Perenti (ASX:PRN) upgrades FY23 revenue guidance; shares up 8%

November 14, 2022 12:03 PM AEDT | By Sonal Goyal

Upgraded FY23 guidance

In August 2023, the company shared that it expects revenue in the range of AU$2.4 billion to AU$2.5 billion and EBIT(A) in the range of AU$185 million to AU$205 million. The anticipated net capital expenditure was around AU$330 million, and the expected leverage was circa 1.2x.

After undertaking quarterly forecasting activities, Perenti said that it expects revenue to be in the range of AU$2.6 billion to AU$2.7 billion. The expected range of EBIT(A) is AU$215 million to AU$230 million, and net capital expenditure of AU$340 million.

The company informed that the upgraded guidance is based on factors like favourable movements in the exchange rate of the US dollar to the Australian dollar and improved commercial and operational conditions.

Management Commentary

Mark Norwell, the CEO and managing director of Perenti, commented on the development,

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