Frontierby eninvs

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Market research & earnings analysis

Earnings breakdowns across markets: US, commodities, Kazakhstan, Uzbekistan, Indonesia, Mexico, the Philippines and the UAE. Refreshed every reporting season.

See also: stock screeners · global valuation map

US 2026-10-01
Altria: profit and EBITDA decline, but a 6.4% dividend yield holds the stock

On July 30, Altria Group reported second-quarter 2026 results. Revenue was essentially flat at **$6,111 million**, up just **0.1%** year on year, versus 3.2% growth in the prior qu…

US 2026-10-01
Charter Communications: revenue falls for a fourth straight quarter, but profit is propped up by debt extinguishment

On 24 July Charter Communications reported second-quarter 2026 results. Revenue fell 1.7% year-on-year to $13,526 million, adjusted EBITDA declined 4.3% to $5,449 million, while ne…

US 2026-10-01
JABIL INC: revenue up 11.8% but the market took off 10% — profit tripled while the stock fell

On September 30, JABIL INC reported results for the fourth quarter and the full fiscal year 2026 ended August 31. Quarterly revenue was **$10,616 million**, operating profit **$602…

Commodities 2026-10-01
KGHM Polska Miedz: profit up 8x, but the surge rests on the copper price, not on volumes

KGHM Polska Miedz released its Q2 2026 report on 30 July. Revenue rose 51.8% year on year to USD 3,488.9 mn, EBITDA jumped 216.8% to USD 1,010.9 mn, and net profit climbed 738.5% t…

Commodities 2026-10-01
CMOC Group: H1 2026 profit doubled, yet the market values the company below its own revenue

On 25 August CMOC Group released its results for the first half of 2026. Revenue reached **USD 19,730.8 million**, up 50.6% year on year, net profit rose 96.5% to **USD 2,355.1 mil…

Commodities 2026-10-01
Imperial Oil: profit more than doubled, but the market pays almost 11x EBITDA – above its own history

On 25 July Imperial Oil reported results for the second quarter of 2026. Revenue rose 46.0% year on year to USD 11,443.8 million, EBITDA – by 95.3% to USD 2,434.6 million, net prof…

Commodities 2026-10-01
Antofagasta: profit up 62% on record margin, but the stock already trades at nearly 30x earnings

Antofagasta reported results for the first half of 2026, ended 30 June. Revenue rose 17.9% year on year to USD 4,479.0 million, EBITDA – by 23.3% to USD 2,630.0 million, and net pr…

Commodities 2026-10-01
Holmen: revenue up 3.3% but profit and margin retreat to year-ago levels

Holmen reported second-quarter 2026 results. Revenue reached **$596.5 million**, up 3.3% year on year, but EBITDA fell 8.1% to **$111.3 million** and net profit declined 13.4% to *…

Commodities 2026-10-01
Ecopetrol: profit up 3.9x, but the quarter rests on the oil price, not on volumes

On 25 August Ecopetrol reported results for the second quarter of 2026. Revenue rose 56.8% year on year to USD 11,355.0 mn, EBITDA by 49.1% to USD 3,959.2 mn, and net profit by 287…

Commodities 2026-10-01
First Quantum Minerals: profit up 7.6x, but working capital absorbed the entire quarterly cash flow

First Quantum Minerals reported Q2 2026 results. Revenue rose 24.1% year on year to USD 1,522m, EBITDA jumped 56.3% to USD 619m, and net profit increased 7.6x to USD 136m. The EBIT…

Commodities 2026-10-01
Lundin Mining: revenue accelerated to +38.1%, but profit grows three times slower

Lundin Mining reported second-quarter 2026 results. Revenue rose 38.1% year on year to $1,212.7 million, EBITDA – by 75.3% to $677.0 million, while net profit grew only 28.1% to $2…

Commodities 2026-10-01
Tourmaline Oil: revenue accelerated to +4.2%, but EBITDA margin collapsed from 80.0% to 45.8%

Tourmaline Oil released its Q2 2026 results. Revenue rose 4.2% year-on-year to $1,077.6 million, accelerating from 2.5% in Q1. However, EBITDA fell 40.3% to $493.8 million and net …

Commodities 2026-10-01
OMV: revenue up 41.7%, but Q2 profit is nearly a third of Q1

On 25 August OMV released its Q2 2026 results. Revenue rose 41.7% year on year to USD 9.3 bn, EBITDA added 52.9% to USD 2.1 bn, and net profit increased 115.0% to USD 628.8 mn. How…

Commodities 2026-10-01
Whitecap Resources: profit nearly tripled, but revenue growth is slower than a quarter ago

On 25 August Whitecap Resources reported results for the second quarter of 2026. Revenue rose 85.5% year on year to USD 1,940.86 million, EBITDA – by 107.6% to USD 1,271.47 million…

Commodities 2026-10-01
YPF: Q2 profit up 24-fold, but a one-off effect drove almost all of the EBITDA gain

On August 13, YPF reported results for the second quarter of 2026. Revenue rose 41.7% year on year to $6,574 million, EBITDA jumped 596.5% to $2,699 million, and net profit surged …

Commodities 2026-10-01
International Petroleum: revenue up 20.8%, but profit and margin fell back to last year's levels

On 13 August International Petroleum released its Q2 2026 results. Revenue rose 20.8% year-on-year to USD 218.1 million, EBITDA fell 11.4% to USD 53.3 million, and net profit dropp…

Commodities 2026-10-01
Ivanhoe Mines: revenue up 57.7% but profit up only 12.9% as margin compressed

On August 29, Ivanhoe Mines released its second-quarter 2026 results. Revenue rose 57.7% year on year to $152.6 million, EBITDA jumped 107.2% to $76.6 million, but net profit incre…

Commodities 2026-10-01
Keyera: profit tripled, but the entire quarterly EBITDA gain was consumed by interest and capex

On 25 August Keyera released its results for the second quarter of 2026. Revenue rose 48.6% year on year to USD 1.73bn, EBITDA by 89.5% to USD 428.2m, and net profit by 142.0% to U…

Commodities 2026-10-01
IAMGOLD: profit nearly tripled, but free cash went into production growth

On August 13, IAMGOLD reported results for the second quarter of 2026. Revenue rose 47.5% year on year to $856.9 million, EBITDA by 75.4% to $488.1 million, and net profit by 192.9…

Commodities 2026-10-01
Capital Power: revenue up 66.9% but net loss persists on interest burden

Capital Power released Q2 2026 results. Revenue rose 66.9% year-on-year to $532.2 million, EBITDA surged 889.9% to $167.6 million, but net profit remained negative at -$31.6 millio…

Commodities 2026-10-01
Strathcona Resources: revenue up 57.6%, but EBITDA margin compressed to 37.9%

On 25 August, Strathcona Resources released its second-quarter 2026 results. Revenue rose 57.6% year on year to USD 1,134.2 million, EBITDA added 41.4% to USD 398.5 million, and ne…

Commodities 2026-10-01
Equinox Gold: quarterly profit rests on the gold price, not on volumes

Equinox Gold has reported results for the second quarter of 2026. Revenue came in at USD 769.8 million, EBITDA at USD 448.0 million and net profit at USD 230.6 million. The EBITDA …

Commodities 2026-10-01
Vista Energy: revenue doubled, but profit lagged it threefold

On August 25, Vista Energy released its results for the second quarter of 2026. Revenue grew 102.3% year on year to USD 1,234.9 million, EBITDA added 53.1% to USD 792.9 million, an…

Commodities 2026-10-01
Tamarack Valley Energy: profit up 2.4x as net debt turns into net cash

Tamarack Valley Energy reported second-quarter 2026 results. Revenue rose 45.4% year on year to USD 445.5 million, EBITDA grew 41.9% to USD 283.6 million, and net profit jumped 137…

Commodities 2026-10-01
West Fraser Timber: EBITDA back in the black, but net debt swung from -0.3 to 0.3 bn USD over the year

West Fraser Timber reported Q2 2026 results. Revenue came in at USD 1.43 bn, down 6.4% year on year, EBITDA returned to positive USD 53 mn after three consecutive quarters of negat…

Commodities 2026-10-01
Athabasca Oil: EBITDA up 17% but Q2 2026 revenue down 5.4%

On August 25, Athabasca Oil reported Q2 2026 results. Revenue fell 5.4% year-on-year to $246.4 million, while EBITDA rose 17.0% to $93.2 million and net profit increased 15.7% to $…

Commodities 2026-10-01
Peyto Exploration: revenue up 21.7% but EBITDA margin compressed to 80.4%

On August 25, Peyto Exploration reported Q2 2026 results. Revenue rose 21.7% year-on-year to $228.6 million, EBITDA added 11.2%, and net profit grew 20.3%. However, the EBITDA marg…

Commodities 2026-10-01
Ithaca Energy: revenue and EBITDA rose, but depreciation and interest eat into profit

On August 25, Ithaca Energy released its Q2 2026 results. Revenue reached **$811.1 million**, EBITDA – **$535.2 million**, net profit – **$59.7 million**. The EBITDA margin rose to…

Commodities 2026-10-01
Paramount Resources: profit up 16-fold, but the base effect did most of the work

Paramount Resources has reported results for the second quarter of 2026. Revenue reached **238.3 million**, EBITDA — **117.7 million**, net profit — **49.1 million**; year on year …

Commodities 2026-10-01
Baytex Energy: $126m profit on $460m revenue – the 55.7% margin rests on low costs, not price

Baytex Energy reported second-quarter 2026 results. Revenue came in at $460.27m, EBITDA at $256.4m and net profit at $125.77m. The EBITDA margin reached 55.7%, with a net margin of…

Commodities 2026-10-01
Crescent Energy: profit tripled, but net debt added $1.5bn over the year

Crescent Energy reported second-quarter 2026 results. Revenue rose 55.3% year on year to $1,394.95m, EBITDA by 149.3% to $938.99m, and net profit by 221.6% to $492.77m. The EBITDA …

Commodities 2026-10-01
Headwater Exploration: revenue jumped 63.3%, but the entire gain came from prices, not volumes

Headwater Exploration has reported its Q2 2026 results. Revenue rose 63.3% year on year to $171.1 million, EBITDA – by 70.3% to $99.7 million, net profit – by 123.4% to $61.4 milli…

Commodities 2026-10-01
Spartan Delta: revenue doubled, but profit rose only a quarter as margin normalised

Spartan Delta reported second-quarter 2026 results. Revenue rose 112.1% year on year to $137.8 million, EBITDA grew 43.8% to $80.7 million, and net profit increased 25.9% to $30.5 …

Commodities 2026-10-01
Cardinal Energy: profit up 4.4x, but half the quarter rests on commodity prices

Cardinal Energy reported second-quarter 2026 results. Revenue rose 80.3% year on year to USD 167.6 million, EBITDA by 157.8% to USD 93.5 million, and net profit by 338.4% to USD 49…

Commodities 2026-10-01
Birchcliff Energy: EBITDA up by half, but the quarterly profit stayed almost entirely in Q1

Birchcliff Energy has reported its results for the second quarter of 2026. Revenue came in at **$128.9 million**, up 4.1% year on year, EBITDA jumped 57.5% to **$65.9 million**, an…

Commodities 2026-10-01
Atalaya Mining: profit up 90%, but it is fed by the copper price, not volumes

On 25 August Atalaya Mining released its results for the second quarter of 2026. Revenue rose 20.9% year on year to USD 170.7 million, EBITDA by 58.3% to USD 93.6 million, and net …

Commodities 2026-10-01
Advantage Energy: revenue accelerated to +23.5%, but EBITDA and profit fell as margin returned from an anomalous 102% to 63%

Advantage Energy reported Q2 2026 results. Revenue rose **23.5%** year-on-year to **$147.0 million**, accelerating from a 2.4% decline in the prior quarter. However, EBITDA fell **…

Commodities 2026-10-01
Meren Energy: revenue tripled, but the quarter's profit rests on a one-off, not on production

On 25 August Meren Energy released its results for the second quarter of 2026. Revenue rose **183.8%** year on year to **196.7 million dollars**, EBITDA added 17.3% to **123.6 mill…

Commodities 2026-10-01
Amerigo Resources: revenue up 61.1%, but cash flow lagged profit

Amerigo Resources reported second-quarter 2026 results. Revenue rose 61.1% year on year to $120.305 million, EBITDA – by 115.6% to $35.139 million, and net profit – by 142.4% to $1…

Commodities 2026-10-01
Saturn Oil & Gas: revenue up by half, but EBITDA margin compressed from 88.9% to 67.4%

On August 25, Saturn Oil & Gas released its Q2 2026 results. Revenue rose 50.2% year-on-year to $261.3 million, EBITDA added 13.9% to $176.0 million, and net profit increased 13.1%…

Commodities 2026-10-01
Topaz Energy: revenue up 38.9% in the quarter, but 1.6x EBITDA leverage keeps valuation near its historical level

Topaz Energy reported second-quarter 2026 results. Revenue rose 38.9% year on year to $78.9 million, net profit added 22.9%, and EBITDA increased 12.5%. Growth accelerated from the…

Commodities 2026-10-01
Parex Resources: profit jumped ninefold, but almost all of it is paper

Parex Resources reported Q2 2026 results. Revenue rose 94.3% year-on-year to $468.9 million, EBITDA jumped 343.4% to $205.7 million, and net profit surged 804.6% to $444.3 million.…

Commodities 2026-10-01
Greenfire Resources: revenue up a quarter, but margin compressed 11 points and profit rests on one-offs

Greenfire Resources reported second-quarter 2026 results. Revenue rose 23.5% year on year to $129.0 million, EBITDA added just 0.5% to $63.6 million, and net profit increased 9.1% …

Commodities 2026-10-01
Obsidian Energy: profit tripled, but free cash flow went into rising debt

On August 25, Obsidian Energy released its Q2 2026 results. Revenue rose 43.0% year-on-year to $144.9 million, EBITDA — by 49.1% to $77.2 million, net profit — by 173.0% to $30.2 m…

Commodities 2026-10-01
PetroTal: EBITDA up 8.8% but net profit down 72.6% — the gap is cost structure, not one-offs

PetroTal reported results for the second quarter of 2026, ended 30 June. Revenue fell 9.3% year on year to USD 70.7 million, while EBITDA rose 8.8% to USD 47.6 million and net prof…

Commodities 2026-10-01
Harbour Energy: $388m profit on $4.3bn EBITDA – the gap absorbed by debt and depreciation

Harbour Energy reported first-half 2026 results. Revenue rose 23.4% year on year to $6,392m, EBITDA grew 20.8% to $4,307m, but net profit was only $388m at a 6.1% margin. Net debt …

Commodities 2026-10-01
Journey Energy: profit up 4.5x, but half the quarter came from price spread, not output

On August 25, Journey Energy reported results for the second quarter of 2026. Revenue rose 37.5% year on year to $46.5 million, EBITDA – by 95.5% to $25.8 million, net profit – by …

Commodities 2026-10-01
Acadian Timber: profit halved even as EBITDA rose – the gap is last year's one-offs

Acadian Timber has reported its second-quarter 2026 results. Revenue fell 15.4% year on year to $10.473 million, while EBITDA rose 9.2% to $4.126 million and net profit dropped 51.…

Commodities 2026-10-01
Karoon Energy: H1 profit fell 62.4%, but 0.66x EBITDA leverage and dividends keep the story

Karoon Energy reported results for the first half of 2026. Revenue came in at **$244.9 million**, net profit at **$26.7 million**, and operating cash flow at **$58.4 million**. Yea…

Commodities 2026-10-01
Glencore: first-half revenue up by nearly half, but it barely turns into profit or cash

Glencore's first-half 2026 report showed revenue of **$174.4 billion**, up **48.6%** year on year. Net profit, however, was only **$4.4 billion**, a net margin of **2.5%**. Operati…

KZ 2026-10-01
Mitsubishi UFJ Financial Group: Q2 profit up 48.2%, but net interest income barely moves

On August 25, Mitsubishi UFJ Financial Group released its results for the second quarter of 2026. Net profit for the reported period came in at **JPY 809,427 million**, up **48.2%*…

KZ 2026-10-01
Royal Bank of Canada: profit up 11.2%, but a 5.6% ROE does not justify 19x earnings

Royal Bank of Canada reported third-quarter 2026 results. Net profit came in at **CAD 6,022 million**, up **11.2%** year on year, while net interest income rose **9.1%** year on ye…

KZ 2026-10-01
Bank of Nova Scotia: profit up 18.8%, but net interest income is growing faster than the bank can deploy it

Bank of Nova Scotia reported third-quarter 2026 results. Net profit came in at **CAD 2,908 million**, up **18.8%** year on year, while net interest income rose **10.5%** to **10,31…

KZ 2026-10-01
Evolution: revenue falls for a third straight quarter, yet profit and margin hold steady

On 25 August Evolution reported results for the second quarter of 2026. Revenue fell 1.2% year on year to EUR 517.8 million, EBITDA declined 1.2% to EUR 341.0 million, while net pr…

KZ 2026-10-01
Lion Finance Group: Q2 2026 profit up 20.6%, but its quality rests on net interest income

Lion Finance Group has reported its results for the second quarter of 2026. Net profit came in at **618.8 million lari**, up 20.6% year on year, while net interest income reached *…

KZ 2026-10-01
Scandinavian Tobacco Group: Q2 2026 revenue fell 1.2%, but EBITDA margin rose to 21.2%

On 13 August, Scandinavian Tobacco Group reported Q2 2026 results. Revenue declined 1.2% year-on-year to DKK 2,334.0 million, EBITDA rose 0.5% to DKK 493.7 million, and net profit …

KZ 2026-10-01
Imperial Brands: revenue barely grows, but 2.83x LTM EBITDA leverage and a 6.7% dividend yield keep the stock in play

Imperial Brands has reported results for the first half of 2026. Revenue came in at **GBP 14,719.0 million**, up just **0.8%** year on year, while operating profit was **GBP 925.0 …

ZA 2026-10-01
Capitec: H1 profit up 19.2%, but the share already trades at nearly 30x earnings

Capitec's H1 2026 report showed net profit of **ZAR 9,525 million**, up **19.2%** year on year. The bank earns a **31.2%** return on equity – exceptionally high for a bank. However…

US 2026-09-30
MICRON TECHNOLOGY INC: revenue grew 4.8x, and $33bn of $44bn operating cash flow was left as free cash

On September 30, MICRON TECHNOLOGY INC released results for the fourth quarter of fiscal 2026. Revenue came in at **$54,229 million** versus $11,315 million a year earlier, net inc…

US 2026-09-30
ORACLE CORP: Cloud revenue jumps 62%, but $28.5bn of capex keeps free cash flow at -$5.4bn

On 10 September, ORACLE CORP reported results for the first quarter of fiscal 2027 (quarter ended 31 August 2026). Revenue rose 29.6% year-on-year to $19.3bn, EBITDA – by 66.8% to …

US 2026-09-30
S&P Global: revenue up 10%, operating profit up 17% – Ratings and Indices carried the quarter

On July 28, S&P Global released its second-quarter 2026 results. Revenue came in at **$4,146 million**, up 10.4% year on year, operating profit rose 17% to **$1,812 million**, and …

Commodities 2026-09-30
TotalEnergies: profit doubled, but one-off items, not production, carried the second quarter

On 25 July TotalEnergies released its second-quarter 2026 results. Revenue rose 27.8% year on year to USD 57.1 bn, EBITDA added 38.9% to USD 12.5 bn, and net profit more than doubl…

Commodities 2026-09-30
Suncor Energy: profit tripled, but half the quarter rests on the oil price

On 25 August Suncor Energy reported results for the second quarter of 2026. Revenue rose 51.8% year on year to USD 13,845.8 mn, EBITDA by 111.9% to USD 5,020.7 mn, and net profit b…

Commodities 2026-09-30
Cenovus Energy: profit tripled, but one revenue jump made half the quarter

Cenovus Energy reported second-quarter 2026 results. Revenue rose 50.1% year on year to USD 13,903.4 million, EBITDA by 143.3% to USD 4,199.9 million, and net profit by 243.3% to U…

Commodities 2026-09-30
Shell: profit tripled, but it came from a one-off revenue surge, not a durable improvement

Shell reported results for the second quarter of 2026. Revenue reached **$94,664 million**, up **44.7%** year-on-year, net profit hit **$10,821 million**, tripling from **$3,601 mi…

Commodities 2026-09-30
Aker BP: revenue up 42%, but profit largely absorbed by debt growth and taxes

On August 25, Aker BP reported Q2 2026 results. Revenue rose 42% year-on-year to $3,597.5 million, EBITDA jumped 92.6% to $2,682.9 million, and net profit was $521.0 million versus…

Commodities 2026-09-30
Zijin Mining: profit up by half, but revenue growth slowed to 14%

Zijin Mining reported second-quarter 2026 results. Revenue reached **USD 14.0 bn**, up 14.0% year on year; EBITDA came in at **USD 4.8 bn** (+66.7%), and net profit was **USD 2.8 b…

Commodities 2026-09-30
Var Energi: revenue doubled, but EBITDA margin fell to 89.1%

Var Energi reported Q2 2026 results. Revenue doubled year-on-year to $3,704.8 million, EBITDA rose 81.4% to $3,301.7 million, and net profit jumped 287.1% to $838.9 million. Growth…

Commodities 2026-09-30
Eni: revenue up 15.3%, but profit barely moved and net debt rose by $3.3bn in the quarter

On 29 April Eni reported results for the first quarter of 2026. Revenue came in at **$22,971.3m**, up 15.3% year on year, while net profit was **$1,246.2m**, just 0.7% higher than …

US 2026-09-29
American Tower: profit more than doubled, but net debt rose by $7.5bn in the quarter

On 7 August American Tower released its second-quarter 2026 results. Revenue came in at $2,749.1m, up 4.7% year on year, EBITDA at $1,783.2m, and net profit at $887.5m, 2.3 times t…

US 2026-09-29
Everpure (Pure Storage): revenue accelerated to 37.7%, but free cash flow turned negative

On September 2, Everpure (Pure Storage) reported results for the second quarter of 2026. Revenue grew 37.7% year-on-year to $1,185.9 million, EBITDA rose 178.0% to $104.2 million, …

US 2026-09-29
CISCO SYSTEMS, INC.: revenue accelerated to +17.6%, but profit grew faster than sales — and that is the key question for the report

On 25 July 2026, CISCO SYSTEMS, INC. released its results for the fourth quarter of 2026. Revenue came in at **17,252.0 million dollars**, up **17.6%** year on year, an acceleratio…

KZ 2026-09-29
AltynGold: record profit was driven half by the gold price, not by volumes

On 29 September AltynGold released unaudited results for the first half of 2026. Revenue rose 64.6% to USD 115.2m, adjusted EBITDA by 55.4% to USD 68.5m and net profit by 58.4% to …

US 2026-09-28
UDR: profit jumped 83% on property sales while revenue stood still

On July 27, UDR released its second-quarter 2026 results. Revenue remained flat year-on-year at **$425.4 million**, EBITDA rose 12.7% to **$279.4 million**, and net profit jumped 8…

Commodities 2026-09-28
US Energy: revenue grew for the first time in a year, but construction costs eat the entire gain

On August 11, US Energy reported results for the second quarter of 2026. Revenue came in at **$2.134 million**, up 5.2% year-on-year – the first positive growth in five quarters. E…

Commodities 2026-09-28
Rio Tinto: profit grew almost twice as fast as revenue, but the multiple is already above its own history

Rio Tinto's Q2 2026 results, as disclosed, showed revenue of **$31.0 billion** and net profit of **$6.7 billion**. Revenue rose 14.5% year on year, while net profit grew 45.9%, lif…

PH 2026-09-28
PH_SM: revenue accelerated to +7.5%, but profit lags — margin slightly compressed

On 25 August, PH_SM released its Q2 2026 results. Revenue came in at **179,781 mn PHP**, operating profit at **42,168 mn PHP**, and net profit at **33,170 mn PHP**. Revenue growth …

ZA 2026-09-28
Valterra Platinum: profit up 37-fold, but almost all of it came from metal prices, not volumes

Valterra Platinum has released its results for the first half of 2026. Revenue rose 93.2% year-on-year to ZAR 81.8bn, EBITDA jumped 390.1% to ZAR 33.8bn, and net profit surged 3593…

AU 2026-09-28
Gold and lithium torch the coal face as Australia's miners split in two

This earnings season, Australian resources didn't just diverge: they split into two different economies. Gold and lithium miners posted revenue growth of 66% and 73% year over year…

IN 2026-09-28
Titan and Coforge shine as pharma and staples hit the skids

This quarter's earnings season was defined by a stark divergence: consumer-facing and commodity plays delivered explosive growth, while defensive sectors like pharmaceuticals and c…

KR 2026-09-28
Memory Chips and Shipbuilders Break the Tape as Telecom Sinks

This quarter's Korean corporate season was defined by a brutal divergence: the top of the growth table is all about AI, defence, and heavy industry, while the bottom is a lonely te…

UAE 2026-09-28
Fertilizer and Fuel Flip the Script as UAE Inc. Splits in Two

The UAE's second-quarter earnings season was defined by a brutal divergence: fertilizer and fuel retail revenues surged 91.9% and 52.8% year over year, while gas processing and tol…

US 2026-09-27
AI infrastructure laps the field while gas producers run on empty

This earnings season was a demolition derby between the AI buildout and the rest of the economy. AI cloud infrastructure revenue grew a median 283.2% year over year, while natural …

Commodities 2026-09-27
Tankers and Silver Outrun a Stalling Energy Patch

This quarter's commodity corporate results were defined by a stark divergence: crude tankers and silver miners posted median revenue growth above 100% and 56% respectively, while p…

KZ 2026-09-27
Memory Chips and Fertilizer Outrun an Oil & Gas Wreck

This season's defining split is between a memory-chip supercycle and an oil-and-gas unwind. Semiconductor memory posted a median revenue gain of +256.8% year over year, while gas p…

UZ 2026-09-27
Uzbekistan's corporate season: Trust races ahead as Universal sputters

The second quarter of 2026 delivered a stark split in Uzbekistan's corporate landscape: while most companies posted double-digit revenue growth, net profit diverged wildly. Trust l…

ID 2026-09-27
Nickel's blowout H1: INCO's profit surge leaves coal and banks in the dust

This season's corporate results are defined by a single, stark divergence: nickel miner INCO posted a 313.4% year-over-year surge in net profit, while petrochemicals player TPIA sa…

MX 2026-09-27
Beverage and Metal Barons Break Away as Banks and Consumer Health Stumble

This quarter's earnings season was defined by a stark divergence: beverage and metals companies posted explosive growth while banks and consumer health names shrank. The median rev…

PH 2026-09-27
Philippine Banks Outrun a Shrinking Utility as Conglomerates Split

This quarter's Philippine corporate season was defined by a violent divergence: banks delivered a median revenue gain of +21.8% year over year, while the sole utility in our sample…

ZA 2026-09-25
Momentum: profit rose 11.1% while revenue fell 57.0% – the gain came from the balance sheet, not the business

The FY 2026 report showed revenue of ZAR 64,016 million, down 57.0% year on year, but net profit of ZAR 6,643 million, up 11.1%. Net profit as a share of net interest income rose t…

US 2026-09-24
COSTCO WHOLESALE CORP /NEW: revenue up 11.1%, but a quarter of quarterly profit came from a one-off tariff refund

On 24 September COSTCO WHOLESALE CORP /NEW reported results for the fourth quarter of fiscal 2026. Revenue came in at **95,723 million dollars**, operating profit at **3,801 millio…

UZ 2026-09-24
UZ_UZEX: H1 profit up 18.6%, but quarterly revenue growth decelerated to 11.8%

On August 25, UZ_UZEX released its results for the first half of 2026. H1 revenue reached **264,737.8 mln UZS** (+11.4% YoY), net profit was **221,484.3 mln UZS** (+18.6% YoY), and…

KZ 2026-09-21
Kazatomprom: KZT 240.4bn quarterly profit, but cash flow inflated by a one-off inflow

On 21 August, Kazatomprom released its operating and financial review for the six months ended 30 June 2026. In the second quarter, revenue reached **KZT 717.8bn**, EBITDA – **KZT …

ZA 2026-09-21
Remgro: profit halved on 3.7% lower revenue, and the year leans on one-off inflows

Remgro's FY 2026 report showed revenue of **51,010 million ZAR** (–3.7% year on year), operating profit of **3,817 million ZAR** and net profit of **1,438 million ZAR** (–56.5%). T…

ZA 2026-09-20
Aspen: ZAR 2.65bn profit on a 19.6% revenue decline – the gap between the income statement and cash flow

Aspen has released its FY 2026 results. Revenue fell 19.6% year-on-year, EBITDA dropped 75.0% to ZAR 2.68bn, and net profit came in at ZAR 2.65bn with a 7.6% net margin. Operating …

ID 2026-09-18
ID_ADRO: H1 profit up 68.9% while operating cash flow turned negative

The H1 2026 report showed revenue of USD 999.242 million and net profit of USD 329.195 million. Net margin rose to 32.9% from 22.7% a year earlier, while operating cash flow turned…

ID 2026-09-18
ID_INCO: H1 profit grew 4.1x while cash flow lagged

The H1 2026 report showed revenue of **$543.1 million** and net profit of **$104.4 million**. Net margin rose to **19.2%** from **5.9%** a year earlier, with profit up **313.4%**. …

ID 2026-09-18
ID_AADI: H1 profit up 10.5%, but quarterly revenue fell 10.3%

Today ID_AADI released its H1 2026 results. Half-year revenue rose 6.1% year-on-year, net profit – 10.5%, with a net margin of 18.6%. However, in the standalone first quarter of 20…

Commodities 2026-09-16
Evolution Petroleum: net income rose 35.7%, but the gain came from hedge revaluation, not the business

On 15 September Evolution Petroleum reported results for the fourth quarter of fiscal 2026. Revenue rose 17.1% year on year to $24.2 million and net income 35.7% to $4.6 million, b…

KZ 2026-09-16
KZTK: H1 profit fell 95% while EBITDA rose 64% — the gap is a base effect

KZTK reported results for the first half of 2026. Revenue rose 4.6% year on year to KZT 289.7 bn, EBITDA added 63.6% to KZT 97.7 bn, while net profit collapsed 95.0% to KZT 6.5 bn.…

KZ 2026-09-16
Solidcore: H1 profit up 5.3x, but the year was spoiled by concentrate shipment delays

On 30 January 2026, Solidcore Resources plc released its Q4 and FY 2025 production results. For H1 2026, revenue reached $971.7 million, EBITDA – $641.0 million, net profit – $453.…

UZ 2026-09-16
UZ_UNIVERSAL: revenue up 26.6% but profit down 15.2% – margin compressed from 40.9% to 27.4%

UZ_UNIVERSAL reported results for the second quarter of 2026. Revenue rose 26.6% year-on-year to UZS 223,470.2 mn, operating profit came in at UZS 75,750.9 mn, and net profit was U…

ID 2026-09-16
ID_BMRI: H1 profit up 17.8% while net interest income declines

The H1 2026 report showed net profit of IDR 31,627.0 mn, up 17.8% year-on-year. However, net interest income declined by 8.7% to IDR 47,839.2 mn. Over the trailing twelve months, n…

AU 2026-09-16
New Hope: revenue flat, profit down 63% as margin normalises

New Hope today reported FY 2026 results. Revenue came in at A$1,766.53m, up just 0.9% year on year, while net profit collapsed 63.4% to A$160.96m and the net margin narrowed from 2…

Commodities 2026-09-15
Rio Tinto: Q4 revenue up 14.6% but profit barely moved as margin fell to 18.6%

On 25 February Rio Tinto reported fourth-quarter 2025 results. Revenue rose 14.6% year on year to $30,765 million, but net profit added only 0.5% to $5,713 million, and the net mar…

KZ 2026-09-15
AltynGold: profit more than doubled, and the gold price plus a fully loaded plant did almost all of it

On 28 April AltynGold plc published its FY 2025 report. Revenue rose 81.7% to USD 175.4m, EBITDA by 97.2% to USD 101.4m and net profit by 134.7% to USD 62.0m. The EBITDA margin cli…

KZ 2026-09-15
CCBN: H1 profit fell 15.9% even as net interest income rose 12.5%

CCBN's H1 2026 report showed a divergence: net interest income rose 12.5% year on year to KZT 236,546 million, while net profit fell 15.9% to KZT 123,057 million. The reason is tha…

KZ 2026-09-15
ASBN: H1 2026 profit fell 35.4% even as net interest income rose 45.2%

The H1 2026 report shows a divergence: net interest income grew 45.2% year on year to KZT 208,308 million, while net profit fell 35.4% to KZT 64,583 million. Profit was only 31.0% …

UZ 2026-09-15
UZ_TRUST: profit up by a third, but revenue growth has slowed for a fourth straight quarter

On 25 August UZ_TRUST reported results for the second quarter of 2026. Revenue rose 29.0% year on year to UZS 697,436.1 mn, net profit was up 34.5% to UZS 271,123.3 mn, and the net…

UZ 2026-09-15
Hamkorbank: profit up 21.5%, but non-interest income is doing the accelerating

Hamkorbank has reported its Q2 2026 results: revenue reached **UZS 1,556.2 bn**, operating profit – **UZS 599.0 bn**, net profit – **UZS 502.3 bn**. Year on year, revenue added **2…

ID 2026-09-15
ID_BYAN: H1 profit up 17.5%, but Q1 revenue fell 7.7%

Today ID_BYAN released its results for the first half of 2026. Revenue came in at **$1,740.1 million**, net profit at **$410.3 million**, and operating cash flow at **$488.1 millio…

ID 2026-09-15
ID_TPIA: H1 profit fell 77.5% even as revenue rose 83.6%

The H1 2026 report, ended 30 June, showed revenue of **5,348.8 million dollars** and net profit of **283.2 million dollars**. Revenue rose 83.6% year on year, but net profit fell 7…

ID 2026-09-15
ID_ITMG: profit grows faster than revenue, but cash flow lags by half

The H1 2026 report showed revenue of **$1,000.5 million** and net profit of **$106.0 million**. Year-on-year growth was **8.8%** for revenue and **16.5%** for profit, with the marg…

MX 2026-09-15
América Móvil: profit up a quarter, but almost all EBITDA growth was eaten by a one-off gain and a weak peso

On 21 April América Móvil released its first-quarter 2026 results. Revenue rose 2.1% year on year to 236.8 bn pesos, EBITDA – 3.8% to 94.5 bn, net profit – 25.1% to 23.4 bn. Withou…

MX 2026-09-15
FEMSA: Q1 profit doubled, but almost all of the gain came from a one-off merger gain

On April 30, FEMSA reported results for the first quarter of 2026. Revenue rose 6.1% year on year to MXN 207.8 bn, EBITDA – by 11.2% to MXN 28.1 bn, and net profit – by 97.3% to MX…

MX 2026-09-15
Coca-Cola FEMSA: profit up 16.9%, but debt jumped 36.1 bn rubles in the quarter

On April 29, Coca-Cola FEMSA reported first-quarter 2026 results. Revenue rose 4.7% year on year to 76,318 mn pesos, EBITDA – 8.3% to 10,527 mn pesos, net profit – 16.9% to 6,211 m…

MX 2026-09-15
MX_LAB: Q2 2026 revenue fell 6% and EBITDA nearly a third, yet net profit held flat

On 22 April MX_LAB released its first-quarter 2026 results. Revenue for the reported period was MXN 4,190.6 million, down 4.9% year on year, EBITDA was MXN 956.4 million at a 22.8%…

MX 2026-09-15
Banorte: profit holds flat as provisions and one-offs eat the upside

On August 25, Grupo Financiero Banorte released its first-quarter 2026 results. Net income came in at **15.46 billion pesos**, just 1% above the first quarter of last year, while n…

MX 2026-09-15
Grupo Carso: Q2 revenue rose 3.9%, but profit was carried by financial income, not operations

On August 25, Grupo Carso released its results for the second quarter of 2026. Revenue rose 3.9% year on year to MXN 48,194.4 mn, EBITDA fell 1.3% to MXN 6,213.8 mn, and net profit…

MX 2026-09-15
Cemex: Q2 revenue up 12.2%, but EBITDA margin compressed to 19.6%

Cemex reported Q2 2026 results. Revenue rose 12.2% year-on-year to $4,593.4 million, EBITDA grew 6.6% to $1,018.3 million, and net profit increased 9.0% to $346.6 million. However,…

MX 2026-09-15
MX_INBURSA: profit fell 29%, but capital still earns 8.3% — the question is whether the bank can hold its margin

MX_INBURSA reported its second-quarter 2026 results. Net profit for the reported period fell 29.0% year on year to MXN 5,926.4 million, while net interest income in the second quar…

MX 2026-09-15
MX_GAP: double-digit profit growth, but quarterly cash flow nearly dried up

MX_GAP reported second-quarter 2026 results. Revenue grew 3.7% year-on-year, EBITDA rose 8.4%, net profit increased 9.0%, and the EBITDA margin reached 52.8%. However, operating ca…

MX 2026-09-15
MX_OMA: Q2 profit up nearly a tenth, but the growth rests on cost cuts, not on revenue

On 25 August MX_OMA released its Q2 2026 results. Revenue rose 2.6% year on year to MXN 4,466.5 mn, EBITDA – by 6.2%, net profit – by 9.8%. The EBITDA margin improved to 59.9% from…

MX 2026-09-15
Bajío: Q2 2026 profit fell again, and higher rates have not helped yet

On July 29, 2026, Grupo Financiero Bajío reported results for the second quarter of 2026. Net profit came in at **2,118 million pesos**, down **2.2%** year on year, while net inter…

MX 2026-09-15
Grupo Bimbo: revenue falls for a second straight quarter, yet margin and profit rise on one-offs

On 29 July Grupo Bimbo released its second-quarter 2026 results. Revenue fell 2.2% year on year to MXN 105,025.8 million, EBITDA rose 1.6% to MXN 15,148.3 million, and net profit a…

MX 2026-09-15
Grupo México: profit up 78.5%, but almost all of it comes from metal prices, not volumes

On April 28, Grupo México released its first-quarter 2026 results. Revenue reached a record **$5.57 billion** (+32.7% year on year), EBITDA – **$3.31 billion** (+49.6%), net profit…

MX 2026-09-15
MX_LIVERPOL: profit up 55% while revenue barely moved – growth rests on margin

On 25 August MX_LIVERPOL released its second-quarter 2026 results. Revenue added just **1.5%** year on year, to **57,290.2 mn MXN**, while EBITDA rose **30.3%**, to **9,650.4 mn MX…

MX 2026-09-15
MX_ASUR: revenue up 9.9% but EBITDA down 7.6% as margin contracts 9.2 pp

On August 25, MX_ASUR reported results for the second quarter of 2026. Revenue rose **9.9%** year-on-year to **9,578.964 million MXN**, net profit added **1.2%** to **2,296.406 mil…

PH 2026-09-15
Ayala: Q2 net profit swung to a PHP 9.8bn loss, and the 133.4% EBITDA margin is not an operating result

On 12 August Ayala Corporation released its Q2 2026 results. Quarterly revenue was PHP 27.8bn, EBITDA PHP 37.2bn, and net profit a loss of PHP 9.8bn; the EBITDA margin was 133.4% v…

PH 2026-09-15
Aboitiz Equity Ventures: H1 profit up 63%, but Q2 revenue collapsed 99.7% — two scales collide in the filings

On 13 August Aboitiz Equity Ventures released its first-half 2026 report. Net income attributable to shareholders rose 63% to PHP 13.6 bn, half-year EBITDA added 31% to PHP 52.4 bn…

PH 2026-09-15
DMCI Holdings: profit up 2.8x, but almost all of it came from coal and nickel while revenue fell 36%

On 12 August DMCI Holdings released its results for the second quarter of 2026. Quarterly revenue fell 36% year-on-year to PHP 19.0 bn, but net profit rose 176.4% to PHP 14.8 bn an…

PH 2026-09-15
BPI: Q2 profit slipped 2% as provisions swallowed the entire net interest income gain

On 17 July Bank of the Philippine Islands released its Q2 2026 report. Quarterly net profit came in at **PHP 15.99bn**, down 2.0% year on year, even as net interest income rose to …

PH 2026-09-15
Megaworld: profit up 16.3% but revenue barely grows and Q2 EBITDA declined

On 4 May Megaworld Corporation released its Q1 2026 report. Revenue for the quarter rose 3.0% year on year to PHP 20.5bn, net profit increased 6.1% to PHP 6.18bn, and the net margi…

PH 2026-09-15
Security Bank: profit grows, but loan-loss provisions, not the business, eat it

On 14 May Security Bank Corporation released its first-quarter 2026 report. Net interest income rose to **PHP 15,161.4 mn** from 11,881.3 mn a year earlier, quarterly net profit ca…

PH 2026-09-15
SM Prime: revenue accelerated to +7.6%, but profit barely grew — margin compressed to 33.8%

SM Prime Holdings reported second-quarter 2026 results. Revenue rose 7.6% year on year to 38.8 bn pesos, net profit added only 2.5% to 13.1 bn pesos, and net margin narrowed to 33.…

PH 2026-09-15
PLDT: revenue grows for a second quarter, but EBITDA halves on one-off items

On August 13, PLDT released its H1 2026 results. Half-year revenue rose 2% to PHP 112,006 million, with Q2 revenue up 2.2% year-on-year to PHP 55,493 million. However, Q2 net profi…

PH 2026-09-15
PH_UBP: quarterly profit up 69.3%, but the entire gain came from a low base, not from the business

On 25 August PH_UBP released its second-quarter 2026 results. Net profit for the reported period rose 69.3% year on year to PHP 3,078.3m, while net interest income added only 1.0% …

PH 2026-09-15
ICTSI: profit up a third, but depreciation and lease interest ate half the EBITDA gain

On 25 August ICTSI released its Q2 2026 results. Revenue grew 25.3% year on year, net profit – by 33.7%, to USD 326.7 million, and the net margin rose to 34.1% from 31.9%. At the s…

PH 2026-09-15
Meralco: revenue up a quarter, but purchased power and 2.08x EBITDA leverage absorbed it all

On August 25, Manila Electric Company released its first-half 2026 results. Revenue for the six months rose 16% to PHP 283,710 million, net income added 13% to PHP 27,536 million, …

PH 2026-09-15
Ayala Land: revenue falls for a fifth straight quarter, yet profit keeps the margin above 20%

On 31 March Ayala Land released its first-quarter 2026 report. Revenue for January–March fell 13.9% year on year to **PHP 37.5 bn**, net profit declined 20.2% to **PHP 6.7 bn**, an…

PH 2026-09-15
Jollibee: revenue up 11.4%, but Q2 profit was not made in the restaurants

On August 25, Jollibee Foods Corporation released its second-quarter 2026 results. Revenue rose 11.4% year on year to PHP 86.5 bn, net profit added 9.6% to PHP 3.5 bn, while operat…

PH 2026-09-15
JG Summit: profit up 19x, but paper revaluation and one-offs carried the entire gain

On 13 May JG Summit Holdings released its first-quarter 2026 results. Revenue rose 7% to **PHP 99.9 bn**, operating profit grew 9% to **PHP 17.1 bn**, and net profit attributable t…

PH 2026-09-15
Robinsons Land: profit up 15.5%, but the gap between accounting and cash returns widens

On 11 May Robinsons Land Corporation released its first-quarter 2026 results. Revenue rose 11.3% to PHP 12,281.5 million, net profit added 15.5% to reach PHP 4,400.1 million, and t…

PH 2026-09-15
Globe Telecom: revenue is growing again, but profit is not coming from operations

On 25 August Globe Telecom released its results for the six months ended 30 June 2026. In the second quarter revenue rose 7.9% year on year to PHP 46,954.6 mn, net profit added 0.4…

PH 2026-09-15
PH_BDO: net interest income jumped 15.6% but Q2 2026 profit stayed flat year on year

On 25 August PH_BDO released its Q2 2026 results. Net interest income rose **15.6%** year on year to **108,511 mn pesos**, EBITDA reached **36,252 mn**, and net profit was **20,668…

PH 2026-09-15
PH_MBT: Q2 2026 profit barely grew even as net interest income rose 13.3%

On 25 August PH_MBT released its Q2 2026 results. Net interest income came in at **PHP 41,131 mn**, up 13.3% year on year, operating profit at **PHP 19,832 mn**, and net profit at …

KZ 2026-09-14
Air Astana: revenue up 18.3%, but unit-cost inflation wiped out profit

Air Astana Group reported Q2 2026 results. Revenue rose 18.3% year-on-year to $432.9m, EBITDAR fell 3.7% to $93.5m, and the net loss was $0.1m versus a $18.0m profit a year earlier…

KZ 2026-09-14
KMGZ: profit doubled, but free cash flow turned negative on dividend timing and higher capex

On 29 May 2026, KMGZ published its results for the first quarter of 2026. Revenue rose 10.7% year-on-year to KZT 2,481 bn, EBITDA – by 33.0% to KZT 775 bn, net profit – by 93.8% to…

KZ 2026-09-14
Kazatomprom: revenue up 8.7% but EBITDA down 10.2% — margin compressed 7.4 pp on higher taxes and sulphuric acid

On 21 August Kazatomprom released its operating and financial review for the six months ended 30 June 2026. Revenue for the first half rose 8.7% year on year, but EBITDA fell 10.2%…

Commodities 2026-09-12
CMB.TECH: Q2 profit jumped 47-fold, but 369 million of it came from a one-off item

On 25 August CMB.TECH reported results for the second quarter of 2026. Revenue rose 81.5% year on year to 703.9 million, EBITDA – by 84.9% to 304.3 million, and net profit jumped t…

Commodities 2026-09-11
DHT Holdings: profit tripled, but the entire gain rests on a single quarter

DHT Holdings' Q2 2026 results showed sharp growth: revenue rose 122.7% year-on-year to $284.8 million, EBITDA – by 234.8% to $231.0 million, net profit – by 254.1% to $198.3 millio…

Commodities 2026-09-11
International Seaways: profit up 4.8x on record freight rates, but multiples already above its own history

On August 10, International Seaways released its second-quarter 2026 results. Revenue rose 138.8% year on year to $467.3 million, adjusted EBITDA by 208.0% to $345.2 million, and n…

Commodities 2026-09-11
Frontline: profit up 8.5x, but almost all of it came from revaluation, not from shipping

Frontline has reported results for the second quarter of 2026. Quarterly revenue rose 96.5% year on year to USD 943.3 million, EBITDA by 211.6% to USD 667.5 million, and net profit…

Commodities 2026-09-11
Teekay Tankers: profit tripled as freight rates, not fleet growth, drove the quarter

On 25 August Teekay Tankers reported second-quarter 2026 results. Revenue rose 63.0% year on year to USD 379.5m, EBITDA by 239.3% to USD 210.5m, and net profit by 271.5% to USD 231…

Commodities 2026-09-11
Okeanis Eco Tankers: profit up 7x, but the entire gain rests on a single quarter

Okeanis Eco Tankers reported first-quarter 2026 results. Revenue rose 112.3% year on year to $170.2m, EBITDA by 238.7% to $110.1m, and net profit by 603.4% to $88.3m. The EBITDA ma…

Commodities 2026-09-11
Scorpio Tankers: Q2 profit grew 5.3x, but almost all of it is paper

On August 25, Scorpio Tankers reported Q2 2026 results. Revenue rose 77.5% year-on-year to $408.7 million, EBITDA – by 125.4% to $280.4 million, net profit – by 427.2% to $387.5 mi…

Commodities 2026-09-11
Nordic American Tankers: Q2 2026 profit of $68.3m came almost entirely from margin, not fleet growth

Nordic American Tankers reported results for the second quarter of 2026. Revenue rose 97.5% year on year to $79.3m, EBITDA by 345.6% to $68.6m, and net profit reached $68.3m agains…

ID 2026-09-11
Telkom Indonesia: H1 profit rose to IDR 14.2tn, but revenue grew only 3.9%

On 31 July PT Telekomunikasi Indonesia Tbk. released its unaudited H1 2026 financial statements. Revenue for the six months came in at **IDR 75,878bn** versus IDR 73,004bn a year e…

ID 2026-09-11
GoTo: first profit in years, but 143x EBITDA is no longer about the money

— Profit of 423.3 bn rupiah came from non-operating items, not from operations…

ZA 2026-09-11
FirstRand: profit fell 42.6%, but a 5.2% dividend yield and the portal model leave room

FirstRand's FY 2026 results showed net profit falling 42.6% year on year. Net interest income for the trailing twelve months was ZAR 91,400 million, with net profit at ZAR 43,926 m…

ZA 2026-09-11
Sanlam: H1 profit up 29.1% even as revenue fell 11.8%

Sanlam's H1 2026 results showed a divergence: revenue fell 11.8% year-on-year, but net profit rose 29.1%. Over the trailing twelve months, net profit reached ZAR 18,914 million, wi…

ZA 2026-09-11
OUTsurance: profit up 19.5%, but a 4% dividend yield no longer looks generous

OUTsurance has reported its FY 2026 results. Revenue rose 12.6% year on year, net profit – by 19.5%, and net profit as a share of net interest income climbed to 13.0% from 12.2%. A…

US 2026-09-10
Monster Beverage Corp: revenue accelerated to +20.2%, yet shares slide on market disappointment

— Q2 2026 revenue grew 20.2% to $2.54 billion, with international sales up 34.6% and accounting for 46% of the total…

US 2026-09-10
Datadog, Inc.: revenue up 36%, but shares fell 19% – market doubts sustainability

— Revenue in Q2 2026 grew 35.6% YoY – accelerating from 32.2% a quarter earlier…

US 2026-09-10
Hewlett Packard Enterprise Co: record revenue and profit, but growth came from AI servers, not the whole company

— Revenue grew a third thanks to AI servers, but without them growth would have been more modest…

US 2026-09-10
EOG Resources: Revenue Soars 57.4%, but Portal Model Sees 35% Overvaluation

— Q2 2026 revenue rose 57.4% YoY to $8,620 million, driven by a sharp jump in energy prices…

US 2026-09-10
Lumentum Holdings Inc.: revenue doubled, but a quarterly loss of $7.2 billion — the price of converting debt into equity

On August 11, 2026, Lumentum Holdings Inc. reported results for the fourth quarter of fiscal year 2026. Revenue grew 109.3% year-over-year to $1,006.3 million, EBITDA rose 501.3% t…

US 2026-09-10
Nebius: revenue soars 454%, but EBITDA margin turns negative amid massive capex

On August 25, Nebius reported Q2 2026 results: revenue surged 454% YoY to $582.3 million, EBITDA was $118.4 million versus a loss a year earlier, but net profit turned negative at …

US 2026-09-10
Bloom Energy Corp: revenue tops $1 billion for the first time in a quarter, but the stock fell 11.3% on the day of the report

— Revenue exceeded $1 billion for the first time in a quarter, up 165.5% driven by products…

US 2026-09-10
COHERENT CORP.: revenue accelerated to +34%, but shares trade at 47.5x EV/EBITDA — the market has already paid for the optical boom

In the fourth quarter of fiscal 2026 (ended June 30, 2026), COHERENT CORP. reported revenue of **$2,045.5 million**, up 34% YoY. The company attributes the growth to the transition…

US 2026-09-10
Diamondback Energy: Q2 2026 revenue and profit soar on higher oil prices, but the stock price already reflects this

On August 25, 2026, Diamondback Energy reported results for the second quarter of 2026. Revenue rose 51.2% year-over-year to $5,562 million, EBITDA increased 63.8% to $3,940 millio…

US 2026-09-10
Astera Labs: revenue doubled, but shares trade at 180 times earnings — growth is already priced in

— Revenue in Q2 2026 doubled to $392.4 million, and Scorpio switches will become the largest product family in Q3…

US 2026-09-10
CoreWeave: revenue doubled, but net loss widens and leverage remains high

— Revenue doubled year-over-year, but growth is slowing from 420% to 112%…

US 2026-09-10
FLEX LTD.: revenue accelerated to +20.6%, but free cash flow collapsed to $41 million

— FLEX LTD. revenue accelerated to +20.6% on AI infrastructure demand…

US 2026-09-10
Devon Energy Corporation: quarterly profit doubled on merger and hedging, but debt rose by $2.5 billion

In Q2 2026, Devon Energy Corporation's revenue reached $5,100 million, up 19.0% year-over-year. The main driver was the merger with Coterra completed on May 7, 2026: oil production…

US 2026-09-10
NetApp: record quarter with 30% revenue growth, but market eyes valuation

— Revenue grew 30% driven by record all-flash array and public cloud sales…

US 2026-09-10
JABIL INC: revenue up 11.8%, but the market punishes the stock — investors expected more from the AI boom

On June 17, 2026, JABIL INC reported results for the third quarter of fiscal 2026. Revenue grew 11.8% YoY to **$8,751 million**, net profit rose 23.9% to **$275 million**, yet the …

US 2026-09-10
MongoDB, Inc.: revenue accelerated to 30%, but shares fell 21% after the report

— Revenue grew 30.5% — the highest in several years, driven by Atlas and Enterprise Advanced…

US 2026-09-10
HUBBELL INC: 15% revenue growth eaten by NSI deal costs, debt jumps to $5.2bn

— Revenue +15.3% driven by 10% organic growth and 5% M&A contribution…

US 2026-09-10
Ovintiv: Q2 profit rose 48.5%, but 337 million of it came from asset sales, not production

On 23 July, Ovintiv Inc. released its Q2 2026 results. Revenue rose 23.9% year on year to 2,872 million dollars, EBITDA – by 41.8% to 1,513 million, net profit – by 48.5% to 456 mi…

US 2026-09-10
Permian Resources: profit nearly quadrupled, but one-offs and gas hedges carried half the quarter

On August 5, Permian Resources Corporation reported second-quarter 2026 results. Revenue jumped **55.1%** year on year to **$1,858.0 million**, EBITDA rose **78.7%** to **$1,428.3 …

US 2026-09-10
WESCO INTERNATIONAL INC: record sales and profit, but cash flow is half of last year's

On July 30, WESCO INTERNATIONAL INC reported second-quarter 2026 results. Revenue rose 13.0% year on year to $6,665.1 million, EBITDA added 13.4%, and net profit was up 19.8% to $2…

US 2026-09-10
LATTICE SEMICONDUCTOR CORP: revenue up 62%, but the gap between adjusted and net income is $55 million

On August 4, LATTICE SEMICONDUCTOR CORP reported results for the second quarter of 2026. Revenue reached a record $201.1 million, up 62.2% year-over-year, adjusted EBITDA rose to $…

US 2026-09-10
APA Corporation: profit up a quarter, but revenue leans on last year's base rather than the oil price

APA Corporation reported second-quarter 2026 results. Revenue rose 9.0% year on year to USD 2,373m, EBITDA by 28.3% to USD 1,726m, and net profit by 23.9% to USD 747m. The EBITDA m…

US 2026-09-10
SITIME Corp: revenue up 127%, but almost all of the quarter's profit is interest on the cash raised from the bond offering

On August 5, SITIME Corp reported results for the second quarter of 2026. Revenue rose 126.5% year over year to $157.4 million, operating income turned positive for the first time …

US 2026-09-10
Talen Energy: Adjusted EBITDA rose to $374 million, but a GAAP loss and $9.3 billion of debt decide the outcome

On August 5, Talen Energy Corporation released its second-quarter 2026 results. Revenue rose 41.9% year on year to $894 million, Adjusted EBITDA reached $374 million against $90 mi…

US 2026-09-10
ONTO INNOVATION INC.: record revenue and a backlog above $1bn, but quarterly profit barely reached cash

On 6 August ONTO INNOVATION INC. reported results for the second quarter of 2026. Revenue rose 35.3% year on year to $343.1m, EBITDA by 47.7%, net profit by 77.2% to $60.1m, and th…

US 2026-09-10
NOVA LTD.: revenue grew 15.9%, but cash flow lags and the valuation sits above its own history

NOVA LTD. reported results for the second quarter of 2026. Revenue grew 15.9% year-on-year to $255.0 million, EBITDA added 15.6% to $82.2 million, and net profit increased 9.8% to …

US 2026-09-10
Antero Resources: record production and a 20% revenue decline — profit rests on derivatives

On July 29, Antero Resources Corporation released its second-quarter 2026 results. Revenue fell 20.2% year on year to $1,559.8 million, but EBITDA rose 53.6% to $602.8 million and …

US 2026-09-10
MGM Resorts: profit jumped sixfold, but half of it came from a one-off property gain

On 29 July MGM Resorts International reported results for the second quarter of 2026. Revenue reached a record for a second quarter at **$4.45 billion** (+1.0% year on year), adjus…

US 2026-09-10
ACUITY INC. (DE): profit up 43%, but half the gain came from a one-off tariff refund

On 25 June ACUITY INC. (DE) reported results for the third quarter of fiscal 2026. Revenue rose 1.6% year on year to $1,198.0 million, EBITDA – by 33.0% to $234.0 million, net prof…

US 2026-09-10
MODINE MANUFACTURING CO: revenue up 28% on data centers, but margin squeezed by supply constraints

On July 29, MODINE MANUFACTURING CO reported results for the first quarter of fiscal 2027 (quarter ended June 30, 2026). Revenue rose 28% year-on-year to **$874.1 million**, net in…

US 2026-09-10
Range Resources Corporation: revenue fell 11.3%, but trailing-twelve-month profit holds near last year's level

On August 25, Range Resources Corporation reported second-quarter 2026 results. Revenue fell 11.3% year on year to $759.6 million, EBITDA declined 25.2% to $294.5 million, and net …

US 2026-09-10
SM Energy Company: profit up 5.3x, but almost all of it came from a production rebound after a disastrous first quarter

SM Energy Company reported second-quarter 2026 results. Revenue rose 215.3% year on year to $2.5 billion, EBITDA grew 255.2% to $2.088 billion, and net profit jumped 431.1% to $1.0…

US 2026-09-10
APPLIED OPTOELECTRONICS, INC.: revenue up 86.4%, but profit consumed by capacity expansion costs

On August 6, APPLIED OPTOELECTRONICS, INC. reported second-quarter 2026 results. Revenue reached **$191.9 million**, up **86.4%** year-on-year and 27% quarter-on-quarter. The compa…

US 2026-09-10
FORMFACTOR INC: profit up sixfold, but almost all of the margin gain came from a one-off reserve reversal

On 29 July FORMFACTOR INC reported results for the second quarter of 2026. Revenue rose 31.9% year on year to $258.2 million, EBITDA by 215.2% to $66.8 million, and net income by 5…

US 2026-09-10
Chord Energy: Q2 profit tripled, but a third of it came from a one-off

— Revenue grew 84.0% not only on oil: purchased oil and gas brought in $678.4 million…

US 2026-09-10
Matador Resources: profit up 2.6x, but capex growth swallowed nearly all of it

On 5 August Matador Resources Company reported second-quarter 2026 results. Revenue rose 31.1% year on year to USD 1,173.4m, EBITDA by 50.9% to 892.4m and net profit by 160.0% to 3…

US 2026-09-10
Allegro MicroSystems: sixth straight quarter of sales growth, but profit barely reaches cash

On July 30, Allegro MicroSystems reported results for the first quarter of fiscal 2027 (ended June 26, 2026). Revenue rose 21.0% year over year to $259.2 million, EBITDA jumped 69.…

US 2026-09-10
Murphy Oil: profit up tenfold on expensive oil, but half of quarterly cash flow absorbed by expanded capex

On August 5, Murphy Oil Corporation released its second-quarter 2026 results. Revenue rose 33.2% year on year to USD 926.3 million, EBITDA grew 68.6% to USD 616.8 million, and net …

US 2026-09-10
CNX Resources: profit halved, but 2.11x net debt/EBITDA and a multiple below its own history keep the stock interesting

On 30 July, CNX Resources Corporation released its second-quarter 2026 results. Revenue fell 35.7% year on year to $618.5 million, EBITDA declined 43.9% to $414.0 million, and net …

US 2026-09-10
California Resources Corporation: Q2 profit tripled, but the year opened with a $711 million loss

California Resources Corporation reported Q2 2026 results on July 30. Revenue rose 32.6% year-on-year to $1,297 million, EBITDA grew 62.5% to $642 million, and net profit nearly tr…

US 2026-09-10
Magnolia Oil & Gas: profit more than doubled, but the gain came from oil prices, not volumes

On 5 August Magnolia Oil & Gas Corporation reported second-quarter 2026 results. Revenue rose 50.1% year on year to USD 478.8 million, EBITDA by 65.5% to 359.2 million, and net inc…

US 2026-09-10
KULICKE & SOFFA INDUSTRIES INC: profit jumped 17-fold, but almost none of it has turned into cash yet

On August 5, KULICKE & SOFFA INDUSTRIES INC reported results for the third quarter of fiscal 2026. Revenue rose 122.6% year on year to $330.4 million, net income reached $57.4 mill…

US 2026-09-10
Comstock Resources: Revenue Fell a Quarter but Production Growth and a One-Off Deal Kept Profit Positive

On July 29, Comstock Resources, Inc. released its second-quarter 2026 results. Revenue fell 24.9% year-on-year to $353.3 million, adjusted EBITDAX declined to $245 million, and net…

US 2026-09-10
Axcelis Technologies: revenue returned to growth, but profit fell by a quarter on Veeco merger costs

On August 6, Axcelis Technologies reported second-quarter 2026 results. Revenue rose 10.6% year-on-year to $215.2 million, but adjusted EBITDA fell 26.3% to $24.7 million and net i…

US 2026-09-10
Ultra Clean Holdings: revenue up a quarter, but almost none of the profit stayed with the company

On 3 August Ultra Clean Holdings, Inc. reported results for the second quarter of 2026. Revenue rose **24.3%** year on year to **$644.9 million**, operating profit reached **$29.5 …

US 2026-09-10
AMBARELLA INC: loss shrank threefold, but $9m of that is a one-off deposit release, not a business improvement

On 3 September AMBARELLA INC reported results for the second quarter of fiscal 2027, ended 31 July 2026. Revenue rose 13.2% year on year to $108.1m, the net loss narrowed to $6.7m …

US 2026-09-10
AEHR TEST SYSTEMS: $60.7m in record bookings and guidance for 2.6–3.0x revenue growth – but the quarter's profit rests on a tax benefit

On July 14, AEHR TEST SYSTEMS reported results for the fourth quarter of fiscal 2026, ended May 29. Quarterly revenue was $18.8m versus $14.1m a year earlier, net income was $1.4m …

US 2026-09-10
EXTREME NETWORKS INC: reported profit tripled, but the market saw only a reason to sell

On 5 August EXTREME NETWORKS INC released results for the fourth quarter of fiscal 2026. Revenue came in at **$338.6 million**, GAAP net income at **$18.0 million**, adjusted EBITD…

US 2026-09-10
Northern Oil and Gas: profit up 2.4x, but the entire quarterly cash flow went into drilling and debt

On August 25, Northern Oil and Gas, Inc. released its second-quarter 2026 results. Revenue rose 5.4% year on year to $745.2 million, EBITDA added 5.0% to $401.0 million, and net pr…

US 2026-09-10
CALIX, INC: record revenue and profit, but memory costs eat the margin and the stock trades at 29x EBITDA

On July 20, CALIX, INC reported second-quarter 2026 results. Revenue hit a record **$293.3 million**, up 21.3% year over year, GAAP net income reached **$17.1 million** versus a $0…

US 2026-09-10
ICHOR HOLDINGS, LTD. returned to profit, but cash went into inventory and receivables, not the till

On August 3, ICHOR HOLDINGS, LTD. released its second-quarter 2026 results. Revenue rose 22.7% year on year to $294.8 million, EBITDA jumped 355.7% to $14.4 million, and net income…

US 2026-09-10
C3.ai: revenue down a quarter, but cost cuts turned free cash flow positive for the first time

On 2 September, C3.ai, Inc. reported results for the first quarter of fiscal 2027 (ended 31 July 2026). Revenue came in at **$52.4 million**, down **25.5%** year on year, with a ne…

US 2026-09-10
PagerDuty: profit up fivefold, but revenue barely moves

On August 27, PagerDuty, Inc. reported results for the second quarter of fiscal 2027, ended July 31, 2026. Revenue rose 0.8% year over year to $124.4 million, EBITDA jumped 96.5% t…

US 2026-09-10
W&T Offshore: profit returned, but hedging marks, not production, made it

On 5 August W&T Offshore, Inc. released its second-quarter 2026 results. Revenue rose 32.9% year on year to USD 162.6 million, adjusted EBITDA jumped 254.8% to USD 54.4 million, an…

Commodities 2026-09-10
Energy Transfer LP: record volumes and revenue +78% — but all profit growth is eaten by rising costs

— Revenue +78% — record NGL, oil and gas volumes, but EBITDA margin fell from 19.2% to 14.8%…

Commodities 2026-09-10
Barrick Mining Corporation: Q2 2026 revenue up 43.8%, but portal model suggests 20% downside to fair value

— Q2 2026 revenue grew 43.8% YoY to USD 5,292 million, driven by higher gold and copper prices…

Commodities 2026-09-10
Wheaton Precious Metals: Q2 2026 revenue up 84.7%, but the company turned into a net debtor for the first time in years

— Q2 2026 revenue grew 84.7% YoY to $929.2 million, driven by higher precious metal prices and increased sales volumes…

Commodities 2026-09-10
Vale: revenue up 16.9%, but profit down 36.6% on one-off losses

On August 25, Vale released its results for the second quarter of 2026. Revenue rose 16.9% year on year to $10,439.3 million, EBITDA grew 13.7% to $3,140.0 million, but net profit …

Commodities 2026-09-10
Targa Resources: record quarter amid weak gas prices, but valuation already ahead of history

— Record Q2 EBITDA driven by volume growth, not gas prices…

Commodities 2026-09-10
Baker Hughes: record IET orders doubled, but revenue slipped 2.4% — the energy transition bet pays off

— Record IET orders doubled to $7.1 billion, lifting backlog to $40.1 billion…

Commodities 2026-09-10
ONEOK: revenue accelerated to +52.8%, but margin compressed to 17.3% – growth on borrowed leverage

On August 25, ONEOK reported Q2 2026 results: revenue grew 52.8% YoY to $12,049 million, EBITDA rose 16.0% to $1,984 million, and net profit increased 14.9% to $966 million. Despit…

Commodities 2026-09-10
Cheniere Energy: profit jumps 88.7% on paper derivative revaluations, while the business grows more modestly

— Profit jumped 88.7% mostly on paper derivative revaluations…

Commodities 2026-09-10
Occidental Petroleum: quarterly profit up 6.4x, but one-offs drive the surge

On July 10, Occidental Petroleum reported Q2 2026 results: revenue rose 10.0% YoY to **$7,053 million**, EBITDA jumped 115.5% to **$5,762 million**, and net profit surged 540.2% to…

Commodities 2026-09-10
Nucor Corporation: record profit on higher prices and volumes, but valuation is already ahead

— Record profit driven by higher prices and volumes in the steel mills segment…

Commodities 2026-09-10
Franco-Nevada Corporation: revenue up 57%, but the portal's model sees 48% downside

— Revenue in Q2 2026 grew 57.3% YoY to $580.9 million, driven by higher gold prices and increased production volumes.…

Commodities 2026-09-10
Cameco: Q2 profit down 92%, yet valuation still implies growth

On August 31, Cameco reported Q2 2026 results: revenue fell 5.6% YoY to $592.7 million, EBITDA dropped 47.4% to $106.6 million, and net profit plunged 92.0% to $18.4 million. Despi…

Commodities 2026-09-10
Archer-Daniels-Midland: Q2 profit quadruples, guidance raised again

— Net profit quadrupled in Q2 on operating leverage and one-off items…

Commodities 2026-09-10
Nutrien: Q2 2026 revenue up 3.6%, but EBITDA and profit down 0.6%

On August 25, Nutrien released its results for the second quarter of 2026. Revenue grew 3.6% year-on-year to $10,812 million, EBITDA fell 0.6% to $2,593 million, and net profit als…

Commodities 2026-09-10
Kinross Gold: quarterly profit up 59%, but the portal's model sees 26% downside

On August 5, Kinross Gold reported Q2 2026 results: revenue grew 29.5% YoY to $2,238.1 million, net profit rose 59.1% to $844.2 million. At the current price, the shares look rathe…

Commodities 2026-09-10
Steel Dynamics: record steel shipments and aluminum nearing breakeven, but valuation has run ahead

On July 21, 2026, Steel Dynamics reported Q2 2026 results: revenue grew 33.4% YoY to **$6.1 billion**, net profit rose 78.8% to **$534 million**. Growth was driven by record steel …

Commodities 2026-09-10
Teck Resources: Q2 profit quadruples, but portal model sees only -4% upside

— Q2 revenue grew 81.4% driven by high coal and copper prices…

Commodities 2026-09-10
Texas Pacific Land Corporation: record profit and free cash flow, but shares decline amid valuation concerns

— Revenue grew 31.2% thanks to record production and high oil prices…

Commodities 2026-09-10
Bunge Global: revenue doubled after the Viterra deal, but the portal's model sees 70% downside

On July 29, Bunge Global reported second quarter 2026 results: revenue rose 88.3% year-on-year to $24,041 million, EBITDA grew 128.9% to $1,331 million, and net profit increased 91…

Commodities 2026-09-10
Expand Energy: buybacks and debt redemption exceeded operating cash flow

— Revenue in Q2 fell 19.8% YoY to $2,960 million, following natural gas prices…

Commodities 2026-09-10
Sociedad Quimica y Minera de Chile: profit up 7.5x, but the entire gain rests on lithium prices

Sociedad Quimica y Minera de Chile reported second-quarter 2026 results. Revenue rose 136.7% year on year to USD 2,468.3 mn, EBITDA by 299.4% to USD 1,209.3 mn, and net profit by 6…

Commodities 2026-09-10
Pan American Silver: profit up 61%, but cash flow lagged it by nearly half

On 25 August Pan American Silver reported results for the second quarter of 2026. Revenue rose 38.4% year on year to USD 1,124.0 million, EBITDA – by 56.0% to USD 547.0 million, ne…

Commodities 2026-09-10
Royal Gold: revenue doubled, but profit lagged on one-offs and higher depletion

On July 21, Royal Gold released preliminary financial information for the second quarter of 2026. Revenue for the quarter reached **$450.5 million**, up **114.9%** year-on-year, EB…

Commodities 2026-09-10
Tyson Foods: profit tripled but revenue is flat and leverage sits at 3.07x EBITDA

On 3 August Tyson Foods released its third-quarter fiscal 2026 results. Revenue was flat year on year at **$13,868 million** versus $13,884 million, but EBITDA rose **17.7%** to $6…

Commodities 2026-09-10
Weyerhaeuser: profit doubled, but almost all of it came from land sales, not from the mills

On 30 July Weyerhaeuser reported second-quarter 2026 results. Revenue fell 0.9% year on year to $1,867 million, EBITDA added 2.3% to $310 million, and net profit rose 86.2% to $162…

Commodities 2026-09-10
Albemarle: profit up 21-fold, but almost all of it comes from lithium price, not volumes

On August 5, Albemarle Corporation released its second-quarter 2026 results. Revenue rose 31.1% year on year to $1,743.3 million, adjusted EBITDA jumped 155% to $858.1 million, and…

Commodities 2026-09-10
Hecla Mining: Q2 profit doubled while revenue barely moved — margin did all the work

On August 4, Hecla Mining Company reported second-quarter 2026 results. Revenue rose 9.8% year over year to $333.9 million, adjusted EBITDA climbed 42.0% to $199.2 million, and net…

Commodities 2026-09-10
Coeur Mining: Q2 profit fell 54% on record revenue as a $140m non-cash Rainy River inventory charge bit

On 5 August Coeur Mining reported second-quarter 2026 results. Revenue hit a record **$1,085.6m** (+125.9% YoY), adjusted EBITDA reached **$478.3m** (+124% YoY) and free cash flow …

Commodities 2026-09-10
Alcoa: record revenue and EBITDA tripling, but one-off writedowns ate the profit

On July 16, Alcoa Corporation reported second-quarter 2026 results. Revenue hit a record **$3,966 million** (+31.4% year-on-year), adjusted EBITDA rose to **$901 million** (2.9x ye…

Commodities 2026-09-10
Suzano: Q2 EBITDA up 13.9% but net profit down 60.4% – the gap is a one-off base effect

On August 13 Suzano reported Q2 2026 results. Revenue fell 4.3% year on year to $2,282.4 million, EBITDA rose 13.9% to $1,171.2 million, and net profit dropped 60.4% to $355.9 mill…

Commodities 2026-09-10
Hudbay Minerals: Q2 2026 profit up 16.7%, but cash flow runs almost twice ahead of it

Hudbay Minerals reported second-quarter 2026 results. Revenue rose 17.7% year on year to $631.3 million, EBITDA – by 18.2% to $293.8 million, and net profit – by 16.7% to $137.4 mi…

Commodities 2026-09-10
Sunoco LP: revenue up 2.6x on the Parkland acquisition, but preferred and Class D units diluted per-unit profit

On 4 August Sunoco LP reported second-quarter 2026 results. Revenue rose 164.5% year on year to $14,259 million, adjusted EBITDA by 175.1% to $982 million, and net income by 229.1%…

Commodities 2026-09-10
First Majestic Silver: profit doubled, but revenue slowed and the portal model sees 61% downside

On August 25, First Majestic Silver reported second-quarter 2026 results. Revenue rose 56.5% year on year to $414.2 million, EBITDA jumped 119.8% to $247.4 million, and net profit …

Commodities 2026-09-10
Gerdau: profit up 86%, but the recovery rests on margin, not volumes

Gerdau reported second-quarter 2026 results. Revenue rose 12.0% year on year to USD 3,519.2m, EBITDA added 47.5%, and net profit jumped 86.2% to USD 288.7m. The EBITDA margin climb…

Commodities 2026-09-10
Eldorado Gold: profit up a quarter, but free cash flow eaten by record capex and net debt nearly doubled in the quarter

On 25 August Eldorado Gold reported second-quarter 2026 results. Revenue rose 7.9% year on year to USD 487.5 mn, EBITDA – 10.2% to USD 267.1 mn, net profit – 25.2% to USD 172.8 mn.…

Commodities 2026-09-10
The Mosaic Company: Q2 2026 loss of $272.8 million, but adjusted EBITDA stayed positive

On August 4, The Mosaic Company reported Q2 2026 results. Revenue declined 6.0% year-on-year to $2,824.1 million, net loss was $272.8 million versus a profit of $410.7 million a ye…

Commodities 2026-09-10
B2Gold: Q2 profit up 2.7x while cash flow turned negative

On August 25, B2Gold released its Q2 2026 results. Revenue rose 14.0% year-on-year to $789.4 million, EBITDA added 3.6% to $408.2 million, and net profit jumped 170.3% to $417.3 mi…

Commodities 2026-09-10
National Oilwell Varco: EBITDA up 23% but $40 million of it came from tariff refunds

On July 29, National Oilwell Varco released its second-quarter 2026 results. Revenue fell 2.5% year-on-year to $2,134 million, adjusted EBITDA rose 23.0% to $283 million, and net i…

Commodities 2026-09-10
SSR Mining: profit up 8%, but the $1.49bn from the Çöpler sale matters more than the quarter

On August 4, SSR Mining reported second-quarter 2026 results. Revenue rose 9.5% year on year to $443.8 million, EBITDA by 60.4% to $224.7 million, and net profit by 8.0% to $97.3 m…

Commodities 2026-09-10
Matson: China service carried the quarter, but the multiple is already twice its own history

On July 15, Matson published preliminary results for the second quarter of 2026. Revenue rose 16.7% year on year to $969.4 million, EBITDA added 7.1% to $211.0 million, and net inc…

Commodities 2026-09-10
Osisko Gold Royalties: revenue more than doubled, but the entire gain went into a $283m royalty acquisition

Osisko Gold Royalties reported second-quarter 2026 results. Revenue rose 126.4% year on year to $97.8m, EBITDA by 149.7% to $88.2m, and net profit by 165.1% to $61.4m. The EBITDA m…

Commodities 2026-09-10
Cleveland-Cliffs: loss cut threefold, but debt still 27.6x LTM EBITDA

On 23 July Cleveland-Cliffs reported second-quarter 2026 results. Revenue rose 5.9% year on year to $5,226 million, adjusted EBITDA came in at $286 million against $94 million a ye…

Commodities 2026-09-10
Warrior Met Coal: profit up 15.6x, but volumes from Blue Creek, not price, drove revenue

On August 5, Warrior Met Coal reported second-quarter 2026 results. Revenue rose 71.3% year over year to $509.7 million, adjusted EBITDA jumped 207.8% to $152.8 million, and net in…

Commodities 2026-09-10
Core Natural Resources: profit up 4.5x, but half the quarter came from an insurance payout, not coal

On 6 August Core Natural Resources reported second-quarter 2026 results. Revenue added 3.5% year on year to $1,141.0m, adjusted EBITDA jumped 130.4% to $323.6m, and net income came…

Commodities 2026-09-10
UFP Industries: revenue grew for the first time in a year, but acquisitions did the work while profit fell 17.7%

On July 29 UFP Industries reported second-quarter 2026 results. Revenue rose 2.6% year on year to $1,882.9 million – the first increase since early 2025 – but organic sales added o…

Commodities 2026-09-10
Calumet: revenue up 40.8%, but the quarterly loss was entirely non-cash

On 7 August Calumet reported second-quarter 2026 results. Revenue rose 40.8% year on year to $1,445.1 million, Adjusted EBITDA with Tax Attributes reached $175.2 million versus $76…

Commodities 2026-09-10
CVR Energy: revenue up 55.5%, but one-offs and fertilizer carried the entire quarter

On July 29 CVR Energy reported second-quarter 2026 results. Revenue rose 55.5% year on year to $2,738 million, adjusted EBITDA came in at $209 million versus $99 million a year ear…

Commodities 2026-09-10
Delek US: Q2 2026 profit returned, but the year-on-year swing came from one quarter, not durable growth

Delek US reported Q2 2026 results. Revenue rose 47.8% year on year to USD 4,087.0m, EBITDA reached USD 418.1m versus USD 60.6m a year earlier, and net profit was USD 169.5m against…

Commodities 2026-09-10
Par Pacific: profit up eightfold, but half the quarter came from a Hawaii price lag

On 5 August Par Pacific reported second-quarter 2026 results. Revenue rose 56.8% year on year to $2,968.9 million, EBITDA by 334.5% to $671.1 million, and net profit by 677.2% to $…

Commodities 2026-09-10
Ero Copper: revenue up 73.9% but profit up only 26.9% as margin compressed

Ero Copper reported second-quarter 2026 results. Revenue rose 73.9% year on year to $284.3m, EBITDA jumped 101.3% to $145.5m, while net profit added only 26.9% to $89.5m. The EBITD…

Commodities 2026-09-10
Valvoline: revenue up 24% but EPS lagged and net debt stands at 4.05x LTM EBITDA

On August 5, Valvoline reported results for the third quarter of fiscal 2026. Revenue rose 24.1% year on year to $544.6 million, adjusted EBITDA grew 25% to $162.4 million, and net…

Commodities 2026-09-10
Alamos Gold: profit up 69.6%, but cash flow did not keep pace

Alamos Gold reported second-quarter 2026 results. Revenue rose 35.6% year on year to $594.1 million, EBITDA by 51.3% to $406.8 million, and net profit by 69.6% to $270.4 million. T…

Commodities 2026-09-10
Fortuna Mining: profit doubled, but free cash flow was eaten by rising capex

On August 25, Fortuna Mining reported results for the second quarter of 2026. Revenue rose 38.2% year-on-year to $318.4 million, EBITDA – by 55.1% to $207.2 million, net profit – b…

Commodities 2026-09-10
Peabody Energy: revenue up 12.7% but EBITDA down 56.4% as Centurion weighs on profit

On July 29, Peabody Energy released its second-quarter 2026 results. Revenue rose 12.7% year-on-year to $1,003.2 million, but adjusted EBITDA fell 56.4% to $24.0 million, and the n…

Commodities 2026-09-10
Alliance Resource Partners: profit up a third, but royalties, not coal, did the lifting

On July 27 Alliance Resource Partners reported results for the second quarter of 2026. Revenue added 0.7% year on year to **$551.6 million**, net income rose 33.9% to **$79.6 milli…

Commodities 2026-09-10
Endeavour Silver: Q2 2026 profit rose to $66.5 million, but cash flow lags EBITDA

On August 29, Endeavour Silver released its Q2 2026 results. Revenue rose 139.4% year-on-year to $212.1 million, EBITDA jumped 773.7% to $90.8 million, and net profit reached $66.5…

Commodities 2026-09-10
Gulfport Energy: revenue fell 27.8%, but cash remained – free cash flow holds at $6.4 million

On August 3, Gulfport Energy released its second-quarter 2026 results. Revenue fell 27.8% year-on-year to $323.2 million, EBITDA declined 44.8% to $200.2 million, and net income dr…

Commodities 2026-09-10
Taseko Mines: revenue nearly tripled, but profit rose only 3.4% – costs consumed the growth

Taseko Mines reported second-quarter 2026 results. Revenue jumped **189.8%** year on year to **$240.8 million**, EBITDA soared **870.0%** to **$104.6 million**, but net profit adde…

Commodities 2026-09-10
Black Stone Minerals: a third of Q2 profit is an unrealised hedge revaluation while production declines

On 4 August Black Stone Minerals reported second-quarter 2026 results. Revenue fell 23.4% year on year to $122.1 million, EBITDA declined 29.5% to $92.6 million and net income slip…

Commodities 2026-09-10
Talos Energy: $149.7m profit on $664.8m revenue – but the stock trades below its own history

On August 4, Talos Energy reported second-quarter 2026 results. Revenue rose 56.5% year on year to $664.8m, adjusted EBITDA reached $402.2m, and net income was $149.7m versus a $18…

Commodities 2026-09-10
Silvercorp Metals: profit tripled, but the entire quarterly cash flow went into construction

Silvercorp Metals reported results for the first quarter of fiscal 2026. Revenue rose 70.5% year on year to $138.7 million, EBITDA jumped 111.3% to $85.1 million, and net profit su…

Commodities 2026-09-10
BRF S.A.: double-digit revenue growth, but quarterly profit and margin declined

BRF S.A. reported second-quarter 2026 results. Revenue rose 14.1% year on year to USD 3,144.4 million, EBITDA added 10.3%, while net profit fell 18.6% to USD 107.3 million. The EBI…

Commodities 2026-09-10
Curaleaf Holdings: profit returned, but it was made by a tax benefit, not by sales

On August 6, Curaleaf Holdings reported results for the second quarter of 2026. Revenue rose 8.1% year on year to $340.1 million, adjusted EBITDA – by 18.4% to $70.1 million, and n…

Commodities 2026-09-10
NGL Energy Partners: revenue up 59.1%, but margin compressed and leverage at 8.27x EBITDA

NGL Energy Partners reported results for the first quarter of 2026. Revenue rose 59.1% year-on-year, EBITDA added 26.8%, net profit – 14.2%. However, EBITDA margin fell to 21.4% fr…

Commodities 2026-09-10
Vermilion Energy: profit is back, but higher debt absorbed half of quarterly EBITDA

On 25 August Vermilion Energy reported results for the second quarter of 2026. Revenue rose 21.3% year on year to USD 410.1 million, EBITDA added 34.2% to USD 218.7 million, and ne…

Commodities 2026-09-10
Green Thumb Industries: revenue grows for a fourth straight quarter, but EBITDA falls 23% on one-off licensing fees and higher personnel costs

On August 4, Green Thumb Industries reported second-quarter 2026 results. Revenue rose 4.6% year over year to $306.7 million, net income was $4.9 million versus a loss a year earli…

Commodities 2026-09-10
CSN: revenue up 16.1% but EBITDA down 23% – net loss widens and net debt reaches $7.7bn

CSN reported second-quarter 2026 results. Revenue rose 16.1% year on year to $2,226.5m, but EBITDA fell 23.0% to $371.6m and the net loss widened to $152.2m. The EBITDA margin comp…

Commodities 2026-09-10
Trulieve Cannabis: revenue is falling while a one-off $406m loss wipes out profit

Trulieve Cannabis reported second-quarter 2026 results. Revenue fell 10.3% year on year to $270.952m, EBITDA declined 9.9% to $73.952m, and the net loss was $405.975m versus a $16.…

Commodities 2026-09-10
Innovative Industrial Properties: profit jumped 68%, but the gain came from an asset sale and one-off recoveries, not from rent

On 3 August Innovative Industrial Properties reported results for the second quarter of 2026. Revenue added just **0.7%** year on year, to **$63.3 million**, while net profit rose …

Commodities 2026-09-10
REX American Resources: Q2 profit up 5.7x, but $18.4m of it came from the 45Z tax credit

On 2 September REX American Resources reported results for the second quarter of fiscal 2026. Revenue rose 6.3% year on year to $168.5m, EBITDA jumped 194.3% to $42.1m, net profit …

Commodities 2026-09-10
Dorchester Minerals: revenue jumped 73% but cash flow lagged

On August 13, Dorchester Minerals reported second-quarter 2026 results. Revenue rose 73.1% year on year to $56.075 million, EBITDA increased 73.0% to $46.671 million, and net profi…

Commodities 2026-09-10
Kimbell Royalty Partners: record quarter delivered $47.3m net income, but half of revenue came from one-off items

On August 7, Kimbell Royalty Partners reported Q2 2026 results. Revenue rose 30.0% year-on-year to $112.5m, adjusted EBITDA – 24.4% to $84.9m, net income – 77.3% to $47.3m. However…

Commodities 2026-09-10
Kosmos Energy: $185m Q2 2026 profit, but $117m of it went to hedge settlements

On 3 August Kosmos Energy reported Q2 2026 results. Revenue rose 54.7% year on year to $607.3m, EBITDA jumped 356.5% to $408.1m, and net income was $185m versus a $87.7m loss a yea…

Commodities 2026-09-10
Genco Shipping & Trading: profit up 2.4x, but a $13.1 million one-off ate into it

On August 5, Genco Shipping & Trading reported second-quarter 2026 results. Revenue rose 68.5% year-on-year to $136.4 million, EBITDA jumped 218.3% to $44.2 million, and net income…

Commodities 2026-09-10
Lithium Americas: Q2 loss turned into profit, but it came from derivative revaluation, not the project

On August 13, Lithium Americas reported Q2 2026 results. The company posted net income of $2.2 million versus a $12.4 million loss a year earlier, but operating loss widened to $15…

Commodities 2026-09-10
Riley Exploration Permian: profit tripled, but half of it came from derivative revaluation, not production

On August 5, Riley Exploration Permian released its second-quarter 2026 results. Revenue rose 94.2% year on year to $165.9 million, EBITDA – by 131.7% to $111.9 million, net profit…

Commodities 2026-09-10
CrossAmerica Partners: revenue up 22.6% but profit fell – last year's gain came from real estate sales

On 5 August CrossAmerica Partners reported second-quarter 2026 results. Revenue rose 22.6% year on year to $1,179.0 million, adjusted EBITDA reached $51.8 million, while net income…

Commodities 2026-09-10
Daqo New Energy: Q2 2026 revenue fell 17% year on year while EBITDA remains negative

Daqo New Energy reported Q2 2026 results. Revenue came in at $62.7 million, down 17.0% year on year, while EBITDA was negative at -$98.1 million and net profit also negative at -$8…

Commodities 2026-09-10
Tronox Holdings: revenue up 18.7%, but the entire gain went into a loss on a tax valuation allowance

On August 6, Tronox Holdings reported second-quarter 2026 results. Revenue rose 18.7% year on year to $868 million, adjusted EBITDA jumped 87.2% to $73 million, but the net loss wi…

Commodities 2026-09-10
Hallador Energy: Q2 loss wiped out a year of profit, but $2.4bn of contracts and an $800m project change the bet

On 10 August Hallador Energy reported second-quarter 2026 results. Revenue fell 1.3% year on year to $101.5m, adjusted EBITDA turned negative at $2.9m against $3.4m a year earlier,…

Commodities 2026-09-10
Ramaco Resources: loss narrowed, but the value came from rare earths, not coal

On 4 August Ramaco Resources reported second-quarter 2026 results. Revenue fell 5.3% year on year to $144.8 million, the net loss was $15.4 million, and reported EBITDA stayed nega…

Commodities 2026-09-10
VAALCO Energy: Q2 profit was almost entirely assembled by a hedge reversal, not by production

On 6 August VAALCO Energy released its second-quarter 2026 results. Revenue rose 39.5% year on year to $135.2 million, EBITDA by 71.4% to $77.9 million, net profit fivefold to $42.…

Commodities 2026-09-10
GeoPark: revenue up 54% but EBITDA halved as margin collapsed from 60.2% to 21.1%

On 26 August GeoPark reported second-quarter 2026 results. Revenue rose 54.0% year on year to $184.5m, but EBITDA fell 46.0% to $84.0m and the EBITDA margin compressed from 60.2% t…

Commodities 2026-09-10
Intrepid Potash: profit up 4.8x, but $13.2m of it came from the Intrepid South sale, not fertiliser

On 4 August Intrepid Potash reported second-quarter 2026 results. Revenue fell 6.7% year on year to $66.7m, but EBITDA jumped 58.4% to $17.5m and net profit rose 4.8x to $15.6m. Th…

Commodities 2026-09-10
SandRidge Energy: profit rose 36.5%, but it was oil prices, not volumes, that delivered it

On 5 August SandRidge Energy reported results for the second quarter of 2026. Revenue rose 48.0% year on year to $51.1 million, adjusted EBITDA by 19.7% to $34.0 million, and net i…

Commodities 2026-09-10
Caledonia Mining: revenue and EBITDA hit new highs, but profit stays flat year on year

Caledonia Mining has reported its results for the second quarter of 2026. Revenue rose 16.2% year on year to USD 75.9 million, EBITDA added 6.0% to USD 42.0 million, and net profit…

Commodities 2026-09-10
Gran Tierra Energy: profit is back, but it came from prices, not production

On 5 August Gran Tierra Energy reported second-quarter 2026 results. Revenue rose 22.8% year on year to $187.2 million, adjusted EBITDA by 40.5% to $85.1 million, and net income re…

Commodities 2026-09-10
PrimeEnergy Resources: revenue returns to growth, but Q2 profit leans on last year's low base

On 6 August PrimeEnergy Resources reported results for the second quarter of 2026. Revenue added 1.2% year on year to USD 42.5m, EBITDA declined 3.9% to USD 24.0m, while net profit…

Commodities 2026-09-10
Ring Energy: Q2 profit is $42.2m paper gain, free cash flow just $4.4m

On 5 August Ring Energy reported second-quarter 2026 results. Revenue rose 26.7% year on year to $104.7m, net income reached $64.8m against $20.6m a year earlier, but $42.2m of tha…

Commodities 2026-09-10
NACCO Industries: a $12m solar write-off ate the Q2 profit, and net debt rose to $74.6m

On 5 August NACCO Industries reported second-quarter 2026 results. Revenue rose 6.0% year on year to $72.31m, but EBITDA turned negative at -$4.49m against +$6.04m a year earlier, …

Commodities 2026-09-10
Cresco Labs: revenue grew for the first time in a year, but the quarter's profit was not made by sales

Cresco Labs reported second-quarter 2026 results. Revenue rose 5.9% year on year to USD 173.3m – the first increase after five quarters of decline. EBITDA, however, fell 32.7% to U…

Commodities 2026-09-10
Gold Resource Corporation: quarterly revenue up 88%, but a $6.1m loss wiped out the entire operating result

Gold Resource Corporation reported second-quarter 2026 results. Revenue rose 88.0% year on year to $21.1m, EBITDA came in at $3.0m, and net profit was negative at –$6.1m. The EBITD…

Commodities 2026-09-10
Amplify Energy: Q2 profit of $22.6m is a non-cash hedge revaluation, not cash

On 10 August Amplify Energy reported second-quarter 2026 results. Revenue fell 22.9% year on year to $52.7m, EBITDA dropped 61.5% to $28.1m, yet net profit rose 171.0% to $17.3m — …

Commodities 2026-09-10
Epsilon Energy: Q2 2026 profit nearly quintupled, but half of it is eaten by the gap between paper and cash returns

Epsilon Energy released its Q2 2026 results in 2026. Revenue rose 57.1% year on year to $18.3m, EBITDA jumped 177.5% to $11.2m, and net profit surged 359.8% to $7.1m. The EBITDA ma…

Commodities 2026-09-10
Evolution Petroleum: the $8.9m loss is mostly unrealised hedges, not a collapsing business

On 12 May Evolution Petroleum released results for its fiscal third quarter of 2026, ended 31 March. Revenue fell 10.6% year on year to $20.2m, reported-period EBITDA dropped 28.2%…

Commodities 2026-09-10
Aemetis: first operating profit, but it is entirely made of the Section 45Z tax credit

On 6 August Aemetis reported results for the second quarter of 2026. Revenue rose 20% year on year to $62.7 million, adjusted EBITDA came in at $9.7 million against negative $5.8 m…

Commodities 2026-09-10
Martin Midstream Partners: profit returned, but almost all of it came from asset sales

On July 22, Martin Midstream Partners reported second-quarter 2026 results. Revenue rose 18.2% year on year to $213.6 million, adjusted EBITDA added 1.4% to $27.9 million, and net …

Commodities 2026-09-10
PEDEVCO: Q2 2026 profit came from a $13.1m hedge mark-to-market gain, not operations

On 13 August PEDEVCO released its Q2 2026 results. Revenue rose 561.4% year on year to $46.1m, adjusted EBITDA was up 516% to $18.7m, and net income reached $17.5m against a $1.7m …

Commodities 2026-09-10
US Energy: revenue is falling more slowly, but the loss per dollar of revenue is growing

On 25 April US Energy released its first-quarter 2026 results. Revenue fell 26.9% year on year to $1.604 million, EBITDA remained negative at –$2.585 million, and the net loss was …

Commodities 2026-09-10
Alpha Metallurgical Resources: Q2 2026 loss narrowed to $12.3 million, but the company cut sales guidance and raised costs

On July 27, Alpha Metallurgical Resources released preliminary results for the second quarter of 2026. Revenue fell 10.7% year-on-year to $491.5 million, adjusted EBITDA dropped 46…

Commodities 2026-09-10
Mercer International: loss narrowed to $76 million, but $29 million of it is a non-cash inventory write-down and net debt reached $1.58 billion

On August 6, Mercer International reported second-quarter 2026 results. Revenue came in at $460.3 million, up 1.5% year on year; operating EBITDA remained negative at -$21.0 millio…

Commodities 2026-09-10
Mexco Energy: profit doubled, but it came from the oil price, not from production

On 12 August Mexco Energy reported results for the first quarter of fiscal 2027 (quarter ended 30 June 2026). Revenue rose 9.3% year on year to $1.98 million, EBITDA – by 15.9% to …

Commodities 2026-09-10
Battalion Oil: profit tripled, but it came from a paper hedge revaluation, not the business

On August 12, Battalion Oil released its second-quarter 2026 results. Revenue rose 12.1% year on year to $48.1 million, adjusted EBITDA fell 10.8% to $12.3 million, and net profit …

Commodities 2026-09-10
Houston American Energy: revenue quadrupled, but losses and debt consumed the entire gain

On August 25, Houston American Energy released its second-quarter 2026 results. Revenue grew **304.4%** year-on-year to **$1.96 million**, but EBITDA remained negative at **-$3.32 …

Commodities 2026-09-10
Barnwell Industries: loss narrowed threefold, but one-off cost savings carried it, not revenue

On 11 August Barnwell Industries reported results for its third fiscal quarter ended 30 June 2026. Revenue rose 5.9% year on year to $3.379 million, the first growth in six quarter…

KZ 2026-09-10
Freedom Holding: revenue up 40% but profit fell on insurance and other segment losses

On August 10, Freedom Holding Corp. (FRHC) reported results for the first quarter of fiscal 2027 (quarter ended June 30, 2026). Revenue rose 40% year-on-year to **$732.5 million**,…

MX 2026-09-10
MX_OMA: portfolio grows, but the dividend yield is not what it used to be

— Quarterly revenue grew 8.2% YoY to MXN 3,816.4 million, driven by higher traffic and rental rates…

MX 2026-09-10
MX_BBAJIO: Q1 2026 net profit rises on higher net interest income, but dividend yield remains attractive

On August 25, MX_BBAJIO reported Q1 2026 results: net profit of **2,041.5 million MXN** and net interest income of **6,127.9 million MXN**. Return on equity over the trailing twelv…

MX 2026-09-10
Orbia: quarterly profit returns to black, but shares still trade at 58% discount to fair value

On July 22, Orbia reported Q2 2026 results: revenue grew 20% to **$2,352 million**, EBITDA rose 56% to **$467 million**, and net profit reached **$15 million** versus a loss a year…

ZA 2026-09-10
Kumba Iron Ore: profit down 41.7% on lower iron ore prices, but dividend yield remains high

On August 25, Kumba Iron Ore reported results for the first half of 2026. Revenue fell 10.6% year on year, EBITDA dropped 26.8%, and net profit declined 41.7%. At the current price…

ZA 2026-09-10
Pepkor: revenue up 13.2%, but margin compression is not accidental

On March 31, 2026, Pepkor released its results for the first half of fiscal 2026. Revenue grew 13.2% year on year, EBITDA 11.6%, and net profit 9.8%. However, EBITDA margin fell fr…

ZA 2026-09-10
Clicks: H1 2026 profit up 6.6%, but dividend yield of 4.75% remains the key argument

On 28 February 2026, Clicks Group released its results for the first half of fiscal 2026. Revenue rose 7.4% to ZAR 49,500 million, EBITDA increased 8.1% to ZAR 6,324.9 million, and…

ZA 2026-09-10
Redefine: H1 profit up 2.4x, but almost all of it is from revaluation, not operations

On August 25, Redefine released results for the first half of fiscal 2026. Net profit jumped 140.9% YoY to ZAR 6,236 million, but EBITDA rose only 4.7%, with EBITDA margin expandin…

ZA 2026-09-10
Mr Price: profit grows, but cash goes to dividends and debt

On August 25, Mr Price reported results for fiscal year 2026: revenue grew 4.1%, EBITDA – 5.2%, net profit – 2.3%. The company remains with net cash and pays generous dividends. Th…

ZA 2026-09-10
Tiger Brands: profit down 21.6%, but EBITDA up 19.5% — dividend yield of 16.4% supports shares

On August 25, Tiger Brands reported results for the first half of 2026. Revenue grew 1.3%, EBITDA rose 19.5%, but net profit fell 21.6% due to one-off items. At the current price, …

ZA 2026-09-10
African Rainbow: profit up 12-fold, but almost all is a paper revaluation effect

On August 25, African Rainbow reported results for the fiscal year ended June 30, 2026: revenue up 30.8%, EBITDA up 21-fold, net profit up 12-fold. However, almost all of the profi…

ZA 2026-09-10
Woolworths: revenue grows, but net profit falls — margin under pressure

— Revenue grew 4.2%, but net profit fell 5.1% — margin compressed…

ZA 2026-09-10
AVI: modest growth, generous dividend — shares yield 7.7%

On August 25, AVI released results for the fiscal year ended June 30, 2026. Revenue grew 1.4%, EBITDA 3.8%, net profit 5.5%. At the current price, the share looks attractive thanks…

ZA 2026-09-10
Resilient: H1 profit up 57.3%, but cash flow remains negative

For H1 2026, Resilient's net profit was 1,660.0 million (estimated), up 57.3% from the same period a year earlier. Revenue for the half-year rose 5.7% to 4,000.0 million, providing…

ZA 2026-09-10
Netcare: double-digit profit growth, but debt and dividends demand attention

On August 25, Netcare released its results for the first half of 2026. Revenue grew by 4.8% year-on-year, EBITDA by 7.5%, and net profit by 12.8%. The EBITDA margin rose to 16.9%, …

ZA 2026-09-10
Life Healthcare: 6.1% net margin versus a loss a year ago, but debt and dividend need scrutiny

On 25 May Life Healthcare released its results for the first half of fiscal 2026. Revenue rose 2.3% year on year, EBITDA grew 6.0%, and net margin reached 6.1% versus a loss-making…

ZA 2026-09-10
TFG: revenue up 7.1% but profit down 58.7% – margin halved

TFG has released its FY 2026 results. Revenue grew 7.1% year-on-year, but EBITDA fell 19.9% and net profit collapsed 58.7%. The EBITDA margin declined to 7.6% from 10.1%, and the n…

ZA 2026-09-10
Truworths: revenue flat, EBITDA down a fifth as margin contracts 4.5 points

Truworths has reported FY 2026 results. Revenue added just **0.1%** year on year, EBITDA fell **20.2%**, and net profit declined **4.6%**. The EBITDA margin contracted from 22.3% t…

ZA 2026-09-10
Pick n Pay: revenue up 1% but EBITDA margin stuck at 2.3% – no profit

On 25 August, Pick n Pay released its results for the 2026 financial year. Revenue grew 1.0% year-on-year, EBITDA declined 0.7%, and the EBITDA margin remained at 2.3%. The net los…

ZA 2026-09-10
Sappi: Q3 2026 loss narrowed to $181m, but EBITDA remains negative

Sappi released its third-quarter 2026 results. Revenue came in at $1,334m, up 1.0% year on year, but EBITDA remained negative at -$108m versus +$88m a year earlier. The net loss na…

ZA 2026-09-10
Spar: revenue up 3.6% but EBITDA down 47.2% – margin compressed from 3.7% to 1.9%

On 27 March 2026, Spar released its results for the first half of fiscal 2026. Revenue rose 3.6% year on year, but EBITDA fell 47.2%, and the EBITDA margin narrowed from 3.7% to 1.…

ZA 2026-09-10
Old Mutual: H1 profit fell 5.2%, but the dividend rose 8% — and that is what matters for a holder

On 8 September Old Mutual released its results for the first half of 2026. Revenue fell 6.4% and net profit 5.2% year on year, yet the interim dividend was raised 8% to 40 cents pe…

ZA 2026-09-10
Growthpoint: profit up 38.7% while revenue fell 5% and cash flow nearly vanished

Growthpoint's FY 2026 report shows a divergence between profit and cash flow: revenue fell 5.0%, but EBITDA rose 31.1% and net profit jumped 38.7%. The EBITDA margin reached 99.6% …

AU 2026-09-10
Fortescue: profit falls faster than EBITDA, but net debt is near zero and dividend yield is 6.1%

— Revenue grew 9.2%, but EBITDA fell 3.7% — margin compressed from 49.0% to 43.2%…

AU 2026-09-10
Santos: profit falls faster than revenue, and the portal's model sees 42% downside

On August 25, Santos reported results for the first half of 2026: revenue rose 1.6% to $5,000 million, but EBITDA fell 17.6% and net profit dropped 19.1%. Given the weak dynamics a…

AU 2026-09-10
South32: profit up 5x, but operating cash flow trails EBITDA

— Net profit up 5x thanks to one-offs, not operational dynamics…

AU 2026-09-10
Pilbara: AUD 525.8m trailing profit, negative net debt, and a 20.6x EV/EBITDA valuation

Pilbara's FY 2026 report showed revenue of AUD 1,500.0m, up 73.0% year on year, and EBITDA of AUD 720.4m, up 262.3%. The EBITDA margin reached 46.8% versus 22.3% a year earlier, wh…

AU 2026-09-10
Lynas: profit up 27-fold, but the multiple is already twice its own history

Lynas reported FY 2026 results. Revenue rose 80.2% year on year, EBITDA — 184.7%, net profit — 2682.9%. EBITDA margin reached 29.8% versus 18.9% a year earlier, net margin — 22.7% …

AU 2026-09-10
Mineral Resources: profit is back, but half of EBITDA is yet to become cash

Mineral Resources' FY 2026 report showed a sharp turnaround: revenue rose 44.5% year on year, EBITDA jumped 232.4%, and net margin swung from minus 20.2% to plus 16.4%. Over the tr…

AU 2026-09-10
Sandfire: profit nearly quadrupled, but net debt is negative and the market has already priced in high copper prices

Sandfire has released its FY 2026 results. Revenue rose 38.9% year-on-year, EBITDA – by 57.6%, net profit – by 281.6%. EBITDA margin reached 51.6% versus 45.5% a year earlier, net …

AU 2026-09-10
Genesis: FY 2026 profit up 2.7x, but the portal's model sees the shares 34% overvalued

Genesis's FY 2026 report showed revenue of AUD 1,700.0m (+89.4% YoY), EBITDA of AUD 945.1m (+104.0%) and net profit of AUD 601.8m (+172.1%). The EBITDA margin reached 54.2% versus …

AU 2026-09-10
IGO: FY2026 profit exists but was not earned, and revenue is falling

IGO's FY2026 report, for the year ended 30 June, shows revenue of **AUD 462.9 million**, down 9.7% year on year. Yet net profit for the reported period was **145.3 million** and EB…

UAE 2026-09-10
ADNOC Drilling: revenue growth slowed to 2.9%, but EBITDA margin held at 44.5%

— Revenue in Q2 2026 grew only 2.9% – the slowest pace in the last four quarters…

UAE 2026-09-10
Abu Dhabi Islamic Bank: net profit grows at double-digit pace, but shares are priced without a margin of safety

In Q2 2026, Abu Dhabi Islamic Bank's net interest income reached **AED 3,145.2 million**, up **9.9%** year-on-year. This continues a steady trend: previous quarters also saw double…

UAE 2026-09-10
Borouge: Q2 revenue up 7.7%, but EBITDA down 10.5% — margin squeezed by higher costs

— Q2 revenue grew 7.7% after two quarters of decline…

UAE 2026-09-10
Aldar Properties: revenue growth slowed to +4.8%, but EBITDA margin rose to 32.6% — with debt doubling over the year

On August 25, Aldar Properties reported results for the second quarter of 2026. Revenue grew **4.8%** year on year, EBITDA **19.1%**, net profit **9.9%**. EBITDA margin reached **3…

UAE 2026-09-10
Dubai Islamic Bank: net profit almost flat, but net debt turned negative

On August 25, Dubai Islamic Bank reported results for the second quarter of 2026. Net profit for the quarter was **AED 1,855.9 million**, down **0.1%** year-on-year. Net interest i…

UAE 2026-09-10
du (EITC): growth slowed, but margin expanded — cash flow turned negative

— du (EITC) revenue grew 4.6% in Q2 — the slowest in five quarters…

UAE 2026-09-10
Emaar Development: profit grows faster than revenue, but cash flow lags

— Revenue in Q2 2026 grew 32.1% YoY to AED 6,480.3 million…

UAE 2026-09-10
ADNOC Distribution: quarterly revenue up 52.8% — but that's a one-off inclusion, not organic growth

— Q2 revenue up 52.8% — driven by inclusion of new assets, not organic growth…

UAE 2026-09-10
Salik: revenue falls for a second straight quarter, while dividend yield stays modest

— Revenue in Q2 fell 12.0% YoY – the second consecutive quarterly decline after a long growth streak…

UAE 2026-09-10
Talabat: revenue up 16.3%, but margins compress and the portal's model sees -12%

On August 25, Talabat reported Q2 2026 results. Revenue grew **16.3%** YoY to **$1,141.1 million**, but EBITDA fell **12.4%** and net profit **17.9%**. At the current price, the sh…

UAE 2026-09-10
Fertiglobe: revenue doubled in the quarter, but taxes and one-offs eat the entire profit growth

In Q2 2026, Fertiglobe's revenue reached USD 1,085.9 million, up 91.9% year-on-year. This is the fourth consecutive quarter of acceleration: growth accelerated from +14.1% in Q2 20…

UAE 2026-09-10
Air Arabia: revenue almost flat, but EBITDA plunged 49.9% — margin halved

On August 25, Air Arabia reported results for the second quarter of 2026. Revenue was AED 1,688.6 million, down 0.2% year-on-year, EBITDA fell 49.9% to AED 228.3 million, and net p…

UAE 2026-09-10
Americana: profit up 40%, but all of the growth came from one-offs

Americana reported Q2 2026 results. Revenue rose 11.1% YoY to $714.8 million, EBITDA – 21.9% to $183.1 million, net profit – 40.3% to $83.9 million. EBITDA margin improved to 25.6%…

UAE 2026-09-10
Parkin: revenue growth slowed to 13.6%, but profit and dividends support the valuation

On August 25, Parkin released its Q2 2026 results. Revenue grew 13.6% year-on-year to AED 359.7 m, EBITDA – by 15.1% to AED 213.2 m, net profit – by 12.0% to AED 166.2 m. The EBITD…

UAE 2026-09-10
TECOM: double-digit revenue growth but profit and margin lag behind

TECOM reported results for the second quarter of 2026. Revenue rose 10.8% year-on-year to AED 785.7 mn, EBITDA added 8.8%, and net profit grew 6.6%. Revenue growth slowed from 21.5…

UAE 2026-09-10
Spinneys: revenue turns negative for the first time in a year, but profit rises on margin and a low base

On 25 August Spinneys released its second-quarter 2026 results. Revenue declined 1.6% year on year to AED 895.1 million, EBITDA added 0.6% to AED 183.1 million, and net profit rose…

INN9703017043 2026-09-10
Invest KC / Korund-Cian: bond issuer credit review (Sep 2026)
US 2026-09-09
The AI boom in numbers: semiconductors +92%, memory up 3.5x. Which of the 29 names in the chain looks best

The global semiconductor market has almost doubled in a year: 809bn dollars in 2025 against a forecast of 1.51-1.56 trillion for 2026. Memory inside it grew 3.5 times, from roughly…

US 2026-09-09
WESTERN DIGITAL CORP: quarterly profit up 11-fold, but almost all of it is paper

— Revenue grew 44% driven by demand for AI and cloud storage products…

US 2026-09-09
NEXTERA ENERGY INC: Q2 profit up 55%, but all growth is eaten by rising debt

On July 24, NEXTERA ENERGY INC reported Q2 2026 results. Revenue grew 17.7% YoY to **$7,534 million**, net profit rose 55% to **$3,144 million**, but almost all profit growth came …

US 2026-09-09
BOEING CO: revenue grows, but profit remains negative — recovery is slower than hoped

On July 28, 2026, BOEING CO reported results for the second quarter of 2026. Revenue increased by 8.0% year-over-year to **$24,560 million**, but net loss was **$444 million**, alt…

US 2026-09-09
TJX COMPANIES INC /DE/: profit up 22%, but shares down 16% after the report — the market doubts margin sustainability

On August 19, 2026, TJX COMPANIES INC /DE/ reported results for the second quarter of fiscal 2027 (ended August 1, 2026). Revenue grew 5.4% to **$15,180 million**, net profit rose …

US 2026-09-09
INTUITIVE SURGICAL INC: revenue up 19%, but shares down 9% after earnings

— Q2 revenue up 18.5% on procedure growth and a larger installed base…

US 2026-09-09
Canadian Natural Resources Limited: revenue doubled in the quarter, but EBITDA margin fell by 8.7 pp

— Revenue doubled thanks to the Peace River acquisition and higher oil prices…

US 2026-09-09
Cloudflare: revenue accelerates to +36%, but restructuring eats profit and flips cash flow

— Revenue accelerated to +35.9% driven by large customer growth and platform model…

US 2026-09-09
Robinhood Markets, Inc.: record revenue and profit, but the market focuses on slowing EBITDA margin

On July 29, 2026, Robinhood Markets, Inc. reported results for the second quarter of 2026. Revenue rose 32.3% to a record $1,308 million, net profit increased 45.3% to $561 million…

Commodities 2026-09-09
Exxon Mobil: Q2 profit up 30.5%, but shares trade at twice their three-year average multiple

On July 31, Exxon Mobil reported Q2 2026 results: revenue rose 9.7% year on year to $89,420 million, net profit jumped 30.5% to $9,240 million. Despite the strong quarter, the stoc…

Commodities 2026-09-09
Chevron: Q2 profit up nearly fivefold, but the portal's model sees a third downside

On July 31, Chevron reported Q2 2026 results: revenue rose 49.9% YoY to $67.2 billion, net profit jumped 384.8% to $12.1 billion. Growth was driven by higher oil prices, record US …

Commodities 2026-09-09
Industrias Peñoles: Q2 2026 revenue up 38.9%, EBITDA margin at 50.4%

— Q2 2026 revenue grew 38.9% YoY driven by high metal prices…

Commodities 2026-09-09
Petrobras: Q2 2026 profit up 115%, but the portal's model sees 57% downside

Petrobras reported Q2 2026 results: revenue up 56.2% YoY to $33.4 billion, EBITDA up 100.4%, net profit up 115.3%. The stock trades at 8.2x EV/EBITDA versus its 3-year average of 5…

Commodities 2026-09-09
BHP Group: double-digit revenue and EBITDA growth, but net profit falls on one-offs

On August 25, BHP Group reported results for the second quarter of fiscal 2026. Revenue rose 18.3% year on year to $30,858 million, EBITDA grew 25.9% to $16,655 million, but net pr…

Commodities 2026-09-09
Southern Copper: record EBITDA and negative net debt, but the valuation is already above its 3-year average

In the second quarter of 2026, Southern Copper's revenue reached **$4,289.0 million** – a new quarterly record. The 40.6% growth year-on-year was driven primarily by prices: LME co…

Commodities 2026-09-09
ConocoPhillips: quarterly profit nearly doubled on prices, but the portal's model sees a 61% downside to fair value

On August 6, 2026, ConocoPhillips reported second-quarter 2026 results. Revenue rose 29.2% year on year to $18,088 million, EBITDA grew 54.8% to $8,962 million, and net profit jump…

Commodities 2026-09-09
Marathon Petroleum: quarterly profit up 4.2x on refining margin spike, but the market has already priced it in

On August 4, 2026, Marathon Petroleum reported second-quarter 2026 results: revenue rose 53.8% YoY to $51,994 million, EBITDA jumped 173.3% to $8,160 million, and net profit surged…

Commodities 2026-09-09
Equinor: Q2 2026 profit up 3.7x, but the portal's model sees 45% downside

— Q2 2026 revenue rose 37.4% YoY to USD 34,523 million – the best quarter in two years…

Commodities 2026-09-09
Freeport-McMoRan: copper prices fell, but production is ramping up — the question is the share price

— Revenue fell 8.8% due to lower copper prices and lower sales volumes in Indonesia…

Commodities 2026-09-09
Phillips 66: quarterly profit up 4.4x, but almost all from one-offs

In Q2 2026, Phillips 66 revenue reached **$51,004 million**, up 53.1% year-over-year. The main driver was the consolidation of 100% of the Borger and Wood River refineries, fully r…

Commodities 2026-09-09
Agnico Eagle Mines: Q2 2026 revenue up 35%, but growth rate halved

On August 25, Agnico Eagle Mines reported results for Q2 2026. Revenue grew 35.0% YoY, EBITDA 46.4%, net profit 49.8%. The shares look attractive: EV/EBITDA is below its own three-…

KZ 2026-09-09
TSMC: quarterly revenue up 36%, profit up 77%, but shares already pricey

On August 25, TSMC reported Q2 2026 results: revenue up 36.0% YoY, net profit up 77.4%, and EBITDA margin at 76.0%. Despite this momentum, shares trade at an EV/EBITDA multiple of …

KZ 2026-09-09
KazMunayGas: profit up 90%, but operating cash flow nearly vanished

On May 29, 2026, KazMunayGas reported first-quarter 2026 results: revenue rose 10.7% to KZT 2,481 billion, net profit jumped 89.8% to KZT 373 billion. However, operating cash flow …

KZ 2026-09-09
MediaTek: Q2 revenue up 1.2%, but EBITDA and profit fell by double digits

On August 27, MediaTek reported Q2 2026 results. Revenue grew 1.2% YoY to **TWD 152.2 billion**, but EBITDA fell 15.5% to **TWD 29.7 billion** and net profit dropped 12.6% to **TWD…

KZ 2026-09-09
ASE Technology: Q2 2026 profit up 180%, but the key question is whether cash will cover dividends and capex

— Revenue in Q2 2026 grew 26.7% YoY to TWD 191,064 million, accelerating from 17.2% in Q1…

KZ 2026-09-09
Nanya Technology: quarterly revenue up 684%, and debt turned into a huge net cash position

— Revenue in Q2 2026 grew 684.2% year-on-year to TWD 82,549 million, driven by memory market recovery…

KZ 2026-09-09
United Microelectronics: Q2 net profit up 4.7x, but almost all of it came from a one-off item

— Q2 revenue accelerated to +17.0% YoY, reaching TWD 68,732.7 million…

KZ 2026-09-09
ASBN: net profit down 31.5% despite 71.6% rise in net interest income

In Q1 2026, net interest income reached KZT 410.4 billion over the last 12 months, up 71.6% from the same period a year earlier. This is a significant acceleration compared to 2023…

KZ 2026-09-09
Winbond Electronics: quarterly revenue up 184.7%, EBITDA margin at 56.2% — how sustainable is it?

In Q2 2026, Winbond Electronics' revenue reached **TWD 59.8 billion**, up **184.7%** from the same quarter a year earlier. This continues the acceleration: Q1 2026 saw **91.3%** Yo…

KZ 2026-09-09
KazTransOil: H1 profit up 36%, but the real question is whether cash will cover dividends after capex

On August 28, KazTransOil reported H1 2026 results. Revenue rose 10.3% to KZT 374.2bn, EBITDA grew 15.7%, and net profit jumped 36.3% to KZT 61.0bn. At the current price, the share…

KZ 2026-09-09
AIRA: revenue grows, but costs eat profit – H1 2026 in the red

AIRA reported H1 2026 results: revenue rose 16.1% to **$763.9 million**, but cost growth outpaced revenue, leading to a net loss of **$21 million** versus a profit a year earlier. …

UZ 2026-09-09
UZ_TRUST: profit grows slower than revenue, and that's no accident

— Revenue accelerated to +32.2% in Q1 2026, but margin compressed by 5.1 pp…

UZ 2026-09-09
UZ_HAMKOR: revenue growth accelerated to 19.2%, but profit barely grows — margin under pressure

— Q1 2026 revenue grew 19.2% YoY, accelerating from 16.0% in Q3 2025…

UZ 2026-09-09
UZ_UNIVERSAL: Q1 2026 profit up only 6.6% on revenue +30.9% — margin compressed, yet the stock remains cheap

In late April, UZ_UNIVERSAL reported Q1 2026 results: revenue grew **30.9%** year-on-year to **222,840 million UZS**, while net profit rose only **6.6%** to **77,790 million UZS**.…

ID 2026-09-09
ID_AADI: revenue turned to +21.6% and EBITDA margin jumped to 31.2% — but debt rose

— Q2 revenue grew 21.6% YoY to $1,502.4 million after a 10.3% decline in Q1…

ID 2026-09-09
BCA: H1 net profit nearly flat, but quarterly swings hide resilience

— H1 net profit rose 1.8%, but quarterly swings hide resilience…

ID 2026-09-09
ID_BYAN: profit grows, but valuation is ahead — portal's model sees minus 22%

On August 25, ID_BYAN reported Q1 2026 results: revenue of $821.65 million, net profit of $190.791 million, and EBITDA of $244.794 million. At the current price, the shares look ra…

ID 2026-09-09
Astra International: H1 2026 revenue down 99.9% on one-off charges, but operating profit stays positive

On June 30, 2026, Astra International released its results for the first half of 2026. Revenue fell 99.9% year-on-year to IDR 157,913 million, EBITDA fell 99.9% to IDR 25,428 milli…

ID 2026-09-09
ID_BBNI H1 2026: net profit down 49.5%, but dividend yield stays double-digit

On 30 June 2026, ID_BBNI reported H1 2026 results: net profit of IDR 10,809.6 million, down 49.5% year-on-year. Interest income rose 14.2% to IDR 38,630.2 million, but impairment c…

ID 2026-09-09
Indofood CBP: H1 revenue collapses 99.9% on one-off write-downs, but operating margin holds

— H1 revenue fell 99.9% due to one-off write-downs in Q4 2025, but operating margin remained at 24.2%…

ID 2026-09-09
Unilever Indonesia: sale of ice cream business brings IDR 870bn gain, but operating business stagnates

— Revenue fell 7.2% to IDR 16.9tn in H1 due to weak demand and business disposal…

ID 2026-09-09
ID_GOTO: revenue up 30%, but operating cash flow is nearly zero

On August 25, ID_GOTO reported Q2 2026 results: revenue grew 30.6% YoY to IDR 5,652.8 million, EBITDA rose 289.3% to IDR 402.7 million, and net profit increased 181.6% to IDR 349.5…

ID 2026-09-09
ID_ITMG: Q1 2026 net profit up, but the focus is on free cash flow and dividends

— Q1 2026 revenue rose to $497.6 million, EBITDA margin at 18.0%…

MX 2026-09-09
MX_BANORTE: net profit up 1%, but bank builds provisions and sells Bineo

Bottom line: Banorte's Q1 2026 results show solid growth in net interest income and fees, supported by lower funding costs and consumer lending growth. Provisions rose due to one-o…

MX 2026-09-09
Grupo Carso: revenue falls for a fourth straight quarter, yet net debt drops to 0.61x EBITDA

— Revenue in Q1 2026 fell 4.3% YoY – the fourth consecutive quarter of decline…

MX 2026-09-09
Cemex: EBITDA margin 19.3% in Q1 2026, but cash flow falls short of investments

Cemex reported first-quarter 2026 results: revenue of **$4,019.0 million**, EBITDA of **$794.0 million**, and net profit of **$228.0 million**. Against this backdrop, the shares lo…

MX 2026-09-09
MX_INBURSA: Q1 2026 profit rises on higher net interest income, but ROE remains moderate

— Net interest income in Q1 2026 rose to MXN 23,594.7 million, providing the base for profit…

MX 2026-09-09
MX_GAP: 52.6% margin and 1.79 EBITDA debt – the portal grows, but valuation is no longer cheap

— Quarterly revenue grew 12% YoY to MXN 11,369.6 million, driven by portal model expansion…

MX 2026-09-09
Liverpool: revenue nearly flat, profit down 17.2% as cautious consumer and one-offs bite

In the first quarter of 2026, total revenue was **MXN 45,417.6 million**, down 0.2% year-on-year. The commercial segment (including Liverpool, Suburbia, and others) contracted 1.9%…

MX 2026-09-09
ASUR: first quarter with U.S. concessions — revenue nearly flat, EBITDA and profit down

In the first quarter of 2026, ASUR's total revenue increased only 0.8% year-on-year to **Ps.8,858.0 million**. Growth was driven by Colombia, where passenger traffic rose 11.0%, an…

PH 2026-09-09
PH_ICT: revenue and EBITDA up 26–29%, but quarterly operating cash flow turned negative at $796M

On March 31, 2026, PH_ICT reported results for Q1 2026. Revenue grew 28.9% to **$961.1M**, EBITDA rose 26.2% to **$617.8M**, and net profit increased 20.6% to **$314.7M**. However,…

PH 2026-09-09
SM Prime: revenue almost flat, but EBITDA margin hits 54.7% — a bet on malls and offices

— Q1 2026 revenue grew only 0.9% — hit by slower residential sales…

PH 2026-09-09
PH_MER: revenue grows, but EBITDA declines — margin squeezed amid rising costs

On March 31, 2026, PH_MER reported results for the first quarter of 2026. Revenue grew 5.5% to PHP 120,779 million, but EBITDA declined 5.7% to PHP 14,546 million, while net profit…

PH 2026-09-09
Ayala Corporation: revenue barely grew, while debt added PHP 65.2 billion over the year

— Quarterly revenue barely changed, while EBITDA fell 1.3%…

PH 2026-09-09
Ayala Land: revenue down 13.9%, but profit holds at 17.9% margin

In Q1 2026, Ayala Land's revenue reached **PHP 37.5 billion**, down 13.9% from the same period a year earlier. This is a sharp slowdown after 23.2% growth in Q4 2025, when revenue …

PH 2026-09-09
Jollibee: revenue up 9.1%, but net profit down 43.6% on one-offs and weak operating dynamics

— Q1 2026 revenue grew 9.1% driven by 181 new store openings and positive comparable sales…

PH 2026-09-09
JG Summit: Q1 2026 revenue up 7%, but net income down 27% on FX losses and higher interest costs

On May 13, 2026, JG Summit Holdings reported results for the first quarter of 2026. Consolidated revenue rose 7% year-on-year to PHP 99.9 billion, operating profit increased 9% to …

PH 2026-09-09
PH_DMC: earnings barely moved, but behind them — lower generation and higher debt

— Revenue fell 2.4% due to declines in energy and construction, but growth in real estate and nickel softened the blow…

ZA 2026-09-09
Naspers: revenue up 51%, but EBITDA margin fell to 3.3% and debt is 33.7x EBITDA

— Revenue grew 51.1% driven by acquisitions of Despegar, Just Eat Takeaway.com and La Centrale…

ZA 2026-09-09
Impala Platinum: profit up 40-fold, but the portal's model sees 59% downside

For the reported period (fiscal year ended 30 June 2026), net profit was **ZAR 31,039 million** versus a **0.9%** margin a year earlier. The **3,978.7%** increase is a consequence …

ZA 2026-09-09
Shoprite: profit growth slows, but cash flow and dividends remain strong

On August 25, Shoprite released results for the fiscal year ended June 2026. Revenue rose 7.2%, EBITDA grew 6.9%, and net profit increased 4.7% to ZAR 7,945 million. At the current…

ZA 2026-09-09
Sibanye-Stillwater: EBITDA up 7.5x on metal prices, but portal model sees 64% downside

On August 25, Sibanye-Stillwater reported H1 2026 results: revenue up 64.3% YoY, EBITDA up 7.5x, and net profit of ZAR 16.2bn versus a loss a year earlier. At first glance the repo…

ZA 2026-09-09
Bidvest: revenue grows slowly, but profit and cash flow accelerate

Bidvest reported results for the fiscal year ended June 30, 2026. Revenue grew 2.8%, EBITDA rose 4.3%, and net profit increased 9.5%, to 8,948.6 million over the trailing twelve mo…

ZA 2026-09-09
Sasol: annual profit up 79.5% – but that's base effect and one-offs, not an operational leap

For the reported fiscal year, net profit was **ZAR 12,149 million** versus **ZAR 6,765 million** a year earlier (calculated). The 79.5% growth is impressive, but it is largely due …

ZA 2026-09-09
Investec: profit grows, but 6.1% dividend yield is the main argument

Investec reported results for the fiscal year ended 2026: revenue grew 7.9%, net profit rose 6.1% to ZAR 8,917 million. At the current price, shares trade at a P/E of 14.1, below i…

ZA 2026-09-09
Northam Platinum: profit up 9-fold on record metal prices, but portal model sees 77% downside

— Net profit up 9-fold driven by higher platinum group metal prices and operating leverage…

IN 2026-09-09
Reliance Industries: revenue accelerated to +27%, but EBITDA margin fell to 12.6%

On August 25, Reliance Industries reported results for the first quarter of fiscal 2026: revenue rose 27.0% year on year to INR 3,094.7 billion, but EBITDA fell 11.8% and net profi…

IN 2026-09-09
HDFC Bank: net profit grows, but net interest income in the reported quarter fell 4.3%

HDFC Bank reported results for the first quarter of 2026: net profit rose 18.4% year on year to **192,447.1 million INR**, but net interest income fell 4.3% to **816,818.9 million …

IN 2026-09-09
ICICI Bank: net profit up 13.9%, but driven by one-offs, not operating momentum

On July 16, ICICI Bank reported results for Q1 FY2026: net profit rose 13.9% YoY to INR 154,400.6 million, while net interest income grew 7.7%. The stock trades at a P/E of 17.8 an…

IN 2026-09-09
State Bank of India: net profit up 13.7%, but revenue growth slows to 10.2%

— Net profit grew 13.7% driven by a 10.2% increase in net interest income…

IN 2026-09-09
Tata Consultancy Services: revenue accelerated to +13.9%, but net margin compressed to 18.5%

— Revenue in Q1 2026 grew 13.9% YoY – the fastest in the last five quarters…

IN 2026-09-09
Hindustan Unilever: revenue accelerated to +10.3%, but profit fell 3.0% on one-offs

— Revenue accelerated to +10.3% – the best quarterly growth in a year…

IN 2026-09-09
Sun Pharmaceutical: revenue accelerates to +10.1%, but EBITDA margin contracts and debt rises by 18.8 bn

— Revenue grows double-digit, but EBITDA margin fell from 28.6% to 28.3%…

IN 2026-09-09
Titan Company: revenue accelerated to +40%, but valuation is near its peak

On August 25, Titan Company reported results for the first quarter of fiscal 2026: revenue grew **40.3%** YoY, EBITDA – **57.0%**, net profit – **62.9%**. Growth accelerated versus…

IN 2026-09-09
Infosys: growth slowed to 2.9%, but margin holds and valuation is below its own history

In the first quarter of fiscal 2026, Infosys revenue reached **$5,082 million**, up 2.9% year-on-year. This is a noticeable slowdown compared to previous quarters: in Q2 FY2025 gro…

IN 2026-09-09
Maruti Suzuki: revenue up 36%, but margin halved – sales growth no longer delivers the same profit

— Revenue +36.1% – record quarter, but EBITDA margin fell to 8.3% from 12.2% a year earlier…

IN 2026-09-09
HCL Technologies: revenue up 13.9%, but valuation already 1.7x above its own history

On August 10, HCL Technologies reported results for the first quarter of fiscal 2026 (April–June 2025 calendar year). Revenue grew 13.9% year on year to INR 345.8 billion, and net …

IN 2026-09-09
Bajaj Auto: revenue up 65%, yet 12-month cash flow is only INR 26 bn against net profit of INR 117.6 bn

— Quarterly revenue jumped 65% to INR 208.7 bn — the best result in the last four quarters…

IN 2026-09-09
ITC: revenue down 11.1%, but EBITDA margin holds at 27.3% — the question is demand sustainability

In Q1 2026, ITC reported an 11.1% decline in revenue and a 24.0% drop in EBITDA, confirming the negative trend of recent quarters. Margins remain at acceptable levels and leverage …

IN 2026-09-09
UltraTech Cement: margin compressed, but profit up 16.8% — the question is price

— Revenue grew 15.9% YoY to INR 246,482 million, while EBITDA margin fell 0.6 pp to 20.8%…

IN 2026-09-09
JSW Steel: quarterly profit more than doubles, but nearly half is one-off items

In Q1 FY2026, JSW Steel's revenue reached **INR 466.6 billion**, up 9.9% year-on-year. Growth was driven by higher steel sales volumes, which offset some decline in global steel pr…

IN 2026-09-09
Divi's Laboratories: Q1 2026 revenue up 27.8%, EBITDA margin hits 42.8% — but shares trade at 1.7x their 3-year average EV/EBITDA

On August 25, Divi's Laboratories reported results for the first quarter of fiscal 2026: revenue grew 27.8% year-on-year to INR 30,800 million, EBITDA rose 80.9% to INR 12,620 mill…

IN 2026-09-09
Avenue Supermarts (DMart): revenue growth slowed to 14.9%, but EBITDA margin held at 8.1%

— Q1 2026 revenue grew 14.9% – the slowest in the last five quarters…

IN 2026-09-09
Tata Steel: revenue accelerated to +14.5%, but margin and debt remain concerns

On August 10, Tata Steel reported results for the first quarter of fiscal 2026: revenue grew 14.5% year on year, EBITDA by 20.7%, and net profit by 11.6%. Despite the acceleration,…

IN 2026-09-09
Hindalco: revenue and profit grow at double-digit rates, but debt rose by 287 billion over the year

— Revenue grew 32.1% driven by high aluminium prices and increased sales volumes…

IN 2026-09-09
Eicher Motors: revenue accelerated to +31.2%, but net margin contracted by 1.9 p.p.

— Revenue +31.2% – the strongest quarterly growth in a year, driven by Royal Enfield sales…

IN 2026-09-09
TVS Motor: quarterly profit up 67%, but debt consumes the growth

— Revenue accelerated to +33.5% on strong two-wheeler and three-wheeler sales…

IN 2026-09-09
Samvardhana Motherson: quarterly profit doubled, but the question is how much of it will reach shareholders

— Revenue growth is accelerating: +16.6% in Q1 versus +14.9% a quarter earlier…

IN 2026-09-09
Wipro: revenue accelerates to +10.6%, but profit barely grows as margins compress

— Wipro's revenue accelerated to +10.6% YoY – the fastest pace in five quarters…

IN 2026-09-09
Tech Mahindra: revenue accelerates to +17.7%, but margin pressure eats profit growth

— Revenue accelerated to +17.7% – the best pace in recent quarters…

IN 2026-09-09
Cipla: revenue grows, profit falls — margin compresses to 16.8%

On August 25, Cipla reported results for the first quarter of fiscal 2026. Revenue grew 3.5% year on year to **70,770.2 million INR**, but EBITDA fell 32.9% and net profit dropped …

IN 2026-09-09
Lupin: revenue accelerated to +33.3%, but net profit rose only 16.1% — margin compressed

In the first quarter of fiscal 2026, Lupin's revenue reached **82,172.3 million INR**, up **33.3%** year-on-year. This marks a notable acceleration from **+10.1%** in Q1 2025 and *…

IN 2026-09-09
Aurobindo Pharma: revenue accelerated to +16.9%, but EBITDA margin compressed to 20.7%

— Revenue accelerated to +16.9% on strong generic demand…

IN 2026-09-09
Dr. Reddy's: quarterly profit plunges 68.7% on one-offs, but cash flow and leverage remain under control

— Revenue declined 5.6% in Q1 2026, continuing the slowdown trend after 20.1% growth a year earlier…

IN 2026-09-09
Bharat Forge: revenue up 18.7%, but EBITDA down 44.7% – margin halved

— Revenue grows 18.7%, but EBITDA falls 44.7% – margin halves…

IN 2026-09-09
Persistent Systems: 29.1% revenue growth fails to save margin — EBITDA margin drops to 17.8%

— Revenue accelerated to +29.1% YoY, but operating profit grew only 13.7% due to margin compression…

IN 2026-09-09
Coforge: revenue accelerates to +49.2%, but margin and cash flow raise questions

— Q1 2026 revenue: +49.2% YoY to INR 55,277 million, accelerating from +30.0% in the prior quarter…

IN 2026-09-09
Mphasis: revenue accelerates to +17.5%, but net profit grows half as fast

On July 22, 2026, Mphasis reported results for the first quarter of fiscal 2026. Revenue grew **17.5%** year on year, EBITDA **25.0%**, but net profit rose only **10.8%**. At the c…

KR 2026-09-09
Samsung Electronics: revenue doubled, profit up 14-fold – but sustainability is the question

On August 25, Samsung Electronics reported Q2 2026 results. Revenue grew 130.0% YoY to KRW 171.5 trillion, EBITDA rose 539.3% to KRW 102.5 trillion, and net profit surged 1344.4% t…

KR 2026-09-09
SK hynix: Q2 2026 net profit up 13-fold, but the key question is whether the company can sustain its margin

— Q2 2026 revenue grew 256.8% YoY to KRW 79.3 trillion, driven by explosive AI memory demand…

KR 2026-09-09
Samsung Electro-Mechanics: revenue accelerated to +24.2%, yet the 46.4 EV/EBITDA multiple is nearly six times its own three-year average

On August 28, Samsung Electro-Mechanics reported Q2 2026 results: revenue grew **24.2%** year on year, EBITDA **64.5%**, and net profit **143.3%**. Despite these figures, the share…

KR 2026-09-09
Hyundai Motor: revenue grows, but EBITDA and profit decline, and leverage reaches 11.3x

On August 25, Hyundai Motor reported results for the second quarter of 2026. Revenue rose 1.9% year-on-year to **KRW 49,215,328 million**, but EBITDA fell 29.6% to **KRW 4,069,797 …

KR 2026-09-09
KB Financial Group: Q2 2026 profit up 14.6%, but the main driver is one-offs, not operational dynamics

— Q2 2026 net profit grew 14.6% thanks to one-offs, not an operational surge…

KR 2026-09-09
Hanwha Aerospace: Q2 revenue accelerated to +47.2%, but net profit barely grew due to one-offs

In Q2 2026, Hanwha Aerospace's revenue reached **KRW 9,292.9 billion**, up **47.2%** YoY. This marks a notable acceleration after Q1 2026, when growth was only **+4.9%** – the lowe…

KR 2026-09-09
Shinhan Financial Group: Q2 2026 net profit up 17.1% on strong net interest income, but operating leverage remains in question

— Net interest income in Q2 2026 rose 9.4% YoY to KRW 3,134.4 billion, the main driver of profit…

KR 2026-09-09
Kia: revenue accelerates to +12.6%, but EBITDA margin compresses to 10.4%

On July 30, 2026, Kia reported results for the second quarter of 2026. Revenue grew 12.6% year-over-year to KRW 33,037 billion, while EBITDA fell 7.3% and net profit rose 2.6%. Des…

KR 2026-09-09
HD Hyundai Heavy Industries: revenue and profit doubled, but the key question is whether the company can sustain its margin

On August 25, HD Hyundai Heavy Industries reported results for the second quarter of 2026. Revenue grew 52.7% year on year, EBITDA rose 194.4%, and net profit increased 289.8%. The…

KR 2026-09-09
Samsung SDI in Q2 2026: EBITDA up sixfold, but leverage remains high

On August 25, Samsung SDI released its results for the second quarter of 2026. Revenue grew 18.5% year on year, EBITDA surged 525.5% to KRW 802.8 billion, and net profit reached KR…

KR 2026-09-09
Hyundai Mobis: profit grows faster than revenue, but the key question is whether the company can sustain its margin

— Revenue grew 2.4% in Q2, but momentum is slowing…

KR 2026-09-09
LG Electronics: revenue accelerates to +14.9%, net debt at two-year low

— Q2 2026 revenue grew 14.9% YoY – the fastest in five quarters…

KR 2026-09-09
Hanwha Ocean: quarterly revenue jumps 65%, but debt rises 653 bn won over the year

In the second quarter of 2026, Hanwha Ocean's revenue reached 5,443.2 bn won, up 65.2% year on year. This is a sharp acceleration after growth of 2.1% in Q1 2026 and 2.1% in Q4 202…

KR 2026-09-09
POSCO Holdings: Q2 2026 revenue up 9.7%, net profit up 4.3x, but debt keeps rising

— Q2 2026 revenue grew 9.7% – the first solid growth after five quarters of decline…

KR 2026-09-09
LG Chem: Q2 2026 revenue up 19%, but EBITDA margin remains low and leverage high

— Q2 2026 revenue grew 19.0% YoY – the best result in the last five quarters…

KR 2026-09-09
HMM: revenue up 29.7% in Q2, but net profit down 12.8% on higher costs

— Q2 revenue rose 29.7% – the strongest quarterly pace in four quarters…

KR 2026-09-09
S-Oil: quarterly revenue up 40.9%, but cash flow remains negative

— Revenue in Q2 2026 grew 40.9% YoY to KRW 11,343,488 million…

KR 2026-09-09
Samsung Heavy Industries: double-digit revenue and EBITDA growth, but net profit barely moves on one-offs

On August 25, Samsung Heavy Industries reported Q2 2026 results: revenue grew 20.4% YoY, EBITDA 21.0%, but net profit only 4.8%. At the current price, the share looks attractive: t…

KR 2026-09-09
Hyundai Rotem: revenue up 13.3%, but EBITDA and profit decline — margin under pressure

— Revenue in Q2 grew 13.3% YoY to KRW 1,606.1 bn, but EBITDA fell 7.0% — margin dropped to 15.5% from 18.9% a year earlier.…

KR 2026-09-09
Hanwha Systems: Q2 2026 revenue up 45.5%, EBITDA margin 13.3% – best quarter in two years, but debt keeps rising

— Q2 2026 revenue accelerated to +45.5% – best pace in four quarters…

KR 2026-09-09
KT Corporation: revenue down 10.1%, and the portal's model sees 78% downside

On August 11, KT Corporation reported Q2 2026 results: revenue fell 10.1% year-on-year, EBITDA dropped 20.3%, and net profit declined 36.0%. Amid falling operating metrics and risi…

KR 2026-09-09
LG Display: revenue barely grew, loss narrowed only 55% — but leverage remains high

On August 25, LG Display reported Q2 2026 results: revenue was nearly flat (+0.4% YoY), EBITDA fell 17.2%, and net loss narrowed 55% to KRW 404.6 billion. At the current price, the…

UAE 2026-09-09
TAQA: Q2 profit up 21.7%, but net debt rose AED 3.6bn over the year

In Q2 2026, TAQA's revenue was AED 13,788 million, down 2.4% from the same quarter a year earlier. The decline continues the trend that began in Q4 2025, when revenue fell 9.0% YoY…

UAE 2026-09-09
ADNOC Gas: revenue collapsed by a third, net debt rose to $3.7 billion

— Revenue in Q2 2026 collapsed by 33.2% YoY to $3,111.4 million, driven by a sharp drop in prices and volumes.…

UAE 2026-09-09
First Abu Dhabi Bank: net profit grows, but pace slows to 3.8%

On August 25, First Abu Dhabi Bank reported results for the second quarter of 2026. Net profit reached **AED 5,715 million**, up **3.8%** year-on-year, while net interest income gr…

UAE 2026-09-09
Emirates NBD: Q2 net profit up only 1.8% YoY, but annual ROE stays double-digit

— Q2 net profit rose only 1.8% YoY, weighed by higher provisions and operating costs…

UAE 2026-09-09
e& (Etisalat): revenue grows, but profit and cash flow diverge

— Revenue in Q2 grew 6.4% — the slowest pace in five quarters…

UAE 2026-09-09
DEWA: revenue falls for the first time in a year in Q2, but profit rises 1.4%

On August 25, DEWA reported results for the second quarter of 2026. Revenue fell 2.6% year on year to AED 8,413.0 million, while net profit rose 1.4% to AED 2,289.0 million. At the…

UAE 2026-09-09
Abu Dhabi Commercial Bank: net profit accelerated to +31.5% in Q2 2026, driven by net interest income growth

On August 25, Abu Dhabi Commercial Bank reported Q2 2026 results. Net profit rose 31.5% YoY to AED 3,376 million, while net interest income grew 21.3% to AED 5,511 million. At the …

UAE 2026-09-09
Emaar Properties: revenue growth slows to +18.2%, but 9.1% dividend yield supports valuation

On August 31, Emaar Properties reported Q2 2026 results: revenue grew **18.2%** YoY, EBITDA **15.7%**, net profit **9.0%**. The deceleration is evident, but shares trade at P/E of …

US 2026-09-08
NVIDIA CORP: revenue accelerated to +85%, but the real surprise is net profit jumping 211%

— Record Data Center revenue of $75.2 billion, up 92%, drove nearly all growth…

US 2026-09-08
Apple Inc.: record June quarter, but 16% growth is already priced in

— Revenue grew 16.4% in Q3 – record June quarter driven by iPhone, Mac and Services…

US 2026-09-08
AbbVie Inc.: quarterly profit up 3.85x, but almost half is one-offs

On August 25, AbbVie Inc. reported results for the second quarter of 2026. Revenue rose 10.2% to $16,990 million, EBITDA fell 5.1% to $6,626 million, and net profit jumped 285.2% t…

US 2026-09-08
ANALOG DEVICES INC: revenue accelerated to +39.6%, yet shares trade 19% below the portal's model fair value

On August 19, 2026, ANALOG DEVICES INC reported fiscal third-quarter 2026 results: revenue grew 39.6% year over year to **$4,021.9 million**, net profit jumped 158.4% to **$1,340.1…

US 2026-09-08
APPLIED MATERIALS INC /DE: record revenue and margin, but shares fell 17% – market has already priced in growth

— Revenue grew 24.8% to a record $9.1 billion – the highest quarterly growth in company history…

US 2026-09-08
ADVANCED MICRO DEVICES INC: revenue accelerates to +50%, but valuation already at 86x EV/EBITDA

— Revenue in Q2 2026 grew 50.1% YoY to $11,536 million, driven by the data center segment…

US 2026-09-08
AMGEN INC: quarterly profit up 66%, but R&D spending and regulatory risks remain key drivers

— Revenue in Q2 grew 9.5% to $10,054 million, with six key growth drivers up 26%…

US 2026-09-08
AMAZON COM INC: AWS accelerated to 37%, but 85% of quarterly profit is a paper gain from Anthropic

— AWS accelerated to 37% – its fastest growth in 18 quarters – and contributed 60% of operating income…

US 2026-09-08
Arista Networks, Inc.: first $3+ billion quarter, but shares trade at 54x EBITDA

On August 4, Arista Networks, Inc. reported Q2 2026 results: revenue grew 37.7% to $3,035.7 million, EBITDA by 40.3%, net profit by 36.5%. The company crossed the $3 billion quarte…

US 2026-09-08
AMPHENOL CORP /DE/: revenue doubled in two years, but the main driver is acquisitions, not organic growth

— Revenue +55% YoY, but organic growth only 30% – the rest came from acquisitions…

US 2026-09-08
Alexandria: revenue down 13%, but the company cuts construction and promises to cut leverage to 5.6–6.2x

— Revenue falls 13% due to lower occupancy, but the company expects improvement in H2…

US 2026-09-08
US_AVB: revenue growth slows, net profit down 42% on one-offs

— Q2 revenue grew only 2.3% – the slowest in five quarters…

US 2026-09-08
Broadcom Inc.: quarterly revenue up 85.5%, yet shares still trade at 33.4 EV/EBITDA

— Revenue grew 85.5% driven by AI accelerators and networking…

US 2026-09-08
American Express: revenue doubled in the quarter due to reclassification, underlying growth more modest

— Revenue +90.3% is mostly a reclassification, not organic growth…

US 2026-09-08
Bank of America: revenue accelerates to +19.3%, but net debt up 26.4bn over the year

On July 14, 2026, Bank of America reported Q2 2026 results. Revenue grew 19.3% YoY to $31,558 million, EBITDA rose 47.4% to $12,177 million, and net income increased 27.5% to $9,07…

US 2026-09-08
BlackRock: revenue up 30.6%, but nearly half of EBITDA growth is one-off items

On July 15, 2026, BlackRock reported Q2 2026 results. Revenue grew 30.6% YoY to **$7,084 million**, EBITDA rose 46.1% to **$2,846 million**, and net profit increased 20.2% to **$1,…

US 2026-09-08
BXP: Revenue Accelerates to +3.1%, but Profit Falls 23% on One-Off Charges

On July 28, 2026, BXP reported results for the second quarter of 2026. Revenue grew 3.1% year-over-year to **$895.7 million**, EBITDA rose 2.7%, but net profit fell 23.0% to **$68.…

US 2026-09-08
Citigroup: profit up 45%, but operating cash flow turned negative by $24 billion

On July 14, Citigroup reported second-quarter 2026 results: revenue rose 14.3% to $24,766 million, net profit increased 45.1% to $5,831 million. However, operating cash flow in the…

US 2026-09-08
CATERPILLAR INC: quarterly revenue tops $20 billion for the first time, but shares trade at twice their three-year average multiple

On August 4, 2026, Caterpillar Inc. reported second-quarter 2026 results: revenue rose 24% to $20.5 billion, EBITDA increased 43.8% to $4.9 billion, and net profit grew 64.9% to $3…

US 2026-09-08
Crown Castle: $8.4bn Fiber sale slashes debt, but revenue keeps falling

In May 2026, Crown Castle completed the sale of its Fiber business (small cells and fiber solutions) for $8.4 billion in net cash proceeds. This deal was the quarter's main event: …

US 2026-09-08
COSTCO WHOLESALE CORP /NEW: revenue accelerated to +11.6%, but valuation already at 30x EV/EBITDA

— Revenue accelerated to +11.6% – the best quarterly pace in the last five quarters…

US 2026-09-08
Camden Property Trust: revenue falls for the first time in five quarters, and the $1.625bn California portfolio sale radically reshapes the balance sheet

On July 30, Camden Property Trust reported second-quarter 2026 results. Revenue fell 1.5% year over year to $392.9 million, EBITDA dropped 18.7% to $220.5 million, and net profit p…

US 2026-09-08
Credo Technology Group Holding Ltd: revenue doubled, but shares fell 24.6% after the report

— Credo's revenue doubled year-over-year, but growth slowed from 273.6% to 114.7%…

US 2026-09-08
CISCO SYSTEMS, INC.: record fiscal 2026, but shares fall on slowing order growth

— Revenue for fiscal 2026 grew 11.8% to $63.3 billion, with Q4 up 18% to $17.3 billion, exceeding the high end of guidance…

US 2026-09-08
Dell Technologies Inc.: record revenue on AI servers, but shares already up 71.7% since the report

On May 28, Dell Technologies Inc. reported results for the first quarter of fiscal 2027 (ended May 1, 2026). Revenue rose 87.5% year over year to **$43.8 billion**, net profit incr…

US 2026-09-08
Walt Disney Co: quarterly profit halves on one-off charges, but operating cash flow hits records

On August 5, Walt Disney Co reported results for the third quarter of fiscal 2026. Revenue rose 6.8% to **$25,248 million**, EBITDA grew 18% to **$6,969 million**, but net profit f…

US 2026-09-08
EQT Corporation: Q2 2026 revenue down 29.2%, yet EBITDA margin holds at 66.5%

On August 25, EQT Corporation reported Q2 2026 results: revenue fell 29.2% YoY to $1,809.94 million, EBITDA dropped 31.6% to $1,083.63 million, and net profit declined 73.0% to $21…

US 2026-09-08
Elastic N.V.: record customer additions fail to stem margin decline

In the first quarter of fiscal 2027 (ended July 31, 2026), Elastic N.V.'s total revenue reached **$478.1 million**, up 15.1% year-over-year. However, a year ago growth was 19.5%, i…

US 2026-09-08
Extra Space Storage: revenue down 18%, EBITDA up — a quarter where falling sales became a reason for optimism

— Revenue fell 18%, but this is an effect of asset sales and disposals, not weakening demand…

US 2026-09-08
Fabrinet: record quarter and 45% revenue growth, yet shares fell 29% after the report

— Fourth-quarter revenue rose 44.6% to a record $1,315.8 million…

US 2026-09-08
JFrog Ltd: revenue accelerated to +28.7%, but GAAP loss narrowed only on one-offs

In Q2 2026, JFrog Ltd revenue reached **$163.8 million**, up **28.7%** year-over-year. This is an acceleration from +25.8% in Q1 2026 and +25.2% in Q4 2025. The main driver was clo…

US 2026-09-08
GENERAL ELECTRIC CO: revenue falls for the first time in two years, yet the company raises its full-year guidance

— Second-quarter revenue fell 9.3% – the first decline in two years, yet EBITDA rose 6.8%…

US 2026-09-08
GE Vernova Inc.: revenue accelerated to +21.9%, but shares fell 8.7% on disappointing EBITDA guidance

— Revenue in Q2 rose 21.9% to $11,104 million, driven by Power and Electrification segments…

US 2026-09-08
Alphabet Inc.: profit nearly quadrupled, but $77.1 billion of it is a paper revaluation of investments

— Revenue in Q2 grew 24.2% to $119.8 billion, driven mainly by Google Cloud, which accelerated 82%…

US 2026-09-08
Goldman Sachs: revenue soars 39.5%, but EBITDA margin collapses from 152.7% to 44.6% — and it's not a one-off

On July 14, Goldman Sachs reported Q2 2026 results: revenue rose 39.5% YoY to **20,338 million KZT**, net profit jumped 78.0% to **6,628 million KZT**. However, EBITDA margin fell …

US 2026-09-08
GitLab Inc.: revenue grows 21%, but GAAP loss deepens on restructuring

On September 1, GitLab Inc. reported results for the second quarter of fiscal 2027 (ended July 31, 2026). Revenue grew 21.3% year over year to **$286.3 million**, but the GAAP loss…

US 2026-09-08
Home Depot: strong quarter, but revenue growth is slowing

On August 18, 2026, Home Depot reported results for the second quarter of fiscal 2026. Revenue grew 5.7% to $47.9 billion, net profit rose 4.7% to $4.8 billion. The stock fell 5% a…

US 2026-09-08
Host Hotels & Resorts: World Cup boosts RevPAR, but revenue growth slows to 3.4%

On August 5, Host Hotels & Resorts reported results for the second quarter of 2026. Revenue rose 3.4% year-over-year to **$1,640 million**, comparable RevPAR grew 7.0% thanks to th…

US 2026-09-08
Interactive Brokers: revenue accelerates to +28%, but the real story is in net income and client cash flows

On July 21, Interactive Brokers reported Q2 2026 results: revenue grew 28.1% YoY to $1,896 million, net income rose 33.0% to $1,338 million. The shares look attractive: growth is a…

US 2026-09-08
INTERNATIONAL BUSINESS MACHINES CORP: disappointing quarter, but shares already fell 25% – the question is how much is priced in

In Q2 2026, INTERNATIONAL BUSINESS MACHINES CORP revenue reached **$17,162 million**, only **1.1%** higher than a year earlier. The company attributes this to a shortfall in Infras…

US 2026-09-08
INTEL CORP: strongest quarterly revenue growth in 15 years, but net loss of $11 billion on share revaluation

— Revenue grew 25.4% — the strongest quarterly growth in 15 years, driven by DCAI and Intel Foundry…

US 2026-09-08
JOHNSON & JOHNSON: revenue grows, but net profit stalls – what ate the growth

— JOHNSON & JOHNSON's Q2 revenue grew 6.6% to $25,310 million, with Innovative Medicine up 7.8% and MedTech up 4.5%…

US 2026-09-08
JPMorgan: quarterly revenue accelerated to +27.7%, but nearly half of the gain is one-off items

— Revenue grew 27.7% in Q2 – the fastest in eight quarters, but USD 5.6bn of the USD 12.4bn increase came from one-off gains…

US 2026-09-08
Kimco Realty: record leasing, but net income falls on one-off transactions

On August 4, 2026, Kimco Realty reported results for the second quarter of 2026. Revenue rose 4.9% to **$550.8 million**, but net income fell 6.0% to **$153.3 million** due to lowe…

US 2026-09-08
KLA CORP: quarterly revenue up 15.2%, but shares fell 6.2% after the report

— Fourth-quarter revenue rose 15.2% to $3.66 billion, accelerating from the prior quarter…

US 2026-09-08
COCA COLA CO: World Cup drives revenue, but margins remain under pressure

On July 28, 2026, COCA COLA CO reported second quarter 2026 results. Revenue grew 6.7% to $13,380 million, EBITDA rose 34.0% to $4,938 million, and net profit increased 16.1% to $4…

US 2026-09-08
ELI LILLY & Co: revenue accelerated to +48%, but margin compressed on acquisition costs

— Q2 revenue grew 48% to $22,974 million, driven by Mounjaro and Zepbound volumes…

US 2026-09-08
LAM RESEARCH CORP: record quarter and record valuation — the market paid for 2026 in advance

— Quarterly revenue rose 15.1% sequentially but fell 13.0% year over year — the first decline in five quarters…

US 2026-09-08
Mastercard Inc: revenue grows 14%, but the market already prices it at 31 times earnings

— Q2 2026 revenue grew 14.1% to $9.3 billion, but currency-neutral growth is lower at 12%…

US 2026-09-08
US_MAA: revenue almost flat, net debt up 5.3 bn over the year — despite stable cash flow

On July 29, 2026, US_MAA reported Q2 2026 results. Revenue grew 1.0% YoY to 555.1 million, EBITDA rose 11.7% to 303.5 million, and net profit increased 11.8% to 120.8 million. Howe…

US 2026-09-08
MCDONALDS CORP: revenue grows, but EBITDA margin slips to 48.6% – and that is with comparable sales slowing

— Revenue grew 3.7% in Q2, but comparable sales slowed to 1.3%…

US 2026-09-08
Meta Platforms, Inc.: revenue up 28%, but costs eat the profit — and this is not a one-off

— Revenue +28% — record quarter, but growth decelerates from peak 33%…

US 2026-09-08
MONOLITHIC POWER SYSTEMS INC: revenue accelerated to +47.6%, but the market already prices it at 74x EV/EBITDA

— Q2 2026 revenue grew 47.6% YoY to $980.6 million, driven by a doubling of Enterprise Data sales…

US 2026-09-08
Merck & Co., Inc.: revenue grows, but one-off charges drive a loss and make shares expensive

— Revenue grew 5.1% in Q2, driven by new drugs…

US 2026-09-08
Marvell Technology, Inc.: revenue accelerated to +36.5%, but the market expected more – shares down 8.8% after the report

On August 27, Marvell Technology, Inc. reported results for the second quarter of fiscal 2027 (ended August 1, 2026). Revenue rose 36.5% year over year to a record **$2,739.3 milli…

US 2026-09-08
Morgan Stanley: revenue accelerates to +27%, but operating cash flow remains negative

— Revenue in Q2 grew 27% – the fastest in five quarters…

US 2026-09-08
MICROSOFT CORP: Azure crosses $100 billion, but the market has already priced in all the optimism

In Q4 of fiscal 2026 (ended June 30), MICROSOFT CORP's revenue reached $90.0 billion, up 17.7% year-over-year. The main driver was the Intelligent Cloud segment, whose revenue grew…

US 2026-09-08
MICRON TECHNOLOGY INC: quarterly revenue up 4.5x, and the company became a net lender

— Quarterly revenue grew 4.5x thanks to strategic customer agreements in AI…

US 2026-09-08
NETFLIX INC: Q2 2026 — revenue up 13.4%, but operating margin shrinks and shares trade at twice the three-year norm

— Q2 2026 revenue grew 13.4% to $12,559.9 million, but growth slowed from 15.9% a year ago…

US 2026-09-08
nVent Electric plc: Revenue doubled in a year, but EBITDA margin fell to 11.4% – the market focuses on adjusted metrics

On July 31, nVent Electric plc reported Q2 2026 results: revenue grew 52.8% to **$1,471.3 million**, net profit rose 97.2% to **$215.9 million**, but EBITDA margin fell from 21.5% …

US 2026-09-08
Realty Income: revenue up 9.7%, but all profit growth is one-offs and revaluation

— Revenue grew 9.7% driven by acquisitions, not organic growth…

US 2026-09-08
ORACLE CORP: revenue up 21%, but shares fell 23% – investors question the price of growth

On June 10, 2026, ORACLE CORP reported Q4 FY2026 results: revenue grew 20.6% to **$19,184 million**, EBITDA rose 32.0% to **$8,980 million**, and net profit increased 23.2% to **$4…

US 2026-09-08
UiPath: Q2 profit up 23-fold, but market focuses on slowing ARR

— Net profit up 23-fold on operating leverage and one-offs…

US 2026-09-08
PEPSICO INC: Q2 profit up 136%, but almost all of it comes from year-ago impairment charges

— Revenue grew 6.4% driven by 2.4% organic growth and FX translation…

US 2026-09-08
PROCTER & GAMBLE Co: quarterly profit fell amid rising costs, but company remains confident in the future

On July 29, 2026, PROCTER & GAMBLE Co reported results for the fourth quarter of fiscal 2026. Revenue increased 1.5% to $21,203 million, EBITDA fell 6.2% to $4,761 million, and net…

US 2026-09-08
Progressive: growth slowed to 7.3%, but underwriting remains strong, while debt rose by $8.3 billion

In Q2 2026, Progressive's revenue reached **$23,609 million**, up **7.3%** from the same period a year earlier. A year ago, growth was **21.3%** – a slowdown of more than half. Qua…

US 2026-09-08
Palantir Technologies Inc.: revenue doubled, but the market has already priced in the future

On August 3, 2026, Palantir Technologies Inc. reported results for the second quarter of 2026. Revenue grew 92.8% year-over-year to $1,935.5 million, EBITDA rose 336.0% to $1,202.7…

US 2026-09-08
Philip Morris International Inc.: revenue tops $11 billion for the first time, but profit falls on RBH impairment

In Q2 2026, Philip Morris International Inc. revenue reached **$11,192 million**, up **10.4%** year-on-year. This is an acceleration from +9.1% in Q1 2026 and +7.1% in Q2 2025. Org…

US 2026-09-08
PNC: revenue up 21.4% on FirstBank deal, but debt jumps to $85.7 billion

On July 15, 2026, PNC reported second-quarter 2026 results. Revenue rose 21.4% year over year to $6,875 million, net profit increased 24.2% to $2,040 million, and EBITDA margin wid…

US 2026-09-08
QUANTA SERVICES, INC.: record quarter with 41.1% revenue growth, but shares already trade at 32x EBITDA

— Revenue in Q2 2026 grew 41.1% to a record $9.56 billion, with quarterly momentum accelerating from 26.3% in Q1…

US 2026-09-08
QUALCOMM INC/DE: revenue declines, but automotive grows 61% — and that doesn't save the stock from overvaluation

— Revenue has been falling for four consecutive quarters, and this is not seasonality but a structural decline in the handset segment…

US 2026-09-08
Regency Centers: revenue down 21%, profit up – a quarter that broke the trend

— Revenue fell 21%, but operating profit rose – the quarter broke the trend…

US 2026-09-08
RAMBUS INC: record revenue and margin, yet shares fall 11% after earnings

In Q2 2026, RAMBUS INC revenue reached **$207.4 million**, up 20.4% year over year, exceeding the company's guidance of $192–198 million and setting an all-time high. The main driv…

US 2026-09-08
RTX Corp: revenue accelerates to +14.5%, backlog up 22% — guidance raised

— Q2 revenue grew 14.5% — the fastest in four quarters…

US 2026-09-08
SentinelOne, Inc.: revenue up 21%, but GAAP loss widens and shares trade 5% above model value

On August 27, 2026, SentinelOne, Inc. reported results for the second quarter of fiscal year 2027 (ended July 31, 2026). Revenue grew 21% to $292 million, beating guidance, and ARR…

US 2026-09-08
Schwab: record revenue and earnings, but organic asset growth slowed

On July 21, Charles Schwab reported second-quarter 2026 results: revenue rose 20.9% year over year to a record $7,072 million, and net profit increased 31.7% to $2,800 million. The…

US 2026-09-08
Super Micro Computer: quarterly profit up sixfold, but trailing operating cash flow turned negative at -$6.8 billion

— Quarterly revenue grew 93.2% to $11.1 billion, near the low end of guidance…

US 2026-09-08
Snowflake Inc.: third straight quarter of product growth acceleration, yet GAAP losses remain the norm

— Product revenue accelerates for the third straight quarter: +37% YoY in Q2 FY2027…

US 2026-09-08
Simon Property Group: revenue up 19.5%, but net profit down 10.8% on one-off items

— Revenue accelerated to 19.5% on leasing and acquisitions…

US 2026-09-08
S&P Global: revenue up 10%, but the real story is margin expansion to 55.4%

— Revenue +10.4% driven by growth across all segments, especially Ratings and Indices…

US 2026-09-08
Seagate Technology Holdings plc: quarterly revenue fell 11.8%, but net profit rose 2.6x – driven by one-offs and record margins

On July 28, 2026, Seagate Technology Holdings plc reported results for the fourth quarter of fiscal 2026 (ended July 3, 2026). Revenue fell 11.8% year over year to **$3,629 million…

US 2026-09-08
AT&T INC.: revenue up 2.3%, but operating income rose 8.3% — what's behind it?

— Revenue +2.3% — driven by services, not equipment…

US 2026-09-08
THERMO FISHER SCIENTIFIC INC.: revenue accelerated to +10.5%, but net debt rose by 9.6 bn over the year

— Q2 2026 revenue grew 10.5% – the strongest in the last five quarters…

US 2026-09-08
T-Mobile US: EBITDA margin up to 41.8%, but net profit nearly flat on one-off costs

On July 23, T-Mobile US reported Q2 2026 results: revenue grew 7.9% YoY, EBITDA 14.1%, but net profit only 0.5% due to one-off costs related to UScellular integration and network r…

US 2026-09-08
Tesla, Inc.: revenue up 25.5%, but profit falls — margin compresses to 3.9%

— Revenue in Q2 2026 grew 25.5% YoY to $28,236 million, after two quarters of decline…

US 2026-09-08
TEXAS INSTRUMENTS INC: revenue accelerated to +22.8%, yet shares lost 11.3% after the report

— Q2 2026 revenue grew 22.8% – the fastest in the last five quarters…

US 2026-09-08
Uber Technologies, Inc: revenue growth slowed to 12.2%, but EBITDA margin rose to 14.6% — and this is not the limit

On August 5, 2026, Uber Technologies, Inc reported results for the second quarter of 2026. Revenue grew 12.2% YoY to $14.2 billion, adjusted EBITDA rose 27.9% to $2.1 billion, and …

US 2026-09-08
UDR: quarterly profit up 2.5x, but the main driver is a one-off asset sale, not operations

On April 29, UDR reported Q1 2026 results: revenue grew only 0.9% to **425.8 million**, but net profit jumped 147.5% to **189.8 million**, driven by a property sale. EBITDA margin …

US 2026-09-08
UNITEDHEALTH GROUP INC: Q2 profit up 61%, but revenue barely grows

— Revenue barely grew: +0.4% in Q2 2026…

US 2026-09-08
Visa: revenue up 14%, but net income only 7% due to one-off charges

— Revenue +14% driven by acceleration in payments volume and cross-border transactions…

US 2026-09-08
VICI Properties: revenue grows, but profit falls 39% on credit loss allowance

On July 29, VICI Properties reported Q2 2026 results. Revenue grew 5.7% to $1.1 billion, but net income fell 39.1% to $526.5 million due to a $413.1 million change in the CECL allo…

US 2026-09-08
Vertiv Holdings Co: revenue up 24% and guidance raised, but shares fell 17%

— Revenue in Q2 grew 24.1% to $3,274.3 million, with organic growth of 17.8%…

US 2026-09-08
VERIZON COMMUNICATIONS INC: record EBITDA and subscriber growth, but net profit fell 23% on one-off charges

— Revenue in Q2 fell 0.7% due to a 20% drop in equipment revenue, but service revenue grew 3.5%…

US 2026-09-08
Wells Fargo: revenue and profit grow double-digits, but trailing operating cash flow turned negative by $19 billion

On July 14, 2026, Wells Fargo reported Q2 2026 results: revenue grew 8.6% YoY to $22,622 million, net profit rose 16.6% to $6,407 million. However, trailing twelve-month operating …

US 2026-09-08
Walmart Inc.: a strong quarter, but the market sees a ceiling

On August 20, 2026, Walmart Inc. reported results for the second quarter of fiscal 2027 (the quarter ended July 31, 2026). Revenue grew 5.9% (5.1% in constant currency), operating …

US 2026-09-08
NVIDIA CORP: revenue doubled, yet shares trade below their three-year average

On August 26, NVIDIA CORP reported results for the second quarter of fiscal 2027 (ended July 26, 2026): revenue grew 105.9% year over year to **$96.2 billion**, and net profit rose…

US 2026-09-08
Arm Holdings: revenue up 22.4%, but EBITDA margin compressed to 13.4% — and that's at 240x EV/EBITDA

— Revenue grew 22.4% in Q2, but that's a slowdown from 22.4% in the prior quarter…

US 2026-09-08
ASML: revenue up 21.3%, but quarterly cash flow turned negative — sustainability in question

In Q2 2026, ASML reported revenue of **EUR 9,326.5 million**, up **21.3%** from the same quarter a year earlier. Growth accelerated compared to previous quarters: Q1 2026 revenue w…

US 2026-09-08
Dell Technologies Inc.: record revenue and profit in Q2 2026, but the market expected more

On September 1, 2026, Dell Technologies Inc. reported results for the second quarter of fiscal 2026. Revenue grew 57.7% to a record $46,971 million, and net profit rose 255.1% to $…

Commodities 2026-09-08
The Andersons: record Renewables quarter and 45Z credits, but revenue keeps declining

On August 3, 2026, The Andersons reported results for the second quarter of 2026. Net income came in at **$56.6 million**, up **619.9%** year over year, on revenue of **$3,097.7 mi…

Commodities 2026-09-08
CF Industries: quarterly profit up 76.6% – but the portal's model sees 17% downside

— Revenue in Q2 rose 17.6% to USD 2,222 million – the acceleration was driven by fertilizer prices…

Commodities 2026-09-08
Danaos Corporation: profit grows faster than revenue, debt stays minimal

On August 25, Danaos Corporation reported Q2 2026 results: revenue grew 4.7% YoY to $274.4 million, net profit rose 16.0% to $151.8 million. EBITDA margin expanded to 73.5% from 67…

Commodities 2026-09-08
Euroseas: Q2 2026 profit up 11.2%, but revenue down 1.3% — a bet on the container market

On August 25, Euroseas reported Q2 2026 results: revenue fell 1.3% year-on-year to **$56.5 million**, EBITDA rose 3.3% to **$40.1 million**, and net profit increased 11.2% to **$33…

Commodities 2026-09-08
Newmont Corporation: record quarterly free cash flow, but EBITDA margin compressed to 59.5%

— Revenue grew 15.1% thanks to record gold prices, but production volumes declined…

Commodities 2026-09-08
PBF Energy: insurance proceeds and Martinez restart drive profit recovery, but shares have already priced it in

On July 30, PBF Energy reported Q2 2026 results: revenue rose 56.2% YoY to $11,678.3 million, and net income reached $906.4 million versus a loss a year earlier. The key drivers we…

Commodities 2026-09-08
Valero Energy: quarterly profit up 5x on refining margin surge

— Revenue up 48.8% on record refining margins…

Commodities 2026-09-08
ZIM Integrated Shipping: revenue returns to growth, but profit still overshadowed by last year's one-off gain

— Revenue in Q2 2026 grew 8.9% YoY, the first increase in four quarters…

KZ 2026-09-08
KCEL: revenue accelerated to +13.4%, but cash conversion remains weak

On August 25, KCEL reported Q2 2026 results: revenue grew 13.4% YoY, EBITDA margin was 39.2%, and net profit was KZT 7.9 billion. At the current price, the share looks rather attra…

KZ 2026-09-08
KEGC: H1 revenue up 31%, but Q2 net profit barely changed year-on-year

— H1 revenue grew 31% to KZT 240.1bn, but Q2 growth slowed to 19.5%…

KZ 2026-09-08
Kaspi.kz: revenue grows 15%, but profit is flat — money goes to Turkey and deposit costs

On August 10, Kaspi.kz reported Q2 2026 results: revenue grew 15% YoY to KZT 1.1 trillion, adjusted EBITDA rose 13.5%, and net profit was nearly flat (-0.7%). At the current price,…

KZ 2026-09-08
CCBN: Q1 2026 profit down 25.1% — the bank pays for rapid interest income growth

In Q1 2026, CCBN's net profit was **61.1 billion tenge**, down **25.1%** from the same quarter of 2025. Interest income grew **35.9%** to **105.8 billion tenge**, pointing to margi…

KZ 2026-09-08
Halyk: net profit down 15.3% as NIM compresses on reserve requirements and regulation

Interest income for the first half of 2026 rose 12.2% year-on-year to KZT 1,446.2bn, but interest expense jumped 21.6% to KZT 788.5bn. The bank attributes this to higher average ra…

ID 2026-09-08
ID_INCO: Q2 EBITDA up 10x – but almost half of profit still not in cash

— Q2 2026 revenue grew 31.9% YoY – accelerating from +22.3% in Q1…

ID 2026-09-08
ID_MIKA: H1 profit up 6.9%, but cash conversion remains weak

— Revenue for H1 grew 8.0% to IDR 2,769.0 bn, but operating cash flow for LTM was only IDR 1.9 bn…

ID 2026-09-08
ID_PGAS: revenue declines, profit supported by one-offs and low base

On May 15, 2026, ID_PGAS reported Q1 2026 results: revenue declined 3.8% YoY to $929.6 million, EBITDA fell 27.4%, while net profit rose 0.3% to $90.4 million. At the current price…

ID 2026-09-08
Semen Indonesia: H1 profit up 5.5x, but margins remain under pressure

On August 31, PT Semen Indonesia (Persero) Tbk released its results for the first half of 2026. Net profit for the period rose to IDR 228.3 billion from IDR 40.0 billion a year ear…

ID 2026-09-08
ID_ADRO: revenue returns to growth, but the company swung to net debt for the first time in two years

— Revenue in Q2 2026 grew 11.0% YoY after two quarters of decline…

ID 2026-09-08
ANTAM: H1 revenue down 99.9%, yet EBITDA margin up to 14.3%

On August 28, ANTAM reported its H1 2026 results. Revenue for the half-year was IDR 88.3 billion, down 99.9% year-on-year, while EBITDA margin expanded from 11.4% to 14.3%. Against…

ID 2026-09-08
Bank BRI: H1 net profit collapsed 99.9%, yet operating profit grows at double-digit pace

On August 31, 2026, PT Bank Rakyat Indonesia released its consolidated financial statements for the first half of 2026. Net profit for the half-year fell 99.9% year on year, yet op…

ID 2026-09-08
ID_CPIN: H1 profit doubled, but revenue in the report fell 99.9% – discrepancy due to base change

— H1 net profit doubled thanks to higher operating profit and lower finance costs…

ID 2026-09-08
Indofood: H1 revenue collapsed 99.9%, yet operating profit rose 13.6%

— H1 revenue grew 9.5% in comparable units despite a formal 99.9% drop due to a switch to millions…

ID 2026-09-08
Kalbe Farma: H1 revenue down 99.9%, but that's an artifact of the switch to new reporting

On June 30, 2026, PT Kalbe Farma Tbk. released its results for the first half of 2026. Formally, revenue fell 99.9% to IDR 19,478,807 million, but this is due to a change in report…

ID 2026-09-08
Bukit Asam: H1 2026 profit tripled, but revenue fell 99.9% – a gap explained by one-off asset sale

On August 25, 2026, PT Bukit Asam released its results for the first half of 2026. Net profit for the half more than tripled year-on-year to IDR 2,643.4 billion, while revenue fell…

ID 2026-09-08
ID_TLKM: revenue accelerated to +6.4%, but the key is debt down 18.2 trillion IDR in the quarter

— Q2 2026 revenue grew 6.4% YoY — the fastest pace in five quarters…

ID 2026-09-08
Bank Mandiri: quarterly profit up 33.5%, but revenue down 9.3% — impact of sharia bank deconsolidation

On August 25, Bank Mandiri reported Q2 2026 results. Net profit rose 33.5% YoY to **IDR 15,028.2 million**, while revenue (net interest income) fell 9.3% to **IDR 30,292.8 million*…

MX 2026-09-08
Arca Continental: Q2 2026 revenue doubled, but margin contracted amid one-offs

— Q2 2026 revenue grew 90.2% YoY, driven by consolidation of new assets and organic growth…

MX 2026-09-08
MX_ALSEA: profit halves, EBITDA up 19% – market focuses on operational efficiency

On August 25, MX_ALSEA reported Q2 2026 results: revenue fell 1.8% YoY, EBITDA rose 19.3%, and net profit dropped 52.0%. At the current price, the share looks attractive: EV/EBITDA…

MX 2026-09-08
América Móvil: revenue grows slowly, but EBITDA margin hits 39.9% – a high, and debt fell MXN 284bn over the year

On April 21, América Móvil reported first-quarter 2026 results. Revenue rose 2.1% YoY to MXN 236.8bn, EBITDA grew 3.8% to MXN 94.5bn, net profit jumped 25.1% to MXN 23.4bn. At the …

MX 2026-09-08
Grupo Bimbo: peso sales fell, but EBITDA margin hit a record – helped by one-off stake sale

On April 29, Grupo Bimbo reported first-quarter 2026 results. Peso revenue fell 3.3% year on year to 100,319 million due to FX translation, while on a currency-neutral basis it ros…

MX 2026-09-08
Grupo México: record revenue and EBITDA in Q1 2026, but higher metal prices are the main driver

— Revenue in Q1 2026 grew 32.6% to $5,565.3 million, driven by higher copper, silver and zinc prices and higher silver and zinc sales volumes…

MX 2026-09-08
Coca-Cola FEMSA: revenue nearly flat, profit down 15.5% on financial items

On April 29, Coca-Cola FEMSA reported first quarter 2026 results. Revenue rose just 1.1% to Ps. 70,925 million, EBITDA 0.9%, while net profit fell 15.5% to Ps. 4,342 million. At th…

MX 2026-09-08
Genomma Lab: revenue up 226x, but operating cash flow turned negative by MXN 229bn

On April 22, Genomma Lab released its Q1 2026 results. Revenue reached MXN 1,000,000 million (+22,594.8% YoY), EBITDA MXN 874,490.7 million, and net profit MXN 494,600 million. How…

MX 2026-09-08
Walmex: revenue nearly flat, EBITDA down – the retailer pays for price and digital investments

— Q2 revenue grew only 1.9% – growth slowed from 8.3% a year earlier…

MX 2026-09-08
FEMSA: profit nearly tripled, but without the one-off deal it would have fallen by a third

— Revenue growth of 6.1% was driven by OXXO Mexico and Americas & Mobility, while Europe and Health were nearly flat…

PH 2026-09-08
Aboitiz Equity Ventures: profit doubles on power segment growth, but leverage remains high

— Net profit rose 83% on power segment and bank…

PH 2026-09-08
PH_AGI: revenue returns to growth, but profit drops a third on one-offs

— Revenue grew 10.4% in Q2 after four quarters of decline…

PH 2026-09-08
Bank of the Philippine Islands: net profit barely grows despite 13.7% rise in net interest income

On March 31, 2026, Bank of the Philippine Islands reported results for the first quarter of 2026. Net interest income rose 13.7% year-on-year to PHP 39.1 billion, but net profit in…

PH 2026-09-08
Globe Telecom: revenue grows for the first time in six quarters, but net profit falls 20.4% on one-offs

On April 25, 2026, Globe Telecom reported its Q1 2026 results. Revenue grew 4.5% year-on-year – the first increase in six quarters – EBITDA rose 6.1%, but net profit fell 20.4% due…

PH 2026-09-08
Metrobank: Q1 2026 net profit up 2.4%, but growth slowed on higher provisions

In Q1 2026, Metrobank's net interest income reached **PHP 40,505 million**, up **6.4%** from the same quarter of 2025. This is a noticeable slowdown from the **9.6%** growth in Q1 …

PH 2026-09-08
Megaworld: revenue growth slows to +3%, but EBITDA margin jumps to 46.3%

On May 15, 2026, Megaworld reported results for the first quarter of 2026. Revenue grew 3.0% year-on-year to PHP 20,455.9 million, EBITDA rose 11.6% to PHP 8,870.8 million, and net…

PH 2026-09-08
Robinsons Land: quarterly profit up 9.5%, debt down PHP 13.9bn on RCR stake sale

On May 12, Robinsons Land reported Q1 2026 results. Revenue rose 11.3% to PHP 12,281m, EBITDA grew 5.0% to PHP 6,593m, net profit was up 9.5% to PHP 4,400m. Shares trade at P/E 5.8…

PH 2026-09-08
Security Bank: net profit down 4.1% despite 27.6% net interest income growth

— Net interest income grew 27.6%, but profit fell due to doubled credit loss provisions…

PH 2026-09-08
SM Investments: revenue grows, but the main driver is banking and property profitability

On April 29, 2026, SM Investments Corporation reported first quarter 2026 results. Revenue grew 4.9% YoY to **PHP 159,405 million**, EBITDA rose 4.0% to **PHP 45,493 million**, and…

PH 2026-09-08
PLDT: revenue grows, but EBITDA falls on higher costs, and debt remains high

On May 14, 2026, PLDT reported results for the first quarter of 2026. Revenue rose 2.2% to PHP 56,513 million, but EBITDA fell 13.6% to PHP 26,046 million, and net profit declined …

PH 2026-09-08
PH_UBP: net profit up 167.4% – but that's base effect and one-offs, not a sustainable trend

— Net profit grew 167.4% – but from a low base and with one-off support…

PH 2026-09-08
BDO Unibank: profit grows, but margin shrinks as provisioning outpaces revenue

— Net interest income rose 11.0% on loan portfolio expansion and higher rates…

ZA 2026-09-08
Absa: H1 profit up 12%, but 7% dividend yield and P/E of 7.7 make shares attractive

— Net profit for the half-year rose 12% YoY to ZAR 24.6 billion…

ZA 2026-09-08
AngloGold Ashanti: quarterly profit up 49.8%, but the portal's model sees 31% downside

On August 25, AngloGold Ashanti reported Q2 2026 results: revenue grew 27.0% YoY, EBITDA – 55.8%, net profit – 49.8%. While the stock trades at a discount to its own three-year his…

ZA 2026-09-08
Bidcorp: EBITDA grows faster than revenue, but net profit is nearly flat

On August 25, Bidcorp released results for the fiscal year ended June 30, 2026. Revenue grew 2.9%, EBITDA rose 8.9%, but net profit increased only 1.3% to 6,145.8 million over the …

ZA 2026-09-08
Capitec: profit up 22.5%, but valuation is already nearly fair

On May 12, Capitec reported results for fiscal year 2026: net profit rose 22.5% year on year to ZAR 16,833.4 million, with return on equity of 29.7%. The shares trade at a P/E of 3…

ZA 2026-09-08
Discovery: profit up 38%, but operating cash flow is not the story

On August 28, Discovery reported results for the fiscal year ended June 30, 2026. Revenue rose 4.6%, EBITDA 36.3%, and net profit 38.2%. At the current price, the share looks attra…

ZA 2026-09-08
Exxaro: profit down 21%, but 8.9% dividend yield holds the stock

— Revenue +7.5% did not save EBITDA: cost growth ate almost all the gain…

ZA 2026-09-08
Gold Fields: H1 profit up 80.6% — but the portal's model sees 17% downside

On August 25, Gold Fields reported H1 2026 results: revenue up 70.7%, EBITDA up 95.5%, net profit up 80.6%. However, on the portal's model, the share trades 17% above fair value, m…

ZA 2026-09-08
Harmony Gold: profit doubled on the gold rally, but the portal's model sees 41% downside

On August 25, Harmony Gold reported results for the fiscal year ended June 30, 2026: revenue rose 34.3%, EBITDA 82.2%, and net profit 104.0%. At the current price, the share looks …

ZA 2026-09-08
MTN: profit down 24%, but operations continue to grow

For the first half of 2026, MTN's revenue reached ZAR 236.3 billion, up 8.8% from the same period last year. Growth was driven by data services and mobile financial services, which…

ZA 2026-09-08
Nedbank: H1 profit up 14%, but ex-ETI growth was upper single digits

On June 24, 2026, Nedbank released its pre-close update for H1 2026. Net profit rose 14.0% YoY to ZAR 10,283m on a trailing twelve-month basis, while net interest income grew 3.5%.…

ZA 2026-09-08
Standard Bank: profit up 9.6%, but the portal's model sees only 10% upside

On August 25, Standard Bank reported H1 2026 results: net profit rose 9.6% YoY to ZAR 53.6 billion (LTM), with ROE of 17.7%. The shares trade at a P/E of 9.7 and a dividend yield o…

ZA 2026-09-08
Telkom: profit down 52.7%, but EBITDA up 12% – market focuses on cash flow

On March 31, Telkom reported results for the fiscal year ended March 2026. Revenue rose 1.4%, EBITDA grew 12.0%, and net profit fell 52.7% due to one-off factors. At the current pr…

ZA 2026-09-08
Valterra Platinum: profit doubled, but the portal's model sees 48% downside

Valterra Platinum reported FY 2025 results: revenue up 6.7%, EBITDA up 30.3%, net profit up 118.4%. Despite the strong report, the shares look unattractive: the portal's model impl…

ZA 2026-09-08
Vodacom: EBITDA margin up to 38.3%, dividend yield 4.8% — but shares trade at 14.1 P/E

For the fiscal year ended 31 March 2026, Vodacom's revenue grew 10.1% to ZAR 167.7bn. The main driver was financial services: revenue jumped 19.6% to ZAR 16.8bn, reflecting growth …

ZA 2026-09-08
Anglo American: coal sale and Teck merger, not EBITDA growth, drive the valuation

On July 30, 2026, Anglo American reported first-half 2026 results. Underlying EBITDA from continuing operations rose 35% to **$4.0 billion**, but the net loss was **$0.9 billion** …

AU 2026-09-08
Evolution: profit up 59%, but the portal's model sees 28% downside

In fiscal 2026, Evolution's revenue grew 27.7% to **A$5,600.0m**. EBITDA jumped 76.2% to **A$3,135.5m** — more than double the pace of revenue, indicating significant operating lev…

AU 2026-09-08
Northern Star: EBITDA and profit rise, but revenue drops 65.9% on concentrate sales and mill expansion transition

For the fiscal year ended 30 June 2026, Northern Star's revenue was **A$7,000.0 million**, down **65.9%** from a year earlier. The decline is tied to the company selling gold conce…

AU 2026-09-08
Regis: profit up 2.8x, but the portal's model sees 27% downside

On August 25, Regis reported results for the fiscal year ended June 2026: revenue up 42.8%, EBITDA up 73.3%, net profit up 2.8x. At the current price, the share looks unattractive:…

AU 2026-09-08
Woodside: H1 profit up 27%, but portal model sees 27% downside

— Revenue grew 13% in H1, driven by higher energy prices…

AU 2026-09-08
Whitehaven: revenue falls, but EBITDA rises 35.8% — driven by margin, not volumes

— EBITDA rose 35.8% despite falling revenue — margin jumped from 36.3% to 53.3%…

AU 2026-09-08
Yancoal: profit plunges 89.6% on one-offs, but operations remain solid

On August 25, Yancoal reported H1 2026 results: revenue rose 11.8% to AUD 6,000 million, but net profit fell 89.6% to a 0.6% margin. At the current price, the share looks unattract…

US 2026-09-07
Micron: an 84.6% gross margin and the contracts that promise to end the cycle

A deep review of Micron Technology (Nasdaq: MU), the only American maker of DRAM and one of just three companies producing it at industrial scale anywhere. Micron has just reported…

US 2026-09-07
Micron: an 84.6% gross margin and the contracts that promise to end the cycle
US 2026-09-07
Micron: an 84.6% gross margin and the contracts that promise to end the cycle
KR 2026-09-04
Korea April-June 2026 earnings: memory and shipbuilding carry the market

Korean coverage closed the April-June 2026 quarter. Updated on 4 September: all 22 issuers are now taken from consolidated statements filed on DART – the three-month column of the …

Commodities 2026-09-02
Commodity producers, April-June 2026: coal was both the best and the worst sector

Commodity coverage is the broadest we run: 152 issuers, of which 68 closed the April-June 2026 quarter with a comparable base. Median revenue growth was 16.5% and net profit growth…

KZ 2026-09-02
Kazakhstan H1 2026 earnings: Kcell's report now carries a going concern section

Five of the fourteen issuers in our Kazakh coverage have disclosed the half-year ended 30 June 2026. Every figure below was checked page by page against the reports themselves: the…

ID 2026-09-02
Indonesia H1 2026 earnings: banks out-earn everyone, coal turns up

Indonesian coverage has closed the half-year ended 30 June 2026. We went through 17 issuers with a comparable base. Median revenue growth was 8% and net profit growth 19%, which pu…

ZA 2026-09-02
South Africa earnings: platinum and gold deliver multiple-fold profit growth

South African coverage runs to 48 issuers, the broadest in our international review. There is no single reporting season here: many companies close their financial year in June, ot…

AU 2026-09-02
Australia January-June 2026 earnings: gold against coal and iron ore

Australian coverage has closed the period ended 30 June 2026, which for most issuers in the country is the end of the financial year. We went through 15 companies. Median revenue g…

IN 2026-09-02
India April-June 2026 earnings: steelmakers double profit, pharma splits in two

Indian coverage has closed the April-June 2026 quarter. We went through 31 companies with a comparable base. Median revenue growth was 16% and net profit growth also 16%. India gro…

UAE 2026-09-02
UAE April-June 2026 earnings: real estate out-earns the market

The Emirates closed the April-June 2026 quarter. We went through 23 issuers with a comparable base. Median revenue growth was 7% and net profit growth 6%, making this the quietest …

Commodities 2026-08-21
B2Gold: 2026 is engineered to look bad - three drags end within months, and the shares price none of it

B2Gold produced 203,648 ounces in the second quarter and received $3,767 for each of them, against a gold price near $4,650. Operating cash flow was negative $78.8m. On the face of…

KZ 2026-08-10
AltynGold: the cheapest way to own the turn in gold - 4.0x EBITDA against a peer median of 6.7x

Gold has stopped falling and started rising again. AltynGold is the cheapest listed way to own that: it trades at 4.0x EV/EBITDA against a median of 6.7x for the gold producers we …

Commodities 2026-08-07
Refiners after the record: PBF's blowout quarter, the crack-spread turn, and what is actually priced in

Since this idea was published on 25 June, PBF Energy has returned 45% and refining margins have printed an all-time high. Both facts are now history: the crack spread peaked in lat…

ZA 2026-07-28
Gold miners' Midas touch leaves energy and pharma in the dust

This reporting season in South Africa is defined by a single, stark divergence: commodity-driven miners, especially gold and platinum group metals, are roaring ahead with revenue g…

Commodities 2026-07-23
The gas pause: US gas producers and the widest arbitrage in energy (EXE, GPOR, RRC, CNX)

While oil spiked 31% in a month on the Hormuz crisis (Brent ~$101) and European gas jumped to ~EUR 60/MWh, US natural gas went the other way: Henry Hub - the benchmark price at the…

US 2026-07-22
PepsiCo at six-year lows: a Dividend King de-rated from 31x to 18x earnings, with Elliott inside

A look at PepsiCo (Nasdaq: PEP) on the fresh Q2 2026 report. The prompt was 'a good report, but the stock is at six-year lows' - we checked both halves against primary data. Short …

UAE 2026-07-20
Emaar Properties: Dubai's #1 developer at 5.4x earnings with an 8.7% tax-free dividend

Emaar Properties (DFM: EMAAR) is the first screen hit of our newly added UAE coverage (24 names across ADX and DFM): a combination of 5x earnings, an 8.7% dividend and a growing bu…

UAE 2026-07-20
Parkin: Dubai's 49-year parking monopoly compounding at 30%+ with a 100%-payout dividend

A follow-up in our UAE series (24 names in Frontier coverage). After the Emaar review, where fresh data showed the property cycle turning, the natural question is what in Dubai gro…

COMM 2026-07-17
US refiners at peak margins: a deep dive on PBF Energy (+36% since June 25 - thesis intact)
US 2026-07-16
13 investment ideas across frontier markets, commodities and US leaders - July 2026

Thirteen ideas from our coverage across frontier markets, commodities and US large caps. Each was produced by one of five live engines (EM bank value with monthly regulatory data, …

ID 2026-07-14
Bank Mandiri: Indonesia's #2 bank at 4.8x earnings - 18% profit growth, ~9% net dividend, 2.8%/yr currency hedge

Bank Mandiri (IDX: BMRI) fits a profile that has historically produced outsized returns on frontier markets: the leading bank of a fast-growing economy, trading at 4.8x earnings wi…

ID 2026-07-14
Bank Mandiri: Indonesia's #2 bank at 4.8x earnings - 18% profit growth, ~9% net dividend, a 2.8%/yr currency hedge
COMM 2026-06-25
US Refiners at Peak Margins: A Deep Dive on PBF Energy