Rudi's View | Oct 23 2025
Updates on Model Portfolios, Best Buys, Top Picks, Sector favourites and Conviction Buys.
By Rudi Filapek-Vandyck, Editor
Amidst all the attention about quarterly results in the US, investors better not forget corporate Australia has its own mini-results season in August.
It starts with Amcor ((AMC)), ResMed ((RMD)) and two mining companies on October 31st and ends with Metcash ((MTS)) and Collins Foods ((CKF)) in early December.
In between we’ll hear from tech stalwarts such as TechnologyOne ((TNE)) and Xero ((XRO)), as well as from the likes of Elders ((ELD)), Fisher & Paykel Healthcare ((FPH)), Smartpay Holdings ((SMP)), Webjet ((WEB)) and numerous others.
The FNArena Monitor usually finishes the calendar year with circa 55 post-August financial result updates and thus far the teller shows 11 results monitored.
That’ll become 12 by Friday next week when Newmont Corp ((NEM)) is scheduled to release Q3 financials, implying the coming six weeks or so will see more than 40 financial releases being updated.
Let’s hope underlying trends and the final balance will turn out a lot better than what August had to offer (pretty disappointing).
Thus far, those 11 early updates haven’t exactly been heartwarming either (five disappointments versus two positive surprises).
Local strategists at UBS are optimistic. The outlook continues to improve for commodities and producers and those companies operating in their slipstream (so to speak) should enjoy some of the benefits too.
For November results, UBS is thus expecting positive commentary from the likes of Orica ((ORI)), Dyno Nobel ((DNS)) and ALS Ltd ((ALQ)).
With US consumers still under pressure, the message is investors should probably not expect too much from the likes of Amcor ((AMC)) and James Hardie ((JHX)).
The big revival in the price of gold (if we can call it that) is injecting a lot of momentum into capital raisings by miners and ALS Ltd’s geochemistry testing volumes should be one logical beneficiary.
The ALS share price, the strategists highlight, is closely correlated with the pricing of gold and copper and both are reaching for record highs.
Extra observation: it is for this same reason analysts at Citi are toying with the idea ALS could be in the early stages of a multi-year upgrade cycle for its Commodities business.
Incidentally, Imdex ((IMD)) is equally often highlighted as a beneficiary of increased activity among gold explorers and producers.
UBS’s three Key Buy recommendations for the season are ALS, Orica and Amcor.
Dyno Nobel’s share price is not far off from UBS’s price target ($3.35) and Amcor post-Berry merger is potentially cum double digit EPS growth over the next three years, but the market wants proof of execution.
Clearly, UBS thinks the market is too hesitant, which makes the share price look ‘cheap’ and attractive.
FNArena’s Results Monitor: https://fnarena.com/index.php/reporting_season/
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