0035 GMT - Domain's first-half result helped send the Australian real-estate advertiser's shares higher in early trade, but it wasn't all good news for Citi analyst Siraj Ahmed. He tells clients in a note that the Nine Entertainment-controlled classifieds group lowered its listings growth outlook, while residential depth revenue growth also slowed in the December quarter. The interim dividend also fell short of the average analyst forecast, he adds. Citi has a last-published neutral rating and A$3.20 target price on the stock, which is up 9.3% at A$2.985. (stuart.condie@wsj.com)

0001 GMT - Orora's earnings guidance is likely to trigger more downgrades to market forecasts, reckons Jefferies. Orora signaled 2H EBIT would be in line with a year earlier, which implies a 9% miss to consensus hopes, analyst Henry Copley says. That view appears to be reflected in Orora's stock falling 3.9% to A$2.25 today. The share-price decline is despite Orora's 1H net profit exceeding expectations on lower net interest costs and tax. Jefferies has a buy call and A$3.00 price target on Orora. (david.winning@wsj.com; @dwinningWSJ)

2353 GMT - Origin Energy's shares gain 1.6% after its 1H result beat consensus expectations, shrugging off lower earnings from minority-owned business Octopus. Citi says Origin's A$1.02 billion net profit was 4% ahead of market hopes, while an interim dividend of A$0.30/share was also stronger. "We had a negative outlook into today's result after the cash tax and APLNG guidance came in soft at the quarter," says analyst James Byrne, referring to the Australia Pacific LNG facility. Citi removes its negative outlook, while retaining a buy call on the stock. It says Origin's pared earnings guidance for Octopus reflects heavier investment in technology rather than poor risk management, which had been a concern for some investors. (david.winning@wsj.com; @dwinningWSJ)

2343 GMT - Orora's transition to a specialist drinks packaging company allows Citi to get a cleaner look at its cans business, which previously was folded into a business unit with glass manufacturing. Citi's initial conclusion: it looks world class. "On first take Ebitda margins at 15-16% appear comparable to global comparisons of 15-17%," says analyst Samuel Seow, who is also impressed by the four-year growth outlook for cans sales. Still, investors may not reward Orora much in the near term. Citi notes that valuations of Orora's global peers have pulled back materially in the past six months, "potentially reducing some re-rating opportunity." Citi has a neutral call on Orora, which is down 3% today. (david.winning@wsj.com; @dwinningWSJ)

2338 GMT - Temple & Webster's bull at Citi is largely unconcerned by the Australian furniture retailer's softer revenue growth at the start of the June half. Analyst Siraj Ahmed tells investors in a note that second-half sales are already accelerating from that softer start, when relative growth was hit by the comparative strength of the prior-year period. On-year revenue growth is at 19% in February and getting to the expected 23% growth over the whole of the fiscal half is unlikely to happen linearly, he adds. Citi has a last-published buy rating and A$13.50 target price on the stock, which is up 11% at A$15.79. (stuart.condie@wsj.com)

2332 GMT - The expansion of AGL Energy's battery portfolio has grabbed the attention of UBS, which thinks it bodes well for rival Origin Energy. Analyst Tom Allen expects batteries to drive consensus upgrades to EPS forecasts from FY 2026. This provides "a strong read-through for Origin Energy, which we believe has the strongest battery portfolio in development across the market," UBS says. Still, the battery rollout means it must invest more. AGL expects to take a final investment decision on 1.4 gigawatts of new battery capacity over the next 18 months. "Despite forecasting materially higher EPS than consensus from FY 2027 we remain neutral rated as we see the potential for higher shareholder returns moderated by the scale of AGL's long-term reinvestment challenge," UBS says. (david.winning@wsj.com; @dwinningWSJ)

2331 GMT - Temple & Webster's first-half results contradict the bear thesis that growth and margin are mutually exclusive, RBC analyst Wei-Weng Chen says. The Australian furniture retailer's 1H revenue was 2.4% stronger than anticipated by Chen, who was already bullish on the stock. At the same time, a 4.2% Ebitda margin was well above the company's full-year guidance for 1%-3%. Revenue growth at the start of the June half is down relative to the December half, but Chen points out in a note to clients that it is accelerating and will benefit from a softer prior period. RBC has an outperform rating and A$14.28 target price on the stock, which is up 7.9% at A$15.41. (stuart.condie@wsj.com)

2327 GMT - While GrainCorp's initial guidance for FY 2025 earnings disappoints RBC Capital Markets, it could just be acting conservatively. GrainCorp has pointed to FY 2025 Ebitda of A$270 million-A$320 million, missing consensus expectations by some 10%. Still, analyst Owen Birrell says there is a higher degree of market uncertainty than in previous years. Specifically, GrainCorp called out "recent uncertainty in global trade policies" among issues that could influence annual earnings. GrainCorp's shares fall 8.7% in early trade, with a new A$50 million share buyback program offering only limited support.(david.winning@wsj.com; @dwinningWSJ)

2317 GMT - South32's 1H result should be neutral for shares as solid earnings--in line with consensus estimates--and a modest dividend beat are balanced by ongoing cost pressures, says Citi analyst Paul McTaggart. "Meeting earnings expectations a positive offset by raised 2H FY25 unit cost guidance," he says in a note. Citi has a neutral rating and A$3.90 target on the stock. South32 ended Wednesday at A$3.43/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires