The ASX delivered 27 actual earnings results and 18 guidance updates this week, dominated by mining giant NEM's exceptional first quarter performance and NAB's major balance sheet strengthening measures. The overall sentiment remained positive despite headwinds from Middle East conflicts impacting several companies' FY26 outlooks.
Earnings Results
Newmont Corporation (NEM)
Newmont delivered a strong Q1 2026 result with adjusted net profit of $3,156M, up 125% year-on-year, driven by significantly higher gold prices. Revenue surged 46% to $7,307M as the company achieved a record realized gold price of $4,900/oz, compared to $2,944/oz in the prior period. Earnings per share reached $3.00 with a quarterly dividend of $0.26. The company generated robust free cash flow of $3,144M and announced a doubled share repurchase authorization to $6.0B. This follows news of Newmont beating quarterly profit estimates on strong gold prices and declaring its quarterly dividend for ASX investors. Shares closed at $155.66, down 0.4% for the week despite the strong results.
National Australia Bank (NAB)
NAB announced significant balance sheet strengthening measures ahead of 1H26 results, including a $300M net increase in forward-looking collective provisions due to Middle East conflict-related risks and a $1.347B pre-tax accelerated amortization charge from software capitalization policy changes. The bank is raising up to $1.8B via a discounted dividend reinvestment plan to bolster capital, expecting a pro forma CET1 ratio above 12.0%. This follows reports that NAB's balance sheet strengthening comes amid credit cost jumps and the DRP announcement. Shares fell 5.5% for the week to $40.195.
South32 (S32)
South32 reported mixed Q3 FY26 operational results despite weather impacts, with strong performances from Brazil Alumina achieving record year-to-date production and Sierra Gorda delivering a record quarterly distribution of US$135M. However, Australia Manganese guidance was revised 6% lower due to elevated water levels and cyclone impacts. The company maintained annual production guidance for most operations while declaring a dividend of 175 cents. This comes amid reports that South32 cut manganese guidance, creating opportunities for smaller ASX competitors. Shares declined 5.0% for the week to $4.305.
Sandfire Resources (SFR)
Sandfire reported record Q3 FY26 financial outcomes with group sales revenue of $408M and underlying EBITDA of $220M, achieving a 54% net margin. Production fell short of expectations at 34.5kt CuEq due to heavy rainfall and maintenance at MATSA and delayed grade transition at Motheo. The company maintains FY26 CuEq production guidance of 149-165kt, expecting the lower half of the range, while retaining a strong net cash position of $76M. Shares dropped 6.1% for the week to $17.10.
Perseus Mining Limited (PRU)
Perseus delivered strong Q3 FY26 operational performance with gold production of 107,144 ounces at an AISC of US$1,748/oz, generating notional operating cash flow of US$252M. The company's cash and bullion position surged to US$817M following robust production and a significantly higher realized gold price of US$4,143/oz. Production was 21% higher than the prior quarter while maintaining unchanged FY26 guidance of 400,000-440,000 ounces. Shares declined 1.0% for the week to $5.555.
Paladin Energy (PDN)
Paladin raised full-year production guidance to 4.5-4.8Mlb U3O8 from 4.0-4.4Mlb, reflecting successful mining fleet mobilization and high processing plant recovery rates. Q3 production of 1.29Mlb was up 5% quarter-on-quarter with the company achieving an average realized price of US$68.3/lb. The company secured Environmental Impact Statement approval for the Patterson Lake South project in Canada, clearing a major regulatory milestone. This follows reports of Paladin's production guidance lift amid the EIS approval facing legal challenges. Shares fell 13.2% for the week to $12.62.
Bank of Queensland (BOQ)
BOQ reported 1H26 cash earnings of $176M, down 4% year-on-year, with statutory NPAT down 20% to $136M impacted by a $31M loss on equipment finance assets held for sale. Revenue grew 5% to $832M driven by net interest income growth, while the bank demonstrated strong digital transformation progress with 72% of retail customers migrated to the digital platform. Earnings per share of $0.268 supported an interim dividend of 20 cents. The company maintains a strong CET1 capital ratio of 11.18% and expects to complete a transformational $3.7B equipment finance sale to Challenger Limited. Shares declined 8.4% for the week to $6.695.
Emerald Resources (EMR)
Emerald reported strong Q1 FY2026 results with the Okvau Gold Mine producing 26.3Koz at an industry-leading AISC of US$897/oz and generating record pre-tax operating cash flow of A$143.0M. The company maintained FY2026 production guidance of 105-120Koz with output expected at the lower end, supported by high plant availability of 97% and gold recovery of 85.3%. This follows news of Emerald delivering record cash flow and project progress. Shares fell 2.7% for the week to $6.305.
Trading Updates & Guidance
Suncorp Group (SUN)
Suncorp agreed to a 5-year aggregate reinsurance arrangement providing $800M annual protection, expected to reduce earnings volatility and release approximately $100M in capital. The company updated FY26 guidance, expecting natural hazard experience approximately $250M above allowance and GWP growth of around 3%. This comes amid reports of Suncorp entering a AU$2.4B reinsurance deal while maintaining margins at the top of the range. Shares gained 2.8% for the week to $17.165.
NextDC (NXT)
NEXTDC announced significant growth in contracted utilization, increasing by 250MW to 667MW as of 31 March 2026, and raised FY26 capital expenditure guidance by A$300M to A$2,700-A$3,000M to accelerate inventory expansion. This follows news of NextDC shares hitting 2026 highs as A$750M notes boost liquidity and the company's $2.2B capital plan to fund growth. Shares surged 5.9% for the week to $14.95.
Cochlear (COH)
Cochlear reduced its FY26 underlying net profit guidance to $290-330M from $435-460M due to softer-than-expected trading in developed market cochlear implants and Middle East conflict uncertainty. Second half sales growth is now expected to be 2-6% in constant currency, though the company remains confident in its long-term strategy. This led to reports of Cochlear crashing to decade lows on the guidance cut in its worst selloff on record. Shares plummeted 42.0% for the week to $97.69.
Mercury NZ (MCY)
Mercury NZ upgraded its FY2026 EBITDAF guidance from $1.0B to $1.05B, reflecting disciplined portfolio management and higher forecast renewable generation from hydro and new generation assets. This follows news of Mercury NZ upgrading FY2026 EBITDAF guidance. Shares gained 0.9% for the week to $5.46.
Weekly Price Movers
Notable Shareholder Movements
Dimensional Entities made the largest move this week, becoming a substantial holder in IPH at 20.0%. Other notable new substantial holdings included UBS Group AG taking a 5.08% stake in EQR, while State Street Corporation established positions in several companies including Select Harvests (SHV) at 5.04%, Electro Optic Systems (EOS) at 5.01%, and Collins Foods (CKF) at 5.15%.
Looking ahead, the earnings season continues with companies navigating heightened geopolitical tensions and their impact on fuel costs and supply chains. Middle East conflicts remain a key theme affecting guidance across multiple sectors, from energy to healthcare logistics, while mining companies continue to benefit from elevated commodity prices and strong demand fundamentals.