ASX AGM Season Is Coming. Here's What to Expect

The ASX reporting season for 2025 has only just finished up, but ASX-listed companies have already turned their attention to the next major event: the AGM (annual general meeting) season.

When is the ASX AGM season?

In Australia, the AGM season is typically a two-month period from October to November.

Companies, including those in the S&P/ASX 200 Index (ASX: XJO) like investor favourites Pilbara Minerals (ASX: PLS) and CSL Ltd (ASX: CSL), are required to hold an AGM and present financial statements within five months after their financial year ends. This means any companies whose financial year ended on 30 June have until Friday, 28 November to hold their AGM.

Many of these companies need to prepare the annual general meeting notice (NOM) and other relevant materials in advance so that shareholders can access them. Usually, this preparatory work begins in late September.

It's an important date for the diary for investors because these AGMs give shareholders the opportunity to review the past year's performance. Investors can also vote on key decisions, ask questions, and even have their say on company policies.

Here's what we can expect from the AGM season in 2025.

Earnings guidance and upgrades

Many ASX-listed companies released a conservative forward earnings guidance in their FY25 financial results. 

Given that borrowing costs are declining, the pressure on living costs has eased, and consumer spending is expected to increase, analysts privately believe that the earnings data for the 2026 fiscal year may also be revised upwards during the annual general meeting season.

AGMs could even become catalysts for a surge in market sentiment if companies deliver revised, and much more optimistic, outlooks.

ESG strategies in focus

ASX-listed companies should disclose clear and relevant sustainability and environmental, social and governance (ESG) strategies, so that shareholders can make informed investment decisions.

An investor emphasis on governance continues to intensify, and remuneration of company executives continues to be a hot topic. 

Investors can expect AGMs to shine a spotlight on pay transparency and fairness. Remuneration reports should be easier to understand. They should also be clearly linked to company performance and be consistent with the company's scale and industry. 

A reasonable composition of the board of directors will also be a key consideration. The board needs to demonstrate its comprehensive ability to possess relevant skills and experience. At the same time, they also need to show diversity, including personnel from different age groups, genders, and regions.

Hybrid AGM meetings

Hybrid AGMs are most popular among ASX 200 companies already, combining virtual access with in-person engagement.

However, nowadays, regulatory authorities require that in these hybrid meetings, any virtual participants must have the same participation rights as those present in person. This means they must be able to vote, ask questions and engage in interaction, just like those who attend in person.