Macquarie Shares Drop Sharply After Half-Year Earnings Disappoint
Macquarie Group experienced its biggest one-day share decline since April, following half-year financial results that fell short of analyst forecasts. The main factor was weaker earnings from its commodities division.
By midday, Macquarie shares fell 6.7% to $202.56, approaching an intraday low of $202.37. This decline is the largest since April 4, when the stock dropped 9% amid market disruptions triggered by tariff announcements.
Company Overview
Macquarie is a diversified financial services firm offering asset management, banking, advisory, risk, and capital solutions across debt, equity, and commodities. It operates globally but has a strong base in Australia.
Financial Performance
- Net profit reported: nearly $1.7 billion
- Profit boosted by performance fees in the asset management division
- Missed analyst expectations of $1.86 billion profit and $3.09 interim dividend
- Earnings per share (EPS): $4.37, falling 10.9% short of projections
UBS analyst John Storey commented, “The reported result was 10.4 per cent below consensus estimates.”
Despite a solid profit, the results disappointed investors, reflecting challenges in the commodities sector.
Author’s Summary
Macquarie’s half-year results showed a significant earnings miss mainly due to weaker commodity profits, triggering the largest intraday share drop since April.
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