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

Results for The a2 Milk Company came in slightly above guidance issued in April as CEO David Bortolussi hailed FY26 as “another year of strong execution”.

It reported revenue growth of 12 per cent, with all markets and categories in positive territory, including infant milk formula growth of 5 per cent in a flat Chinese market despite supply chain disruptions in the final quarter.

Market share gains in Australia and the US saw liquid milk growth of 22 per cent.

Group-wide revenue was up 12.4 per cent to just under $1.98 billion, with the uS delivering the biggest jump of 28.6 per cent.

Underlying net profit was up 7 per cent to $207.5 million.

“We delivered strong double-digit growth in English label infant milk formula led by a2 Platinum, with high growth inour recently launched a2 Genesis product and successful expansion into Vietnam,” Bortolussi said.

“While our China label infant milk formula performance was impacted by product availability issues late in the year, the key contributing factors have been resolved, and we are focused on executing our recovery plan.”

He said despite the impacts of supply chain disruption, the company is expecting mid single-digit per cent revenue growth and improved earnings this financial year.

Cautious shoppers are still spending but are increaingly chasing value and confining buying to key promtional events, says electronics giant JB Hi-Fi.

With the threat of even higher interest rates, pain at the petrol pump and stubborn inflation, boss Nick Wells said the company continued to see variability in trading.

“In an uncertain retail environment where customers are seeking value, our brands continued to resonate and our teams continued to execute to a high standard,” he said.

JB Hi-Fi reported a 4.8 per cent leap in sales for the full-year compared to FY25 to a record $11.1 billion, delivering an underlying net profit of $489.9m - up 2.9 per cent on a year earlier.

Underlying earning before interest and tax were up 3.8 per cent to $734.4m.

The company declared a final $1.27-a-share dividend, up 22c, taking its full-year payout to $3.37.

JB Hi-Fi Australia sales were up 4.4 per cent to $7.42b, with key growth categories computers, mobile phones, sitness, small appliances and IT.

But it noted sales growth in thelast quarter was impacted by supplier price rises and stock availability shortages in the technology categories, along with cycling new product releases in the prior year

Sales in New Zealand rocketed 26 per cent while The Good Guys delivered sales of $2.94b, with portable appliances, floorcare, cooking, refrigeration and audio products proving most popular.

But the start of the new financial year has raised some red flags, with comparible sale growth down 1.4 per cent at JB Hi-Fi Australia and The Good Guys down 1.7 per cent.

JB Hi-Fi NZ remained a standout, with growth of almost 21 per cent

Analysts are less bullish on BHP ahead of tomorrow’s full-year results, with buy recommendations for its stock falling to a record low.

Just four of the 30 brokers tracked by Bloomberg have buy ratings on shares of the world’s biggest miner. Firms including CLSA, Citigroup nd Morgans Financial have scrapped their bullish stances over the past year.

Citi has maintained a neutral view on the stock since at least October. Its rating is relative to sector peers, as it sees Glencore as better exposed to rallying copper prices, analysts led by Ephrem Ravi wrote in a note in June.

Earnings expectations have also tempered after BHP unveiled weaker copper production guidance last month.

The company said it expects output to fall to as low as 1.65 million tonnes in the fiscal year that started in July due to declining grades at South American mines.

“Analysts worry that shrinking volumes mean BHP can’t fully capture these record copper prices,” said David Tuckwell, chief investment officer at ETF Shares, adding the stock seems expensive.

The shares trade at around 17 times forward earnings, compared to a five-year average of roughly 11, Bloomberg-compiled data show. BHP has soared 35 per cent this year.

National Australia Bank’s profit climbed in the third quarter as lending to businesses across the country expanded.

Unaudited cash earnings came in at $1.83 billion in the three months to June 30.

Home loan applications were down 15 per cent in the third quarter.

Australian lenders are contending with a slowing housing market that’s expected to deepen and is threatening to eat further into profitability.

NAB chief executive Andrew Irvine said the combination of the impacts from the Middle East conflict, higher interest rates and recent tax changes are creating challenges for customers.

“Business credit growth has remained robust at this stage, but the Australian home lending market softened,” Irvine said.