{"id":111307,"date":"2025-08-26T13:11:14","date_gmt":"2025-08-26T13:11:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/111307\/"},"modified":"2025-08-26T13:11:14","modified_gmt":"2025-08-26T13:11:14","slug":"channel-infrastructure-gains-not-enough-to-keep-nzx-50-above-ledger-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/111307\/","title":{"rendered":"Channel Infrastructure gains not enough to keep NZX 50 above ledger – Market close"},"content":{"rendered":"

So far, Goodson said earnings season has been \u201ca little bit sub-par\u201d.<\/p>\n

\u201cIf anything, the shadow expectation was slightly weaker than what we\u2019ve seen, just given how tough the economy was in that June quarter.\u201d<\/p>\n

Interim<\/p>\n

AdvertisementAdvertise with NZME.<\/a><\/p>\n

NZME reported an after-tax loss<\/a> of $400,000 for the first half of its financial year, with its board declaring an interim dividend of 3 cents per share (cps).<\/p>\n

The media company, which owns BusinessDesk andThe NZ Herald, gained 3.6% to $1.15 after it posted operating revenues of $165.7m for the six months to June 30, down 3% from the same period in 2024.<\/p>\n

Goodson said the result came in \u201clargely as expected\u201d and that it was unsurprising that revenues were weak.<\/p>\n

\u201cIt was a result that several investors would have been a bit nervous about, but [NZME] has managed to come through as expected and possibly set themselves up for a slightly better year ahead.\u201d<\/p>\n

Restaurant Brands shares lost 0.34% to end the day at $2.90 after it too posted interim earnings<\/a>. While group sales grew 2.3% to $703.2m, net profit after tax (npat) dipped 5.6% to $11.9m compared with the prior comparable period.<\/p>\n

The company said the decrease reflected \u201cthe slower-than-anticipated improvement in macroeconomic conditions across key regions\u201d.<\/p>\n

\u201cIt\u2019s clear that they have a very unhelpful combination of cost pressures and not too many signs of a revenue upswing just yet,\u201d Goodson said.<\/p>\n

Channel Infrastructure NZ recorded first-half earnings before interest, taxes, depreciation and amortisation (ebitda) of $48.5m, an interim dividend of 6.5cps, and held full-year dividend guidance.<\/p>\n

In a quick note after the result, Craigs Investment Partners senior research analyst Mohandeep Singh highlighted that gearing was on the lower end of the company\u2019s target range.<\/p>\n

He said this \u201cprovides plenty of capacity for debt-funded growth and mergers and acquisitions\u201d.<\/p>\n

The stock finished the day up 1.82% at $2.24. After slow-and-steady declines to lows of about 40 cents in March 2021, Channel Infrastructure is now up more than 240% over the last five years.<\/p>\n

Annual<\/p>\n

Genesis Energy shares fell 3.32% to $2.33 after the company announced forward guidance for earnings short of market expectations<\/a>. <\/p>\n

Genesis published guidance for ebitda of between $430m and $460m for the year to June 2026, with the top end below the $470.4m ebitda reported for the latest financial year. <\/p>\n

In a client note giving first impressions, Jarden described the forward outlook for operating earnings as a \u201cbig disappointment\u201d.<\/p>\n

Alongside its annual result, Vulcan Steel announced it had signed a conditional sale and purchase agreement to buy Roofing Industries for $88m. It also launched a fully underwritten equity raise of approximately $96.3m to fund the deal.<\/p>\n

Vulcan\u2019s stock is in a trading halt on the Australian Securities Exchange (ASX) and NZX until Aug 28 to allow completion of the institutional offer of the equity raise.<\/p>\n

On account of the late surge in volumes, Meridian sank 3.54% to $5.45 ahead of its full-year result on Wednesday.<\/p>\n

Ebos Group, Precinct Properties and Winton Land are also set to report full-year earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"So far, Goodson said earnings season has been \u201ca little bit sub-par\u201d. \u201cIf anything, the shadow expectation was…\n","protected":false},"author":2,"featured_media":111308,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[66094,72876,72878,14519,2889,28,2090,9075,72881,8084,21678,71456,72880,7264,15551,72877,3747,112,71330,1474,71455,72879,19447,6817,826,568],"class_list":["post-111307","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-66094","tag-above","tag-actionpacked","tag-another","tag-brands","tag-business","tag-channel","tag-close","tag-disappointing","tag-earnings","tag-enough","tag-gains","tag-impressing","tag-infrastructure","tag-keep","tag-ledger","tag-market","tag-markets","tag-mixed","tag-not","tag-nzx","tag-produced","tag-restaurant","tag-results","tag-to","tag-with"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/111307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=111307"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/111307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/111308"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=111307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=111307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=111307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}