Australian property developer Ingenia has made a $711 million offer to acquire Peet, aiming to expand its housing presence in the country.

The company reported strong earnings before interest and taxes for fiscal year 2026, though management maintained a conservative forward guidance due to broader economic uncertainties.

Ingenia reported strong second-half 2026 results, while Electromed beat its Q4 EPS forecast. Despite positive earnings, shares for both companies experienced a decline.