By Stuart Condie
SYDNEY–WiseTech Global shares tumbled after the logistics software provider’s earnings outlook fell short of market expectations.
The Australian company on Wednesday flagged fiscal 2024 earnings before interest, tax, depreciation and amortization of between 455 million Australian dollars and 490 million Australian dollars (US$292.2 million-US$314.7 million). The average analyst forecast had been for A$550 million, according to data compiled by FactSet.
WiseTech’s expectation that Ebitda margins won’t reach 50% until fiscal 2026 was also disappointing, Citi analysts said in a note. The market had expected an Ebitda margin of 52% in fiscal 2025 and of 54% in fiscal 2026, the analysts said.
The stock was last down 17% at A$71.55, putting it on course for its lowest closing level since May.
Write to Stuart Condie at [email protected]
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