Company Interview / Market Wrap | Viva Energy, NAB, Worley, Qube Holdings,

Viva Energy (ASX:VEA) expects its Geelong refinery to operate at reduced capacity in the short term... That's after last week's fire. The says diesel and jet fuel production is running at about 80 percent of capacity, while petrol output is around 60 percent. It says it has sufficient fuel stocks to maintain normal customer supply until July. The firm has also entered an agreement with the Federal Government to purchase additional cargoes. Viva says margins at the Geelong refinery surged over the quarter nearly three fold to $22 dollars a barrel.

National Australia Bank (ASX:NAB) has followed Westpac by increasing provisions.. to protect it from potential losses from borrowers stressed by the Middle East crisis. It will also lift its capital position by encouraging investors to reinvest dividends back into the bank. First half impairment charges will increase by $300-million dollars to $706-million. The increase comprises an extra $152 million reflecting a higher probability of a downside economic scenario, as well as a plus a net $148 million increase in “forward-looking adjustments”.

Worley (ASX:WOR) says the Middle East conflict is expected to lower earnings for the year by $30 to $40-million dollars. That's because of project delays and slower new awards. The company says no projects have been cancelled but timing delays have increased as customers defer commencements and face supply chain disruptions.

Qube Holdings (ASX:QUB) has provided an update on headwinds facing the logistics company in FY26. The Middle East conflict is expected to impact underlying EBITA by between ten and twenty million dollars, driven by higher fuel costs, lower agricultural volumes, and reduced forestry exports. It says recent severe weather in Australia and New Zealand has caused an estimated three to five million dollar EBITA impact. Despite these challenges, Qube continues to expect underlying earnings growth in FY26, with the company noting most impacts are temporary or timing related and should reverse in FY27.