Coles's Earnings Views Likely to Edge Down Despite Positives -- Market Talk

Dow Jones
05/01

2347 GMT - There were several positives in Coles's 3Q update, but RBC Capital Markets expects the market to downgrade EPS forecasts regardless. Coles signaled that sales trends in its supermarkets have extended into 4Q. For analyst Michael Toner, this is a positive. RBC anticipates Woolworths' market share outperformance versus Coles will narrow in the near term. RBC was also upbeat about the absence of an explicit downgrade to Coles's earnings outlook relative to consensus. "Cost commentary is qualitative in nature, and we anticipate consensus cuts to FY 2026 EBIT forecasts for Coles today based primarily on Woolworths's update yesterday and broader sector trends, though this was anticipated regardless of today's print," RBC says. It had a neutral call on Coles ahead of the 3Q update. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

April 30, 2026 19:47 ET (23:47 GMT)

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