Healius: Revised Guidance Reflects Weak Pathology Margins but Poised for Recovery
No-moat Healius downgraded fiscal 2024 underlying EBITDA guidance by 5% at the midpoint to AUD 345 million to AUD 350 million. Improving pathology volumes over second-half fiscal 2024 have been offset by lower-than-expected average fees due to softness in general practitioner attendances and general inflationary pressures. However, Lumus Imaging and Agilex Biolabs have continued to perform well. The firm expects to better its AUD 15 million net savings target for fiscal-year 2024.