Caltex Talks Up its Retail Growth Aspirations While Crude and Currency Hit 2H 2019 Earnings
We retain our AUD 33.50 fair value estimate for no-moat Caltex, despite a 7.5% reduction in our 2018 EPS forecast to AUD 2.26 from AUD 2.44. At its investor day, Caltex said third-quarter retail fuel volumes and margins had been impacted by high crude prices, a weak Australian dollar, and targeted competitor actions. The company said these had crimped retail earnings by approximately AUD 20 million versus the first-half 2018 run-rate. Further, an unplanned outage at Lytton refinery in October re...Caltex Australia is engaged in the purchase, refining, distribution and marketing of petroleum products and the operation of convenience stores throughout Australia. Co. has two segments: Supply and Marketing, which is an integrated transport fuel supply chain which sources refined products on the international market and sells Caltex fuels, lubricants, specialty products and convenience store goods through a network of Caltex, Caltex Woolworths and Ampol branded service stations, as well as through company owned and non-equity resellers and direct sales to corporate customers; and Lytton, which refines crude oil into petrol, diesel, jet fuel and products such as liquid petroleum gas.
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.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.