Latest California News

Treasury Wine Estates reports a sharp 39.6% drop in earnings and a $649 million statutory loss due to a major US asset impairment, suspending dividends to preserve capital while advancing a $100 million cost-cutting transformation.

Treasury Wine Estates has reported a staggering $649.4 million net loss for the half year ending December 2025, driven by significant impairments on US assets and a drop in revenue. The company has suspended its interim dividend and unveiled a new Luxury-led operating model as it navigates these challenges.

WCM Global Growth Limited reported a 51% drop in net profit for H1 FY2026 but announced an increased fully franked interim dividend, reflecting confidence in its investment strategy. The company’s portfolio outperformed its benchmark over 12 months despite a softer half-year return.

Dateline Resources reports strong diamond drilling results at its Colosseum Gold-REE Project, confirming high-grade gold mineralisation beyond current resource boundaries and advancing plans for mine life extension.

Janus Electric has landed further orders worth approximately A$1.6 million from its authorised California dealer, Electric Vehicle Choice, marking a significant step in its U.S. market expansion. The orders include conversion modules, batteries, and charging infrastructure, with shipment planned for mid-2026.

Kelly Partners Group Holdings Limited has reported a robust 17% increase in revenue for the first half of 2026, driven by strategic acquisitions and expanding international operations, particularly in the US.

James Hardie Industries reported a robust 30% jump in Q3 FY26 net sales, driven by the AZEK acquisition and growth in key regions, while operating income declined amid integration costs and market softness.

Treasury Wine Estates has resolved its dispute with US distributor RNDC following RNDC’s exit from California, with a settlement impacting cash flow but supporting a positive earnings outlook for the first half of 2026.

Locksley Resources has identified the Beefeater Shear, a significant new structural corridor at its Mojave Project, promising to expand high-grade antimony targets. Detailed underground mapping at the Desert Antimony Mine reveals fresh opportunities for resource growth.

Dateline Resources has completed detailed infill geophysical surveys at its Colosseum Gold and Rare Earth Project in California, setting the stage for imminent diamond drilling. The integrated data aims to refine deep structural targets within a 1.1 million ounce gold resource.

Vitrafy Life Sciences has delivered key milestones in the first half of FY26, including a strategic partnership with IMV Technologies and progress in clinical studies, while maintaining a strong cash position to support its U.S. expansion and product launches.

5E Advanced Materials has successfully closed an oversubscribed US$36 million public offering, positioning itself to advance its boron operations and finalise key commercial contracts.