March is often when the dust settles after reporting season. The headlines fade, brokers update their models, and investors start asking a simpler question: which businesses actually delivered?
After reviewing recent half-year results, there are three ASX 200 names I would be comfortable buying this month. They operate in different sectors, but each showed something in their latest numbers that reinforces my confidence.
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Commonwealth Bank of Australia (ASX: CBA)
I'd buy CBA in March because it continues to demonstrate balance.
Yes, margins were slightly lower in the half as home lending competition remained intense. But earnings still grew and pre-provision profit lifted. More importantly to me, credit quality improved. Loan impairment expense declined and home loan arrears fell during the half. That matters.
When a bank can grow earnings while maintaining strong capital, improving credit quality, and increasing its dividend, I see that as confirmation of franchise strength.
CBA's CET1 ratio remains comfortably above regulatory minimums, and it again increased its interim dividend to $2.35 per share, fully franked. I believe that combination of earnings resilience, capital strength, and shareholder returns supports owning it even after a rally.
I'm not buying it for explosive upside. I'm buying it because it continues to prove it can deliver through different parts of the cycle.
Telstra Group Ltd (ASX: TLS)
Telstra's result reinforced something I already believed: this is no longer just a defensive telco, it's a business executing a clear strategy.
Mobiles continued to grow, with higher ARPU and customer momentum driving earnings in that segment. Across the Group, underlying EBITDA lifted and operating expenses fell. That positive operating leverage tells me management is controlling what it can control.
What also stood out was capital management. The interim dividend was increased to 10.5 cents per share, and the on-market buy-back was expanded to up to $1.25 billion. That doesn't happen unless the board has confidence in cash generation and balance sheet strength.
For me, Telstra is attractive in March because it is combining earnings growth, cost discipline, and shareholder returns. It is not dependent on outlandish assumptions. It is executing.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is the one I would buy for quality.
The half-year result showed profit growth of over 9%, supported by strong contributions from Bunnings, Kmart Group, and WesCEF. What I found particularly encouraging was that Bunnings delivered higher sales across all product categories and segments, even in a subdued residential construction environment.
Kmart Group also continued to drive earnings through productivity and value positioning. That reinforces my view that its everyday low-price model has structural strength.
The lithium contribution from WesCEF improved as pricing strengthened later in the half, adding another layer of optionality to the portfolio.
On top of that, the interim dividend was lifted again. For a diversified industrial group navigating cost pressures and uneven consumer demand, that signals confidence.
I like businesses that can grow profit in a mixed environment. Wesfarmers just did.
Foolish takeaway
I'm not recommending these shares for March because they beat expectations. I'm recommending them because their latest results confirmed what I already believed.
CBA remains the highest-quality major bank in Australia, Telstra is delivering earnings growth with disciplined capital management, and Wesfarmers continues to compound value across multiple divisions.
