Recap: Winners and losers from earnings season week 2

There was plenty to digest last week during the second week of earnings season. 

As always, there were a few surprises, both good and bad, as investors reacted to fresh results. 

Here are some of the important headlines from last week. 

Banks the surprise winner

One of the biggest jumps this earnings season came from ANZ Group Holdings Ltd (ASX: ANZ). 

ANZ reported its 2026 First Quarter Trading Update on Thursday February 12. 

The update included a first-quarter cash profit of $1.94 billion and a statutory profit of $1.87 billion. 

Cash profit jumped 75% compared to the second-half 2025 quarterly average, driven largely by lower expenses and stronger revenue.

This led to an 8% share price jump as investors reacted positively to the news. 

It also prompted several brokers to re-rate ANZ shares. 

It closed last week trading at $40.89, a 52 week high.

Its share price is now up almost 31% over the last 12 months, representing the biggest gain of the big four bank shares.

Commonwealth Bank of Australia (ASX: CBA) also surprised pundits with its 2026 Half Year Results last Wednesday. 

Its share price climbed almost 7% higher on the back of earnings season results. 

It reclaimed its title as Australia’s largest company, and posted statutory net profit after tax of $5.41 billion. 

Cash net profit came in at $5.45 billion,  up 6% on the prior corresponding period.

Overall it rose more than 10% last week. 

Healthcare woes continue

Whilst banks enjoyed a strong week, two of Australia’s largest healthcare stocks crashed on the back of earnings results. 

CSL Ltd (ASX: CSL) posted Half Year Results last Wednesday, which led to a 17% crash by week’s end. 

Things appear to be going from bad to worse for the ASX 200 company. 

A CEO exit and poor results headlined a horror week. 

The company posted an underlying NPATA of US$1.9 billion, which was down 7% on the prior corresponding period. 

Its share price is now down 41% in the last 12 months. 

It was a similar story for Pro Medicus Ltd (ASX: PME) shares. 

Following its HY26 Results last Thursday, its share price retreated 22%. 

For the six months ended 31 December, Pro Medicus reported a 28.4% increase in revenue to $124.8 million. 

Pro Medicus’ underlying EBIT margin increased to 73% from 72% the year prior. 

It’s share price is down 57% in the last 12 months which has attracted some buy-low attention from brokers. 

Another big miss 

Finally, another ASX large-cap company that had a week to forget was Nick Scali Ltd (ASX: NCK). 

It released 1H FY26 results on Friday. 

This sent investors running for the exit, as the share price fell 22% in a single day. 

Many financial results looked solid, however investors may have been reacting negatively to UK business losses.

The post Recap: Winners and losers from earnings season week 2 appeared first on The Motley Fool Australia.

More reading

• Bell Potter names 3 sold-off ASX 200 shares to buy today
• The earnings were awful, but here’s why I’m still holding my CSL shares
• Brokers re-rate CBA and ANZ shares after banks stun the market
• Brokers name 3 ASX shares to buy today
• Why Austal, Cochlear, Nick Scali, and WiseTech shares are tumbling today

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended CSL, Nick Scali, and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.