It was a quiet week for actual earnings on the ASX, with just one formal results release against a much heavier flow of 14 trading updates and guidance revisions out of 157 total announcements. The standout theme was profit guidance moving in both directions: SGM upgraded earnings expectations sharply while FLT and KAR both trimmed theirs. Sentiment across the announcements skewed neutral overall, with five positive updates against two negative ones.
Emeco Holdings (EHL)
The week's only formal earnings release came from mining equipment provider EHL, which issued a trading update covering both FY26 expectations and FY27 outlook. The company guided to FY26 Operating EBITDA of $290-295 million and Operating EBIT of $145-150 million, which management described as resilient given moderately softer trading conditions from wet weather and supply chain disruption. Net leverage improved to 0.4x, leaving the balance sheet with capacity for further M&A should opportunities arise. For FY27, Emeco pointed to secured fleet redeployment contracts and improving utilisation, with earnings expected to be weighted to the second half. Shares closed the week at $0.97, down 1.0%, little changed despite the positive tone of the update. Recent coverage has flagged Emeco as one of several ASX small caps attracting attention on valuation grounds, alongside reports of the stock climbing amid continued interest in mining equipment providers more broadly.
Trading Updates & Guidance
Sims (SGM)
Metals recycler SGM delivered the week's largest guidance upgrade, lifting FY26 Underlying EBIT expectations to $420-435 million from a prior $350-400 million range. The upgrade was driven by strength in non-ferrous markets and improving ferrous conditions, with North American Metal businesses expected to post significant second-half earnings growth. Sims Lifecycle Services, the group's data destruction and recycling arm, is now forecast to deliver $170-175 million EBIT, benefiting from continued growth in data centre volumes. Despite the upgrade, shares fell 11.7% over the week to $25.70 — a reminder that a strong guidance update doesn't always translate into share price gains, particularly after the stock reportedly climbed 56% over the past year and may have already priced in much of the improvement.
Fletcher Building (FBU)
FBU guided to FY26 EBIT of $375-380 million, excluding discontinued operations and including roughly $40 million from property sales. The company also confirmed it will withdraw its Moody's credit rating following completion of six divestments, with property sales expected to generate approximately $450 million in cash proceeds earmarked for debt reduction. The update follows recent news that the construction division sale has become unconditional, a milestone in the group's broader restructuring. Shares rose 16.5% over the week to $3.04, among the stronger price moves of the companies covered this week, even as commentary elsewhere questioned whether the market is looking past near-term volatility in the stock.
Flight Centre Travel Group (FLT)
FLT cut its FY26 underlying profit before tax guidance to $275-295 million from $310-345 million, citing disruption to leisure travel from the Middle East conflict. Alongside the downgrade, the company announced an on-market buy-back of up to $200 million, using surplus cash to signal confidence in its longer-term recovery. Despite the lowered guidance, shares gained 18.2% over the week to $13.09 — the strongest weekly move among the guidance updates covered here, suggesting the buy-back and capital discipline message resonated more than the profit cut weighed on sentiment.
Growthpoint Properties Australia (GOZ)
GOZ reaffirmed FY26 guidance of 23.0-23.6 cents per share funds from operations and an 18.4 cents per share distribution, supported by 54,721 sqm of office leasing completed year-to-date and portfolio occupancy of 96%. The REIT also refinanced $495 million in debt during the period. Shares slipped 2.0% to $2.235 over the week. Coverage has focused on the stock's dividend yield, reported at around 8.28%, with some commentators framing the level as a signal of market uncertainty around the sector rather than pure opportunity.
Aussie Broadband (ABB)
ABB confirmed completion of its acquisition of AGL Energy's telecommunications business, issuing AGL $115 million in shares (roughly a 7% stake) in the process. The deal adds around 350,000 NBN and mobile connections expected to migrate by the second quarter of FY27, contributing an estimated $21 million in annualised EBITDA. Aussie Broadband also completed migration of More Telecom and Tangerine Telecom customers, adding a further 275,000 connections and $12 million in annualised EBITDA. Combined, these transactions position the company as the third-largest NBN provider with over 1.3 million connections. Shares fell 14.5% over the week to $4.76, with reports noting a same-week 4% intraday decline as the market digested the scale of the integration task ahead.
Electro Optic Systems (EOS)
Defence technology group EOS provided a business update following its May 2026 acquisition of MARSS, pointing to elevated demand for its products amid conflicts in the Middle East and Europe. The combined order book stands at $726 million. The core EOS business (excluding MARSS) is guided to 2026 revenue of $240-270 million, though revenue timing for MARSS remains under review pending accounting assessment and supplier delivery confirmation. Shares fell 28.1% over the week to $6.71 — the sharpest weekly decline among this week's guidance updates — despite separate reports of the stock rising on a strong June quarter, illustrating some volatility in how the market has processed the MARSS integration.
Karoon Energy (KAR)
KAR cut its CY26 production guidance following operational setbacks at the Who Dat Joint Venture in the Gulf of Mexico. Reinstatement of production from the E manifold has been pushed back to the second half of 2027, later than the previous 2026 timeline. Total company production guidance was reduced to 7.2-8.2 million barrels of oil equivalent from 8.1-9.2 MMboe, with the Who Dat contribution specifically cut to 1.2-1.5 MMboe from 2.1-2.5 MMboe. Shares fell 14.8% over the week to $1.73. The downgrade came even as separate reporting noted the Baúna field had been restored to around 22,000 barrels of oil per day and quarterly revenue of US$116 million, underscoring that the Who Dat delay was the primary driver of the negative reaction.
Southern Cross Electrical Engineering (SXE)
SXE announced new works awards exceeding $150 million across data centre, infrastructure and mining sectors, alongside an upgrade to FY26 EBITDA guidance to at least $75 million and initial FY27 guidance of at least $100 million. To fund working capital and acquisition opportunities, the company launched a fully underwritten $150 million institutional placement plus a $15 million share purchase plan, priced at $3.85-$4.00. Shares rose 8.2% over the week to $4.35, holding up well despite the dilutive raise — commentary has framed the deal as pricing at a
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