portfolio beyond sodium cyanide for the gold industry into the processing of sulfide ores.The company said the acquisition provides exposure to copper and other commodities benefiting from growth in electrification, urbanization, and artificial intelligence.
Orica (ASX:ORI) said it is mitigating disruption from a third-party ammonia plant outage in Western Australia by drawing on existing inventory and its diversified global supply network, while securing alternative ammonia and ammonium nitrate supplies, according to a Thursday filing with the Australian bourse.The company's East Coast ammonia and ammonium nitrate facilities have resumed operations following the April 1 restart of its Kooragang Island plant in New South Wales, while the Western Australia third-party ammonia plant is expected to remain offline until mid-May, the filing added.The company's shares fell 1% in recent Thursday trade.
