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Austal Limited (ASX:ASB)

ALERT: Price-sensitive ASX Announcement for ASB
Current share price for ASB : $3.830 -2.48 (-39.30%)+
Announcement
Release
12 Feb 2026 6:57PM
Price at Release
$6.310
Full Release
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Summary
Austal Limited, listed on the ASX under the ticker ASB, has identified an overstatement of approximately US$17.1 million related to incentives from its T-ATS program recognized by its US subsidiary, Austal USA. This adjustment affects the company's EBIT guidance for the fiscal year 2026, which has been updated to approximately A$110 million. The announcement was authorized by the Board of Austal Limited, a company known for its global shipbuilding capabilities, with significant operations in multiple countries, and recently appointed as a Strategic Shipbuilder by the Australian government.
Key Points
  • Austal Limited identified an overstatement in its US subsidiary, Austal USA, related to the T-ATS program.
  • The overstatement was approximately US$17.1 million.
  • This issue affected the company's FY2026 EBIT guidance, which is now updated to approximately A$110 million.
  • The ASX announcement was approved and released by the Board of Austal Limited.
  • Austal is a global shipbuilder and defence contractor with facilities in Australia, the USA, the Philippines, and Vietnam.
  • Austal has been appointed as the Strategic Shipbuilder for the Australian Commonwealth Government.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.