Bpost falls to record low on lower-than-expected guidance
** Shares in Bpost BPOST.BR fall as much as 11% to all-time low after the Belgian postal company announced full-year earnings outlook below expectations and cut its CAPEX guidance
** The group sees 2024 adjusted earnings before interest and taxes (EBIT) at 165-185 million euros ($178-199 million), below company-compiled consensus of 215.7 million euros
** "The structural adverse impact of the stopping of the press concession is somewhat bigger than we had anticipated and trading conditions in North America remain challenging," Degroof Petercam says, cutting its PT by 20% to 3.40 euros
** Bpost also cut FY gross CAPEX to around 150 million euros from 180 million previously
** If losses hold, shares will see theirworst day in nearly five months
** By 0737 the stock is down around 7%, having hit a record intraday low of 2.78 euros
($1 = 0.9299 euros)
Reporting by Olivier Cherfan
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