EMECO HOLDINGS LIMITED (EHL)
Share Price Analysis and Chart

19/06/2026

3

Neutral

$1.08

12.50%

Emeco Holdings offered FY26 operating earnings (EBITDA) guidance off $290m-$295m, a small decline and outlook downgrade on FY25 result of $301m, Macquarie points out.

Wet weather, supply chain issues and uncertainty over fuel prices have all contributed to the slight downgrade in guidance over the 2H26 versus the analyst's prior forecast of $308m.

Mine production is highlighted as remaining "solid" including expanding gold production and slight growth in met coal output.

Management anticipates FY27 earnings to be stable as well as free cash flow of $100m-$110m in FY26.

Macquarie's EPS forecasts are raised by 3% for FY26 and lowered by -5% for FY27. Target price declines by -23% to $1.08 from $1.40 previously on lower valuation and earnings downgrades. Neutral rating retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.80 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 17.60 cents.

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25/06/2026

1

Buy

$1.40

45.83%

Canaccord Genuity maintains a Buy rating for Emeco Holdings with its target price decreased to $1.40 following a near-term trading update disappointing on baseline utilisation metrics.

Adverse weather events in Queensland surface operations alongside regional logistics backlogs delayed core fleet deployment windows during the half.

The analyst notes strong balance sheet positioning contained by low net leverage of 0.4x underpins significant flexibility to execute on a capital-light acquisition strategy.

Management expects normalised asset utilisation rates to climb up to 90% in surface sectors, setting up a solid structural pathway to capture improved long-term earnings upside.

The report concludes Emeco Holdings currently trades at an attractive valuation discount to its listed benchmark industry peers.