WiseTech Bull Unsure on Quality of Earnings Beat

Dow Jones
Yesterday

0024 GMT - WiseTech's bull at Citi isn't sure how the infrastructure-software provider's annual earnings compare with market expectations given the presence of significant restructuring costs. The Australian company reported FY 2026 underlying Ebitda of $644.5 million, with all restructuring costs removed. Citi analyst Siraj Ahmed tells clients in a note that this is a headline beat relative to consensus of about $600 million, but that it isn't clear whether all analysts had completely removed these costs from their forecasts. Ahmed wants more information on the second-half acceleration in WiseTech's CargoWise product implied by the company's FY 2027 guidance. Citi has a last-published buy rating on the stock and a target price of 55.05 Australian dollars. Shares are up 0.4% at A$42.485.

 

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