No-moat WorleyParsons Meets 1H Expectations on Higher Revenue. No Change to AUD 9.00 FVE.
We make no change to our AUD 9.00 per share fair value estimate for no-moat WorleyParsons or to our fiscal 2019 and 2020 EPS forecasts. We have, however, altered the growth and margin assumptions underlying our estimates following the company’s first-half fiscal 2019 results. Underlying NPAT increased by 26% to AUD 98.4 million, in line with our expectations. But segment margins were generally lower than we’d anticipated, offset by higher than expected revenue growth.Group first-half revenue gr...
WorleyParsons is a services provider to the resources, energy and industrial sectors. Co. has four business lines of Services, Major Projects, Improve and Advisian and three customer sectors, each of which is focused on customers involved in the following activities: Hydrocarbons, which includes the extraction and processing of oil and gas; Minerals, Metals and Chemicals, which includes the extraction and processing of mineral resources and the manufacture of chemicals; Infrastructure, which includes projects related to water, the environment, transport, ports and site remediation and decommissioning, and all forms of power generation, transmission and distribution.
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.
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