Nufarm Ltd

NUF: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$2.70	Vxqj	Hngqhgp

Nufarm Earnings: Omega-3 Seeds Growth Encourages and Revenue Targets Are Maintained

Mark Taylor

Nov 15, 2023

No-moat Nufarm shares jumped more than 10% intraday of its fiscal 2023 result. The market was seemingly buoyed by earnings resilience in the face of El Nino and confirmation the Australian agricultural innovator remains on track to meet fiscal 2026 revenue aspirations of more than AUD 4.6 billion. Fiscal 2023 revenue declined by 8% to AUD 3.5 billion and underlying net profit after tax fell 8% to AUD 122 million. However, there were positive elements, particularly from seeds and omega-3 canola, which renewed belief in the fiscal 2026 target and moved focus away from potential unfavorable weather patterns and normalization of recent historically high agricultural commodity prices.

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