Volatile Resin Prices Continue to Impact Narrow-Moat Pact Group in Early Fiscal 2019; FVE Unchanged
Following three months of elevated oil price volatility, Pact Group has materially downgraded its fiscal 2019 EBITDA guidance to AUD 245 million from a prior range of AUD 270 million to AUD 285 million. Our fiscal 2019 EBIT forecast of AUD 173 million is now 8% above updated company guidance, reflecting our more optimistic outlook on resin prices and subsequently near-term margins. Furthermore, we remain confident previously announced cost-out initiatives will further support medium-term margin ...Pact Group Holdings is provider of specialty packaging and manufacturing solutions in Australasia. Co. converts plastic resin and steel into rigid packaging and other products that service customers in different sectors including: food and beverage, personal care, household consumer, industrial and chemical, and materials handling and infrastructure. Co. also provides a range of services including outsourced manufacturing, filling and packing and a range of sustainability, recycling and environmental services to assist customers in reducing the environmental impact of their product packaging and related processes.
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.
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