ALS Ltd

ALQ: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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ALS Earnings: Life Sciences Growth Continues Against Choppy Conditions for Commodities

Mark Taylor

Nov 19, 2024

Narrow-moat materials testing specialist ALS reported a 9% decline in underlying first-half fiscal 2025 net profit after tax to AUD 144 million, around 5% below our AUD 150 million forecast. We read no long-term implication from the miss due to higher-than-expected depreciation, up 21% to AUD 68 million. ALS had previously said that underlying NPAT was expected to be down by around 5% against the previous corresponding period.

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ALS Ltd

ALS Earnings: Life Sciences Growth Continues Against Choppy Conditions for Commodities

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