Earnings season is building momentum as ASX companies across all sectors unveil their results throughout August.
And leading Australian investment bank Macquarie Group Ltd (ASX: MQG) is sounding optimistic on the market's reactions from the first week of outcomes.
It noted that share price responses have broadly been positive for results reported so far, hinting that investors may be positioning for potential interest rate cuts and a stronger FY26.
The broker pointed to earnings per share (EPS) surprises skewing to the upside, with four beats and only two misses out of 15 results released to date.
Macquarie attributes this encouraging start to stronger-than-anticipated margins – a trend also evident in the US as American consumers remain resilient.
For instance, it highlighted three ASX 200 shares with significant US exposure that delivered notable margin surprises.
These were gold mining giant Newmont Corporation CDI (ASX: NEM), financial technology specialist Block CDI (ASX: XYZ), and media heavyweight News Corporation Class B Voting CDI (ASX: NWS).
Macquarie believes this margin strength could potentially extend to other ASX companies when they report their results.
So, which ASX stocks could also be poised to deliver positive EPS surprises this earnings season?
Let's explore the ASX shares Macquarie has identified.
Macquarie's 6 ASX stock pick ideas ahead of results
Ventia Services Group Ltd (ASX: VNT)
Ventia is a leading infrastructure services provider. It specialises in long-term operation, maintenance, and management of essential public and private assets across Australia and New Zealand.
Origin Energy Ltd (ASX: ORG)
Origin is a diversified energy company with operations spanning natural gas production, electricity generation, wholesale and retail energy sales, as well as the export of liquefied natural gas (LNG).
Telstra Group Ltd (ASX: TLS)
Telstra is a telecommunications business that operates Australia's largest mobile network. It also offers a broad range of services, including mobile and fixed-line telecommunications, data, and digital content for both consumers and businesses.
Dexus Industrial REIT (ASX: DXI)
Dexus is an Australian real estate investment trust with a $1.4 billion portfolio of industrial properties across key Australian cities, alongside a vast pipeline of development projects.
HomeCo Daily Needs REIT (ASX: HDN)
HomeCo is an Australian real estate investment trust specialising in the ownership and management of shopping centres, with a portfolio of 48 sites located in metropolitan growth corridors across major cities.
Temple & Webster Group Ltd (ASX: TPW)
Temple & Webster is an online-only retailer of furniture and homewares, offering a broad selection of products such as furniture, rugs, and lighting. Its products are delivered directly to customers through a drop-shipping model.
