The S&P/ASX 200 Index (ASX: XJO) is being dragged lower by the banking sector on Wednesday. In afternoon trade, the benchmark index is down 0.5% to 8,837.5 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

AGL Energy Limited (ASX: AGL)

The AGL Energy share price is down 12% to $8.94. Investors have been selling this energy retailer's shares following the release of its full year results. For the 12 months ended 30 June, AGL Energy posted a statutory loss of $98 million. This includes $596 million of significant items, including an increase in onerous contracts of $398 million. On an underlying basis, the company's EBITDA was down 9% to $2,010 million for the year. Looking ahead, management is guiding to underlying EBITDA of between $1,920 million and $2,220 million in FY 2026. Both its actual result and its guidance have fallen short of expectations.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down over 6% to $1.24. This appears to have been driven by a broker note out of Macquarie. Its analysts have downgraded the energy producer's shares to an underperform rating with a significantly reduced price target of 95 cents. It said: "Underperform. FY26 guidance points to a weaker outlook, and we see BPT having less operational control over its valuation than it has historically (two thirds of value now in non-operated category; Mitsui in West, cet par ADNOC/Carlyle in East if STO takeover proceeds)."

Bravura Solutions Ltd (ASX: BVS)

The Bravura Solutions share price is down 7% to $2.25. This morning, this wealth management software provider released its full year results and posted a 3.1% lift in underlying revenue to $256.8 million and the doubling of its underlying EBITDA to $50.5 million. However, its strong growth appears to be over for the time being, with management guiding to a relatively flat result in FY 2026.

Commonwealth Bank of Australia (ASX: CBA)

The Commonwealth Bank of Australia share price is down 5% to $170.10. The catalyst for this has been the release of the banking giant's full year results. It reported a 7% increase in statutory net profit after tax to $10,133 million and a 4% lift in cash net profit after tax to $10,252 million. The latter was broadly in line with the consensus estimate of $10,270 million. However, its higher than expected costs appear to have raised alarm bells.