Q: Please comment on their latest financials and impact on the dividend going forward.
What is your view on future iron ore demand 1-2 years out.
Thank you
What is your view on future iron ore demand 1-2 years out.
Thank you
5i Research Answer:
EPS of 42c missed estimates of 66c; revenue of $46.8M beat estimates of $45.5M. EBITDA of $36.8M missed estimates of $60M. The dividend was lowered in early June, and another cut would not surprise us at all unless there is some improvement here. The sector outlook remains highly uncertain with global economic risks and tariff uncertainty. Still, some of this is priced in, and we think, as tariff news disappates and interest rates move lower globally, the sector should show some improvement over time.