Twenty companies reported actual earnings results this week on the NZX, led by strong performances from FPH and IFT, while FCG upgraded its full-year guidance. Overall sentiment was positive with most companies delivering growth, though some faced challenging market conditions.
Earnings Results
Fisher & Paykel Healthcare (FPH)
Fisher & Paykel Healthcare delivered strong FY26 results with revenue up 14% to NZ$2.31 billion and net profit after tax growing 24% to NZ$468.5 million. The Hospital segment was the standout performer with 18% revenue growth to $1.51 billion, while Homecare grew 8% to $802.7 million. Earnings per share reached 79.8 cents and the company lifted its full-year dividend 22% to 52.0 cents per share. This comes following analyst upgrades, with UBS raising its target price to NZ$37.50 per share. Shares rose 9.4% over the week to $37.29.
Infratil (IFT)
Infratil reported strong FY26 results with Proportionate Operational EBITDAF growing 11% to NZ$989 million, driven primarily by CDC data centres (+19%) and Longroad Energy (+170%). Net parent surplus swung to NZ$550 million from a prior year loss, while dividends increased to 20.9 cents per share. Industry analysts upgraded their revenue forecasts by 11% following the results, with UBS raising its target price 4.5% to NZ$17.25. Despite the strong results, shares declined 0.9% over the week to $15.76.
Fonterra Co-operative (FCG)
Fonterra reported strong Q3 FY26 results with year-to-date total group operating profit of NZ$1.8 billion, up NZ$103 million on the prior year. Net profit after tax rose 8% to NZ$946 million while underlying earnings per share increased to 57 cents from 53 cents. The company lifted its FY26 full-year underlying earnings guidance to 60-70 cents per share from 50-65 cents previously. This follows the completion of a NZ$3.2 billion capital return to shareholders. Shares gained 2.5% over the week to $4.45.
Mainfreight (MFT)
Mainfreight reported mixed FY26 results with group revenue up 2.8% to NZ$5.38 billion but net profit declining 8.5% to NZ$251.0 million. The company showed strong second-half recovery with pre-tax profit of NZ$219.2 million in H2 versus NZ$131.7 million in H1. Earnings per share reached $2.49 and the dividend was maintained at 87 cents. Recent reports highlighted a "slow and disappointing" start to 2026, though the company demonstrated meaningful second-half improvement. Despite the mixed results, shares surged 11.4% over the week to $64.75.
Goodman NZ (GNZ)
Goodman NZ delivered strong FY26 results with statutory profit after tax of $248.0 million, though this was driven primarily by $111.2 million in fair value gains on investment properties. Operating earnings after tax grew 2.1% to $127.6 million while cash earnings per security rose 5.7% to 7.98 cents. Revenue declined 19.7% to $223.1 million and distributions increased 5% to 6.825 cents per security. The company guides to approximately 5% cash earnings growth in FY27. Shares rose 3.1% over the week to $2.00.
Stride Property Group (SPG)
Stride Property Group reported FY26 results with profit after tax of $31.3 million, up $9.6 million on FY25, and distributable profit of $49.1 million, up 2% on the prior year. Net rental income declined to $58.9 million due to asset sales, though management fee income grew 12% to $22.9 million. Distributable profit per share reached 8.78 cents with a maintained dividend of 8.0 cents. Shares were broadly flat over the week, up 0.4% to $1.165.
EROAD (ERD)
EROAD reported challenging FY26 results with revenue up just 0.4% to NZ$195.2 million and a net loss of NZ$161.1 million, driven by a NZ$134.7 million non-cash impairment of North American assets. However, Australian growth was exceptional at 40% while New Zealand remained cash-generative with $24.7 million of free cash flow. Following the results, analysts noted margin collapse challenges the bullish turnaround narrative. Shares rose 5.0% over the week to $1.05.
NZ King Salmon (NZK)
NZ King Salmon delivered a strong turnaround in 1HY26 with net profit of $13.8 million compared to a $20.8 million loss in the prior period. Revenue grew 6.1% to $100.3 million while earnings per share reached 3 cents. The company upgraded its full-year FY26 guidance and reported improved fish performance over summer. Recent coverage highlighted the company's positive half-year results and new boat acquisition. Shares surged 18.6% over the week to 25.5 cents.
Blackpearl Group (BPG)
Blackpearl Group delivered record FY26 results with Annual Recurring Revenue doubling 114% year-on-year to NZ$26.8 million. Subscription revenue grew 77% to NZ$13.7 million, though the company reported a net loss of NZ$18.1 million including one-off acquisition and listing costs. The DaaS segment achieved 0% revenue churn for the full year. Reports highlighted the company's US acquisition and planned ASX listing. Shares gained 1.5% over the week to 66.5 cents.
Promisia Healthcare (PHL)
Promisia Healthcare delivered strong FY26 results with operating revenue up 29% to $40.1 million and net profit after tax growing 97% to $12.9 million. Underlying EBITDAF rose 58% to $6.6 million driven by higher occupancy and deferred management fee growth. Earnings per share reached 24.52 cents and the company introduced a dividend policy. Group care occupancy improved from 87% to 94%. Shares jumped 23.4% over the week to 66 cents.
Top Movers
| Ticker | Revenue Change % |
|---|---|
| FPH | 14.0% |
Weekly Price Movers
Notable Shareholder Movements
Macquarie Group made a significant move into Contact Energy, lifting its stake from 0.07% to 5.04%, while Infratil reduced its holding in the same company from 14.08% to 9.08%. Accident Compensation Corporation increased its position in Argosy Property from 8.25% to 9.26%, and Harbour Asset Management raised its Pacific Edge stake from 9.96% to 11.14%. Ampfield Management also lifted its EROAD holding from 15.30% to 16.46%.
With the May reporting season now largely complete, attention turns to the upcoming interim results season later in the year. The strong performance from healthcare and infrastructure companies this week reflects continued investor appetite for defensive growth stories in an uncertain economic environment.