Reece Ltd Q1 FY27 Trading Update
Key points
- Q1 FY27 sales revenue: A$2,510 million, up 4.3% YoY
- ANZ sales up 12.8%, US sales up 5.6%
- CEO cautious on second half FY27 due to complex macro environment
- Strong momentum in ANZ, soft conditions in US
Full summary
Reece Ltd announced its first quarter trading update for FY27, reporting sales revenue of A$2,510 million, up 4.3% year-over-year and 8.7% on a constant currency basis. ANZ sales increased 12.8%, driven by momentum in volumes and inflation. US sales grew 5.6%, with like-for-like sales up 2.4%. Chairman & CEO Peter Wilson noted strong momentum in ANZ but highlighted challenges in the US due to the residential new construction market. The company expects a strong first half in ANZ but remains cautious about the second half of FY27.
Outlook
Reece Ltd expects a strong first half for ANZ but remains cautious about the second half of FY27 due to the complex macroeconomic environment.
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