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Quarterly Reporting for ASX Companies: What You Need to Know

What is Quarterly Reporting?

Quarterly reporting provides a three-month snapshot of a company’s trading performance and operational highlights. While not mandatory for all ASX-listed companies, many large firms (particularly in retail, resources, and financial services) publish these updates to maintain transparency with investors and the market.

For companies with a 30 June financial year-end, Quarter 3 (Q3) covers January to April 2025, and we’re now seeing results for this period being released.

These updates are closely watched by investors, as they offer early indicators of whether a company is on track to meet its full-year forecasts.

This week we are doing something different and reviewing a quarterly report released by Woolworths. This can be found here and can be read in conjunction with this article.

Looking at Woolworths Quarterly Report 

Let’s walk through Woolworths Group’s Q3 FY25 report and highlight what to look for.

Headline Numbers

These are found early in the report:

  • Total Sales: $17.3 billion (up 3.2%)
  • eCommerce Sales: $2.2 billion (up 15.7%)
  • Customer Satisfaction (NPS): 44 (up 1 point)

These metrics give you a broad sense of growth and customer sentiment.

Segment Breakdown

Woolworths breaks down performance by division:

  • Australian Food: $13.05B (+3.6%)
  • B2B: $1.44B (+6.3%)
  • New Zealand Food: NZD 2.12B (+4.8%)
  • BIG W (W Living): $986M (-1.5%)

This section shows where the growth is coming from and which parts of the business may be under pressure.

CEO Commentary

CEO Amanda Bardwell outlines strategic focus areas:

  • Lowering prices for customers
  • Managing inflation and weather-related disruptions
  • Investing in digital capability and online delivery

This narrative is important — it provides context behind the numbers and the company’s future direction.

Operational Metrics

Watch for insights on:

  • Comparable sales growth: Reflects underlying growth, excluding new stores
  • Items per basket: Indicates consumer spending behaviour
  • Online penetration: Signals the shift to digital channels
  • Customer loyalty metrics: Like NPS or scan rates in loyalty programs

These reveal how well the business is executing.

Important Considerations When Reading Quarterly Reports

While quarterly reports provide timely insight, they are only one part of the bigger picture. Here are several key points to keep in mind when evaluating them:

Every Report Tells a Story — and It’s Meant to Look Good

Quarterly updates are often carefully curated communication pieces. Companies highlight their strengths and strategic wins, and while they do acknowledge challenges, the tone tends to be optimistic. Always read with a critical lens. For instance, if profit guidance is vague or missing, or if growth is driven by one-off events (like seasonal promotions), that should be noted.

These Reports Are Backward-Looking

The data presented covers past performance. However, share prices are forward-looking — they reflect what investors believe a company will earn in the future. That means it’s crucial to pay attention to:

  • Forward guidance or commentary on outlook
  • Strategic initiatives (e.g., new stores, digital expansion)
  • External risks (consumer confidence, supply chain, regulation)

Compare Against Competitors and Market Conditions

Growth of 3% may seem strong in isolation, but how does it compare to other retailers or the broader sector? Benchmarking against industry peers and the macroeconomic backdrop helps assess whether performance is truly above average.

One Quarter Doesn’t Make a Trend

A single quarterly result doesn’t reveal long-term performance. Look for consistency across multiple quarters or years, and consider how seasonal impacts (e.g., Easter timing, weather disruptions) might affect the result.

Some Financials Are Missing

Quarterly trading updates usually don’t include:

  • Net profit or margins
  • Cash flow
  • Balance sheet details

These are only published in half-year and full-year reports, which provide the complete financial picture. Use quarterly updates to spot momentum, not to make full financial assessments.

Final Thoughts

Quarterly reports are a valuable tool for staying informed and spotting trends — particularly in companies you own or are considering investing in. However, they should always be viewed in context. Be mindful of how results are framed, compare across competitors, and remember that the most important driver of share prices is what happens next.

If you have any questions please feel free to reach out.