3 ASX 200 shares on the move amid strong earnings updates

Three businesspeople leap high with the CBD in the background.Three businesspeople leap high with the CBD in the background.

The S&P/ASX 200 Index (ASX: XJO) is tipping into negative territory today as the big four banks act as an anchor. Meanwhile, other ASX 200 shares are getting plenty of attention for their latest results.

Currently, the benchmark index is 1.22% worse off than where it finished yesterday — hovering around 7,340 points. Some of the biggest hindrances to the Aussie market today include Treasury Wine Estates Ltd (ASX: TWE), Lifestyle Communities Ltd (ASX: LIC), and Computershare Limited (ASX: CPU).

That aside, let’s dive into three companies that have reported today.

Earnings ignite these ASX 200 shares

One company that is seeing its share price driven higher today is GUD Holdings Limited (ASX: GUD). Shares in the automotive parts and water systems seller are jumping 7.86% to $8.92 as investors absorb what appears to be a solid half-year result.

It was a period of phenomenal growth for GUD in the latest six-month period. Primarily driven by acquisitions, revenue was dialled up 55.7% year-on-year to $517 million. Meanwhile, the company’s net profit after tax (NPAT) increased by a blistering 88.7% to $45.6 million.

In terms of outlook, management painted a reasonably positive outlook. The APG brand is expected to benefit from normalisation in sales toward higher historic volumes. Likewise, the remaining automotive business is anticipated to benefit from aging vehicles.

Another ASX 200 share relishing in a commendable result is Netwealth Group Ltd (ASX: NWL). The financial services platform provider’s share price is currently up 4.82% to $13.92.

The three key figures that shareholders ought to be pleased with are the company’s funds under administration (FUA), revenue, and NPAT.

Ultimately, the business relies upon its FUA on the platform. Fortunately, funds on Netwealth increased 12.2% to $62.4 billion in the first half. Similarly, revenue and earnings were grown to the tune of 18.9% and 12.9% respectively.

Despite a strong performance so far in 2023, the Netwealth share price is still down 6.13% over the past year.

Failure to impress with these figures

The third and final ASX 200 share with robust numbers out today is Pro Medicus Ltd (ASX: PME). The imaging software provider’s shares are currently up 0.29% to $65.24 apiece.

Perhaps one of the biggest success stories on the Australian share market may not have lived up to expectations today.

In its half-year report, Pro Medicus served up revenue of $56.89 million — representing an increase of 28.3%. Even better, net profits were 31.5% bigger than the prior corresponding period, perched at $27.19 million.

The improved financials were attributed to some major wins in North America with customers such as Novant Health, Allina Health, and Inova Health.

Nevertheless, it seems investors might be concerned about whether the premium valuation is still compatible following these results. For reference, Pro Medicus currently trades on a price-to-earnings (P/E) ratio of 154 times.

Though, longer-term shareholders couldn’t be upset. Shares in the software company are still up almost 41% compared to this time last year.

The post 3 ASX 200 shares on the move amid strong earnings updates appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has positions in Pro Medicus. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth Group and Pro Medicus. The Motley Fool Australia has positions in and has recommended Netwealth Group and Pro Medicus. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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