Downer EDI Limited (DOW)
All research reports and stock updates for Downer EDI Limited.
Stock Updates
Research Reports
A big pothole
Extensive wet weather this year has undone Downer’s earnings guidance. To the extent that this is beyond the company’s control, it is forgivable if not frustrating.
Squelched
As with many parts of Australia’s economy, COVID-19 and wet weather have been significant impediments to normal operating cadence.
Hoping for a dry run
Downer EDI has taken a ‘prepare for the worst, hope for the best’ approach to its guidance for FY23.
Shovels ready
The recent Investor Day held by Downer EDI emphasised the extensive opportunities ahead as government spending on infrastructure and defence remains heightened.
Infrastructure build beneficiary
Digging behind the headline numbers reveals Downer’s interim result was a brave effort considering the obstacles encountered. Omicron-related staff absenteeism was a major impediment and leaves DOW cautious about its full year performance. On the other hand, underlying divisional earnings performance and cashflow was commendably ahead of last year, allowing the Board to increase the dividend.