The excitement of reporting season is nearly behind us. It is now the last few stragglers left to post their financials. This means a much quieter day for ASX shares reporting today compared to yesterday.
Nevertheless, there are still some important names in the lineup that are worth checking out. Each report could be a window of opportunity into the next investment. There can be incredible insights to glean from earnings season, so let’s make the most of it.
To help you on your merry way, here is a quick summary of today.
These ASX shares are releasing their results today
Ranked in order of market capitalisation (largest to smallest)
Accent Group Ltd (ASX: AX1), $1.2 billion
Allkem Ltd (ASX: AKE), $7.3 billion
Block Inc CDIÂ (ASX: SQ2), $64.2 billion
Brambles Limited (ASX: BXB), $16.8 billion
Jumbo Interactive Ltd (ASX: JIN), $917.4 million
Mayne Pharma Group (ASX: MYX), $262.5 million
Mineral Resources Ltd (ASX: MIN), $16.2 billion
Perpetual Ltd (ASX PPT), $2.9 billion
What can we expect to see?
It’s time for another ASX buy now, pay later (BNPL) share to do the walk around the block. Afterpay acquirer, Block Inc CDI (ASX: SQ2), is set to post its fourth quarter and full-year earnings for FY2022 today.
Although, Aussie investors can already get a glimpse of the fintech giant’s numbers due to its US parent company already publishing the details earlier this morning.
By the looks, Block had a fairly solid performance in Q4. Total net revenue increased 14% year on year to US$4.65 billion and gross profits jumped 40% to US$1.66 billion. Furthermore, it appears the company’s BNPL segment assisted in boosting gross profit growth given Block’s comparables excluding this segment weren’t as strong.
However, like Zip Co Ltd (ASX: ZIP), Block reported steepening losses for the quarter and the full year. In Q4, net losses reached US$114 million compared to US$77 million a year prior.
A completely different ASX share that will be grabbing some attention today is lithium producer, Allkem.
The price of lithium began a swift move downwards from mid-November through to the end of the financial period. As such, shareholders will be nervously awaiting clarity on the extent of the impact of weakening lithium prices.
Earlier in the week, I covered the rumblings among analysts on the deteriorating lithium outlook. Fortunately, Allkem’s guidance could shed some light on the expected supply and demand dynamics.
The Allkem share price is now only slightly higher in 2023. On 30 January, shareholders were sitting on a tidy return of 27%, which has since largely disappeared.
Don’t forget to check back in throughout the day for our earnings coverage.
The post Earnings preview: Here are the ASX shares reporting on Friday appeared first on The Motley Fool Australia.
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More reading
- 4 ASX 200 mining shares to buy for takeover potential: expert
- Top brokers name 3 ASX shares to buy today
- Here’s the latest ‘bearish news’ from brokers on ASX 200 lithium stocks
- Why are ASX 200 lithium shares having such a stellar run today?
- Why is the Core Lithium share price rebounding 5% on Tuesday?
Motley Fool contributor Mitchell Lawler has positions in Block and Jumbo Interactive. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Jumbo Interactive, and Zip Co. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended Accent Group and Jumbo Interactive. 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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