ASX reporting season: All the latest news from companies releasing financial results to the market today

Higher prices for copper, zinc and silver have boosted “one of the best financial results” in South32’s history, says CEO Matt Daley.

The diversified miner this morning reported only a one per cent rise in revenue to $US5.8 billion from continuing operations.

Underlying revenue, which still included contributions before the sale of its Illawarra metallurgical coal and Cerro Matoso ferronickel operation, was 7 per cent higher at $US8.1b.

Net profit was 410 per cent higher at $US1.1b.

The board declared a final dividend of US5.4c a share.

“Strong operating performance coupled with commodity price tailwinds underpinned one of the best financial results in our history, with group underlying EBITDA increasing by 28 per cent to $US2.5b and underlying earnings increasing by 55 per cent to $1b,” Mr Daley said.

“Cannington and Sierra Gorda’s operating performance enabled the group to capture the benefit of higher prices across copper, zinc and silver, supporting increased earnings and cash flow from our base metals business.”

South32 last month revealed it would sell its aluminium assets - which include Worsley Alumina (86 per cent), Hillside Aluminium (100 per cent) and the Mineração Rio do Norte bauxite mine (33 per cent) - to US giant Alcoa for $US5.6b.

Mr Daley said the deal would simplify and strengthen the miner’s portfolio, “positioning South32 as a leading base metals focused company with high-margin assets and a pipeline of compelling growth options in copper, zinc and silver”.

The company expects to invest $US1b this financial year in Hermosa, its main growth project - azinc-lead-silver-manganese-copper mine in the US state of Arizona.

The cost of the development had originally been put at $US2.2b but that has since blown out to $US3.3b.

South32 ended the last financial year with $US283m in cash.

Qantas has booked a substantial fall in full-year profit after taking a massive hit from the Middle East conflict, which sent aviation fuel to record highs.

The airline reported statutory net profit of $1.29 billion, down almost 20 per cent, and an underlying result of $2.06b, down 13.8 per cent.

The Flying Kangaroo said its management responded quickly to the fuel price surge, caused by the US and Israel’s war on Iran in the final four months of 2025-26, by adjusting fares and capacity - allowing it to keep investing in fleet renewal.

Chief executive Vanessa Hudson said it was very much a year of two halves, with demand growing across domestic and international networks to start with, followed by a fuel bill that was $610 million higher than expected.

But its response meant a net impact of $420m.

“Despite these pressures, our operations and our people did not miss a beat,” Ms Hudson told a press conference in Sydney.

“Domestic had its best on-time performance in seven years.”

She said demand remained resilient as 2026-27 unfolded.

The company expects fuel prices will remain elevated through the first half.

“Intention to travel is high, and the investments that we are making in our fleet, our product, our customers, and our people position us well for years ahead,” Ms Hudson said.

Statistics in Qantas’ annual report showed it carried 55.945 million passengers last financial year, up from 55.901 million previously, while its fleet rose to 372 from 363.

The airline said its group, including the budget arm Jetstar, would take delivery of 31 new aircraft this fiscal year including four for ultra-long haul flights between Australia and New York and London under its Project Sunrise operation, described as “the final frontier of aviation”.

Qantas had initially planned to buy 12 A350-1000s to operate the flights for delivery in 2023 but COVID-19 hit, pushing the target out to late 2025, then the end of calendar 2026.

Chris Ellison’s Mineral Resources is touting the strongest result in the company’s two-decade history after both revenue and profit soared.

Build off the back of the ramp up of its Onslow Iron operation and growth in its mining service division, revenue was up 44 pe rcent comapred to the previous financial year to a record $6.5 billion.

Reported net profit leapt 236 per cent to $1.2b, prompting the board to reinstate dividends, delcaring a final payout of 83c.

Underlying net profit came in at $822m, up more than 800 per cent. The results was compounded by a $69m charge against the closure of its Lucky Bay garnet operation.

MinRes said the return of divideneds reflected the board’s confidence that the balance sheet was healthy “and we are generating cash to sustain returns through the cycle”.

Mr Ellison said the past 12 months had been among the most significant in the history of the company he started 20 years ago.

“Record operational and financial results reflect years of strategic investment, positioning the company to enter its third listed decade with a stronger foundation than at any point in our 20-year journey on the ASX,” he said.

“Onslow Iron achieved nameplate capacity of 35mtpa in August 2025, just three years after we reached a final investment decision.

“The speed of delivery is a demonstration of the inhouse capability we have developed across the business, with strong cash flow from the project now accelerating the deleveraging of the balance sheet.”

Wesfarmers’ shift into health and wellbeing is paying dividends.

But its full-year results released on Thursday show there is little stopping the runaway success of its Bunnings stores and the power of the hardware giant to lure in shopper, even amid a cost-of-living crisis.

The WA conglomerate unveiled a 3.4 per cent rise in revenue compared to the previous year to $47.3 billion.

Bunnings brought in $20.4b of that total — up 4.1 per cent from a year earlier.

Its health divisions — which includes Priceline Pharmacy, Australian Pharmaceutical Industries, Clear Skincare and The Silk Group — is proving its earning potential, with revenue soaring 9.1 per cent, up from $5.93b the previous year to $6.5b.

Kmart, Officeworks and its chemicals division also reported solid growth.

Full-year net profit excluding significant items came in at $2.9b, up 8.3 per cent. With those added back in, profit slipped 1.8 per cent to $2.87b.

The board declared a 9¢ rise in the final dividend to $1.20.

Wesfarmers said it recognised the impact of ongoing inflation on households and businesses, “and the retail divisions play an important role in the community through offering everyday low prices”.

It also pointed to subdued activity in the residential housing sector over the short term.

“The structural housing undersupply and population growth are expected to support increased building activity in the medium term and Bunnings remains well positioned to benefit from this recovery,” it said.

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Wall Street’s main indices have closed slightly lower after a US inflation reading came in hotter than expected, while many investors stuck to the sidelines ahead of AI bellwether Nvidia’s earnings later in the day.

A Commerce Department report showed annual US inflation increased 3.7 per cent in the 12 months through July, a touch above expectations.

Separate data showed the economy grew 1.5 per cent in the second quarter.

The latest print added another wrinkle to the Federal Reserve’s policy outlook, raising the stakes for upcoming economic data.

Investors will focus sharply on Fed chair Kevin Warsh’s Jackson Hole speech on Friday.

“It wasn’t enough to shift the balance for September’s meeting but if subsequent data point in the same direction, the Fed may feel more pressure to move off the sidelines,” said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management.

The US central bank’s next scheduled meeting is in September, putting the policy decision in focus during what is historically a weak month for equities.

The Dow Jones Industrial Average fell 113.52 points, or 0.21 per cent, to 53,463.88, the S&P 500 lost 1.58 points, or 0.02 per cent, to 7675.70 and the Nasdaq Composite lost 21.10 points, or 0.08 per cent, to 26,130.20.

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Yesterday was a massive one for company reports. In the whirlwind, here’s what you may have missed ...