Progressive publish new research
FY23 adjusted EBITDA guidance raised slightly ahead of expectations despite brick volumes falling over a third.
vs expectations: slightly ahead
Select text to share a quote on X · sign in to keep highlights & notes in your FORT notes
Profit guidance raised despite sharp sales fall Forterra's FY23E trading update for the 12 months to 31 December guides to adjusted EBITDA 'slightly ahead' of its expectations despite brick volumes falling by over a third during the year. We have raised our adjusted PBT and EPS estimates for FY23E and introduced forecasts for FY24E taking our cue from the cautious tone in the outlook statement, which cites uncertainties ahead of a general election. However, we suggest Forterra's large housebuilding customers could outperform this view.
Click here for full analysis
About Progressive:
| Broad coverage | Analyst calibre | |||
| across 12 sectors | ||||
| Business Services | Oil & Gas | 15 analysts | with average | 20 years |
| Financials | Property | experience of | ||
| Healthcare | Retail | |||
| Industrials | Technology | 30+ | techMARK | |
| Investment Trusts | Telecoms | industry based | Extel | |
| Mining | Utilities | awards | StarMine | |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.