ASX:TEA

Tasmea Completes Acquisition of JPS Group

Tasmea (ASX:TEA) completed its acquisition of JPS Holdings and related entities JPS Management & Execution and Safe Isolation Australia, according to a Thursday filing with the Australian bourse.The JPS Group is an integrated services provider to the Australian energy sector and brings a specialist workforce of about 150 full-time employees, including engineers, operators, and project specialists.The deal establishes Tasmea as an embedded energy-services specialist and adds a tier-1, blue-chip client base with more than 10 long-term master services agreements, per the filing.Tasmea said the 11 months of forecast JPS earnings contribution in fiscal 2027 is incorporated in the company's underlying earnings before interest, taxes, and amortization guidance of AU$202 million to AU$208 million for the year.Tasmea shares fell past 2% in recent Thursday trade.

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Thursday.Silex Systems (ASX:SLX): -7%, AU$4.74Weebit Nano (ASX:WBT): -4%, AU$4.29Benz Mining (ASX:BNZ): -4%, AU$3.88EQ Resources (ASX:EQR): -4%, AU$0.32Deep Yellow (ASX:DYL): -4%, AU$1.36Tasmea (ASX:TEA): -3%, AU$8.60Beach Energy (ASX:BPT): -3%, AU$0.86Megaport (ASX:MP1): -3%, AU$18.90Block (ASX:XYZ): -3%, AU$117.23IperionX (ASX:IPX): -3%, AU$3.32

Tasmea Completes Acquisition of Maxim Group; Shares Up 3%

Tasmea (ASX:TEA) has completed the acquisition of Maxim Group Australia and its subsidiaries, according to a Thursday filing with the Australian bourse.Maxim employs around 600 people and has delivered more than 450 projects across data centers, major government infrastructure, battery energy storage systems, and renewable energy, per the filing.The company said Maxim is set to contribute to fiscal year 2027 earnings and is expected to account for more than half of the company's fiscal year 2027 underlying earnings before interest, taxes, and amortization guidance of AU$202 million to AU$208 million, the filing added.The company's shares rose 3% in recent Thursday trade.

Tasmea Forecasts Fiscal Year 2027 Earnings Growth Above 70%; Reaffirms Fiscal Year 2026 Guidance

Tasmea (ASX:TEA) has issued fiscal year 2027 guidance forecasting underlying earnings before interest, taxes, and amortization of AU$202 million to AU$208 million and underlying net profit after tax before amortization of AU$128 million to AU$132 million, implying more than 70% year-on-year earnings growth versus fiscal year 2026, according to a Thursday filing with the Australian bourse.The outlook is supported by a dual growth strategy of organic expansion and acquisitions, a record order book, over 120 master services agreements, and strong demand across infrastructure, mining, energy, data centers, and related sectors, per the filing.The outlook is driven by assumptions that include a full-year contribution from the Maxim Group acquisition and 11 months from the JPS Group, as well as 10% to 15% organic growth from core operations and synergies across its national specialist services portfolio, the filing added.Additionally, the company reaffirmed its fiscal year 2026 standalone guidance, first disclosed on June 24, for underlying earnings before interest and taxes and underlying net profit after tax of AU$117 million and AU$72.5 million, respectively.

Australian Shares Inch Up; Tasmea to Acquire Energy Services Provider for Up to AU$75 Million

Australian shares edged higher on Wednesday, even as concern over artificial intelligence-related spending and a potential hawkish direction from the US Federal Reserve sent stocks downwards on Wall Street.The S&P/ASX 200 Index rose 0.24%, or 21.40 points, to close at 8,808.40.Overnight, the S&P 500 fell 1.4%, and the Nasdaq Composite decreased 2.2%. Gold declined for a second day as spot gold fell over 1% to under $4,070 per ounce.Brent crude oil futures fell to around $76 per barrel as more oil tankers moved through the Strait of Hormuz and talks continue between the US and Iran.On the domestic front, Australia's consumer price index rose 4% on year in May, down from the 4.2% rate posted in April, data from the Australian Bureau of Statistics showed. On a monthly basis, the CPI fell 0.1% in seasonally adjusted terms. Trimmed mean annual inflation was 3.6% in the 12 months to May, up from 3.4% in the 12 months to April.Australia's total engineering construction work done rose 7.1% to AU$38.87 billion in the March quarter, seasonally adjusted, up from AU$36.29 billion in the previous quarter, the Australian Bureau of Statistics reported.In company news, Tasmea (ASX:TEA) struck a deal to acquire JPS Group, an integrated services provider to the energy sector, for up to AU$75 million. The deal is anticipated to close on or around Aug. 1. It also affirmed its fiscal 2026 underlying net profit after tax guidance of AU$72.5 million on a standalone basis. The firm's shares reached their all-time peak earlier in the day.Baby Bunting Group (ASX:BBN) now expects fiscal second-half pro forma net profit after tax of between AU$11 million and AU$12 million following softer-than-expected trading conditions through the fourth quarter, below its previously guided range of AU$12.5 million to AU$14.5 million. Its shares fell 10% on close.Lastly, Atlas Arteria (ASX:ALX) said its independent directors are reviewing their response following the extension of IFM Investors' takeover offer after the bidder increased its voting power above 50%.

Update: Tasmea to Acquire Energy Services Provider for Up to AU$75 Million, Confirms Fiscal 2026 Outlook; Shares Reach All-Time Peak

(Update to add stock movement in the headline and the seventh paragraph)Tasmea (ASX:TEA) struck a deal to acquire JPS Group, an integrated services provider to the energy sector, for up to AU$75 million, according to a Wednesday filing with the Australian bourse.The consideration includes an upfront payment of about AU$50 million at completion, consisting of about AU$24.5 million in cash and AU$25.6 million worth of Tasmea shares issued at AU$8.50 each.The aggregate price also includes a cash earn-out of up to AU$25 million from fiscal 2027 through fiscal 2030, or up to about AU$6.3 million per year, subject to certain milestones including JPS achieving a maintainable earnings before interest and taxes target of at least AU$12 million per year.The acquisition is expected to be immediately accretive to earnings per share, with about 5% forecast pro forma EPS accretion in fiscal 2026 assuming full 12-month ownership of JPS, Tasmea said.The deal, anticipated to close on or around Aug. 1, diversifies Tasmea's earnings into the liquefied natural gas and critical energy infrastructure sectors.Additionally, Tasmea affirmed its fiscal 2026 underlying net profit after tax guidance of AU$72.5 million on a standalone basis.Its shares rose over 5% in recent trading on Wednesday, reaching their all-time peak.

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Wednesday.Wisetech Global (ASX:WTC): +13%, AU$32.51BCI Minerals (ASX:BCI): +11%, AU$0.42Anteris Technologies (ASX:AVR): +10%, AU$14.99Xero (ASX:XRO): +8%, AU$70.31Telix Pharmaceuticals (ASX:TLX): +7%, AU$15.54Neuren Pharmaceuticals (ASX:NEU): +5%, AU$12.99Tasmea (ASX:TEA): +5%, AU$9.45Lindian Resources (ASX:LIN): +5%, AU$0.92Regis Healthcare (ASX:REG): +4%, AU$6.53Iluka Resources (ASX:ILU): +4%, AU$7.54

ASX Preview: Australian Shares Set to Rise as Gold Falls on Fed Rate Hike Bets; Tasmea to Acquire Energy Services Provider for Up to AU$75 Million

Australian shares are poised to rise on Wednesday, as investors weigh a stronger US dollar and rising Federal Reserve rate-hike expectations that weighed on gold and other precious metals in overnight trade.Sentiment is also supported by softer oil prices, reflecting easing geopolitical tensions in the Middle East and signs of progress in US-Iran talks over access to the Strait of Hormuz.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.4%, 2.2%, and 0.1%, respectively.In the macroeconomy, Australia's consumer price index and engineering construction activity reports are due at 11:30 am Sydney time.In corporate news, Tasmea (ASX:TEA) struck a deal to acquire JPS Group, an integrated services provider to the energy sector, for up to AU$75 million.Atlas Arteria (ASX:ALX) said its independent directors are reviewing their response following the extension of IFM Investors' takeover offer after the bidder increased its voting power above 50%.Australia's benchmark index fell 0.3% or 29.1 points to close at 8,787 on Tuesday.

Tasmea to Acquire Energy Services Provider for Up to AU$75 Million; Confirms Fiscal 2026 Outlook

Tasmea (ASX:TEA) struck a deal to acquire JPS Group, an integrated services provider to the energy sector, for up to AU$75 million, according to a Wednesday filing with the Australian bourse.The consideration includes an upfront payment of about AU$50 million at completion, consisting of about AU$24.5 million in cash and AU$25.6 million worth of Tasmea shares issued at AU$8.50 each.The aggregate price also includes a cash earn-out of up to AU$25 million from fiscal 2027 through fiscal 2030, or up to about AU$6.3 million per year, subject to certain milestones including JPS achieving a maintainable earnings before interest and taxes target of at least AU$12 million per year.The acquisition is expected to be immediately accretive to earnings per share, with about 5% forecast pro forma EPS accretion in fiscal 2026 assuming full 12-month ownership of JPS, Tasmea said.The deal, anticipated to close on or around Aug. 1, diversifies Tasmea's earnings into the liquefied natural gas and critical energy infrastructure sectors.Additionally, Tasmea affirmed its fiscal 2026 underlying net profit after tax guidance of AU$72.5 million on a standalone basis.

Australian Shares Retreat; Treasury Wine Estates Projects Fiscal 2026 EBITS Outlook

Australian shares retreated on Thursday as renewed hostilities between the US and Iran began anew and peace talks showed ​little progress.The S&P/ASX 200 Index fell 1.13%, or 99.60 points, to close at 8,686.10.Brent crude oil futures fell to trade at around $96 per barrel after Lebanon and Israel agreed to a potential conditional ceasefire.Iron ore fell over 1% to $102.25 per tonne in Singapore after exports from Guinea's Simandou iron ore project rose in May.The main stock indices on Wall ​Street fell overnight, with the S&P 500 dropping 0.7% and the Nasdaq falling 0.9%, while the Dow Jones fell 1.2%.On the domestic front, Australia's goods balance recorded a seasonally adjusted surplus of AU$1.79 billion in April, up from a deficit of AU$1.02 billion in March, according to data published by the Australian Bureau of Statistics.Australia's economy faces mounting pressure from a softening labor market, stubborn inflation, and global energy uncertainty, weighing on growth and reshaping the property outlook, according to Bendigo Bank's Chief Economist, David Robertson.In company news, Treasury Wine Estates (ASX:TWE) expected fiscal year 2026 earnings before interest, tax, material items, and self-generating and regenerating assets (EBITS) to reach AU$480 million to AU$490 million. The firm projects fiscal year 2027 performance at least in line with the year prior, citing continued progress in normalizing customer inventory levels across China and the US.IperionX (ASX:IPX) said its definitive feasibility study for its Titan critical minerals project in the US returned an after-tax net present value of $813 million at an 8% discount rate, an after-tax internal rate of return of 39%, and an after-tax payback period of 3.6 years.Tasmea (ASX:TEA) declared a fully franked special dividend of AU$0.10 per share, representing a capital return of about AU$26.2 million. The dividend is payable June 25 to shareholders on record as of June 10. It also reconfirmed its fiscal year 2026 earnings guidance. Its shares earlier hit an all-time peak.

Tasmea Reconfirms Fiscal 2026 Earnings Guidance; Shares Hit All-Time High

Tasmea (ASX:TEA) reconfirmed its fiscal 2026 earnings guidance, forecasting AU$117 million in earnings before interest and taxes and AU$72.5 million in net profit after tax, according to a Thursday Australian bourse filing.The company anticipates continued profit growth in fiscal 2027, per the filing.Tasmea's shares fell past 2% in recent trading on Thursday and earlier hit an all-time high.

Tasmea Declares Fully Franked Special Dividend; Shares Hit All-Time High

Tasmea (ASX:TEA) declared a fully franked special dividend of AU$0.10 per share, representing a capital return of about AU$26.2 million, according to a Thursday filing with the Australian bourse.The board approved the inclusion of the dividend in the company's dividend reinvestment plan at AU$6.85 per share, the filing said.The dividend is payable June 25 to shareholders on record as of June 10, per the filing.Shares fell nearly 2% in morning trade Thursday but earlier hit an all-time high.

Australian Shares Flat; SRG Global Discloses AU$1.85 Billion of Contracts, Upgrades Fiscal 2026 EBITDA Outlook

Australian shares were again flat, with a negative bias, on Tuesday amid investor anxiety over the course of ceasefire negotiations between the US and Iran.The S&P/ASX 200 Index was little changed to close at 8,724.40.Media reports said that Iran had halted indirect negotiations with ​the US. US President Donald Trump said talks were moving forward at a rapid pace.Brent crude oil futures were trading above $94 per barrel.On the domestic front, Australia's Fair Work Commission approved a 4.75% wage increase.The country's seasonally adjusted company gross operating profits decreased 1.3% in the March quarter compared with the December 2025 quarter and rose 3.2% compared with the prior corresponding period, according to a report by the Australian Bureau of Statistics (ABS).Seasonally adjusted data revealed that the total number of dwellings approved in Australia fell 3.4% to 16,710 in April from 17,307 in the previous month, figures from the ABS showed.Australian consumer confidence rose 2.7 points in the week of May 25 to 31 to 68.8 points, its highest level since early March, according to ANZ Research. Despite the rise, confidence remains 17.5 points below the 2025 average.In company news, SRG Global (ASX:SRG) upgraded its fiscal 2026 guidance after securing AU$1.85 billion of contracts with blue-chip clients in a range of sectors. The company raised its fiscal 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast to the top end of its previously issued AU$164 million to AU$168 million range, while initiating fiscal 2027 EBITDA guidance of between AU$190 million and AU$200 million.Tasmea (ASX:TEA) struck a deal to acquire specialist electrical contractor Maxim Group Australia for up to AU$254 million. The company said Maxim has an identified pipeline in excess of AU$1.3 billion, which provides full revenue visibility for fiscal 2027 and about 85% revenue visibility for fiscal 2028.Nine Entertainment Co. Holdings (ASX:NEC) completed the sale of its regional television assets, NBN and Nine Darwin, for a total cash consideration of AU$20.5 million, converting them from wholly-owned businesses to affiliates to be owned and operated by WIN Network.

Tasmea to Acquire Maxim Group Australia for Up to AU$254 Million; Shares Hit All-Time High

Tasmea (ASX:TEA) struck a deal to acquire specialist electrical contractor Maxim Group Australia for up to AU$254 million, according to a Tuesday filing with the Australian bourse.The consideration includes about AU$112 million of upfront cash, AU$72 million in Tasmea scrip with 12 million new shares issued to vendors at AU$6 each, and cash earn-out payments of up to AU$70 million based on profitability milestones, per the filing.Tasmea expects the deal to be immediately accretive to earnings per share, estimating about 31% pro forma EPS accretion in fiscal 2026 excluding synergies and assuming 12-month ownership of Maxim.The company said Maxim has an identified pipeline in excess of AU$1.3 billion, which provided full revenue visibility for fiscal 2027 and about 85% revenue visibility for fiscal 2028.Tasmea reconfirmed its fiscal 2026 guidance for underlying net profit after tax of AU$72.5 million. The company said Maxim will contribute to fiscal 2027 earnings after the deal's expected closing around July 1.Shares of Tasmea jumped 17% in recent Tuesday trade and earlier hit an all-time high.

Canaccord Genuity Starts Tasmea at Buy with AU$6.29 Price Target