GRAINCORP LTD-A (GNC.AU) saw its stock price plummet by 5.95% during intraday trading on Thursday, following the release of its fiscal first-half results.
The sharp decline came after the company reported significantly lower earnings and revenue for the six-month period. GrainCorp posted earnings of AU$0.021 per share, a steep drop from AU$0.261 per share a year earlier, and well below the AU$0.31 per share analysts had expected. Revenue also fell to AU$3.88 billion from AU$4.09 billion a year ago, missing the analyst consensus of AU$4.08 billion.
Despite the weak first-half performance, the company reaffirmed its fiscal 2026 guidance for underlying EBITDA and underlying net profit after tax. The board declared an interim dividend of AU$0.14 per share, unchanged from the prior year.