Sea Limited

Posted on | by Leon Hinde | Leave a Comment on Sea Limited

NAS:SE strong Q1 2026 earnings report, which featured a significant revenue beat and record-breaking performance across its core business segments.

Despite an EPS miss ($0.67 vs. $0.77 expected), investors prioritized the massive top-line growth and evidence that Sea’s strategic investments in logistics and AI are improving unit economics. The company demonstrated its ability to scale rapidly while maintaining financial discipline in a competitive Southeast Asian and Latin American landscape.

Significant Revenue Beat: Sea reported GAAP revenue of $7.1 billion, a 46.6% year-over-year increase, comfortably exceeding the analyst consensus of $6.45 billion.

  • EBITDA Milestone: The company achieved a quarterly adjusted EBITDA of $1.0 billion for the first time, representing a 9.3% increase.
  • Shopee Dominance: The e-commerce segment reached record highs with Gross Merchandise Value (GMV) of $37.3 billion (+30.2% YoY) and revenue of $4.5 billion (+44.4% YoY).

Garena Recovery: The gaming division, Garena, delivered its strongest quarter since 2021, with bookings rising 20.1% to $931.4 million, fueled by the continued popularity of Free Fire*.

  • Fintech Growth: Its digital financial services arm, Monee, saw revenue surge 57.8% to $1.2 billion, with its loan book growing 71% while maintaining stable asset quality.

Current Metrics (as of May 12-13, 2026)

  • Market Cap: ~$65.4 billion
  • P/E Ratio: ~38.1x (Trailing)

Inghams

Posted on | by Leon Hinde | Leave a Comment on Inghams

Inghams Group shares rose 6.2% to $1.80 following a trading update that reassured investors about the company’s full-year outlook despite significant external headwinds.

Although Inghams has struggled over the past 12 months (with the share price down over 50% in that period), the market reacted positively to signs of “stabilising” trading conditions and the company’s ability to maintain its earnings forecast despite the spike in diesel and logistics costs.

FY26 Guidance & Financials

  • EBITDA Reaffirmed: Inghams maintained its FY26 underlying EBITDA (pre-AASB 16) guidance of $180 million to $200 million.
  • Previous Cut: This guidance had been revised downward in February 2026 (from a previous $215M–$230M range), so the reaffirmation provided the market with much-needed stability.
  • Operational Momentum: For the first nine months of FY26, group poultry volumes rose 1.1%, and net selling prices also increased by 1.1% compared to the prior corresponding period (PCP).

Strategic & Defensive Measures
To protect its margins against fuel and packaging inflation, Inghams is executing several key initiatives:

  • Cost-Cutting Program: Targeting $60 million to $80 million in annualised savings.
  • Inventory Management: Reduced frozen inventory by $25 million, improving cash flow and system balance.
  • Capital Expenditure: Revised FY26 CapEx guidance to approximately $80 million.

CSL

Posted on | by Leon Hinde | Leave a Comment on CSL

CSL is on a nine-year low of $97.90 after downgrading the outlook for the 2026 fiscal year to now expect revenue at $US15.2 billion and a profit of $US3.1 billion – down on last year’s result. It has flagged $US5 billion ($6.91 billion) in additional non-cash pre-tax impairments over FY26 and FY27.