Ansell Ltd

ANN: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$14.40	Wwjcc	Kxvvvrqxr

Ansell Earnings: Poised to Return to Growth as Productivity Program Progresses Well

Shane Ponraj

Feb 20, 2024

Narrow-moat Ansell’s first-half fiscal 2024 underlying earnings per share fell 13% to USD 0.41 but were close to our expectations. Our fiscal 2024 underlying EPS forecast of USD 1.00 is within management’s narrowed guidance range of USD 0.94-USD 1.10. The firm did lower its guidance for statutory EPS by 7% at the midpoint to USD 0.57-USD 0.77, largely due to roughly USD 10 million in additional one-off costs associated with its productivity program.

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