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Austal Limited (ASB.AX)

4.9100

+0.0600

+(1.24%)

At close: 4:10:36 PM GMT+10

Shipbuilder Austal rides military spending wave, shares defy market slump

U.S. President Donald Trump's policies that have rattled stocks around the world are benefiting Australian shipbuilder Austal, analysts said on Wednesday. Shares of the company, which supplies defence and commercial vessels to the Australian and U.S. navies among other clients, surged 35% in the three months ending March, clocking their best quarterly gains in nearly two years since June 2023. The surge in Austal's shares comes amid Trump's call asking Australia and other U.S. security allies to increase defence spending.

Reuters 14 days ago

ASB.AX
+1.24%
US Navy Shipbuilder’s Stock Jumps in Sydney as Hanwha Buys Stake

(Bloomberg) -- Shares of Australian shipbuilder Austal Ltd. climbed after a unit of Hanwha Aerospace Co. became a substantial shareholder of the US Navy contractor, as South Korea’s top defense firm attempts to bolster its foothold in America.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for

Bloomberg 29 days ago

012450.KS

ASB.AX
+1.24%
^YH310
Austal Ltd (AUTLF) (H1 2025) Earnings Call Highlights: Strong Revenue Growth and Expanding ...

Austal Ltd (AUTLF) reports a 15% revenue increase and a robust $14.2 billion order book, despite challenges in U.S. operations and ongoing contract negotiations.

GuruFocus.com last month

ASB.AX
+1.24%
Austal wins contract to build hydrogen-ready RoPax ferry for Sweden’s Gotlandsbolaget

This vessel, part of the Gotlandsbolaget’s 'Horizon X' programme, will incorporate both gas and steam turbines.

Ship Technology last month

ASB.AX
+1.24%
Military shipbuilder Austal says investigation settlement in best interest of company

Executives with military shipbuilder Austal said settling an accounting fraud investigation, which included an agreement to pay a $24 million penalty, is the best outcome for the company and that new controls are in place. Austal USA, a subsidiary of Australia-based Austal Limited, pleaded guilty to one count of securities fraud and one count of obstruction of a federal audit to settle an accounting fraud case. Austal USA agreed to pay a penalty of $24 million, according to the U.S. Justice Department.

Associated Press Finance 7 months ago

ASB.AX
+1.24%
US Navy shipbuilder Austal USA agrees to pay $24 million to settle accounting fraud probe

Austal USA, an Alabama-based shipbuilder that makes vessels for the U.S. Navy, has admitted wrongdoing and agreed to pay a $24 million fine to settle an accounting fraud investigation, the U.S. Department of Justice announced Tuesday. From 2013 through July 2016, Austal USA conspired to mislead shareholders and investors about the company's financial condition, the department said. Austal USA “engaged in a years-long scheme to illegally inflate its profits on ships the company was building for the U.S. Navy, reporting false financial results to investors, lenders, and its auditors,” Nicole M. Argentieri, principal deputy assistant attorney general and head of the Justice Department’s Criminal Division, said in a statement.

Associated Press Finance 7 months ago

ASB.AX
+1.24%
Austal USA breaks ground on final assembly facility

The project aims to bolster the production of large steel modules for the US Navy and Coast Guard vessels.

World Construction Network 8 months ago

ASB.AX
+1.24%
Australian shipbuilder Austal secures $516 million contract from US navy

The contract, announced on May 19, was originally for $113.9 million for a detailed design of the Auxiliary General Ocean Surveillance Ship T-AGOS 25 Class for the United States Navy, with options to design and construct up to seven such ships. On Friday, the United States Navy exercised its option to modify the contract to construct a ship, allowing Austal to buy the materials required to continue building the surveillance vessel.

Reuters 10 months ago

ASB.AX
+1.24%

Performance Overview

Return	ASB.AX	S&P/ASX 200 [XJO] (^AXJO)
YTD	+58.39%	-4.90%
1-Year	+113.48%	+1.92%
3-Year	+161.80%	+3.13%