Shares in Elevra Lithium Ltd (ASX: ELV) hit a new 12-month high after the company announced progress on expanding production at its Canadian lithium mine.

The company said in a statement to the ASX that it had further refined its North America Lithium (NAL) expansion program and had “identified a pathway to stage permitting, construction and capital investment to fast-track additional production with lower unit operating costs”.

Staged process to boost output

The company said it had previously outlined an expansion program which would increase spodumene concentrate production to 315,000 tonnes per year, with construction to be completed by the end of FY29.

The company said further:

The critical path constraint on this schedule was permitting. As such, recent efforts have focussed on determining steps and an approach to reduce this constraint.

The company said it had now identified a project development sequence which provided a shorter timeframe to increased production, and added:

The additional new permitting information, combined with existing permits, provides a pathway to stage the expansion of production volumes at NAL in a disciplined, agile and more time efficient manner.

The company said a series of “debottlenecking” steps would be undertaken, which would reduce the overall timeframe and would be staged over time, reducing the initial upfront capital requirements.

The first step was expected to result in an initial 15% to 20% increase in concentrate production, starting in calendar year 2027.

Downstream milling, flotation and filtration capacity at the mine would then be expanded, bringing the production rate up to 315,000 tonnes per year, with that rate expected to start in early calendar 2028.

The company said:

This staged development strategy is anticipated to bring forward incremental production by approximately two years compared with previous plans, while also spreading capital expenditure over a longer period. Given the low risk, brownfield nature of the proposed expansion, the company plans to provide an updated scoping study in the first part of Q2 CY26. In conjunction with updating the scoping study, the company plans to move directly to detailed engineering to advance the respective debottlenecking steps.

Elevra Managing Director Lucas Dow said the company had taken a disciplined and pragmatic approach to accelerating production at NAL, “and the result is a materially improved development pathway”.

He added:

By leveraging new permitting information received since the scoping study, together with permits already in place, we have identified a staged expansion sequence that removes permitting from the critical path and brings forward incremental production in a low-risk, brownfields setting, while maintaining a clear pathway to 315ktpa of spodumene concentrate.

Elevra Lithium shares hit a new 12-month high of $9.09 on the news before settling back to be 1.5% higher at $8.81.

The company was valued at $1.5 billion at the close of trade on Friday.

The post This lithium company has hit a new 12-month high on expansion news appeared first on The Motley Fool Australia.

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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.

When I think about a genuine buy-and-hold-forever portfolio, I want simplicity, diversification, and exposure to long-term global growth. I am not trying to chase themes or time markets. I want exchange-traded funds (ETFs) that I can own through different cycles without constantly second-guessing the decision.

If I had to narrow it down to just two ASX ETFs for 2026 and beyond, these would be my choices.

iShares S&P 500 ETF (ASX: IVV)

The iShares S&P 500 ETF would be the cornerstone.

It provides access to 500 of the largest stocks in the United States. These businesses dominate global industries ranging from technology and healthcare to consumer goods and financial services. Many generate significant earnings outside the US, which adds an extra layer of diversification.

What I like about the iShares S&P 500 ETF is its ability to evolve over time. The index naturally removes stocks that fall behind and replaces them with those that become more relevant. That built-in renewal is a powerful advantage for long-term investors.

If I am holding something forever, I want exposure to innovation, productivity, and the world’s most competitive businesses. The iShares S&P 500 ETF delivers that in a simple, low-cost way.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

While the iShares S&P 500 ETF offers deep exposure to the US market, I do not want my entire portfolio tied to one country. That is where the Vanguard MSCI Index International Shares ETF comes in.

This ETF provides broad exposure to developed markets outside Australia, including the United States, Europe, Japan, and other major economies. It holds over a thousand stocks across sectors and regions, giving investors a truly global footprint.

I like the Vanguard MSCI Index International Shares ETF because it reduces reliance on any single market or sector. It also complements the iShares S&P 500 ETF well, adding diversification across currencies, geographies, and economic drivers.

For investors who want a simple way to own global equities without constantly adjusting allocations, this ASX ETF delivers it in spades.

Why these two ETFs work together

Held together, these ETFs offer exposure to the US market through the iShares S&P 500 ETF, broad global diversification through the Vanguard MSCI Index International Shares ETF, participation in long-term global economic growth, and a structure that can be held through multiple market cycles.

I am not suggesting these ETFs will outperform every year. But for investors focused on long-term wealth creation rather than short-term trades, I think they form a strong foundation.

If I were building a portfolio in 2026 with a forever mindset, these are two ASX ETFs I would feel comfortable owning for decades.

The post 2 ASX ETFs I would buy in 2026 and hold forever appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino 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 iShares S&P 500 ETF. The Motley Fool Australia has recommended Vanguard Msci Index International Shares ETF and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Imricor Medical Systems Inc (ASX: IMR) surged to a new 12-month high after the company announced it had secured a key approval in the US.

Imricor shares traded as high as $1.99 on the news, up more than 25%, before settling back to be 16.5% higher at $1.84.

The biotechnology company said in its statement to the ASX that the US Food and Drug Administration (FDA) had granted clearance for its Vision-MR Diagnostic Catheter, which would allow it to be marketed in the US.

ASX biotech medical innovation

The catheter, the company said, is designed to be used under real-time magnetic resonance imaging (MRI) guidance, “and represents a key component of Imricor’s comprehensive platform of MRI-compatible electrophysiology (EP) devices”.

The company went on to say:

FDA clearance enables Imricor to commercially market the Vision-MR Diagnostic Catheter in the United States, the world’s largest electrophysiology market. This clearance is the first of what the Company expects will be multiple regulatory clearances and approvals this calendar year, as Imricor’s full MRI guided EP platform is progressively introduced to the market.

Imricor Chief Executive Officer Steve Wedan said it was a “tremendous milestone for the company” and added:

Most of us have worked at companies that have existing medical devices on the US market, and getting a new device on the market is always a big deal. But getting a company’s first device on the US market is an extraordinarily big deal. It’s an exciting achievement and a date to be noted and remembered.

ASX biotech product suite growing

The company, in its most recent quarterly report, said it had also submitted its NorthStar Mapping System – another real-time MRI product – for FDA approval, with that product already commercially launched in Europe following CE Mark approval.

Mr Wedan said at the time the company was entering the most exciting chapter in its 20-year history.

This was a milestone quarter for Imricor as we achieved parallel regulatory submissions in the US and launched NorthStar comedically in Europe. In Europe we are already seeing strong momentum following CE Mark approval of NorthStar … with growing demand from hospitals eager to perform cardia ablations in a radiation-free environment.

Imricor’s cash outflows during the September quarter were US$4.8 million, while the company’s total cash and short-term investments were worth US$45.7 million.

Total receipts for the quarter came in at US$124,000.

Imricor was valued at $503.9 million at the close of trade on Friday.

The post Which biotech company’s shares have rocketed to a new high on good news? appeared first on The Motley Fool Australia.

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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 market is charging higher today, with many ASX 300 shares recording gains.

But two that stand out from the rest with particularly strong gains on Monday are named below.

Here’s why these shares are making their shareholders smile today:

PWR Holdings Ltd (ASX: PWH)

The PWR share price is up 13% to a 52-week high of $9.86 on Monday.

Investors have been buying the advanced cooling products and solutions provider’s shares after it announced a US$9.1 million (~A$13.5 million) follow-on defence and aerospace contract. This will see it supply advanced cooling solutions for a US government project.

The ASX 300 share notes that this contract follows the ongoing successful delivery of the previous order announced a year ago. It believes it reinforces PWR’s position on this project as it progresses to full rate production.

The company highlights that delivery under this new contract is expected to occur predominantly in FY 2027.

It may not be the last. Management revealed that the project is scheduled to extend over multiple years. This is subject to forecasted demand for the platform, government funding, and PWR’s performance.

The company’s acting CEO, Matthew Bryson, said:

PWR announced the initial US$5.5 million order for this project in January 2025 and securing a follow-on order reflects the successful delivery of that first phase and demonstrates our ability to execute reliably and adapt to evolving program requirements on complex projects. Continued delivery on this platform supports PWR’s growing reputation as a leader in advanced cooling technology for Aerospace and Defence applications.

Regal Partners Ltd (ASX: RPL)

The Regal Partners share price is up 9% to $3.70. This has been driven by the release of the fund manager’s profit guidance for FY 2025 before the market open.

Management revealed that it expects to report normalised net profit after tax of $145 million. This will be an increase of 49% year on year from $97.5 million in FY 2024.

A key driver of this profit growth has been the strong performance of a range of investment strategies. This has underpinned second half performance fees of $130 million.

The ASX 300 share also advised that its funds under management (FUM) rose to approximately $20.8 billion at the end of December. This reflects net inflows for the December quarter of approximately $80 million, which takes total net inflows for calendar year 2025 to $1.5 billion.

The post Why these ASX 300 shares are jumping 9%+ today appeared first on The Motley Fool Australia.

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

Shares in Argosy Minerals Ltd (ASX: AGY) returned to their 12-month high on Monday after the company announced significant progress on supplying power to its Argentinian lithium project.

Argosy said in a statement to the ASX on Monday that the Salta Electricity Distribution Company (EDESA) had completed the detailed engineering and feasibility works on a medium voltage line to the company’s Rincon lithium project, with the line capable of supplying 40 megawatts of energy.

The company went on to say:

The next phase of works for the medium voltage line project comprises a competitive tender process to bid for the electric transmission line and associated transformer station construction works from reputable contractors. Provisional cost estimates and delivery schedules completed by EDESA will be further defined as part of this process. In parallel, the company is engaging with local renewable energy providers to establish Power Purchase Agreements (PPA’s) to ensure sustainable and cost-efficient energy supply to the Rincon project via the national power grid. Access to reliable, grid-based power is expected to reduce operational costs, strengthen project economics and minimise the need for costly on-site diesel power generation.

Argosy said securing access to national grid power was a critical milestone for the project and significantly derisked it, while also improving the project’s economic viability.

Feasibility works ongoing

Argosy Managing Director Jerko Zuvela said:

Completing the detailed engineering works for the medium voltage Line project and securing strategic access to national grid power marks a significant milestone for the development of our 12,000tpa Rincon lithium project and positive progress toward finalising the feasibility works. Completing the medium voltage line project will provide a major cost-saving advantage, given access to energy is the key barrier to entry for many lithium projects, where such infrastructure and access to grid power is lacking in the NW region of Argentina. Being only  about 8km from such critical energy infrastructure beneficially positions Argosy for sustained growth and success to ultimately develop and successfully commercialise our Rincon lithium project.

Argosy owns a 77.5% interest in the Rincon project and can earn up to 90%.

The company recently said in a statement to the ASX that the process design phase works for the project had been completed, and test work would be done to determine the optimal process for processing lithium at the project.

Argosy Minerals shares hit 13.5 cents on Monday morning, returning to their 12-month highs before settling back to be 4% higher at 13 cents.

Argosy was valued at $192.9 million at the close of trade on Friday.

The post Argosy Minerals’ lithium project ticks off key milestone appeared first on The Motley Fool Australia.

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• Light & Wonder shares leap 25% on $190 million legal breakthrough with Aristocrat Leisure

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.

Aristocrat Leisure Ltd (ASX: ALL) and Light & Wonder Inc (ASX: LNW) shares are both in the green on Monday.

Aristocrat Leisure shares are up 1.1% in morning trade, changing hands for $57.85.

But its Light & Wonder shares that are really on fire today. In earlier trade, shares in the S&P/ASX 200 Index (ASX: XJO) gaming technology company leapt 24.8%, trading for $193 each. At the time of writing, shares are swapping hands for $181.11 each, up 17.1%.

For some context, the ASX 200 is up 0.4% at this same time.

Here’s what’s grabbing ASX investor interest today.

Light & Wonder shares rocket on legal settlement

Investors are sending Light & Wonder shares surging following a joint announcement with Aristocrat Leisure, which informed the market that the two gaming companies have agreed to settle their legal disputes in Australia and the United States.

As you may be aware, Aristocrat took legal action after alleging that Light & Wonder used its trade secrets and copyrighted materials to develop Light & Wonder’s Dragon Train game as well as its Jewel of the Dragon game.

While the specifics of the agreement remain confidential, we do know that Light & Wonder agreed to pay US$127.5 million (around AU$190 million) to Aristocrat to settle the matter.

Light & Wonder shares are getting a big boost following the settlement, with the company acknowledging that it made use of some of Aristocrat’s maths information to develop both Dragon Train and Jewel of the Dragon.

The ASX 200 gaming company agreed to stop selling the two games around the world. It will also permanently destroy all documents relating to the appropriated maths information.

What did management say?

Commenting on the agreement sending Light & Wonder shares flying higher today, CEO Matt Wilson said, “Light & Wonder is pleased to resolve this matter and move forward. We are firmly committed to doing business the right way, respecting our competitors’ intellectual property rights while protecting our own rights.”

Wilson continued:

This matter arose when a former employee inappropriately used certain Aristocrat math without our knowledge and in direct violation of our policies. Upon discovery, we took immediate action and have since implemented strengthened processes aimed at preventing similar issues in the future.

This settlement protects the interests of our customers, employees, and shareholders, and allows us to continue our focus on developing and delivering the market-leading content our customers expect, without distraction or disruption.

“Aristocrat welcomes fair competition but will always robustly defend and enforce its intellectual property rights,” Aristocrat Leisure CEO Trevor Croker added. “As an ideas and innovation company our intellectual property is vital to our ongoing success.”

With today’s intraday moves factored in, the Light & Wonder share price is up 32.6% over 12 months.

The Aristocrat Leisure share price is down 18.2% over this same period.

The post Light & Wonder shares leap 25% on $190 million legal breakthrough with Aristocrat Leisure appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 Light & Wonder Inc. The Motley Fool Australia has recommended Light & Wonder Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Actively managed funds have fallen out of favour somewhat in recent years as investors have flocked to exchange-traded funds (ETFs), but if you know where to look, there are some great returns to be had in the managed fund sector.

Two of those that have been performing well are from Geoff Wilson’s Wilson Asset Management stable, with the $2.1 billion WAM Capital Ltd (ASX: WAM) a good starting place.

This managed fund has been around since 1999, and in recent years, one of the great things about it is its steady dividend payments.

Consistent returns

The fund has paid dividends every year since its formation and, in the past few years, has kept its final and interim dividends steady at 7.75 cents, franked to 60%.

Calculated at the current share price of $1.83, that’s a trailing dividend yield of 8.47%.

The fund recently put out an investment update, which indicated its investment portfolio performance since inception back in 1999 was 15.3%, compared with the All Ordinaries Index’s of 8.6% over the same period.

Some of WAM Capital’s top holdings include Life360 Inc (ASX: 360), A2 Milk Company Ltd (ASX: A2M), and Flight Centre Travel Group Ltd (ASX: FLT).

Recent dividend boost

Also from the Geoff Wilson stable is WAM Active Ltd (ASX: WAA), a much smaller fund with a value of $82.6 million.

WAM Active has also been a steady dividend payer and recently announced an increased interim dividend of 3.2 cents per share as well as a special dividend of 1 cent per share.

This brought the annualised interim dividend yield up to 6.5%, or 9.3% grossed up.

Mr Wilson said at the time that the six-month investment portfolio performance for the fund had been the best since its inception 18 years ago, allowing the fund to pay the increased dividends, which are still available for investors, given the ex-dividend dates for each are in May and June.

Deputy portfolio manager Shaun Weick said the fund had been positioning itself in precious and base metals “as we believe these companies are well-positioned for near-term outperformance as the US continues to reduce interest rates, global growth improves and the US dollar moves lower”.

Some of WAM Active’s top 20 holdings include Capstone Copper Corp (ASX: CSC), Zip Co Ltd (ASX: ZIP), and Alcoa Corporation (ASX: AAI).

The third fund, which is looking attractive from a trailing dividend yield perspective, is the Ophir High Conviction Fund (ASX: OPH), which is sitting on trailing returns worth 8.3%, unfranked.

Ophir’s dividends have been less predictable than those of the previous two funds, but its portfolio performance since inception in 2012 has been robust, at 14%, easily surpassing its benchmark target.

Some of Ophir’s top holdings include Megaport Ltd (ASX: MP1), ResMed Inc (ASX: RMD), and Infratil Ltd (ASX: IFT).

The post Looking for strong dividend yields? These three managed funds might fit the bill appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has positions in Life360 and Ophir Asset Management Pty – Ophir High Conviction Fund. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Megaport, and ResMed. The Motley Fool Australia has positions in and has recommended Life360 and ResMed. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Clinuvel Pharmaceuticals Ltd (ASX: CUV) shares are pushing higher on Monday.

At the time of writing, the ASX 300 stock is up 6.5% to $13.48.

What’s going on with this ASX 300 stock?

Investors have been buying the biotechnology company’s shares after it unveiled encouraging progress on a brand new drug delivery platform that could materially expand its long-term growth runway.

According to the release, Clinuvel has commenced dosing in a preclinical study of its controlled-release liquid injectable peptide platform, known as VLRX-L.

This marks the first time one of the ASX 300 stock’s next-generation delivery technologies has entered formal preclinical evaluation. This is a milestone that investors have clearly welcomed judging by its share price move on Monday.

What is VLRX-L?

The announcement reveals that VLRX-L has been designed to control the release of peptides, including Clinuvel’s melanocortin-based drugs, through a flexible liquid dose.

The current preclinical study is focused on assessing safety, release kinetics, and the reproducibility of drug delivery using in-vitro models. Results from the study are expected in the second half of 2026.

Importantly, this platform has been developed entirely in-house at Clinuvel’s Research, Development & Innovation Centre in Singapore. The VLRX-L program follows more than a decade of research into peptides, polymers, and controlled-release delivery systems. Management believes this highlights the depth of capability that the company has quietly been building behind the scenes.

The company’s Chief Scientific Officer, Dr Dennis Wright, described the early in-vitro data as encouraging and reproducible. He said:

Through extensive preliminary work and iterative innovation we have arrived at a VLRX-L candidate platform that has demonstrated encouraging, reproduceable results in-vitro. The platform now needs to be challenged in in-vivo models to understand how it may ultimately deliver therapies for patients.

If these initial results are successful in 2026, we will look at the optimal pathways to scale up and commercialise this technology, with a view to extensively expanding our pipeline with our own IP.

Speaking about the ASX 300 stock’s long term goal, Dr Wright said:

Long-term, the goal is to establish a suite of delivery platforms for melanocortins, and other peptides, which meet the diverse needs of a range of patient groups, addressing some of the challenges of technologies currently offered on the market. It is exciting that we can now start to unveil the work of our VALLAURIX team and our ambitions for the next generation of CLINUVEL’s products.

Clinuvel Pharmaceuticals shares are now up almost 20% since this time last year.

The post This ASX 300 stock is racing 6% higher on exciting news appeared first on The Motley Fool Australia.

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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.

S&P/ASX 300 Index (ASX: XKO) gold stock Black Cat Syndicate Ltd (ASX: BC8) is leaping higher today.

Black Cat shares closed on Friday trading for $1.405. In early morning trade on Monday, shares are changing hands for $1.475 apiece, up 5%.

For some context, the ASX 300 is up 0.2% at this same time.

With today’s moves factored in, the Black Cat share price is now up 97.3% since this time last year, racing ahead of the 6.20% returns delivered by the benchmark index over this same period.

Now, here’s what’s grabbing investor interest today.

ASX 300 gold stock lifts off on drilling update

The Black Cat share price is jumping higher after the company released an exploration update from its Kal East Gold Operation, located in Western Australia.

The ASX 300 gold stock highlighted that the large Fingals open pit – one of the long-term feed sources for Kal East – remains open in all directions and at depth. Management said that the mine life at Fingals is “only constrained by drilling”.

A recent grade control program, involving 167 holes for 8,960 metres, identified multiple high-grade zones at Fingals outside the existing resource but within the open pit.

The miner noted that Fingals currently has a probable open-pit ore reserve of 2,039kt at 1.7g/t Au for 113koz of gold.

Black Cat has already outlined plans for an initial underground operation after completion of the open-pit mining. With mining at Fingals accelerating, the Aussie gold miner expects the first ore to be fed into the Lakewood processing facility in March.

Atop the progress at Fingals, the ASX 300 gold stock also reported that mining at its Majestic underground project is “progressing well”, noting that first ore drives have been accessed and are in development.

Black Cat plans to commence grade control and extensional drilling at Majestic during the March quarter.

What did management say?

Commenting on the results helping boost the ASX 300 gold stock today, Black Cat managing director Gareth Solly said, “These Fingals drilling results emphasise the long-term potential of both the open pit and future underground mine.”

Solly added, “The high-grade results have already identified bonus ounces within the planned open pit with the potential for additional mineralisation from follow up drilling.”

Looking ahead, Solly said:

Mining activities at Fingals and Majestic are progressing well with the operations on track to provide all Ore to Lakewood from late March 2026 onwards. The study to expand Lakewood from 1.2mtpa to 1.5mtpa is also progressing to plan, as part of our more gold sooner strategy.

Importantly, these developments and expansions will continue to be funded entirely from operating cashflow, highlighting the strength of Black Cat’s operations and balance sheet.

The post Up 97% in a year, guess which ASX 300 gold stock is leaping higher again on Monday appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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.

Super Retail Group Ltd (ASX: SUL) shares are in the spotlight on Monday.

In morning trade, the ASX 200 stock is down 11% to $14.03.

Why is this ASX 200 stock crashing?

Investors have been selling the retail conglomerate’s shares this morning following the release of a trading update.

According to the release, like for like sales were up 2.5% on the prior corresponding period during the first half of FY 2026. This led to Super Retail’s total sales increasing 4.2% year on year to a record of $2.2 billion.

Management advised that this comprises Supercheap Auto revenue of $813 million, Rebel revenue of $741 million, BCF revenue of $520 million, and Macpac revenue of $122 million.

How are its businesses performing?

Commenting on the ASX 200 stock’s performance, group managing director and CEO, Paul Bradshaw, said:

Supercheap Auto delivered a solid first half result, with revenue growth accelerating in the second quarter and gross margin broadly in line with the prior comparison period.

The Rebel business also performed positively despite cycling strong sales in the prior corresponding period. Though, its sales growth came at the expense of margins. Bradshaw adds:

Rebel delivered credible like-for-like sales growth in the half, cycling a strong Christmas trading period from the prior year. Realised gross margins were lower due to higher levels of promotional activity. Store network activity was high in the period, with associated costs further weighing on profit before tax. A total of 7 store openings, 6 closures and 3 refurbishments/relocations were actioned in the period.

Things weren’t so positive for the BCF business, which underperformed expectations. Its managing director explained:

BCF did not match the strong level of sales from the prior year. Fishing and Marine categories were heavily impacted in the period by macro weather/environmental factors in Victoria and South Australia. BCF gross margins were broadly in line with the prior year.

Finally, the Macpac delivered strong sales growth but felt the impact of clearance activity on its margins. Bradshaw said:

Macpac continued to realise strong like-for-like sales momentum. Gross margins were impacted by clearance activity earlier in the half.

Profit guidance

In light of the above, the ASX 200 stock is guiding to a normalised profit before tax of $172 million to $175 million for the first half, subject to its audit review.

This is down from $186 million in the prior corresponding period and $206 million a year before that.

Paul Bradshaw concludes:

For the purpose of this trading update, normalised profit before tax does not include items considered unusual by their nature or size and or not being in the ordinary course of business. The Group had no drawn bank debt, and maintained a positive cash balance at the end of the first half.

I would like to thank all of our team members whose commitment and tireless efforts continue to deliver great experiences for our customers and a solid outcome for our shareholders. I look forward to providing further details on our first half performance at our interim results presentation on 26 February 2026.

The post Guess which ASX 200 stock is crashing 11% on trading update appeared first on The Motley Fool Australia.

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