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Highlights:

  • REH share price plunges 14% after FY25 earnings guidance signals more than 18% decline
  • APA Group drops 3.5% to AUD 8.18 as shares trade ex-dividend following FY25 payout update
  • FLT share price down 2.5% amid investor concerns over geopolitical impact on travel demand.

Three ASX-listed companies underperformed the broader Australian market on Friday. The decline in these shares comes amid mixed corporate updates and rising concerns about macroeconomic and geopolitical developments. While the ASX 200 index held steady, the following stocks recorded notable losses.

Reece Ltd (ASX:REH) is a leading distributor of plumbing, waterworks, HVAC, and bathroom supplies. With operations in Australia, New Zealand, and the United States, the company serves residential, commercial, and infrastructure construction markets.

Reece shares fell 14% to AUD 14.88 after the company released a trading update that revised down its FY25 earnings expectations. The company now anticipates FY25 group EBIT between AUD 548 million and AUD 558 million, a drop of over 18% compared to the prior year’s EBIT of AUD 681 million.

Management cited ongoing softness in the housing market and subdued volumes as key factors. CEO and Executive Chair Peter Wilson acknowledged that macroeconomic headwinds continue to pressure demand and that the company has not seen a material improvement in trading conditions in the second half of the financial year.

APA Group (ASX:APA) owns and operates energy infrastructure assets, including gas transmission pipelines, electricity grids, and renewable energy assets across Australia. The company is a major player in Australia's energy supply chain and provides services to both industrial and residential customers.

APA Group shares declined 3.5% to AUD 8.18, largely due to the stock trading ex-dividend on Friday. Earlier this week, the company confirmed it would pay a final distribution of 30 cents per share for the six months ending 30 June 2025. This represents a 1.7% increase over the previous year’s final payout.

The total FY25 distribution will amount to 57 cents per share, in line with prior guidance. Shareholders eligible for the final dividend will receive payment on 10 September 2025.

Flight Centre Travel Group Ltd (ASX: FLT) is one of Australia’s largest travel service providers, offering leisure, corporate, and wholesale travel solutions. The company operates across multiple regions, including Australia, the United States, the UK, and Asia.

FLT shares slipped 2.5% to AUD 12.43, despite the absence of any company-specific announcements. The broader travel sector came under pressure on Friday amid growing geopolitical tensions in the Middle East, which may affect global travel demand, especially during the busy European summer season.