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Highlights
Companies like Telix (ASX:TLX), Austal (ASX:ASB), Pro Medicus (ASX:PME), and Cochlear (ASX:COH) continue to strengthen their US footprint.
CSL (ASX:CSL), Reece (ASX:REH), Unibail-Rodamco-Westfield (ASX:URW), and Guzman y Gomez (ASX:GYG) face challenges in their American operations.
US market exposure reveals contrasting outcomes across healthcare, infrastructure, retail, and consumer sectors.
The presence of Australian Securities Exchange (ASX) listed companies in the United States provides an important dimension for the broader ASX 200 index. Businesses across biotechnology, infrastructure, healthcare technology, and retail have experienced varied outcomes in one of the world’s largest markets. While some entities have leveraged the size of the American economy to expand revenue and brand presence, others have encountered hurdles ranging from regulatory setbacks to structural shifts in consumer behaviour.
Which ASX healthcare companies are expanding in the US?
Telix (ASX:TLX) is a biotechnology company specialising in imaging and therapeutics. Its Illucix product, used in prostate cancer diagnostics, has been one of the strongest contributors to its overseas operations. Despite regulatory scrutiny in recent months, the company continues to generate substantial income from the American healthcare sector, underscoring the demand for advanced medical imaging solutions.
Cochlear (ASX:COH) is another healthcare-focused company with strong visibility in the US. Known for its implantable hearing devices, Cochlear products are widely used by patients requiring advanced auditory solutions. While the company does not provide a regional split of revenue, the US remains integral to its growth story, especially amid wider commentary around the impact of tariffs on its international business.
How are Australian companies shaping US infrastructure and technology?
Austal (ASX:ASB) has firmly positioned itself as a shipbuilder with strategic operations in the United States. The company manufactures vessels under contracts that span multiple years, highlighting the significance of the American defence and infrastructure markets. Its order book includes projects designed to support naval capacity, and recent financial disclosures suggest an expanding pipeline across the decade ahead.
Pro Medicus (ASX:PME), a medical imaging software provider, has been steadily increasing its American presence through its Visage platform. The company continues to secure new contracts with US hospitals and healthcare providers, strengthening its role in cloud-enabled diagnostic imaging. With a margin structure that supports profitability and steady growth, Pro Medicus demonstrates how technology-driven services are gaining traction in healthcare.
Which ASX companies are encountering difficulties in the US?
CSL (ASX:CSL), a global biotechnology company, has faced a shift in sentiment due to issues around acquisitions and underperformance in its vaccine unit. The purchase of Vifor has yet to deliver the expected returns, and demand-related challenges in the US have resulted in restructuring, including workforce reductions. These developments illustrate the complexity of maintaining growth momentum in the American healthcare environment.
Reece (ASX:REH), the plumbing and building materials group, has faced significant headwinds in the US housing market. Slower construction activity, combined with consumer hesitancy toward refinancing under higher mortgage rates, has impacted sales. The company has also pointed to local operational challenges, though conditions in the US remain a core issue.
What retail and consumer brands face hurdles in America?
Unibail-Rodamco-Westfield (ASX:URW) has been under pressure in its US property operations. The group closed its San Francisco centre previously, citing crime and security issues, and has since divested a number of malls. However, it has retained ownership of select top-tier sites, including a strong-performing asset in Silicon Valley. Its evolving strategy in North America reflects the balancing act between asset sales and maintaining a high-quality retail portfolio.
Guzman y Gomez (ASX:GYG), a fast-food restaurant group, is still in the early stages of expanding into the US. Despite ambitious plans to open hundreds of stores, execution has been gradual, with limited store openings expected in the near term. After its high-profile listing on the ASX, the company has faced scepticism around its expansion pace, particularly as the American fast-casual dining space is highly competitive.
