Peter Warren Automotive Holdings Ltd (ASX: PWR) shares climbed around 5% today after the dealership group announced a major move to acquire Wakeling Automotive for $28 million.

Wakeling Automotive is a large multi-franchised dealer network operating across Macarthur, Wollongong, Shellharbour, and Moss Vale in NSW. It represents 16 popular car brands, including Hyundai, Kia, Mitsubishi, Nissan, Honda, Suzuki, Volkswagen, Mercedes-Benz, and Isuzu Ute.

The acquisition materially increases Peter Warren’s presence in one of Australia’s fastest-growing automotive regions.

The purchase price of approximately $28 million is funded through existing debt facilities and includes a significant goodwill component ($21.7 million of goodwill) as well as net assets at completion.

Why investors like this deal

This acquisition adds scale for Peter Warren, and management expects the deal to be immediately EPS accretive, even after funding costs. Wakeling Automotive generates roughly $500 million in annual turnover and employs around 370 staff. Peter Warren itself had revenue of $2,483 million in FY25.

It also complements Peter Warren’s existing Western Sydney operations. With the senior Wakeling team joining Peter Warren to continue running day-to-day operations, it reduces execution risk and preserves the culture of the 40-year-old family business.

Peter Warren CEO Andrew Doyle highlighted that the acquisition strengthens Peter Warren’s growing network and aligns with the group’s long-term consolidation strategy across the eastern seaboard. For investors, it reinforces the narrative that Peter Warren is emerging as a serious consolidator in the dealership landscape.

ASX All Ords share bottom line

Peter Warren is gaining scale in a key region, and while the transaction is still subject to ACCC and OEM approvals, today’s share price move suggests the market sees it as a smart, earnings-enhancing step forward.

Peter Warren shares are up 21% year to date and have a dividend yield of approximately 3%.

The post Here’s why a major NSW acquisition just sent Peter Warren shares higher appeared first on The Motley Fool Australia.

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Rio Tinto Ltd (ASX: RIO), Fortescue Ltd (ASX: FMG), and BHP Group Ltd (ASX: BHP) shares could face some fresh headwinds in 2026.

That’s according to a rather bearish iron ore price forecast from the analysts at Westpac Banking Corp (ASX: WBC).

Although Rio Tinto and BHP shares are deriving a growing amount of revenue from copper, iron ore remains the top revenue earner for all three S&P/ASX 200 Index (ASX: XJO) mining giants.

The iron ore price has been surprisingly resilient in 2025.

After briefly dropping below US$94 per tonne in early July, the industrial metal is currently trading at just over US$105 per tonne.

But that resilience may not last next year.

2026 iron ore price plunge could hamper BHP shares

Investors in BHP shares and rival ASX 200 mining stocks like Fortescue and Rio Tinto likely know to keep a close eye on what’s happening in China, the world’s top iron ore importer and steel maker.

And Westpac has cautioned that a large forecast increase in global iron ore supplies in 2026, coupled with material reductions in Chinese steel production, could trigger a 20% fall in the iron ore price (courtesy of The Australian Financial Review).

Citing similar market conditions to mid-2024, which led to a 21% fall in the iron ore price, Westpac senior economist Justin Smirk said:

This does give us more confidence in our expectations of a correction in iron ore prices as we move into 2026. We are forecasting a 20% fall in iron ore to US$83 a tonne by end of 2026.

What are other top analysts forecasting?

In potentially better news for investors in Rio Tinto, Fortescue, and BHP shares, Commonwealth Bank of Australia (ASX: CBA) isn’t quite as bearish in its 2026 forecast for the industrial metal.

But CBA does believe that increased supply from the massive Simandou iron ore project in Guinea and sluggish demand from China will see the price of iron ore fall below US$100 per tonne in 2026.

Barrenjoey recently reasserted its own forecast of US$100 per tonne in 2026, with a retrace to US$98 per tonne in 2027.

How have Fortescue, Rio Tinto, and BHP shares been tracking?

Amid the resurgent iron ore price since early June, the big three ASX 200 mining stocks have had a strong six-month run.

Over the past six months, the ASX 200 has gained 1.2%.

Here’s how these miners have fared over this same period:

• BHP shares are up 24%
• Fortescue shares are up 51.4%
• Rio Tinto shares are up 38.4%

The post Buying Rio Tinto, Fortescue and BHP shares? Here’s Westpac’s sobering 2026 iron ore price forecast appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If you have space in your portfolio for some new additions, then it could pay to listen to what Ord Minnett is saying about two ASX 200 shares.

Here’s why it thinks they are in the buy zone right now:

AGL Energy Limited (ASX: AGL)

Ord Minnett thinks this energy giant is being undervalued by the market and has put a buy rating and $13.00 price target on its shares. This implies potential upside of almost 40% for investors from current levels.

The broker notes that there is a lot to like about AGL at the moment, which it feels is being overlooked by investors. It said:

The company has demonstrated solid momentum over recent times with the Tilt renewable asset sale, flexible capacity development at Bayswater, progress in its Western Australia operations and a series of power purchase agreements (PPAs), and we see further drivers to come from revaluation of its 20% stake in energy management platform Kaluza, a closure of Energy Australia’s Yallourn power station that will push Victorian wholesale prices, and thus AGL earnings, higher, and repricing of Tomago supply contracts. ‍

Post the investor day, we have raised our FY26 EPS estimates by 6.1% to incorporate wider electricity margins partially offset by higher growth capital expenditure, while our forecasts for FY27 and FY28 are trimmed 0.5% and 0.2%, respectively. Our target price on AGL has been upgraded to $13.00 from $12.00, and we reiterate our Buy recommendation.

Nextdc Ltd (ASX: NXT)

Another ASX 200 share that Ord Minnett is recommending to clients this month is data centre operator NextDC. It currently has a buy rating and $20.50 price target on its shares, which offers significant upside of over 65% for investors over the next 12 months.

The broker has been pleased with recent contract wins and feels that it demonstrates that demand for data centre capacity remains strong. It said:

Ord Minnett notes NextDC had only guided to 50–100MW of contract wins for FY26, so the latest announcement, along with industry feedback highlighting strong demand from both western and eastern hyperscalers, bodes well for the full-year outcome.

We have raised our target price on NextDC to $20.50 from $19.00 to incorporate our assumed value of the agreement with Open AI, although we have not yet changed our earnings estimates due to the lack of detail and operational timelines. We reiterate our Buy recommendation.

The post Ord Minnett names 2 ASX 200 shares to buy for massive returns appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Electro Optic Systems Holdings Ltd (ASX: EOS) shares have jumped around 7% to $7.78 (as of the time of writing) after the defence technology company announced it had secured a significant new international contract worth approximately $32 million.

In an ASX release, EOS announced a new order for its R400 Remote Weapon System (RWS) from a North American prime contractor supplying Light Armoured Vehicles (LAVs) to an end-user in South America.

The customer, while undisclosed, is described as a large, investment-grade defence manufacturer, which likely signals reliability and lower counterparty risk.

The order covers not only the supply of weapon stations but also vehicle integration kits, storage services, and a range of related components. Manufacturing will take place at EOS’ facility in Canberra throughout 2026 and 2027, providing the company with multi-year production visibility.

Why the market reacted so strongly

This latest win comes at a time of heightened momentum for EOS. The company has been steadily accumulating new contracts across its product portfolio, from counter-drone systems to high-energy laser weapons and traditional RWS platforms.

EOS now boasts an unconditional contract backlog exceeding $400 million, up sharply from $136 million at the end of 2024.

In other words: the order book has tripled in under a year.

For investors, today’s news reinforces the view that demand for EOS technology is accelerating across multiple regions, particularly in North America, Europe, and the Indo-Pacific. As global defence budgets rise, companies with specialised, combat-proven systems (especially counter-drone and remote-weapon technologies) are seeing increased procurement activity.

The contract also fits neatly into EOS’ turnaround narrative. After a volatile few years marked by balance sheet stress and program delays, the company is now consistently securing large, export-focused deals. Multi-year revenue conversion across 2026–27 provides clearer financial visibility and reduces execution risk.

Foolish bottom line

While defence stocks can be sensitive to contract timing, today’s rally suggests confidence is returning. With a growing backlog, an expanding global footprint, and sustained demand for advanced weapon systems, EOS appears to be rebuilding credibility, and investors have taken notice.

EOS shares are up a phenomenal 494% so far in 2025, eclipsing fellow market darling Droneshield Ltd (ASX: DRO), whose share price is up 252% year to date.

The post EOS shares take off on $32m US weapons deal appeared first on The Motley Fool Australia.

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Motley Fool contributor Kevin Gandiya has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and Electro Optic Systems. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Tesla (NASDAQ: TSLA) has been a fantastic stock for long-term investors, with returns exceeding 3,100% over the past decade. However, the company currently faces significant headwinds, as sales of its electric vehicles (EVs) are slowing, costs are rising, and it places big bets on unproven markets including robotics and autonomous vehicles (AVs).

It’s no surprise, then, that many investors are trying to determine what to do with Tesla stock. Is it a good time to buy with its shares priced under $500, or is it too early to take a risk on the company transitioning toward future technologies when its EV business is slumping?

Here are three reasons why I believe it’s best not to buy Tesla stock right now. 

1. Expenses are rising fast

Tesla CEO Elon Musk is transitioning his company toward an autonomous vehicle and robotics company. The idea is for Tesla to mass-produce its Optimus robots — up to 1 million by 2030 — and for the company to vastly expand its fledgling robotaxi service that’s currently only in a handful of cities. It’s worth noting Musk said in July the service would cover half the country by the end of the year, which is now, and it’s nowhere near achieving this.

There’s nothing wrong with Tesla focusing on these two opportunities, considering that AVs could eventually be worth $1.4 trillion by 2040, and humanoid robotics will be worth an estimated $5 trillion by 2050.

But to achieve its goals, Tesla is spending heavily, and it’s likely to increase from here. The company’s operating expenses rose by 50% to $3.4 billion in the third quarter, and research and development (R&D) costs jumped 57% to $1.6 billion. Management specifically said the operating cost increase was “driven by SG&A [selling, general, and administrative], AI and other R&D projects.”

For Tesla to expand into nascent robotics and AV markets, additional billions of dollars will need to be spent at a time when the company’s core business — selling electric vehicles — isn’t doing so hot.

2. Tesla’s core business is suffering

It’s easy to get caught up in Tesla’s big plans to be an autonomous vehicle and robotics company, but Tesla is still primarily an electric vehicle company right now. Unfortunately, business is not so good.

Tesla’s net income fell 37% to $1.4 billion in the third quarter, leaving the company with significantly less money to reinvest in the business.

Things could be getting worse, too. Following the expiration of the federal EV tax credits, Tesla’s vehicle sales fell below 40,000 in November — its lowest monthly sales in years. Tesla’s third-quarter results temporarily received a boost as customers rushed to take advantage before credits expired at the end of September, which helped lift Tesla’s revenue 12% to $28 billion in the quarter.

However, the November vehicle sales numbers indicate that Tesla and other EV manufacturers have a significant problem on their hands. EVs often cost more than traditional gas-powered vehicles, and after years of inflation and high interest rates, and no more tax credits, there’s less demand for EVs than in the recent past.

This would be a significant problem on its own for Tesla, but it’s compounded by the fact that the company is spending so much to move into robotics and AVs.

3. Its stock is expensive

Even if Tesla somehow pulls off its transition to AVs and robotics and turns around its stumbling EV business, it doesn’t eliminate the fact that investors are paying a high premium for a company as it makes risky moves.

Tesla’s shares currently have a price-to-earnings ratio of 206, far above the tech sector’s average P/E ratio of about 45.

This means Tesla’s stock is already priced for perfection at a time of significant transition, falling profit, and increasing expenses. That’s too risky for my liking, even if Tesla eventually achieves its goals. I think investors are better off not buying Tesla stock right now, at least waiting until the company can prove that it can reinvigorate sales and earnings from its electric vehicle business.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Should you buy Tesla while it’s below $500? appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Chris Neiger has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

4DMedical Ltd (ASX: 4DX) shares are lifting off today.

Again.

Shares in the respiratory imaging technology company closed yesterday trading for $2.89. In morning trade on Friday, shares are changing hands for $3.48 apiece, up 20.4%.

For some context, the All Ordinaries Index (ASX: XAO) is up 0.5% at this same time.

Today’s big gains will mark a new record closing high for the company (if maintained to close). And they see 4DMedical shares up an eye-watering 656.5% over 12 months.

This now sees the company commanding a market cap north of $1.7 billion, which could see it re-rated to list on the S&P/ASX 300 Index (ASX: XKO) next year.

Here’s what’s piquing ASX investor interest today.

4DMedical shares rip higher on new US deal

4DMedical shares are off to the races after the company announced that it has entered into a commercial arrangement for the clinical use of CT:VQ with United States-based Cleveland Clinic.

CT:VQ is the company’s CAT scan-based ventilation-perfusion software.

4DMedical noted that the Cleveland Clinic is consistently ranked among the top hospitals in the US. The agreement provides an introductory pricing period of one month to support clinical workflow integration, followed by full commercial terms.

Cleveland Clinic’s commercial launch of CT:VQ follows 4DMedical’s recent agreements with Stanford University and the University of Miami.

Investors look to be taking note, with the company saying it is establishing a growing network of premier academic medical centres deploying CT:VQ for advanced respiratory diagnostics.

What did management say?

Commenting on the deal that’s sending 4DMedical shares surging today, founder and CEO Andreas Fouras said, “Securing Cleveland Clinic as a CT:VQ customer is a major milestone for 4DMedical”.

He said the new agreement “validates both our technology and our commercialisation strategy”. Fouras added that, “Cleveland Clinic is one of the most respected healthcare institutions in the world.”

According to Fouras:

In just over three months since FDA clearance, we’ve established CT:VQ at three of America’s leading academic medical centres: Stanford, University of Miami, and Cleveland Clinic. This rapid adoption by elite institutions demonstrates the compelling clinical and operational advantages of CT:VQ over traditional nuclear VQ imaging.

Our AMC-focused strategy is working exactly as planned. These prestigious institutions serve as powerful reference sites that, combined with the Philips partnership, provide the platform to accelerate adoption across national health systems and community hospitals.

And helping to build excitement for the outlook for 4DMedical shares, Fouras concluded, “The momentum is extraordinary, and we’re just getting started.”

The post Up 657% in a year, 4DMedcial shares rocketing another 20% today on big US news appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The All Ordinaries Index (ASX: XAO) is up 0.5% today, with this ASX All Ords share once more outpacing those gains.

The fast-rising stock in question is diversified services provider Symal Group Ltd (ASX:SYL).

Symal is a relative newcomer to the ASX, having listed in November 2024. And the ASX All Ords share has been on a tear ever since.

Symal shares closed yesterday trading for $3.26. In early morning trade on Friday, shares are changing hands for $3.37 apiece, up 3.4%.

With today’s intraday boost factored in, the Symal share price is now up a whopping 98.2% in 2025.

Here’s what’s grabbing ASX investor interest today.

ASX All Ords share gains on South Australian expansion

Investors are piling into Symal shares today after the company announced it has entered into a conditional agreement to acquire 80% of the shares in Davison Earthmovers.

The ASX All Ords share will pay $23.2 million for its majority stake in the South Australian civil construction business. The acquisition includes more than $11 million in plant and equipment assets.

Symal said that the business also brings a skilled workforce and strong management team. Paul Davison, founder and managing director, will retain a 20% stake and continue to lead the business.

The ASX All Ords shares also highlighted that South Australia is a region with a $27.3 billion infrastructure pipeline over the next four years. With the acquisition of Davison, Symal said it is well-placed to accelerate its participation in major projects. This includes road and rail infrastructure, defence, building and facilities, and renewable energy initiatives.

Turning to the numbers, Symal expects the acquisition to deliver annualised underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of around $7 million and be earnings per share (EPS) accretive from the first year of ownership.

Symal expects the deal to be completed in Q3 FY 2026, subject to satisfaction of closing conditions.

What did management say?

Commenting on the deal that’s boosting the ASX All Ords share today, Symal managing director Joe Bartolo said, “This acquisition marks a pivotal step in Symal’s journey to build enduring capability and presence in South Australia.”

Bartolo added:

Davison Earthmovers brings a legacy of excellence, a skilled team, and trusted relationships that resonate with our own values and culture. By integrating their expertise and resources, we’re not just expanding our footprint – we’re strengthening our ability to deliver complex infrastructure solutions with agility and reliability.

South Australia is entering a transformative phase, with major investments reshaping its infrastructure landscape. The addition of the Davison team positions Symal to play a leading role in this growth by leveraging local insights and executing on our proven self-performing model.

Symal said it will provide updated FY 2026 guidance upon completion of the acquisition.

The post Up 98% in 2025, guess which ASX All Ords share is lifting off again today appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Austal Ltd (ASX: ASB) has won its second contract in as many days, with the shipbuilder saying on Friday it will build another two vessels for the Australian Border Force.

The win follows Austal’s announcement on Thursday, which stated that it had been awarded a $1.029 billion design and construct contract to build 18 Landing Craft Medium (LCM) vessels for the Australian Army under the Commonwealth’s Strategic Shipbuilding Agreement.

Contract extension

Under the new deal announced on Friday, Austal will build another two Evolved Cape-class Patrol Boats.

The company went on to say:

This latest award, valued at over $135 million, brings the total number of Evolved Cape-class Patrol Boats contracted to Austal to 14 vessels, reinforcing the long-standing partnership between Austal, the Australian Border Force and the Royal Australian Navy in delivering critical maritime capability for Australia’s national security.

Austal Chief Executive Officer Paddy Gregg said the new vessels were strengthening the Border Force’s readiness and operational reach.

He went on to say:

Over the past five years the Evolved Cape-Class Patrol boats have proven themselves as highly capable, reliable assets for Australia’s border protection missions. With nine Evolved Capes already delivered and performing exceptionally with the Royal Australian Navy, and two more already under construction for the Australian Border Force, this new order further enhances Australia’s maritime surveillance and response capability across Northern Australia and our vast maritime domain.

The Evolved Cape-class design features expanded accommodation for up to 32 personnel, Austal said, enhanced “quality of life” systems, and advanced sustainment technologies “to maximise operational availability”.

Construction of the newly ordered boats will take place at Austal’s Henderson shipyard in Western Australia.

WA shipyard in favour

The LCM order announced on Thursday will also be built at Henderson, with the first of those to be built in 2026 and the final landing craft to be delivered in 2032.

Each of those vessels would be capable of transporting loads of up to 80 tonnes.

Mr Gregg said this contract was the first awarded to the company under the Federal Government’s Strategic Shipbuilding Agreement.

He went on to say:

This Landing Craft Medium design and build contract awarded to Austal Defence Australia is the first vessel construction in the Government’s commitment to delivering continuous naval shipbuilding at Henderson, Western Australia, enlivening decades of opportunity for individuals and businesses to engage, collaborate and invest in defence programs.

Austal shares were trading 5.4% higher at $6.57 in early trade on Friday. Austal was valued at $2.5 billion at the close of trade on Thursday.

The post Austal wins second major contract in as many days, sending its shares sharply higher appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It is a good day to own ANZ Group Holdings Ltd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) shares.

Shareholders of these big four banks should be smiling today for a couple of reasons. But why? Let’s find out.

Why is it a good day to own ANZ and Westpac shares?

The first reason that today is a good day for the banks’ shareholders is that they are both pushing higher on Friday morning.

At the time of writing, the ANZ share price is up 0.65% to $36.27 and the Westpac share price is up over 1% to $38.72.

Investors have been bidding the big four banks’ shares higher today after a strong night of trade on Wall Street.

This has seen the benchmark S&P/ASX 200 Index (ASX: XJO) rise 0.5% in early trade this morning.

What else?

Another reason that today is a good day for shareholders is that it is payday for them both.

Last month, both banks released their full year results and declared their latest final dividends.

ANZ reported a statutory profit of $5,891 million, which was down 10% from the prior year, and a flat cash profit (excluding significant items) of $6,896 million.

This was reflective of both the strength of ANZ’s franchise and the importance of executing its long-term strategy according to management. It highlighted that its institutional and New Zealand divisions performed well, while Australian retail and business banking remained competitive.

This allowed ANZ to reward its shareholders with a 70% franked final dividend of 83 cents per share for FY 2025. This brought its full year dividend to 166 cents per share, which was in line with what it paid a year ago.

Eligible shareholders can look forward to receiving this final dividend of 83 cents per share later today.

The Westpac dividend

Last month, Westpac released its full year results for FY 2025. Australia’s oldest bank reported a 3% increase in net interest income to $19.473 billion for the 12 months ended 30 September. This was underpinned by a 6% increase in loans and a 7% lift in customer deposits.

And while higher operating expenses weighed on its profits for the year, with Westpac reporting 1% decline in net profit after tax to $6.989 billion, it didn’t stop its board from increasing its dividend modestly to a fully franked $1.53 per share.

This includes a fully franked final dividend of 77 cents per share, which is being paid to eligible Westpac shareholders today.

The post Why today is a great day to own ANZ and Westpac shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

NIB Holdings Limited (ASX: NHF) shares are edging higher on Friday.

In morning trade, the private health insurer’s shares are up almost 1% to $6.96.

What’s going on with NIB shares today?

Investors have been buying the company’s shares today after it released an update on its profit expectations.

According to the release, it expects to report non-recurring one-off items that will impact its statutory operating profit (SOP) but not its underlying operating profit (UOP).

The company advised that non-recurring cash expenses in first half are expected to be around $17 million, which is higher than previously indicated at its FY 2025 results briefing in August.

Its one-off and non-recurring expenses, including M&A and integration costs, were $21.5 million for the half. These expenses partly relate to a net cash expense (before tax) of approximately ~$8 million relating to historical adjustments for the Private Health Insurance Australian Government Rebate (AGR) and NSW Hospital Insurance Levy (HIL).

With respect to the AGR, NIB highlights that the Department of Health, Disability and Ageing has recently clarified that the AGR could not be claimed on some historical marketing offers and COVID customer givebacks. In response, NIB has amended its approach moving forward.

For HIL, as a result of recent legal determinations, NIB has confirmed that a different basis of calculation can be utilised for the HIL. This includes refunding some historically charged levies and providing some offset to the AGR impact. This approach has also been amended going forward.

Outside this, the company’s non-recurring cash expenses include restructuring costs associated with the group-wide productivity program, as well as strategic initiatives such as the strategic review of NIB Travel, with an outcome expected in FY 2026.

What else?

NIB also revealed that a non-cash expense (before tax) of around $4.5 million is expected to be incurred in the first half. This is for the reduction in the value of redundant acquired software relating to acquisitions in NIB Thrive.

Management advised that this will be recognised in the amortisation of acquired intangibles.

Since 2022, the company has acquired six NDIS plan management businesses, a support coordination business, and an NDIS marketplace platform.

Over the last 12 months, it has consolidated the majority of these businesses onto a single technology platform to enhance automation, operating efficiency, and ongoing business model simplification.

Underlying profit on target

While we are not quite at the end of the half, management highlights that it is currently performing to expectations for group UOP during the first half. Though, it acknowledges that this is subject to the second quarter risk equalisation outcome.

The post NIB shares edge higher on profit update appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended NIB Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.