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BUZZ-Morningstar cuts EBIT forecasts for next two years for Australia's Telix Pharma

Reuters08-06

BUZZ-Morningstar cuts EBIT forecasts for next two years for Australia's Telix Pharma

** Analysts at Morningstar cut EBIT forecasts for Telix Pharmaceuticals TLX.AX by an average 29% over the next two years on delayed scale benefits from RLS Radiopharmacies

** Investment research firm maintains A$19.50/shr fair value estimate

** Telix flags operating expenses to be 36% of revenue in H1 2025, compared to 28% last year

** Shares are slightly undervalued, with the market likely

underappreciating RLS's long-term value in bolstering Telix's US network - Morningstar

** Telix down 24.7% YTD, as of last close

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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Comment（1）

  • Anton 89
    ·08-06
    I emailed the author for clarification here: Dear Ms Lahiri, I hope this message finds you well. I’m writing with regard to your August 6 report on Telix Pharmaceuticals, which referenced the company’s operating expenses as 28% of revenue last year. I’ve reviewed the FY2023 audited financials, which appear to show operating expenses of approximately AUD $421 million on revenues of $457 million — an Opex-to-revenue ratio closer to 93%. Could you kindly clarify how the 28% figure was derived? Was this based on a partial-year metric (e.g., H1), adjusted operating expenses, or perhaps a specific categorisation (e.g., SG&A only)? I ask out of genuine interest, as a shareholder who closely follows Telix’s operational performance and appreciates clear context when interpreting analyst comment
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