Boral's patchy track record owes to high fixed costs and volatile demand, warranting caution.
No-moat Boral guided to year-on-year group EBIT growth in fiscal 2017 but provided a mixed September quarter update. Wet weather and even weaker than expected Western Australia operations affected Boral Australia, with fiscal 2017 EBIT (excluding property) guided to be slightly higher than fiscal 2016, but the first half expected to be weaker, given a skew to the second half this fiscal year. Looking across the rest of the group, the USG Boral plasterboard joint venture beat management expectati...Boral manufactures and supplies building and construction materials in Australia, the U.S. and Asia. Co.'s segments are: Construction Materials & Cement, consisting of quarries, concrete, asphalt, transport, landfill, property, cement and concrete placing; Building Products, consisting of Australian bricks, roofing and masonry, and timber products; Boral Gypsum Joint Venture, which manufactures and sells plasterboard and associated products; and Boral USA, consisting of bricks, cultured stone, roof tiles, fly ash, concrete and quarries. The primary end use markets for Co.'s products include residential and non-residential construction and the engineering and infrastructure markets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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