Abstract: We analyzed the earnings revision of MS-Australia index constituents for May 2026. The index rose 0.47% to 1,715, while the 2026E consensus EPS declined 0.12% month-on-month to A$92.36, with 18 stocks revised up against 24 revised down. Individual stock EPS revisions contributed -A$0.0815 to the index EPS change. The largest negative EPS impacts came from CSL (ΔIndex EPS=-A$0.28, stock EPS -8.3%), National Australia Bank (ΔIndex EPS=-A$0.20, stock EPS -5.0%), and Evolution Mining (ΔIndex EPS=-A$0.13), while Woodside Energy (ΔIndex EPS=+A$0.23, stock EPS +2.1%) and ANZ (ΔIndex EPS=+A$0.15, stock EPS +0.4%) were the top positive contributors. On a stock EPS revision basis, BHP (+3.74%), Pro Medicus (+3.49%), and Fortescue (+2.32%) led the upgrades, while CSL (-8.32%), National Australia Bank (-4.97%), and Brambles (-4.81%) saw the steepest cuts.
Sigma Pharmaceuticals, Fortescue, Evolution Mining, National Australia Bank, CSL, ANZ
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