Earnings call transcript: Freightways posts strong H2 2026 results as fuel costs bite

Freightways Limited released its FY 2026 earnings results, showing a 13.5% increase in revenue to NZD 1.5 billion and a 17% rise in net profit after tax. However, the stock price dropped 1.42% to $13.85 due to concerns over weaker demand, higher fuel costs, and uneven margin trends. The company reported a strong performance in FY 2026 despite operating in a complex economic environment with a recession, rising fuel prices, and fluctuating consumer demand.

Express services in Australia were a bright spot, while some New Zealand businesses experienced margin declines. The stock closed below $14.05 and remained within the $11.51-$15.25 range. Investors were cautious about the outlook after the earnings call. Management expects fuel prices to remain a drag on volumes until they fall, and the company is focusing on expanding in Australia, where it now holds 40% of its operations.