MOVE Logistics Group (MOV) H2 2025 earnings summary

Executive summary

• Achieved significant improvement in normalized earnings before tax, up 61.1% year-over-year, with the strongest quarterly NEBT in two years and positive net adjusted operating cash flow.

• Transformation program (Accelerate) drove cost reductions, operational efficiency, and margin expansion.

• Retained revenue despite low demand and a highly competitive market, meeting FY25 financial targets.

• Most legacy issues resolved, with a refreshed leadership team, key GM positions filled, and a new CEO appointed in August 2024.

Financial highlights

• Normalized earnings before tax up 61.1% year-over-year; Q4 FY 2025 was the strongest in two years.

• Gross margin percentage increased by 4.1 points to 29.2%, gross margin dollars up 13.4% to $83.5m.

• Net loss after tax reduced by $32.5 million to $15.6 million year-over-year, with EPS improved to -12.21c from -37.66c.

• Operating expenses reduced by ~$27 million, including ~$15 million in labor savings.

• Operating cash flow up 35% to $25.3 million; adjusted net operating cash flow at $0.3 million.

Outlook and guidance

• Focus shifting from cost reduction to value creation and revenue growth in the final year of the Accelerate program.

• Expecting positive normalized earnings before tax in FY 2026, but not providing specific EBT guidance due to economic uncertainty.

• Positioned to benefit from market recovery with a right-sized, low-cost business and strong customer partnerships.