National Australia Bank Ltd (ASX: NAB) shares are charging higher on Wednesday.

In morning trade, the banking giant’s shares are up 6% to a record high of $47.96.

NAB shares climb on update

Investors have been buying the big four bank’s shares after it delivered a strong first-quarter trading update.

According to the release, for the December 2025 quarter, NAB reported cash earnings of $2.02 billion. This is up 15% compared to the average quarterly result in the second half of FY 2025.

The bank’s statutory net profit came in at $2.21 billion and its underlying profit rose 12%, supported by a 6% lift in net operating income and lower credit impairment charges.

Net interest income increased 3% over the prior half average, while total net operating income rose 6%. Excluding Markets & Treasury income, revenue grew 4%, reflecting volume growth, higher fees and commissions, and lower customer remediation costs.

Another positive was that NAB’s net interest margin edged up 2 basis points to 1.80% for the quarter. Excluding Markets & Treasury and liquid assets, margins were broadly stable, with improved deposit outcomes offsetting ongoing lending competition.

In addition, it revealed that its expenses were broadly flat over the quarter, as higher technology and personnel costs were balanced by productivity benefits and lower remediation and restructuring expenses.

Lending and deposits growth

NAB’s business lending continued to be a standout performer. Australian business lending rose 2% in the quarter, including 3% growth in Business & Private Banking.

Housing lending also strengthened, growing 1.1 times system (excluding Advantedge run-off).

Customer deposits increased 1% over the quarter to $667.5 billion, with solid growth in transaction accounts.

Asset quality improves

Another highlight was that the bank’s asset quality showed further signs of resilience.

Its credit impairment charge was $170 million for the quarter, and the ratio of non-performing exposures to gross loans and acceptances fell 8 basis points to 1.47%.

Provision coverage remains strong, with the collective provision to credit risk-weighted assets ratio at 1.31%.

Strong start to FY 2026

NAB’s CEO, Andrew Irvine, was pleased with the bank’s start to the year. He said:

We have started FY26 strongly. Underlying profit rose 12% compared with the 2H25 quarterly average, driven by increases across each of our customer facing divisions and a supportive Australian economic environment. Pleasingly, asset quality outcomes also improved over 1Q26 and we have maintained appropriate balance sheet settings.

Disciplined execution of our strategy has delivered further progress this quarter across our key priorities of growing business banking, driving deposit growth and strengthening proprietary home lending. Australian business lending rose 2% including 3% growth from Business & Private Banking (B&PB), with market share gains in SME and total business lending. Australian home lending grew 1.1x system excluding Advantedge run-off, with drawdowns via proprietary channels improving from 41% in 2H25 to 46% in 1Q26.

Speaking about its outlook, Irvine added:

We continue to target productivity savings of more than $450 million for FY26 and for FY26 operating expense growth to be less than FY25 growth of 4.6%. NAB is well placed to manage our bank for the long term and to support our customers, while delivering sustainable growth and returns for shareholders.

The post NAB shares race to record high on strong Q1 update appeared first on The Motley Fool Australia.

More reading

• National Australia Bank posts strong first quarter FY26 earnings
• 5 things to watch on the ASX 200 on Wednesday
• 3 ASX ETFs for investors chasing yield and growth
• What’s going on with ASX bank stocks this week?
• Buy, hold, sell: Telstra, TechnologyOne, NAB shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Superloop Ltd (ASX: SLC) have jumped more than 10% after the company reported a return to profit, a major acquisition, and a guidance upgrade.

The broadband provider said in a statement to the ASX that revenue for the half had jumped 23% to $317.6 million, “driven by strong customer and market share gains in consumer and wholesale”.

Back in the black

Underlying EBITDA jumped 46% to $55.8 million while net profit was $5.1 million compared with a loss of $7.8 million for the same period last year.

The company added 74,000 new customers for the half, a gain of 21%, with total customer numbers now sitting at 805,000.

Superloop also upgraded its underlying EBITDA outlook for the full year to $112 to $120 million, up from $109 to $117 million.

Managing Director Paul Tyler said regarding the results:

Superloop has delivered fantastic results for the first of half of FY26, including record organic Consumer customer growth, an increase in revenue of 23%, and an increase of 46% in underlying EBITDA to $55.8 million, leading to net profit after tax of $5.1 million for the half. Both the Consumer segment and the Wholesale segment achieved strong revenue growth, 29% and 28% respectively. Consumer added a record 49,000 customers during the half, and Wholesale experienced accelerated growth in the last two months, setting the business up for a strong second half.    

Major deal announced

In a separate statement to the ASX, Superloop said it had struck a deal to acquire Lightning Broadband for $165 million in cash.

The deal would bring with it Lightning Broadband’s fibre to the premises network of 24,000 built lots nationally and a further 30,000 contracted lots.

Supleroop said Lightning was also the default last mile service provider across more than 400 multi and single-dwelling units nationally.

Superloop said it expected synergies of $5 million to be achieved within three years, and the buyout was priced at 15 times Lightning’s estimated 2027 earnings.

Mr Tyler said the deal was a crucial step in building out Superloop’s “smart communities” asset base.

He added:

The combination of Lightning Broadband with Superloop’s existing Smart Communities portfolio, including the acquisition of Frontier Networks during the first half, creates a serious challenger to incumbents. With a combined built and contracted book of approximately 170,000 lots, we have clear visibility of long-term sustainable growth.” “Lightning Broadband’s strength in multi-dwelling units complements our expertise in broadacre, build-to-rent and Purpose-Built Student Accommodation. Our existing fibre network, including 2,500km of metropolitan footprint, enables direct connection to Lightning Broadband buildings, driving cost synergies and increasing network resilience.

The deal is expected to be completed in the fourth quarter of FY26.

Superloop shares rallied hard on the news, hitting a high of $2.86 before settling back to be 12.8% higher at $2.73.

Supleroop was valued at $1.25 billion at the close of trade on Tuesday.

The post Superloop shares rocket on major acquisition and strong profits appeared first on The Motley Fool Australia.

More reading

• Superloop flags $4 million margin risk from AGL telecom business exit
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Forget Telstra shares, I’d buy this ASX telco stock instead

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Fletcher Building Ltd (ASX: FBU) share price is in focus after the Kiwi building products and materials group posted half-year revenue of $2.87 billion and an improved net operating cash flow of $156 million.

What did Fletcher Building report?

• Revenue from continuing operations: $2,866 million, largely steady on the prior period
• EBIT before Significant Items: $145 million (5.1% margin, matching last year)
• Net profit after tax from continuing operations: $45 million (up from a $88 million loss last year)
• Net loss after tax including discontinued operations: $11 million
• Net cash from operating activities: $156 million (up from $87 million)
• Net debt: $1,164 million, below internal targets
• No interim dividend declared

What else do investors need to know?

Fletcher Building is in the midst of shrinking and reshaping its business, including a major step: the $315.6 million sale of its Construction division, expected to complete in the first quarter of FY27. This is a significant milestone in shifting the company’s focus to building product manufacturing and distribution.

Ongoing portfolio simplification, tight cost control, and better operational execution kept results steady, despite subdued market conditions across New Zealand and Australia. The business also maintained around $800 million in available liquidity, supporting its financial flexibility through choppy times.

The half-year brought additional provisions and legal costs for legacy construction and Australian plumbing matters, but disciplined capital management led to lower net debt and improved working capital performance.

What did Fletcher Building management say?

Managing Director and CEO Andrew Reding commented:

The first half of FY26 was another demanding period for the building industry, with subdued markets across New Zealand and Australia. Conditions differed between a particularly weak first quarter and a more stable second quarter. In that environment, our core manufacturing businesses held up well, supported by disciplined cost control and better operational execution. Just as importantly, we continued to make real progress on our strategy around simplifying the Group, strengthening the balance sheet, and embedding a decentralised operating model that improves accountability and performance.

What’s next for Fletcher Building?

Looking ahead, Fletcher expects market conditions in New Zealand to remain soft through the rest of FY26, with no strong recovery likely before calendar 2027. Australia is seeing early signs of market stabilisation, but conditions remain patchy.

The company believes actions already taken—especially around cost, portfolio simplification, and capital discipline—should support better performance as markets recover. There’s no interim dividend for this half, with payout plans on hold until debt reduction targets are reached. The focus for now remains on completing asset sales, progressing strategy, and managing volatility.

Fletcher Building share price snapshot

Over the past 12 months, Fletcher Building shares have risen 4%, slightly trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Fletcher Building shares steady on half-year results and construction exit appeared first on The Motley Fool Australia.

More reading

• Nickel Industries lifts 2026 quota, driving stronger outlook and margins
• Magellan Financial Group grows dividend as steady 1H26 results land
• Santos delivers strong 2025 full year results and higher dividends
• Vicinity Centres FY26 earnings: Profit jumps, premium assets drive growth
• TechnologyOne upgrades earnings guidance on AI and SaaS+ momentum

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Nickel Industries Inc (ASX: NIC) share price is in focus after the company received a substantial 60% increase in its 2026 RKAB nickel ore sales quota, now set at 14.3 million wet metric tonnes (wmt). January 2026 also saw an estimated Adjusted EBITDA from Operations of around US$50 million, boosted by higher nickel prices.

What did Nickel Industries report?

• 2026 RKAB sales quota increased to 14.3 million wmt (up from 9.0 million wmt)
• ~60% quota increase, significantly above peer group
• January 2026 Adjusted EBITDA from Operations of ~US$50 million
• Nickel pig iron (NPI) margins from RKEF operations up 150% to ~US$2,800/t in January
• ENC HPAL margins exceeded US$10,000/t in January
• 2025 NPI production base of 124,966 Ni tonnes

What else do investors need to know?

The increased RKAB quota means Nickel Industries can continue to supply up to 6.0 million wmt of saprolite ore to its rotary kiln electric furnace (RKEF) operations and meet the 8.3 million wmt demand for its ENC HPAL limonite ore in 2026. This positions the company to maintain stable production while supporting ongoing ramp-up at the new ENC project.

Unlike many industry peers, which reportedly received less than 30% of their requested RKAB quotas, Nickel Industries’ strong environmental, social, and governance (ESG) credentials were credited for the substantial allocation. The company also plans to apply for further quota increases as 2026 progresses, especially after commissioning the ENC project.

What’s next for Nickel Industries?

Nickel Industries will submit further documentation for the 2026 RKAB approval and expects to apply for additional quota increases later in the year. The company is also focused on ramping up the new ENC HPAL project to its full annual capacity of 72,000 tonnes of nickel, aiming to diversify its nickel portfolio and reduce carbon emissions.

With expectations of higher nickel and NPI prices continuing into the year, management indicates the company is highly leveraged to market improvements, with increased EBITDA expected if price trends hold.

Nickel Industries share price snapshot

Over the past 12 months, Nickel Industries shares have risen 30%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Nickel Industries lifts 2026 quota, driving stronger outlook and margins appeared first on The Motley Fool Australia.

More reading

• Fletcher Building shares steady on half-year results and construction exit
• Magellan Financial Group grows dividend as steady 1H26 results land
• Santos delivers strong 2025 full year results and higher dividends
• Vicinity Centres FY26 earnings: Profit jumps, premium assets drive growth
• TechnologyOne upgrades earnings guidance on AI and SaaS+ momentum

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Reliance Worldwide Corporation Ltd (ASX: RWC), in its own words, had a “challenging first half”, reporting this week that both sales and profits had fallen.

But that has, at least in the eyes of the team at Macquarie, created a buying opportunity for a company they see as fundamentally sound.

So let’s have a look at the first-half results.

Falls across the board

Reliance said earlier this week that net sales fell 4.6% to US$645.4 million, while net profit fell 34.9% to US$34.7 million.

The plumbing supplies company also announced an interim dividend of US2 cents, down from US2.5 cents, and a buyback of US$15.3 million, which it said would be the equivalent of another US2 cents per share in value.

A lot of the negative impact during the half, the company said, was caused by US tariffs.

The company said:

The expected full year net impact of tariffs in FY26 is in the range of US$25 million to US$30 million, with the impact weighted to the first half of FY26. The benefits from the transfer of product sourcing away from China to lower tariff countries, coupled with price adjustments and cost reduction measures, will continue to flow through in the second half of FY26.

The company’s Chief Executive, Heath Sharp, said it was a difficult start to the year.

He added:

The first half has been particularly challenging as we have dealt with the twin impacts of US tariffs and weak end markets. However, we are really pleased with the progress we have made with our key strategic initiatives, which have further strengthened the business and mean we are well placed to benefit from an upturn in volumes. While residential remodelling and new construction markets remained subdued, we have made significant progress on a number of strategic initiatives. We commissioned our new assembly facility in Poland and finalised plans for a new facility in Mexico which will support activity in the Americas and lower the impact of associated tariffs. During the half we also launched new product ranges with key distributors in Germany, France and Italy, while SharkBite Max was launched nationwide across Australia.

The company said it expected trading conditions for the second half of the year to be “broadly consistent” with the first half.

Shares looking cheap

The team at Macquarie have looked at the result and believes there’s room for significant share price recovery.

They said the company looks well-positioned for volume recovery alongside improvements in pricing, “so we believe any indication of volume recovery will be positive for the stock”.

The Macquarie team added:

This was a disappointing result, with known issues lingering longer than expected. At its core, Reliance is still executing well in a tough context. We believe valuation remains attractive given the leverage to an improvement in the volume outlook.

Macquarie has a price target of $4.75 on Reliance shares compared with $3.50 currently. If the price target were achieved, it would represent a total shareholder return of 37% including dividends.

The post After being sold down on weak results, one broker thinks Reliance Worldwide is a good buy appeared first on The Motley Fool Australia.

More reading

• Why Reliance, Santana Minerals, Sims, and Treasury Wine shares are falling today
• Reliance Worldwide half-year earnings: profit falls, dividend steady

Motley Fool contributor Cameron England 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Magellan Financial Group Ltd (ASX: MFG) share price is in focus today after the company delivered a steady interim result, with operating profit holding firm at $83.1 million and a 50% lift in fully franked dividends to 39.5 cents per share.

What did Magellan Financial Group report?

• Assets under management (AUM) rose 3% to $39.9 billion at 31 December 2025
• Operating earnings per share increased 5% to 48.6 cents
• Operating profit was $83.1 million, unchanged from 1H25
• Strategic partnership income surged 109% to $25.7 million
• Investment management revenue fell 17% to $106.9 million
• Interim dividend jumped 50% to 39.5 cents per share, fully franked

What else do investors need to know?

Magellan maintained a strong capital position at the end of December, holding $504 million in liquid assets and no debt. Share buy-backs continued, with $38.4 million returned to shareholders during the half.

Net flows were positive for the institutional segment thanks to inflows into Airlie Australian Equities and Global Listed Infrastructure. Meanwhile, retail outflows stabilised while new client and product wins, especially through Vinva, added diversity to the income stream.

Recent investments in leadership, technology and governance are aimed at supporting scalable, operationally robust growth across Magellan Investment Partners, which also completed a rebrand in the half.

What’s next for Magellan Financial Group?

Looking forward, Magellan plans to expand its global distribution, especially in Asia Pacific, North America, and Europe, while continuing to focus on performance and operational efficiency. Further innovation and investment in automation and AI are on the agenda, along with ongoing development of strategic partnerships.

The company remains committed to returning capital to shareholders through dividends and share buy-backs, while carefully assessing future growth and investment opportunities. Management has highlighted sustaining and growing institutional client relationships as a key priority for the second half.

Magellan Financial Group share price snapshot

Over the pat 12 months, Magellan Financial Group shares have declined 19%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Magellan Financial Group grows dividend as steady 1H26 results land appeared first on The Motley Fool Australia.

More reading

• Fletcher Building shares steady on half-year results and construction exit
• Nickel Industries lifts 2026 quota, driving stronger outlook and margins
• Santos delivers strong 2025 full year results and higher dividends
• Vicinity Centres FY26 earnings: Profit jumps, premium assets drive growth
• TechnologyOne upgrades earnings guidance on AI and SaaS+ momentum

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Shares in Nib Holdings Ltd (ASX: NHF) are higher in early morning trade after the health insurance provider released an update following market close yesterday.

At the time of writing, the Nib share price is up 3.45% to $6.60.

Here is what investors need to know.

Premium increases confirmed for 2026

In an ASX announcement, Nib confirmed that its private health insurance premiums will rise by an average of 5.47%.

The increase follows approval from the Federal Minister for Health and Aged Care.

Management said the changes reflect ongoing cost pressures across the healthcare system. These include higher hospital and medical costs, increased use of services, and broader inflationary impacts.

The company noted that more than half of its policyholders will see increases of $3.80 per week or less.

Chief Executive Officer Ed Close said Nib remains focused on affordability and value, while continuing to manage rising claims costs.

During FY25, the group paid $2.3 billion in claims, an increase of almost 9% on the prior year. The company also recorded more than 400,000 hospital admissions and 4.3 million visits to medical providers.

Momentum and key price levels

Looking at the chart, Nib shares have trended lower since late 2025 after peaking above $8 during the year.

The stock closed at $6.38 on Tuesday and is hovering around $6.60 in early trade. Over the past 12 months, it has traded between $5.82 and $8.26.

On the daily chart, Nib is trading near the lower end of that range. The price is closer to the lower Bollinger Band, suggesting softer short-term momentum.

The relative strength index (RSI) is around 40, placing the stock near oversold territory but not at extreme levels. This suggests selling pressure may be easing, though momentum remains weak.

The $5.80 to $6 zone has acted as support over the past year. On the upside, resistance appears near $7, with further resistance around $7.50 based on prior trading activity.

With the shares closer to support than their 12-month high, the next move may hinge on whether support holds.

What investors will be watching next

Premium adjustments are a normal part of the private health insurance cycle and are closely linked to claims trends and healthcare cost inflation.

While higher premiums can support revenue growth, investors will also be monitoring policyholder retention and membership growth in the months ahead.

Nib is scheduled to release its half-year results on Monday, 23 February. The update will provide further detail on margins, claims trends, and management’s outlook for the remainder of the year.

The post Why Nib shares are on the move after its latest update appeared first on The Motley Fool Australia.

More reading

• Why Nib shares are edging higher after today’s update

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

The Santos Ltd (ASX: STO) share price is in focus today after the energy company reported strong base business performance for the full year 2025, delivering $1.8 billion in free cash flow and declaring a final dividend of US 10.3 cents per share.

What did Santos report?

• Sales revenue of $4.9 billion from 93.5 million barrels of oil equivalent (mmboe) in sales volumes
• Underlying net profit after tax (NPAT) of $898 million
• Free cash flow from operations of $1.8 billion
• EBITDAX of $3.4 billion
• Final dividend of US 10.3 cents per share (total 2025 dividends: US 23.7 cents per share, representing $770 million)
• Unit production costs of $6.78 per boe, the lowest in a decade (excluding Bayu Undan)

What else do investors need to know?

Santos achieved record personal safety performance in 2025 and reached its 2030 emissions reduction target five years early, mainly due to its Moomba carbon capture and storage (CCS) project. The company remains in a solid financial position, with gearing at 21.5% excluding leases and strong liquidity of $4.3 billion.

Operationally, Santos delivered high reliability across its key assets, commenced production at Barossa and Darwin LNG earlier than planned and within budget, and continued disciplined cost control with the best unit production costs in ten years.

What’s next for Santos?

Santos is targeting further growth with the ramp up of Pikka phase 1 expected to deliver first oil by late Q1 2026 and reach full output in Q2. The company has also indicated a head count reduction of around 10% to rightsize the business as major projects become part of the base.

Guidance for 2026 is unchanged, with production and sales volumes expected in the range of 101 to 111 mmboe, unit production costs of $6.95 to $7.45 per boe, and total capital expenditure of approximately $1.95 to $2.15 billion. Santos is also pursuing new growth and decarbonisation opportunities to further strengthen its portfolio.

Santos share price snapshot

Over the past 12 months, Santos shares have declined 3%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Santos delivers strong 2025 full year results and higher dividends appeared first on The Motley Fool Australia.

More reading

• Fletcher Building shares steady on half-year results and construction exit
• Nickel Industries lifts 2026 quota, driving stronger outlook and margins
• Magellan Financial Group grows dividend as steady 1H26 results land
• Vicinity Centres FY26 earnings: Profit jumps, premium assets drive growth
• TechnologyOne upgrades earnings guidance on AI and SaaS+ momentum

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Vicinity Centres (ASX: VCX) share price is in focus after the company posted a $805.6 million statutory net profit for 1H FY26, up 63.5% from the prior period, with a 4.8% uplift in net tangible assets per security.

What did Vicinity Centres report?

• Statutory net profit after tax: $805.6 million (1H FY25: $492.6m)
• Funds from operations (FFO): $351.0 million, up 2.0%
• Distribution per security: 6.20 cents, up 4.2%
• Comparable net property income (NPI) growth: +3.7%
• Net tangible assets (NTA) per security: $2.52, up 4.8%
• Portfolio occupancy: 99.6%

What else do investors need to know?

Vicinity Centres continued its strategy of shifting towards premium retail assets, with premium assets now making up 66% of the portfolio’s value. Key moves included securing the remaining 75% interest in Brisbane’s Uptown centre for $212 million, funded by divestments of non-strategic assets at a blended premium to book value.

Development plans are progressing, including the successful Stage 1 opening of Chatswood Chase and ongoing projects at Chadstone and Galleria. Strong leasing activity saw portfolio occupancy reach a record 99.6%, and leasing spreads move up to 4.6%, supporting future rent growth.

What’s next for Vicinity Centres?

The group expects full-year FFO and AFFO to be at the top end of its guidance. Management is targeting continued investment in premium assets, with around $400 million allocated to capital expenditure in FY26 and a focus on mixed-use development opportunities. Comparable NPI growth is now expected to be around 3.5%, with development-related rent losses factored into guidance.

Vicinity’s disciplined capital management aims to maintain flexibility for further investment, while its latest acquisitions and developments seek to boost income growth and portfolio value.

Vicinity Centres share price snapshot

Over the past 12 months, Vicinity Centres shares have risen 14%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Vicinity Centres FY26 earnings: Profit jumps, premium assets drive growth appeared first on The Motley Fool Australia.

More reading

• Fletcher Building shares steady on half-year results and construction exit
• Nickel Industries lifts 2026 quota, driving stronger outlook and margins
• Magellan Financial Group grows dividend as steady 1H26 results land
• Santos delivers strong 2025 full year results and higher dividends
• TechnologyOne upgrades earnings guidance on AI and SaaS+ momentum

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Macquarie Group Ltd (ASX: MQG) share price has been on the move this month as the global investment bank reported its FY26 third-quarter update.

Macquarie’s earnings result is influenced by four different divisions – its banking and financial services (BFS) segment, Macquarie Asset Management (MAM), investment banking (Macquarie Capital) and the commodities and global markets (CGM) segment.

The ASX financial share reported that in the three months to December 2025, MAM’s net profit was up “substantially”, BFS’ net profit rose slightly, CGM’s net profit rose “substantially” and Macquarie Capital’s net profit grew “substantially”.

Is the Macquarie share price attractive?

Ultimately, UBS thinks the answer is yes – it has a buy rating on the business, with a price target of $235.

A price target is where analysts think the share price of a business will be in 12 months from the time of the investment call. Therefore, investors think the business could rise by 7% within a year.

UBS said that the third quarter update appeared “satisfactory overall”, with improved guidance for CGM, where income is now expected to increase rather than remain flat. However, this is partially offset by a “higher-than-anticipated tax rate” for FY26, which suggests an additional tax expense of around $250 million compared to UBS estimates, equating to an impact of around 5.5% on projected cash net profit.

The broker then analysed the commentary on the ASX financial share’s divisions:

Commentary around the divisional performance in 3Q26 reads positively, in our view. Mkts facing businesses’ (MAM & Mac Cap) result was substantially up on pcp [prior corresponding period] (25%+). CGM commentary notes improved performances from Asset Finance and a stronger performance from Commodities compared to a subdued pcp, primarily due to increased contributions from North American Power, Gas and Emissions, and Resources.

Higher opex [operating expenditure] from investments in the CGM platform is continuing. Mac Cap substantially up on asset realisations and private credit portfolio. BFS continues to grow its deposit and lending franchise well above market, albeit Macquarie calling out mkt and portfolio mix continuing to drive NIM lower, likely offset by further operating leverage coming through.

MAM (ex NA [North America] & Europe public mkts business) benefiting from strong performance fees, which is likely to continue.

Expectations for FY26

UBS noted that MAM’s base fees are expected to be “broadly in line”, though net other operating income is expected to be up significantly.

BFS is expected to see ongoing growth in the loan portfolio and deposit profits in FY26.

Macquarie Capital’s transaction activity is expected to be “in-line”. The private credit portfolio and FY26 second-half asset realisations are expected to support investment-related income to be “broadly in line”.

In CGM, commodities income is expected to be up, while volatility may create opportunities, according to UBS.

The Macquarie share price is valued at 18.4x FY26’s estimated earnings, at the time of writing, based on UBS’ forecast of earnings per share (EPS) of $11.85 for the 2026 financial year.

The post Do experts think the Macquarie share price is a buy? appeared first on The Motley Fool Australia.

More reading

• Where to invest $10,000 in ASX shares right now
• Qube Holdings board backs $11.7bn Macquarie takeover at 27.8% premium
• How to make a $50,000 passive income from ASX shares
• 3 blue-chip ASX 200 shares I would buy and hold
• How I would build an income portfolio that lasts a lifetime

Motley Fool contributor Tristan Harrison 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.