Megaport Ltd

MP1: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$72.50	Yfrx	Bnftnzzdl

Megaport Earnings: Word That Higher Profitability Will Come Sooner Catapults Stock

Matthew Dolgin

Apr 28, 2023

After recent turmoil, a cratering of the stock price, and a CEO transition, Megaport’s fiscal third-quarter earnings release offered significant comfort that the company is on the right track. Founder, chairman, and interim CEO Bevan Slattery led the call, as new CEO Michael Reid will not begin until May 15. We had not been nearly as down on Megaport as the market was, but Slattery’s comments—and most notably his explicit guidance that EBITDA will come in significantly higher than market consensus in 2023 and 2024—exceeds even our bullish expectations.

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