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Shares in Corporate Travel Management (CTM) rose more than 8% to $16.23 in early trading, following an announcement of expected earnings growth for the second half of the year and for fiscal year 2026, despite a weaker first-half result.
RBC Capital Markets analyst Wei-Weng Chen noted that while the results for FY25 were downgraded, FY26 targets showed potential for an upgrade.
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“CTD’s 1H25 results were generally better than expected, but the FY25 EBITDA guidance was downgraded by 2.3% compared to VA consensus estimates due to UK government expenditure cuts,” Chen explained in a note. “Indicative targets for FY26 EBITDA imply a 6% upgrade to consensus expectations for that year.”
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