Overview of Big River Industries Ltd's 3QFY24 trading update

Big River Industries Ltd (Big River, ASX: $BRI) has reported challenging market conditions in the third quarter of the financial year. The slowdown in residential housing starts and extended delays to customer projects have primarily impacted the Building Trade Centers, particularly the Frame & Truss business. The year to date unaudited revenue for the nine months ended 31 March 2024 was $308m, with EBITDA for the period at $25m. Despite the current challenges, the outlook for Big River remains positive, supported by a solid pipeline of commercial projects and expected uplift in housing starts due to population growth and housing shortage.

Executive commentary on market conditions and outlook

The challenging market conditions in the third quarter of FY24 have continued to impact our business, particularly the Frame & Truss business within the Building Trade Centers. However, we remain positive about the future outlook, as we anticipate an increase in demand driven by a pipeline of commercial projects and an expected uplift in housing starts. We have taken proactive measures to reduce operating costs and accelerate synergies across the business, positioning ourselves to take advantage of the expected improved market conditions in the medium term.

Summary of Big River Industries Ltd's 3QFY24 trading update and outlook

Big River Industries Ltd (ASX: $BRI) has faced challenging market conditions in the third quarter of FY24, primarily due to the slowdown in residential housing starts and extended delays to customer projects impacting the Frame & Truss business within the Building Trade Centers. Despite this, the company reported year to date unaudited revenue of $308m and EBITDA of $25m. The outlook remains positive, supported by a solid pipeline of commercial projects and an expected uplift in housing starts driven by population growth and housing shortage. Big River has undertaken initiatives to reduce operating costs and accelerate synergies across the business, positioning itself to capitalize on the expected improved market conditions in the medium term.