Worley (ASX:WOR) reported a 27% increase in underlying profit for the 2024 financial year. However, the engineering services group's share price only rose by 2.5%, falling short of analysts' forecasts and leaving shares down 17% year-to-date.
Read MoreThe local earnings season rolled along Wednesday in a slightly happier environment for all concerned – here’s what Worley Group, Sonic Healthcare and APA Group had to say.
Read MoreBuy rating retained, UBS pegging Worley as an energy transition winner offering a 10-year EPS compound annual growth rate of 10%. Target price rises to $16.40 from $14.40.
Read MoreEnergy services group Worley has emerged as a major victim of COVID after a trading update Monday for the first six months of 2020-21 revealed a big slump in revenue and earnings.
Read MoreThe $4.5 billion acquisition of Jacobs ECR 16 months ago has paid off for resources engineering and services group Worley in the year to June.
Read MoreMining and construction services company Worley has boosted its reserves against the COVID-19 pandemic and the slumping oil price with a new $465 million of new debt
Read MoreFirst-half results were ahead of forecasts. Credit Suisse raises FY20 revenue estimates by 7%. Management has raised its Jacobs ECR synergy target to $175m from $150m.
Read MoreA rare event this reporting season for one lot of shareholders in the shape of a big rise in interim dividend. Worley doubled its interim dividend to an unfranked 25 cents a share.
Read MoreAhead of the first half result on February 24 the company has disclosed Pro-forma financials. These are in line with UBS estimates, with aggregated revenue of $10.5bn.
Read MoreA glance through the latest expert views and predictions about commodities. China infrastructure; iron ore miners; Indian industry; coking coal; oil; and rutile.
Read MoreThe company’s investor briefing has shown how the combined business is positioning to capture more work as Jacobs ECR is integrated. Credit Suisse remains comfortable that, pending a smooth integration, leverage to the controlled cost base and new scale will provide unique exposure to the global energy mix.
Read MoreEngineering giant Worley Parsons will double in size after buying Jacobs Engineering Group’s energy, chemicals, and resources division for a cash and debt-free enterprise value (including debt) of $US3.3 billion ($4.6 billion).
Read MoreAfter years of cutbacks and huge staff losses, WorleyParsons is opening its corporate wallet and will expand into the North Sea after buying AFW UK Oil & Gas for $303 million, but not before asking big shareholders for help.
Read MoreWorleyParsons (WOR) will not pay a dividend for another reporting period as it continues to battle the aftershocks of the great oil and gas investment boom and bust here and around the world.
Read MoreWorleyParsons (WOR) has yet to see enough improvement in activity to agree with its larger rivals, Halliburton and Schlumberger that the slide in the oil and gas business is over and 2017 will see slow rebound.
Read MoreWhat a difference a day makes.
Read MoreAfter a year or more of cost cutting, it seems it has become second nature for engineering and construction group WorleyParsons (WOR), judging by its annual meeting yesterday.
Read MoreEngineering contractor and consultant WorleyParsons (WOR) confirmed an operating loss after another round of impairment losses for the year to June 30, and held out the gloomy prospect of 12 more months at least of financial pain and strain from the tanking global oil and gas sector.
Read MoreLast Thursday’s surprise move by engineering services group WorleyParsons (WOR) to ask for a trading halt for its shares while it worked out the impact of unidentified “non-recurring charges” was explained yesterday with a whacking big earnings downgrade and a slump in the share price.
Read MoreShares in WorleyParsons (WOR) are in a trading halt at least until next Monday while the company prepares details of a major write down from “non-recurring charges” which will impact its 2015 financial results.
Read MoreWorleyParsons (WOR) shares tumbled in the wake of a gloomy outlook issued by the mining, oil and gas engineering and services specialist.
Read MoreEngineering firm WorleyParsons (WOR) expects challenging conditions in global resources markets to continue.
Read MoreJudging by the early market reaction, there was a sense of euphoria about 2013-14 results from WorleyParsons (WOR) yesterday from investors. The final dividend was lifted and management was upbeat in the post release briefing.
Read MoreWorleyParsons (WOR), which will split its company into three divisions, has lifted its restructuring costs in the past nine months to near $50 million as it seeks to cut costs to battle the continuing weakness in global resource industries.
Read MoreEngineering and mining services company, WorleyParsons (WOR) shares enjoyed a nice bounce yesterday after the company revealed its promised cost cuts and other management moves had stabilised its weakened profit situation.
Read MoreAnd still they tumble out – shock downgrades from the already downgraded mining services sector. It’s getting bloodier and yesterday WorleyParsons (WOR), one of the sector’s major players, shook confidence with a sharp and surprising earnings downgrade for the current half and full year.
Read MoreGlobal resources engineering group, WorleyParsons of Perth, surprised the market yesterday with a semi downgrade of expectations for the coming year – certainly for the first half.
Read MoreProfessional services provider, Worley Parsons (WOR) said on Friday its Canadian subsidiary has won a $350 million contract by Suncor Energy for the engineering, procurement and construction management of a Canadian oil sands project.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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