Here’s why Navigator Global (ASX:NGI) has upped its earnings guidance

April 04, 2022 05:21 PM PDT | By Ashish

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Here’s why Navigator Global (ASX:NGI) has upped its earnings guidance — Image source: © Kiosea39 | Megapixl.com

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Highlights

Navigator Global Investments has upgraded its earnings guidance for the FY2022.

The firm’s net profit is forecast to be between US$33 million and US$35 million.

Navigator is over US$50billion asset management company exclusively focused on institutional quality alternative investment strategies.

Navigator Global Investments Ltd (ASX:NGI) has upgraded its earnings guidance for the financial year 2022 following a strong investment performance across its material portfolios in the first two months. Navigator is an over US$50billion asset management company, exclusively focused on institutional quality alternative investment strategies. The group has presence in Brisbane, New York, Chicago, London, and Hong Kong.

Navigator’s adjusted earnings before interest, tax, depreciation and ammortisation (EBITDA) was revised upwards in the range of US$43 million to US$45 million, from the previous forecast range of US$40 million to US$42 million.

Navigator’s net profit is forecast to be between US$33 million and US$35 million.

“The earnings upgrade is primarily driven by strong performance from the NGI Strategic Portfolio following the company’s investment in that portfolio in February 2021,” the company said in its latest update.

According to the ASX filing, the managers within the NGI Strategic Portfolio have advised that they have generated strong investment performance across their material portfolios in the first two months of the calendar year 2022.

Navigator’s share price snapshot

Navigator’s stock has fallen over 10% on a year-to-date (YTD) basis. However, in the past one year, the stock has risen over 2.5%. The stock was trading flat on Tuesday.

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