1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
Australian shares are expected to open mildly higher today, despite a weaker session on Wall Street. Technology and semiconductor stocks led declines overnight, with the S&P 500 and Nasdaq finishing lower, while the Dow edged higher. Investors are positioning ahead of Nvidia’s earnings and Federal Reserve Chair Kevin Warsh’s appearance at the Jackson Hole Symposium later this week, while geopolitical tensions surrounding Iran sanctions remain in focus.
Sandisk (SNDK) and Marvell Technology (MRVL) were among the semiconductor stocks under pressure overnight, as investors continued to rotate away from some AI and chip names amid concerns around the sustainability of AI-related profits. Nvidia, Micron and Broadcom also declined.
Alibaba Group (BABA) weighed on broader technology sentiment after its discounted $10.2 billion share sale raised concerns around dilution and the wider outlook for Chinese technology stocks.
Woodside Energy (WDS) reported a 13% increase in first-half operating revenue to US$7.5 billion, while underlying profit rose 7% to US$1.3 billion, slightly below expectations. Woodside said its Scarborough LNG project remains on schedule to deliver its first LNG cargo in the December quarter. The company is targeting US$350 million in annual cost savings from 2028 and declared a fully franked interim dividend of US57 cents per share.
Coles (COL) delivered a strong result, with underlying profit rising 14% to $1.26 billion, despite a $165 million after-tax impact from its wage underpayment case. Supermarkets remained the key driver, with sales excluding tobacco up more than 5%, while liquor sales declined just over 3% amid ongoing cost-of-living pressures. Coles declared a fully franked final dividend of 37 cents per share, taking the full-year dividend to 78 cents, up 13%.
Scentre Group (SCG) upgraded its earnings outlook after a stronger-than-expected first half. Funds from operations increased around 4.5% to $612 million, while distributions rose close to 5% to $481 million. Full-year FFO guidance was upgraded to at least 23.79 cents per security. Westfield centres recorded 347 million visits during the first half, while occupancy reached 99.8%, its highest level since 2013. Scentre is also expanding its development pipeline, with more than 25,000 potential dwellings identified.
Fisher & Paykel Healthcare (FPH) reported FY26 operating revenue of $2.31 billion, up 12% in constant-currency terms, while net profit after tax jumped 28% to $468.5 million. The company approved a total dividend of 52 cents per share and expects FY27 revenue of between $2.47 billion and $2.57 billion, with net profit forecast at $525–565 million.
AUB Group (AUB) expects underlying net profit after tax to increase by up to 18% in FY27, following a 12% rise in underlying NPAT to $224.6 million. International operations were the key contributor to earnings growth, while Australian broking earnings increased 10%. AUB declared a fully franked final dividend of 71 cents per share.
Nanosonics (NAN) reported FY26 revenue of just under $204 million, up 2.7% year-on-year, although net profit declined almost 14%. The company expects revenue growth in FY27 but warned that tariffs and higher freight costs could put pressure on margins.
Electro Optic Systems (EOS) reported first-half revenue of almost $169 million, up more than 280% year-on-year. The defence contractor recorded a pre-tax loss of around $29 million, including a $34 million non-cash fair-value loss related to contingent consideration from its May acquisition of MDA. EOS expects FY26 revenue of between $360 million and $400 million.
SiteMinder (SDR) more than halved its FY26 net loss to $11.3 million, while EBITDA tripled to $24.4 million. Revenue increased 19%, despite softer travel conditions linked to geopolitical tensions. Its cloud-based software platform continued to support growth, with average revenue per user increasing 6%.
