Brambles (ASX:BXB) shares climbed 6.4% to a record A$24.75 after the company reported an underlying profit of US$1.37 billion, matching consensus estimates.
Citi noted that Brambles’ guidance for underlying profit growth of 8–11% in constant currency, compared with consensus of 9%, “implies a modest beat at actual FX”. The broker said the outcome “appears driven by cost management with IPEP and D&A expected to increase this year”.
“Looking forward the consumer environment appears to be impacting revenue guide, however better operating leverage than usual [is] driving an inline/modestly ahead underlying profit,” analyst Samuel Seow said.
Seow added that the result supported the company’s strong share price performance despite a challenging macroeconomic backdrop in the second half of 2025.
“Looking forward we like the bottom up factors, that are driving the result in the soft environment,” he said.