ASX Weekly Earnings Review — 14 February 2026

The ASX delivered a strong week of earnings with 93 companies reporting actual results alongside 10 guidance updates, showing overwhelmingly positive sentiment with 55 positive announcements versus just 6 negative. The standout performer was ORA, which swung from losses to a $58.9M profit - a staggering 29,350% improvement driven by strong packaging demand.

ORA - Orora

Orora reported exceptional H1 FY26 results with revenue climbing 9.7% to $1.13 billion and continuing operations profit jumping 32.3% to $77.8M before significant items. The packaging giant paid a 5.0 cent interim dividend and announced a new 10% share buyback program, though restructuring costs of $25.5M impacted statutory earnings. The Orora Cans segment delivered standout performance with 11.2% volume growth, demonstrating strong market demand for sustainable packaging solutions. Shares trade at $2.27, down 1.3% despite the strong result.

ALK - Alkane Resources

Alkane Resources delivered record H1 FY2026 results with revenue surging 232% to $404M and profit jumping 393% to $64.9M, driven by the successful Mandalay Resources merger that added the Costerfield and Björkdal operations. The gold miner achieved record quarterly and half-year production of 43.7k and 74.2k gold equivalent ounces respectively, with record operating cash flows of $133M in Q2. This follows news that analysts have made sizeable increases to their Alkane forecasts, reflecting confidence in the expanded three-mine portfolio. With $246M in cash and investments, shares trade at $1.69, up 0.3%.

PME - Pro Medicus

Pro Medicus delivered exceptional half-year results with revenue surging 28.4% to $124.8M and net profit more than tripling by 230.9% to $171.2M. The medical imaging software company declared a 32.0 cent fully franked interim dividend, up from 25.0 cents previously, reflecting both strong underlying performance and significant fair value gains on financial assets. Underlying profit before tax grew a solid 29.7% to $90.7M, demonstrating robust operational performance. Despite the strong result, shares have pulled back to $126.51, down 2.05%, as investors potentially take profits following the significant gains.

CBA - Commonwealth Bank

CBA delivered solid half-year results with cash NPAT rising 5-6% to $5.4 billion, supported by lending volume growth despite margin pressure from competition. The bank increased its interim dividend by 10 cents to $2.35 per share while maintaining a strong capital position with CET1 ratio of 12.3%. Net interest margin compressed 4 basis points to 2.04% due to competitive pressures, while underlying operating expenses rose 5% from inflation and technology investment. Shares trade at $179.67, up 0.83%.

EVN - Evolution Mining

Evolution Mining posted record H1 FY26 results with statutory profit soaring 110% to $767M and underlying EBITDA up 59% to $1.6B, driven by higher gold prices ($5,726/oz vs $3,875/oz) and consistent operational delivery. The gold miner declared a record interim dividend of 20 cents per share, fully franked, while maintaining strong cash generation with operating cash flow of $1.7B. The company improved its balance sheet with gearing reduced to just 6%, positioning strongly for future growth. Shares trade at $15.05, up 0.74%.

S32 - South32

South32 delivered strong H1 FY26 results with underlying EBITDA of US$1.1B and profit rising 29% to US$464M, driven by higher commodity prices and consistent operational performance. The diversified miner increased its capital management program by US$100M to US$2.6B and paid an interim dividend of US 3.9 cents per share. The company completed the divestment of Cerro Matoso, reducing complexity and lifting margins, while extending Cannington's underground mine life by approximately two years. Shares trade at $4.39, down 0.45%.

CSL - CSL

CSL reported disappointing half-year results with underlying NPATA down 7% to US$1.9B, heavily impacted by government policy changes, restructuring costs and asset impairments totaling ~$1.1B. The biotech giant maintained FY26 guidance of 2-3% revenue growth and 4-7% NPATA growth, with management expressing confidence in a stronger second half. Despite the challenging period, CSL expanded its share buyback from US$500M to US$750M, supported by strong cash flow generation. This comes amid questions about CSL's future direction as the company navigates significant headwinds. Shares trade at $153.27, down 0.6%.

TPW - Temple & Webster

Temple & Webster delivered strong revenue growth of 20% to $376M in H1 FY26, driven by 14% growth in active customers to ~1.4M and expanding market share to a record 2.9%. However, profit before tax fell 25% to $9.4M due to margin compression from increased price competition and New Zealand startup costs. The online furniture retailer maintained positive free cash flow of $22.9M and remains debt-free with $160.6M cash. The company successfully launched in New Zealand, generating $1M in sales within four months, though shares crashed 25% to $8.47 as investors focused on margin pressures.

Trading Updates & Guidance

ANZ - ANZ Group Holdings

ANZ delivered an impressive Q1 FY26 trading update with cash profit surging 75% to $1.9B compared to the prior quarter average, driven by significant cost management improvements. The bank achieved a dramatic improvement in its cost-to-income ratio to 49.5% from 65.5%, while return on tangible equity rose to 11.7%. This follows reports that investors are backing CEO's strategy after the solid result, with the bank making early progress on its ANZ 2030 transformation plan. Shares jumped 1.57% to $40.70.

ASB - Austal

Austal identified a US$17.1M accounting overstatement related to T-ATS program incentives that were double-counted by its US subsidiary, leading the defence contractor to revise its FY2026 EBIT guidance downward to approximately A$110M. This comes after Austal recently won a A$4 billion Navy deal and was appointed as Strategic Shipbuilder by the Australian Government. Despite the accounting error affecting guidance, shares rose 5.53% to $6.30 as investors potentially viewed the sell-off as overdone.

STO - Santos

Santos provided additional 2025 guidance indicating revenue of ~$4.9B and cost of sales of $3.25-3.3B, while releasing its annual reserves statement showing 2P reserves of 1,484 mmboe with a 17-year reserves life. The energy giant achieved a strong 95% 1P reserves replacement ratio, though this comes amid reports of job cuts and asset sales as the company navigates challenging market conditions. Shares trade at $6.94, down 0.86%.

Top Movers

Notable Shareholder Movements

Pinnacle Investment Management Group made significant portfolio moves this week, becoming a substantial 20% holder in both Jupiter Mines (JMS) and Smartgroup Corporation (SIQ), while ceasing to be a substantial holder in Sims (SGM). Meanwhile, in the lithium space, Dr Jose Luis Manzano reduced his stake in Patagonia Lithium (PL3) from 49.15% to 42.51%, while Magnus Capital also trimmed its holding from 16.04% to 13.88% due to share placement dilution.

The week's results demonstrate the resilience of Australian companies, with strong performances from miners benefiting from higher commodity prices, technology companies showing robust growth, and financials maintaining solid fundamentals despite margin pressures. Looking ahead, more major companies are expected to report in the coming weeks as the February reporting season continues to unfold.