The Ansell Limited (ASX: ANN) share price is taking off following the release of the companyâs full-year earnings.
The S&P/ASX 200 Index (ASX: XJO) stock has continued on an upwards trajectory after opening 1.5% higher at $25.52.
At the time of writing, the Ansell share price is $27.57, 9.67% higher than its previous close.
Letâs take a closer look at todayâs news from the personal protection and safety solutions provider.
Ansell share price rockets 10% on earnings
As The Motley Fool Australia reported earlier, Ansell posted US$1.95 billion of revenue and US$158.7 million of operating profit for financial year 2022.
Those figures mark respective year-on-year declines of 3.7% and 35.7%, mainly due to waning demand born from COVID-19.
Its earnings per share (EPS), meanwhile, came in within guidance at US$1.252 per share. Thatâs bolstered to US$1.386 when adjusted for costs arising from the companyâs exit of Russia. Its decision to abandon operations in the nation brought a 13.4 US cent impact to its EPS.
Such a result has seemingly impressed the market. Itâs bid the Ansell share price to a multi-week high on the back of the company’s announcement. The results also appear to have pricked the ears of experts.
Macquarieâs David Bailey was quoted by The Australian as saying the companyâs financial year 2022 earnings embody âsolid underlying trendsâ.
The publication said the companyâs statutory result was in line with expectations, while its adjusted earnings were ahead. The expert continued, courtesy of The Oz:
For [financial year 2023], we see commentary ex-Russia and [foreign exchange] as highlighting improved trends and a basis for growth into [financial year 2024].
Ansell posted guidance of between US$1.15 and US$1.35 of EPS for financial year 2023.
Todayâs gains included, the Ansell share price is 16% lower than it was at the start of 2022. It has also fallen 31% since this time last year.
The post Ansell share price surges 10% as full-year revenue comes in at US$1.9b appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 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 Macquarie Group Limited. 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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