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EVT Sees Marginal Growth in Fiscal 2026 Hotels EBITDA, Warns of Emerging Demand Weakness

EVT (ASX:EVT) expects a marginal year-on-year increase in fiscal 2026 normalized earnings before interest, taxes, depreciation, and amortization (EBITDA) from its hotels segment, according to a Friday Australian bourse filing.The company noted that the Easter trading period showed emerging weakness in demand, particularly impacting "drive" destinations, including the Snowy Mountains region of New South Wales.Meanwhile, the Middle East crisis has had a limited impact to date, the company said. Cancellations from international inbound guests were largely offset by displaced international guests and domestic demand driven by events.However, signs of softening are emerging in forward demand from international inbound guests, corporate travel, and conference and events, with shorter booking lead times emerging, the company added.In entertainment, the company anticipates "reasonable" growth in fiscal 2026 from the prior year, assisted by the strong year-to-date result from CineStar in Germany.However, the result has been impacted by the closure of the Bondi cinema for refurbishment and water damage at the Manukau site in Auckland.Finally, Thredbo fiscal 2026 normalized EBITDA is expected to range from AU$22 million to AU$23 million, subject to fuel cost impacts on drive tourism and winter weather conditions in June, per the filing.

ASX:EVT

Orezone Gold Posts Higher Q1 Gold Production

Orezone Gold (ASX:ORE) reported consolidated gold production of 38,789 ounces for the three months ended March 31, up on last year's 28,688 ounces, according to a Friday filing with the Australian bourse.Gold sales were 37,962 ounces at an average realized gold price of $4,887 per ounce during the quarter, compared with 28,943 ounces at an average realized gold price of $2,851 per ounce in the same period last year, the filing said.

ASX:ORE

NEXTDC Prices AU$750 Million Subordinated Notes

NEXTDC (ASX:NXT) has successfully priced and allocated AU$750 million of 4-year floating rate subordinated notes in the Australian wholesale debt market, with the margin set at three-month bank bill swap rate plus 350 basis points, according to a Friday filing with the Australian bourse.The issuance is part of the company's broader capital plan, alongside its entitlement offer and AU$1.7 billion hybrid securities deal, supporting record contracted utilization and its AU$2.2 billion expansion strategy, per the filing.Settlement and issuance are scheduled for April 30, subject to standard conditions, the filing added.

ASX:NXT

Suncorp Group Enters AU$2.4 Billion Reinsurance Deal

Suncorp Group (ASX:SUN) has struck a reinsurance cover deal providing it AU$800 million of protection annually and up to AU$2.4 billion in total protection over the agreement's five-year term, according to a Friday filing with the Australian bourse.The agreement is effective June 30 and includes protection previously provided by Suncorp's existing dropdown arrangements below AU$350 million, per the filing.The fiscal 2027 attachment point for the aggregate cover is AU$1.85 billion. The company said it expects the aggregate cover to effectively cap natural hazard costs at the attachment point in about 90% of scenarios in any year.The deal is also expected to reduce volatility in net claims costs, resulting in a one-off capital release of about AU$100 million "through a modestly lower capital target," the company said.Additionally, Suncorp expects its fiscal 2026 underlying insurance trading ratio to come in toward the upper end of its 10% to 12% guidance range. The company also said it now expects fiscal 2026 gross written premium growth of about 3%.It previously guided for gross written premium growth "around the bottom of the mid-single digit range," according to an earlier filing.

ASX:SUN

International55d ago

Japan Core Inflation Quickens to 1.8% in March

Nikkei 225

Kaiser Reef Appoints Tony Muir as CFO

Kaiser Reef (ASX:KAU) appointed Tony Muir as chief financial officer, effective July 20, according to a Friday filing with the Australian bourse.Muir, who succeeds Andy Tran, has more than 20 years of experience in the mining sector, including five years at Gold Road Resources, per the filing.

ASX:KAU

Fortescue Posts Higher Fiscal Q3 Total Iron Shipments, Maintains Fiscal 2026 Guidance

Fortescue (ASX:FMG) reported total iron ore shipments of 48.4 million wet metric tonnes (wmt) during the third quarter ended March 31, according to a Friday Australian bourse filing.The company recorded iron ore shipments of 46.1 million wmt for the quarter ended March 31, 2025, per the filing.Total ore mined during the quarter increased to 59.5 million wmt from 55.5 million wmt in the quarter ended March 31, 2025, while ore processed rose slightly to 47.8 million wmt from 47.6 million wmt in the same period, the filing said.The company maintained its fiscal year 2026 guidance of 195 million to 205 million tonnes of iron ore shipments, energy capital expenditure of about $300 million, and net operating capital expenditure of roughly $400 million.

ASX:FMG

Research Alert: CFRA Keeps Sell Opinion On Shares Of Knight-swift Transportation Holdings Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month price target by $13 to $47, using a forward P/E of 15.6x our 2027 EPS estimate, a premium to the five-year historical average, as an EPS and market recovery more than offset weak margins and macroeconomic uncertainty. We raise our 2026 EPS estimate by $0.10 to $1.76 and our 2027 estimate by $0.57 to $3.02. KNX has demonstrated operational progress through seven straight quarters of improving tractor utilization, meaningful cost structure improvements, and advantages from its scale and diversified brand platform. However, the stock's valuation appears stretched, at 46% above its five-year average forward P/E multiple. This premium seems difficult to justify given Q1's weak performance: earnings declined Y/Y, margins remained weak, and revenue grew just 1%. While we anticipate strong EPS growth in 2026-2027, this largely represents a rebound from depressed levels rather than expansion into new territory, and we do not foresee earnings returning to the peak 2021-2022 levels in the near term.

$KNX

Fortescue to Invest $680 Million to Develop Western Australia Green Energy Project

Fortescue's (ASX:FMG) board approved an investment of $680 million to develop new green energy infrastructure in the Pilbara region in Western Australia as part of a broader $6.2 billion decarbonization program, according to a Friday Australian bourse filing.The company will develop the 200-megawatt (MW) Pilbara Green Energy Project, to be completed by 2028, with a pathway to multi-gigawatt expansion beyond 2030, the filing said.By 2028, Fortescue's previously announced green grid will comprise 1.2 gigawatts of solar energy, 600 MW of wind energy, 4 gigawatt-hours to 5 gigawatt-hours of battery storage, and 620 kilometers of transmission lines, per the filing.

ASX:FMG

St Barbara Approves Final Investment Decision for Canada Operation Restart

St Barbara (ASX:SBM) approved the final investment decision to proceed with the Touquoy operation restart after receiving approval of amendments to the Industrial Approval permit conditions received from the Nova Scotia Department of Environment and Climate Change, according to a Friday Australian bourse filing.The firm's units signed two major contracts with Alva Construction and MacGregor's Industrial to provide support services for the reopening and processing period of the Touquoy operation.It anticipates that Touquoy will be in a position to restart ore processing by the end of the year.

ASX:SBM

West African Resources Production to Increase in Coming Quarters, Says Euroz Hartleys

West African Resources' (ASX:WAF) production is expected to increase in the coming quarters helped by improvements in underground grades at Sanbrado and Kiaka, Euroz Hartleys said in a note on Thursday.The company reported first-quarter group production of 107,700 ounces and operating cash flow of AU$440 million, leading to a record cash and bullion balance of AU$1.06 billion.It also maintained its 2026 production guidance at 430,000 ounces to 490,000 ounces, in-line with Euroz Hartleys' forecast of 470,500 ounces.The investment firm believes the miner is "materially undervalued" in light of its production profile and cash generation, especially after the Burkina Faso government's move to acquire a 25% stake in its Kiaka mine for AU$175 million, removing a key source of uncertainty.Prevailing gold prices and the company's strong cash flow are expected to support early debt repayment and ongoing capital returns, with the recent special dividend of AU$0.15 seen as first of many.Euroz Hartleys reiterated a speculative buy rating on West African Resources and raised its price target to AU$5.55 from AU$5.50.

ASX:WAF

Vulcan Energy Resources Says Construction Underway at German Lithium Chemical Plant

Vulcan Energy Resources (ASX:VUL) said construction has started at its lithium chemical plant in Frankfurt, according to a Friday filing with the Australian bourse.The plant will convert lithium chloride into lithium hydroxide monohydrate (LHM) using electrolysis. The first phase of production will target capacity of 24,000 tonnes of LHM, which is sufficient for around 500,000 electric vehicle batteries per year, the company said.

ASX:VUL

Research Alert: CFRA Upholds Buy Rating On Shares Of Caci International Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target by $75 to $650, 20.5x our FY 27 (Jun.) EPS estimate, above CACI's three-year historical forward P/E average (18.6x) and peers (12.1x). We trim our FY 26 EPS view by $0.50 to $28.18 reflecting transactions costs associated with the ARKA acquisition and keep FY 27's at $31.77. CACI raised its FY 26 revenue and EBITDA margin guidance, increasing revenue to $9.5B-$9.6B from $9.3B-$9.5B and EBITDA margin to 11.8%-11.9%. The company maintained free cash flow guidance of at least $725M. The ARKA acquisition adds $2B of noncompetitive franchise programs and expands CACI's space-based sensor capabilities, combining with existing land, air, and sea-based sensors to cover all domains. With 98% of its FY 26 revenue secured from existing programs, CACI demonstrates strong revenue visibility and is well-positioned to achieve its long-term financial targets. However, immediate-term caution is warranted due to a sluggish government award environment, as reflected in the quarter's 0.9x book-to-bill ratio.

$CACI

FleetPartners Accelerates Dividend Franking Timeline

FleetPartners Group (ASX:FPR) updated its dividend outlook after completing its fiscal 2025 tax return, now expecting future dividends, including any first-half interim payout, to be fully franked ahead of its earlier September timeline, according to a Friday Australian bourse filing.The company also confirmed it will release its fiscal first-half financial results to the Australian Securities Exchange on May 7, the filing added.

ASX:FPR

PLS Group Starts Commissioning of Mid-Stream Demonstration Plant, Reports Higher March Quarter Production

PLS Group (ASX:PLS) started commissioning of its Mid-Stream Demonstration Plant in Western Australia, with the first product expected in the September quarter, according to a Friday filing with the Australian bourse.The move follows the company securing up to AU$38.1 million in funding from the Australian Renewable Energy Agency to support the plant's operation, and entering an offtake agreement with Ningbo Ronbay New Energy Technology for lithium phosphate produced at the plant.PLS Group also acquired Calix's (ASX:CXL) stake in the plant to gain full ownership and operational control of the facility, per the filing. Calix remains a technology partner in the project, which aims to test more efficient and lower-carbon processing pathways for hard-rock lithium.Separately, PLS Group reported March quarter production of 232,400 tonnes and revenue of AU$567 million.In the year-ago period, the company reported production of 125,000 tonnes and revenue of AU$150 million, an earlier filing showed.

ASX:CXLASX:PLS

Research Alert: Bkr: Industrial Energy Technology In A Leading Position In Q1

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BKR opened 2026 with Q1 adjusted EPS of $0.58, beating consensus of $0.51 by $0.09. IET segment drove performance with revenue up 14% Y/Y to $3.35B, while OFSE declined 7% to $3.24B. IET order flow surged 54% to $4.9B, marking the third consecutive quarter above $4B, with margins expanding 310 bps to 20.2%, demonstrating the strength of BKR's industrial energy technology business amid robust demand from Gas Technology and Climate Solutions divisions. BKR signed a three-year deal for well construction support in Argentina's Vaca Muerta unconventional oil play, which could provide sizable growth potential. The overall book-to-bill ratio of 1.2x looks healthy, led by IET at 1.5x, while remaining performance obligations stand at $36.1B, with $33B from IET. We believe the strong IET momentum and resilient OFSE margins of 17.4% (down just 40 bps despite Middle East headwinds) position BKR well for continued outperformance in the current environment.

$BKR

Perseus Mining's Solid Q3, Royalties Prompt Upgrade to Annual Production Forecast, Says Euroz Hartleys

Perseus Mining (ASX:PRU) reported strong third-quarter gold production, supported by solid performance across all three operations and lower unit costs due to higher volumes, Euroz Hartleys said in a note on Thursday, prompting an upgrade to its annual production forecast for the company.The investment firm raised its fiscal 2026 gold production estimates by 3% to 405,000 ounces, citing increased royalties in Ivory coast and Ghana.The miner posted third-quarter gold production of 107,000 ounces, broadly in line with Euroz Hartleys' expectation of 108,000 ounces, with improved margins driven by a higher gold price.The brokerage reaffirmed a buy rating and lifted its price target to AU$6.85 from AU$6.60.

ASX:PRU

Research Alert: CFRA Maintains Buy Opinion On Shares Of Nextera Energy, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $5 to $106, 25.8x our next-12-month EPS estimate, a premium to peers and NEE's five-year average forward P/E of 24.5x. We lift both our 2026 and 2027 EPS views by $0.08 to $4.13 and $4.50, respectively. Shares jumped during the earnings call as critical details were discussed that were not mentioned in the initial press release. High on that list was management expectations for "at least one large load customer to sign up for capacity under FPL's tariff by the end of the year." We see upside to EPS as NEE expects each GW of large load to equate to ~$2B in capex. At the reported ROE of 11.7%, each GW translates to $234M of earnings and $0.11 per share. Management states 12GW of large load interest is currently in advanced discussion, equating to up to $1.32 of incremental annual run-rate EPS once fully deployed. The company is targeting to begin serving a portion of this capacity as soon as 2028. We see this as supportive of our expectations for a 9.7% EPS CAGR from 2025 to 2028.

$NEE