Bendigo and Adelaide Bank Limited (ASX:BEN) Addresses ASX’s Half-Year Earnings Inquiry
Financial Performance
Bendigo and Adelaide Bank Limited (BEN) reported its response to ASX’s inquiries regarding its half-year earnings for the period ended 31 December 2024. BEN highlighted a 5.8% variance between its actual Cash Earnings and the market’s expectations for H1FY25, based on sell-side analyst forecasts.
Market Expectations
BEN determined market expectations by averaging the Cash Earnings forecasts from nine of its ten sell-side analysts. The consensus estimate was $282 million for H1FY25 and $550 million for FY25. The bank noted that the variance did not exceed the 10% threshold that would necessitate a material disclosure.
Stock Performance
Following the release of the Results Announcements, BEN’s share price declined from $13.42 to a low of $10.87, closing at $11.37. The decline is attributed to concerns over margin performance and cost growth rates disclosed in the announcements.
Compliance
BEN confirmed its compliance with ASX Listing Rules, particularly Listing Rule 3.1, and affirmed that its responses were authorised and approved according to its continuous disclosure policy.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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