The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. In afternoon trade, the benchmark index is down 0.15% to 9,072.5 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Guzman Y Gomez Ltd (ASX: GYG)
The Guzman Y Gomez share price is down 10% to $18.33. Investors have been selling the burrito seller's shares following the release of its half-year results. Guzman Y Gomez reported global network sales growth of 18% to $681.8 million and net profit after tax growth of 44.9% to $10.6 million. Investors may be disappointed with the performance of its US operations, which recorded an EBITDA loss of $8.3 million. This is up from a loss of $5 million a year earlier.
Inghams Group Ltd (ASX: ING)
The Inghams share price is down 16% to $2.05. This has been driven by the release of the poultry producer's half-year results. Inghams reported largely flat revenue of $1.61 billion and a 64.9% decline in net profit after tax to $18.1 million. The latter was driven primarily by higher operating costs in Australia. Looking ahead, management has downgraded its EBITDA guidance for FY 2026. It now expects underlying EBITDA of $180 million to $200 million, which is down from $215 million to $230 million previously. Inghams' CEO and managing director, Ed Alexander, said: "Pre AASB 16 earnings of $80.6 million for the first half of FY26 were disappointing, with the results impacted by the cost of managing excess inventory and supply chain transition inefficiencies as the business implemented an operational reset following customer changes experienced in FY25."
Megaport Ltd (ASX: MP1)
The Megaport share price is down 5% to $10.37. This is despite the release of its half-year results, which revealed record revenue and earnings. Megaport reported a 26% increase in revenue to $134.9 million and EBITDA growth of 28% to $35.3 million. The company's CEO, Michael Reid, said: "Our global business continues to scale, with the United States delivering exceptional momentum, pushing the Americas to 24% YoY ARR growth. This performance was driven by rising NRR and consistent new logo acquisition."
Rio Tinto Ltd (ASX: RIO)
The Rio Tinto share price is down over 3% to $163.18. This follows the release of the mining giant's full-year results. Rio Tinto reported a 9% increase in underlying EBITDA to US$25.36 billion. However, underlying earnings were flat at US$10.87 billion, which led to the Rio Tinto board holding its total dividends at US$4.02 per share. This was short of the market's expectations. Nevertheless, Rio Tinto's chief executive, Simon Trott, was pleased with the year. He said: "Our solid financial results demonstrate clear progress as we embed our stronger, sharper and simpler way of working. We achieved an 8% uplift in CuEq production driven by the ongoing ramp-up of the Oyu Tolgoi underground copper mine and record iron ore production since April from our Pilbara operations."
