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Reece Limited ( (AU:REH) ) just unveiled an announcement.
Reece Limited has announced its FY25 trading update, highlighting a challenging trading environment due to ongoing housing market softness in Australia, New Zealand, and the US. The company expects its Group EBIT for FY25 to be between A$548m and A$558m, reflecting macro-economic headwinds and subdued underlying volumes. In the US, high exposure to the residential new construction sector and increased competition have impacted profitability, while interest rate cuts in Australia and New Zealand have yet to boost housing activity. Despite these challenges, Reece remains confident in its long-term strategy.
The most recent analyst rating on (AU:REH) stock is a Sell with a A$19.00 price target. To see the full list of analyst forecasts on Reece Limited stock, see the AU:REH Stock Forecast page.
More about Reece Limited
Reece Group is a leading distributor of plumbing, waterworks, and HVAC-R products, serving commercial and residential customers through over 900 branches in Australia, New Zealand, and the United States. Established in 1920 and listed on the Australian Securities Exchange, the company employs approximately 9,000 people.
YTD Price Performance: -23.14%
Average Trading Volume: 829,924
Technical Sentiment Signal: Sell
Current Market Cap: A$11.07B
See more insights into REH stock on TipRanks’ Stock Analysis page.