The ASX saw 64 actual earnings results and 13 trading updates land this week, out of 232 total announcements, with sentiment tilted firmly positive (51 positive versus just 3 negative). The standout story was RIO's step-change half-year result, while the energy sector broadly benefited from elevated refining margins, with ALD and VEA both posting sharp earnings gains off unusually wide Lytton refinery margins. Miners and gold producers also featured heavily, with several names meeting or beating full-year production guidance.
\n\nMajor Earnings Results
\n\nRio Tinto (RIO)
\nRio Tinto delivered the week's most closely watched result, with H1 2026 underlying EBITDA of $14.8 billion, up 28% year-on-year, and revenue of $31 billion, up 15%. Free cash flow rose 75% to $3.8 billion, underpinning a 43% lift in the interim dividend to $3.4 billion, alongside a 50% payout ratio. NPAT rose 43% to $6.85 billion, with EPS of $4.21. Management pointed to $870 million in banked productivity savings year-to-date, with a target of $1.8 billion in annualised benefits by year-end. Shares finished the week at $170.05, up 6.3%. Coverage from the AFR noted chief executive Simon Trott's focus on positioning the copper business for the data centre boom, while the Motley Fool highlighted copper and lithium as the key swing factors behind the improved result.
\n\nOrigin Energy (ORG)
\nOrigin's June quarter update showed APLNG full-year production of 668 PJ, above the guidance midpoint, with FY26 Energy Markets EBITDA also tracking above the midpoint of its $1,550-1,750 million range. Revenue for the period was $8.05 billion, down 19% year-on-year. Origin received $911 million in fully franked dividends from APLNG, near the top of its guided range, and continued to expand its battery storage fleet to 980 MW / 3,408 MWh. FY27 guidance flagged softer APLNG production (625-670 PJ) due to natural field decline. The stock was little moved over the week, up 0.8% to $10.71, though the result was overshadowed somewhat by news of a data security incident affecting roughly 900,000 customers, which Kalkine flagged as a reputational risk to watch alongside the Octopus Energy/Kraken separation.
\n\nAmpol (ALD)
\nAmpol posted a sharp earnings improvement for 1H 2026, with RCOP EBITDA of $1.6 billion, up from $649 million a year earlier, and RCOP EBIT of $1.35 billion, up from $404 million. The result was driven by unusually wide Lytton refinery margins, which averaged US$28.26 a barrel, roughly 280% above the prior period, following supply disruptions linked to Middle East conflict. Australian fuel sales grew 2.8%, aided by the expansion of the U-GO discount retail format. The company also completed its $1.165 billion acquisition of EG Australia, targeting $65-80 million in annual synergies. Shares rose 2.7% over the week to $39.71, with thebull.com.au noting the stock touched its highest level in years. Investors should note the scale of the margin gain reflects a temporary supply shock rather than a structural shift, with maintenance at Lytton expected to trim production by around 300ML between August and October.
\n\nWhitehaven Coal (WHC)
\nWhitehaven's June quarter report showed FY26 managed ROM production of 40.3Mt, up 3% year-on-year and at the top end of guidance, with equity sales of 26.0Mt. Unit costs of roughly A$132/t and capex of about A$350 million both came in at the low end of guided ranges, alongside A$60-80 million in cost savings. Net debt stood at A$1.3 billion after the second US$500 million acquisition instalment was paid. Despite the operationally strong quarter, shares fell 10.1% over the week to $6.965 — a reminder that production beats don't always translate into share price gains when broader coal price sentiment is soft.
\n\nRamelius Resources (RMS)
\nRamelius met full-year production guidance for a sixth consecutive year, delivering 192,182 ounces of gold at an AISC of A$1,983/oz (A$1,840/oz excluding an accounting adjustment). Q4 production alone was 53,466 ounces. Revenue for the period was A$322.7 million, and the company generated underlying free cash flow of A$393.3 million for the full year. Ramelius also announced the A$300 million sale of its non-core Edna May hub to Forrestania Resources, while its Never Never underground mine ramped ahead of schedule. Shares rose 2.8% to $3.085 for the week.
\n\nViva Energy (VEA)
\nViva Energy's unaudited 1H26 result showed Group EBITDA (RC) of $770-780 million, more than double the $305 million reported in 1H25, driven by a regional refining margin of US$21.1 a barrel versus US$8.2 a year earlier. Net debt improved to $1.7 billion from $2.1 billion. The gain was partially offset by an Alkylation unit fire at the Geelong refinery in April. Shares were the week's standout mover among the larger energy names, up 12.8% to $2.82, with Yahoo Finance noting the update helped lift the broader market on the day of release.
\n\nEmerald Resources (EMR)
\nEmerald Resources reported Q2 FY2026 gold production of 27.1koz at an improved AISC of US$818/oz, down from US$897/oz in the prior quarter, generating pre-tax operating cash flow of A$127.3 million. The company issued FY2027 guidance of 100-115koz at an AISC of US$980-1,080/oz, reflecting investment in the Dingo Range and Memot projects. Shares rose 5% to $5.45 over the week, even as one Kalkine headline flagged a sharp intraday fall, suggesting some volatility around the announcement.
\n\nLiontown Resources (LTR)
\nLiontown met all FY26 guidance metrics, reporting concentrate production of 392kdmt, unit costs of A$987/dmt and AISC of A$1,233/dmt, alongside record quarterly underground development of 3,316 metres. Revenue for the period was $640 million. Net cash generation of $137 million lifted the cash balance to $561 million. However, FY27 guidance pointed to a continued investment phase, with capex of A$320-370 million. The market reaction was negative, with shares down 18.4% over the week to $0.9675 — the AFR described a "mixed bag" for lithium producers, contrasting Liontown's fall with a stronger showing from Mineral Resources.
\n\nDomino's Pizza Enterprises (DMP)
\nDomino's reaffirmed FY26 underlying NPAT guidance of $118-122 million and reported free cash flow of roughly $164 million, up about 49% on FY25, even as same-store sales fell 4.1%. The company also recognised approximately $259 million in balance sheet write-downs ($246 million non-cash), reflecting underperformance in France and Taiwan, though management stressed this does not affect underlying earnings or debt covenants. Shares rose 12.1% over the week to $18.605. The AFR noted the update squeezed short sellers who had bet against the stock, while Stocks Down Under observed the write-downs sat alongside a "quietly tripling" cash story.
\n\nOther Notable Results
\nBKI Investment Company reported FY26 NPAT up 4% to $64.4 million and EPS up 4% to 7.98 cents, with portfolio performance of 12% outperforming the ASX 300 by 4.4%; the company is shifting to quarterly dividend payments. Garda Property Group swung to a $23.8 million FY26 profit from a $6.1 million loss the year prior, with revenue up 19.4% to $38.3 million, driven by asset sales and debt reduction. Korvest grew revenue 8.3% to $129.5 million but saw profit fall 5.7% to $12.41 million on reduced operating leverage, while maintaining fully franked dividends of 65 cents per share. Sovereign Metals delivered a definitive feasibility study for its Kasiya project showing a US$2.2 billion pre-tax NPV, while BlinkLab grew revenue 222% to $1.21 million off a small base, with the net loss widening to $7.22 million as it invests in FDA-track clinical validation for its digital diagnostics platform.
\n\nTrading Updates & Guidance
\n\nALS (ALQ)
\nALS used its AGM address to confirm record FY26 performance, with Minerals organic growth of 20.2%, and guided to high single-digit organic revenue growth and margin improvement for Q1 FY27. Commodities is performing above expectations, while Life Sciences is improving gradually. Shares rose 5.8% over the week to $21.64, though a simplywall.st piece noted the business was recently hit by a cyber breach.
\n\nDroneShield (DRO)
\nDroneShield reported 1H 2026 revenue of $125.8 million, up 74%, with FY2026 committed revenue of $206 million and full-year guidance of $250-270 million, alongside a new $23.2 million European military contract and the launch of its third-generation RfAI-3 detection engine. Despite the strong numbers, shares fell 16.7% over the week to $1.70 — Rask Media and the Motley Fool both flagged the drop as a reaction to the trading update, illustrating how a high-growth stock can sell off even on a solid guidance print if expectations were higher still.
\n\nElectro Optic Systems (EOS)
\nEOS reported 1H 2026 revenue of approximately $169 million, up 284% on the prior corresponding period, with its order book climbing 84% to $846 million. FY26 base business revenue guidance was upgraded to $280-300 million, with positive underlying EBITDA now expected for the half. The company completed its MARSS acquisition during the period, securing new orders including roughly A$175 million from a UAE-based customer. Shares eased 2.3% over the week to $6.71, despite the strong operational update.
\n\nWebjet / Web Travel Group (WEB)
\nWeb Travel Group guided to 1H27 WebBeds TTV margin of around 6.7%, up from 6.5%, with revenue growth of 11-15% and Group Underlying EBITDA of $80-86 million. The board also announced an on-market buyback of up to $90 million, saying the current share price does not reflect trading performance. The market responded strongly, with shares up 33.1% over the week to $3.42 — a sharp reversal from the AFR's earlier reporting of the stock hitting record lows amid the war-driven travel disruption.
\n\nMyer Holdings (MYR)
\nMyer reported FY26 total sales of $4.089 billion, up 11.3% on an actual basis but only 0.3% higher on a pro forma basis, with operating gross profit of approximately $1.6 billion. Management cited cost-of-living pressures and volatile consumer spending in the second half. Shares fell 15% over the week to $0.2125, with the AFR reporting management's own description of trading conditions as "volatile" and "challenging".
\n\nOther Guidance Updates
\nEDU Holdings reported record 1H26 revenue of $53.5 million, up 48%, and EBITDA up 51% to $16.5 million, driven by 57% enrolment growth in its higher education arm. Wisr delivered its first full-year Cash NPAT profit of $1 million in FY26, beating all four guidance metrics, and shares jumped 45.2% over the week. On the downside, Advanced Innergy Holdings downgraded FY26 guidance, now expecting revenue of about £162 million (down 14%) and EBITDA of £20 million (down 34%), citing Middle East conflict disruption to supply chains, though its order book has grown to £133 million.
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