At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and has dropped into the red. The benchmark index is currently down 0.4% to 7,217.4 points.
Here’s what is happening on the ASX 200 today:
BHP half year results impress
The BHP Group Ltd (ASX: BHP) share price is pushing higher today after its half year results beat the market’s expectations. The mining giant reported a 27% increase in revenue to US$30,527 million and a 57% jump in underlying profit to US$9,715 million. Goldman Sachs commented: “Better than expected result with underlying EBITDA/NPAT (incl Petroleum) of US$21.4bn/US$10.7bn, +7%/+5% vs our US$20.0bn/US$10.1bn estimates (and vs. Visible Alpha consensus of US$19.9bn/US$9.6bn).”
SEEK delivers better than expected half year result
The SEEK Limited (ASX: SEK) share price is surging higher after its half year results impressed. The job listings company reported a 59% increase in revenue to $517.2 million and a 147% lift in reported net profit after tax (before significant items) to $124.2 million. Goldman notes that its revenue and net profit were 4% and 20% ahead of consensus estimates and even further ahead of its own forecasts. SEEK also upgraded its FY 2022 guidance to levels well-ahead of current estimates.
Ansell posts profit decline
As forewarned in a recent trading update, Ansell Limited (ASX: ANN) has posted a sharp decline in first half earnings. This morning the safety products company reported a 7.6% increase in sales to ~US$1 billion but a 27% decline in profits to US$77.6 million. Ansell’s earnings were impacted by weaker EBIT margins. This includes COVID manufacturing disruptions and higher freight costs.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the Sims Ltd (ASX: SGM) share price with a gain of 17%. This follows the release of a very strong half year result this morning. The worst performer has been the Beach Energy Ltd (ASX: BPT) share price with a 9% decline. This morning analysts at Macquarie downgraded the company’s shares to a underperform rating with a $1.50 price target.
The post ASX 200 (ASX:XJO) midday update: BHP and SEEK impress, Beach sinks appeared first on The Motley Fool Australia.
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More reading
- ‘Excellent performance’: Sims (ASX:SGM) share price rockets 16% on stellar earnings
- BHP (ASX:BHP) share price storms higher following ‘better than expected result’
- Ansell (ASX:ANN) share price gains despite profits tumbling 27% in ‘challenging’ half
- 5 things to watch on the ASX 200 on Tuesday
- Why are ASX 200 bank shares getting so much love today?
Motley Fool contributor James Mickleboro owns SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell Ltd. and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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