Reliance Worldwide's Brass Closure Makes Sense -- Market Talk

Dow Jones

Jun 23

0624 GMT - Reliance Worldwide's decision to close its Australian brass operations makes sense to Morgans analyst Alexander Lu. He tells clients in a note that the ASX-listed plumbing supplies manufacturer has become less reliant on Australia-sourced brass over recent years. He observes that North American production has increased, Asia sourcing has risen, and that some products just require less brass. Lu makes no changes to his fiscal 2026 underlying earnings forecasts, but raises his fiscal 2027 Ebitda forecast by 1% on the assumption that Reliance can realize a third of the US$9 million in annual savings it expects from the closure. Morgans keeps a hold rating on the stock and lifts its target price 11% to 3.60 Australian dollars. Shares are down 3.0% at A$3.56. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 23, 2026 02:24 ET (06:24 GMT)

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He tells clients in a note that the ASX-listed plumbing supplies manufacturer has become less reliant on Australia-sourced brass over recent years. He observes that <a href=\"https://laohu8.com/S/FNCSF\">North American</a> production has increased, Asia sourcing has risen, and that some products just require less brass. Lu makes no changes to his fiscal 2026 underlying earnings forecasts, but raises his fiscal 2027 Ebitda forecast by 1% on the assumption that Reliance can realize a third of the US$9 million in annual savings it expects from the closure. Morgans keeps a hold rating on the stock and lifts its target price 11% to 3.60 Australian dollars. Shares are down 3.0% at A$3.56. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 23, 2026 02:24 ET (06:24 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reliance Worldwide's Brass Closure Makes Sense -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReliance Worldwide's Brass Closure Makes Sense -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-23 14:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0624 GMT - <a href=\"https://laohu8.com/S/RLLWF\">Reliance Worldwide</a>'s decision to close its Australian brass operations makes sense to Morgans analyst Alexander Lu. He tells clients in a note that the ASX-listed plumbing supplies manufacturer has become less reliant on Australia-sourced brass over recent years. He observes that <a href=\"https://laohu8.com/S/FNCSF\">North American</a> production has increased, Asia sourcing has risen, and that some products just require less brass. Lu makes no changes to his fiscal 2026 underlying earnings forecasts, but raises his fiscal 2027 Ebitda forecast by 1% on the assumption that Reliance can realize a third of the US$9 million in annual savings it expects from the closure. Morgans keeps a hold rating on the stock and lifts its target price 11% to 3.60 Australian dollars. Shares are down 3.0% at A$3.56. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 23, 2026 02:24 ET (06:24 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7012","symbol_name":"建筑产品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2645888702","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2645888702","pubTimestamp":1782195840,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0624 GMT - Reliance Worldwide's decision to close its Australian brass operations makes sense to Morgans analyst Alexander Lu. He tells clients in a note that the ASX-listed plumbing supplies manufacturer has become less reliant on Australia-sourced brass over recent years. He observes that North American production has increased, Asia sourcing has risen, and that some products just require less brass. Lu makes no changes to his fiscal 2026 underlying earnings forecasts, but raises his fiscal 2027 Ebitda forecast by 1% on the assumption that Reliance can realize a third of the US$9 million in annual savings it expects from the closure. Morgans keeps a hold rating on the stock and lifts its target price 11% to 3.60 Australian dollars. Shares are down 3.0% at A$3.56. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7012":"建筑产品","RWC.AU":"RELIANCE WORLDWIDE CORP LTD"},"translate_title":"Reliance Worldwide的黄铜关闭是有道理的——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RWC.AU":0.9},"content_text":"0624 GMT - Reliance Worldwide's decision to close its Australian brass operations makes sense to Morgans analyst Alexander Lu. He tells clients in a note that the ASX-listed plumbing supplies manufacturer has become less reliant on Australia-sourced brass over recent years. He observes that North American production has increased, Asia sourcing has risen, and that some products just require less brass. Lu makes no changes to his fiscal 2026 underlying earnings forecasts, but raises his fiscal 2027 Ebitda forecast by 1% on the assumption that Reliance can realize a third of the US$9 million in annual savings it expects from the closure. Morgans keeps a hold rating on the stock and lifts its target price 11% to 3.60 Australian dollars. Shares are down 3.0% at A$3.56. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 23, 2026 02:24 ET (06:24 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}