A quiet week on the NZX earnings front produced three actual results and two guidance updates out of 114 announcements, with the energy sector dominating the substantive news. CEN and GNE both reported operating updates shaped by a wet, mild winter, while small-cap logistics operator MOV flagged it had hit its turnaround target. On the guidance side, KMD lifted its full-year outlook alongside a manufacturing divestment, while overall sentiment across the week's news flow remained largely neutral.
Earnings Results
Contact Energy (CEN)
Contact Energy's June operating report showed mass market electricity and gas sales up 20.7% year-on-year to 495GWh, aided by a wet Clutha catchment that ran at 171% of its mean inflow and lifted hydro generation to 540GWh, roughly double the 275GWh generated a year earlier. That abundance of cheap hydro pushed unit generation costs down sharply, to $38.16/MWh from $54.27/MWh, but it also compressed unit economics elsewhere: customer netback eased to $141.18/MWh from $146.32/MWh, and wholesale electricity and steam net revenue fell to $175.68/MWh from $186.08/MWh as spot prices softened. For the full FY26 year, contracted electricity sales rose to 11,454GWh from 8,883GWh in FY25, and total customer connections reached 700,000, with roughly $1.5B committed across four renewable and battery projects under construction. Shares closed the week at $9.35, up 1.4%. The update landed alongside reports that New Zealand shares broadly fell over the week even as Contact posted higher retail volumes, and follows the company's recent completion of a NZ$450 million share placement to help fund its growth pipeline. Full FY26 results are due 10 August.
Genesis Energy (GNE)
Genesis Energy's Q4 FY26 performance report came in at the lower end of the EBITDAF guidance range it issued in April, with warmer-than-expected May and June temperatures denting demand. Electricity netback still rose 11.6% on the prior comparable period to $189/MWh, which the company attributed to the benefits of consolidating to a single brand and simplifying its product range, but total customers fell 5.8% to 490,227 and electricity sales volumes declined 153GWh over the same period. Hydro storage improved through the quarter, with lake levels climbing from 109% of average at end-March to 141% of average by 30 June, leaving the portfolio well positioned heading into the new financial year. Genesis continues to progress its FY32 Growth Plan, with Huntly BESS Stage 1 commissioning underway and reportedly running under budget, and Stage 2 now in detailed design. Shares were roughly flat over the week, down 0.8% to $2.58, following recent completion of the company's NZ$400 million capital raise and rights offer — a raise that had earlier weighed on the stock, with shares reported down 3.8% around the time of completion.
Move Logistics Group (MOV)
Move Logistics confirmed it has achieved its primary FY26 target of positive Normalised Earnings Before Tax, a milestone in its multi-year "New Horizons" turnaround. Three of the company's four divisions — Freight & Fuel, Specialist and International — delivered profitable earnings for the year, while Warehousing remained below expectations. Management also pointed to reduced net debt, improved free cashflow and revenue growth that gathered pace through the year, though specific financial figures will not be disclosed until audited results are released on 25 August. The market responded positively: shares rose 11.1% over the week to $0.20, the strongest weekly gain among this week's reporting companies, and news of the milestone was picked up widely given the scale of the turnaround relative to Move's small market capitalisation of roughly $25.5 million.
Trading Updates & Guidance
KMD Brands (KMD)
KMD Brands guided to FY26 sales of $1,040 million to $1,044 million, up around 5% year-on-year, with underlying EBITDA expected between $38 million and $41 million. That EBITDA range represents a jump of roughly 123% on the prior year, though the scale of that increase reflects how depressed the FY25 base was rather than a step-change in trading conditions. Alongside the update, KMD announced plans to divest its Southeast Asian manufacturing facility over the next 12 months, expected to generate $5 million to $7 million in net property proceeds plus around $6 million in unlocked working capital. Shares edged up 1.8% over the week to $1.725. The update follows Forsyth Barr's recent 7% cut to its price target on the stock, and comes as KMD separately confirmed it had refinanced its debt facilities with NZ$208 million in new credit lines — moves that together point to a company still working through balance sheet repair even as underlying trading improves.
Third Age Health Services (TAH)
Third Age Health Services pushed back the release of its Q1 FY27 trading update by a week, to 31 July, from the originally scheduled 24 July. No reason was given for the delay. Shares slipped 1.7% over the week to $4.52. The postponement follows a volatile period for the stock, which was recently flagged as having fallen 31% in a short window, alongside separate news that the company's Executive Chairman had increased his personal stake by 9.8% — a signal some may read as a vote of confidence ahead of the delayed update.
Top Movers
Most of this week's largest companies by market capitalisation featured in routine corporate notices — annual meeting notices, board appointments and substantial holder filings — rather than earnings updates, hence the absence of comparable revenue figures for several names above.
Weekly Price Movers
Notable Shareholder Movements
Substantial holder notices this week included Craigs Investment Partners lifting its stake in CHI (Channel Infrastructure) from 5.05% to 6.08%, while UBS Group trimmed its holdings in two names — reducing its stake in GTK (Gentrack) from 6.668% to 5.584%, and in ATM (a2 Milk) from 6.51% to 5.48%. At BRW (Bremworth), the David, Henry and Mangawhai Collective increased its already substantial holding from 19.071% to 19.734%, while PHC Investments disclosed an 11.739% stake in CVT (Comvita).
Reporting season proper begins to build from here, with Auckland Airport confirming its FY26 annual results for 20 August and Contact Energy and Mercury both due to present full-year numbers in the second week of August. Move Logistics' audited FY26 accounts, due 25 August, will provide the first hard numbers behind this week's turnaround announcement, while the energy sector's winter hydro story will remain a key theme as more generators report over coming weeks.