Abstract: We analyzed earnings revisions for MSCI Australia index constituents in July 2026, with the index 2026E EPS declining -2.1% month-on-month to A$90.58 from A$92.53, as 23 stocks saw downward revisions versus 20 upward. Individual stock EPS revisions attributed -A$2.02 to the index EPS change over the month. The largest negative contributors were BHP (ΔIndex EPS: -A$1.04, stock EPS -4.2%), Santos (ΔIndex EPS: -A$0.67, stock EPS -29.4%), Woodside Energy (ΔIndex EPS: -A$0.41, stock EPS -10.3%), Rio Tinto (ΔIndex EPS: -A$0.24, stock EPS -4.4%), and Evolution Mining (ΔIndex EPS: -A$0.18, stock EPS -5.4%). On the upside, QBE Insurance led positive EPS contributors with ΔIndex EPS of +A$0.17. Among individual stock revisions, Santos posted the steepest EPS cut at -29.4%, followed by Lynas Rare Earths at -13.1%, while Pilbara Minerals led upgrades at +9.3% and South32 at +9.0%.
Computershare, BHP, Rio Tinto, Lynas Rare Earths, Woodside Energy, Insurance Australia
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