The Argo Global Infrastructure Ltd (ASX: ALI) share price is performing well in Monday’s session. The listed investment company (LIC)‘s shares are currently up 3.88% at $2.68 each, defying the gloom of the broader market.

This share price gain comes after Argo Global Infrastructure reported its full-year earnings for the 2022 financial year this morning.

What did the company report?

• Net profit of $29.9 million, up 59% on $18.8 million for FY21
• Net tangible assets (NTA) of $2.45 per share, up 4.3% from $2.35 at the end of FY21
• Final and fully franked dividend of 4.5 cents per share, unchanged from FY21 final dividend
• Full-year dividend of 8 cents per share, also unchanged from FY21

What else happened in FY22?

Argo reports that its Argo Infrastructure portfolio delivered a return of 12.2% for the 12 months to 30 June 2022. That vastly outperformed the S&P/ASX 200 Accumulation Index’s loss of 6.5%.

The company cited a weaker Aussie dollar, as well as returns from “midstream energy pipelines and storage assets, in the wake of Russia’s invasion of Ukraine” as factors in this portfolio performance.

What did management say?

Here’s some of what Argo Global Infrastructure’s management had to say on the results:

Despite challenging macro-economic conditions and considerable volatility over recent months, global infrastructure stocks have continued to display resilience. When broader global and local equities plunged -4.7% and -8.8% respectively in June this year, global listed infrastructure fell just -2.1%.

This strong relative performance reflects the generally defensive characteristics of the asset class and demonstrates its downside protection and low correlation to broader equities.

What’s next?

Going forward, Argo Global Infrastructure’s management is expecting that “strong private investor demand for infrastructure assets is set to continue“, both in Australia and globally.

The company also stated that “in the immediate term, we expect the outlook for infrastructure stocks will continue to be shaped by macroeconomic factors, including higher inflation, rising interest rates and the potential for slower economic growth”.

Argo Global Listed Infrastructure share price snapshot

The Argo Global Infrastructure share price has had a strong showing in recent months. That perhaps reflects the strong performance of its underlying investment portfolio. The LIC is currently up 12.5% in 2022 so far, and 15% over the past 12 months.

At the current Argo Global Infrastructure share price, this ASX LIC has a market capitalisation of $452 million, with a dividend yield of 2.9%.

The post Argo Global Listed Infrastructure share price jumps on ‘strong outperformance’ appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is the Rio Tinto share price having such a lousy start to the week?
• Should you buy these ASX 200 shares after the market selloff?
• Why Aussie Broadband, Grange, NextDC, and PolyNovo shares are being hammered
• Guess which company just became the first ASX cannabis share to pay a dividend
• Here are the 3 most heavily traded ASX 200 shares on Monday

Motley Fool contributor Sebastian Bowen 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/AHcpjkL

The Rio Tinto Limited (ASX: RIO) share price is off to a disappointing start to the week.

This comes despite the company not releasing any new announcements to the ASX.

At the time of writing, the mining giant’s shares are slipping 2.25% to $96.44.

What’s dragging Rio Tinto shares lower?

There are a couple of reasons why the Rio Tinto share price is trading in negative territory today.

First and foremost, investors are heading for the hills following a strong sell-off on Wall Street late last week.

The market had kept a close watch at the United States Federal Reserve’s annual Jackson Hole economic symposium on Friday.

However, at the event, the central bank’s chair Jerome Powell made hawkish comments about keeping inflation under control. He reiterated the goal to bring down inflation levels to 2% compared to the 8.5% recorded last month.

This means that a 0.75% rate hike could be on the cards for September. And the market appears to be pricing this in.

In addition, the release of Fortescue Metals Group Limited (ASX: FMG)’s results seems to have dampened sentiment for Rio Tinto.

While the iron ore miner recorded an outstanding operational performance, key financial metrics fell by double digits.

Currently, Fortescue shares are down 4.4% to $19.

And lastly, iron ore futures are falling 4.4% to US$101.15 per tonne amid a downbeat outlook on the steel-making ingredient.

Rio Tinto share price summary

Since the beginning of the year, the Rio Tinto share price has moved in circles to register a loss of 3.68%.

For the moment, its shares are in a sideways channel around the psychological $100 mark.

Based on today’s price, Rio Tinto presides a market capitalisation of approximately $36.6 billion.

The post Why is the Rio Tinto share price having such a lousy start to the week? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• How does the BHP dividend stack up against the latest Fortescue payment?
• Everything you need to know about the trimmed-down Fortescue dividend
• Fortescue share price backtracks as final dividend is slashed by 43%
• 5 things to watch on the ASX 200 on Monday
• Earnings preview: Here are 3 ASX 200 shares reporting next week

Motley Fool contributor Aaron Teboneras 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/wFycuns

The market is a sea of red on Monday after Australian investors responded to a selloff on Wall Street on Friday night.

While the declines are disappointing, it could have created an opportunity for investors to invest in some shares at a better price.

Two ASX 200 shares that analysts are tipping as buys are listed below. Here’s what they are saying:

Pro Medicus Ltd (ASX: PME)

The first ASX 200 share to look at is Pro Medicus. It is a leading health imaging technology provider offering a range of software and services to hospitals, imaging centres, and health care groups across the globe.

Earlier this month, the company released its full year results and smashed expectations again with some stellar earnings growth.

The team at Morgans were particularly impressed. The broker commented:

Pro Medicus recorded another year of strong growth across all metrics with the key highlight being further EBIT margin expansion to 67% well above expectations, highlighting the operating leverage of the business.

It’s an impressive story, and one which we view with longevity. While currently fairly priced, we continue to view this as a strong long-term growth story which will continue to grow into its high multiple. Buyers on any weakness – it’s typically short-lived.

Morgans currently has an add rating and $58.18 price target on the company’s shares.

REA Group Limited (ASX: REA)

Another ASX 200 share to consider is the ANZ region’s leading property listings company, REA Group.

Like Pro Medicus, it was on form in FY 2022, delivering another strong result earlier this month. Once again, it also revealed that it has materially more visitors to its sites than its nearest rival, which appears to be providing it with significant pricing power.

The team at Goldman Sachs were impressed with this result and remain positive on the future. It commented:

Overall we thought the REA result, commentary and cash performance was positive.

Management remains committed to double digit yield growth in FY23E (GSe +11% incl. +6% price, +2% Premiere Plus, +2% strong Premiere All uptake & +1% new products). We remain very confident in the company’s ability to hit its double digit growth target, but do note our estimates could be impacted by geographic mix, attachment of new products such as Audience Max & Premiere+ and the use of ‘exceptions’ that agents have within contracts.

We remain Buy (on CL), with this result and positive yield outlook supporting our recent upgrade of REA.

Goldman has a conviction buy rating and $164.00 price target on REA’s shares.

The post Should you buy these ASX 200 shares after the market selloff? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why I’m watching these ASX All Ordinaries shares like a hawk
• 3 ASX 200 shares going ex-dividend tomorrow
• ASX 200 better buy: REA or Domain shares?
• Pro Medicus share price tipped to rise amid ‘strong long-term growth story’
• Brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/hUDz7eJ

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and plunged into the red. At the time of writing, the benchmark index is down 1.9% to 6,967.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price is down 13% to $2.71. Investors have been selling this broadband provider’s shares after the release of its full year results. That’s despite the company reporting a 56% increase in revenue to a record $546.9 million and more than doubling its EBITDA to a record of $39.4 million. The market appears to have been expecting even stronger results.

Grange Resources Limited (ASX: GRR)

The Grange share price is down 28% to 98 cents. This morning the iron ore pellet miner released its half year results and revealed a sharp drop in sales and earnings. Grange reported a half year profit of $132.2 million, down almost 36% from $205.3 million a year earlier.

NextDC Ltd (ASX: NXT)

The NextDC share price is down over 6% to $10.26. Investors have been selling NextDC’s shares after a selloff on Wall Street on Friday night offset the release of a strong full year result. This morning, the data centre operator reported an 18% increase in revenue to $291 million and 26% lift in underlying EBITDA to $169 million. The latter was ahead of its guidance range of $163 million to $167 million.

Polynovo Ltd (ASX: PNV)

The Polynovo share price has continued its slide and is down a further 18% to $1.34. Investors have been selling down this medical device company’s shares after its full year results disappointed last week. The market selloff today certainly hasn’t helped matters, particularly given the lofty multiples its shares trade on.

The post Why Aussie Broadband, Grange, NextDC, and PolyNovo shares are being hammered appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 tech shares are getting hammered on Monday. Here’s why
• NextDC share price powers down 7% despite turning a profit
• Aussie Broadband share price plummets 18% despite record revenue, earnings
• Polynovo share price plummets 15% despite surging full-year revenue
• Why City Chic, Macquarie Telecom, Polynovo, and Smartgroup shares are sinking

Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband Limited and POLYNOVO FPO. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/R4ECjc9

The Cronos Australia Ltd (ASX: CAU) share price is lifting today amid the company’s FY22 results.

Cronos shares are currently trading at 36 cents, a 4.35% lift. In contrast, the S&P/ASX 200 Index (ASX: XJO) is falling 1.94% today.

Let’s take a look at what this ASX cannabis share reported today.

Net profit surges by 324%

Highlights of Cronos Australia’s FY22 results include:

• Net profit after tax (NPAT) surged 324% on previous financial year to $6 million
• EBITDA lifted 390% on FY21 to $10.5 million
• Revenue rose 208% to $67 million
• Fully franked dividend of 1 cent per share

What else did the company report?

Cronos reported average gross margins between 35% to 40% on its products.

Receipts from customers lifted 245% on the previous year, while net cash flows from operations soared 1,164% to more than $13.5 million.

Cronos said it is the only ASX medicinal cannabis company to declare a dividend. The company is also inviting shareholders to take part in a dividend reinvestment plan.

Cronos now has $16.1 million cash at the bank and no debt aside from standard leases.

The company’s medicinal cannabis patients have lifted from nearly zero in 2018 to 100,000 in 2022.

The dividend will be paid on 11 October.

Management commentary

Commenting on the results and dividend, executive director Rodney Cocks said:

Cronos Australia is very pleased to be able to declare a dividend to its shareholders at 1.0 cent
per share, fully franked.

This is, yet again, another first for Cronos Australia, being the first ASX-listed medicinal cannabis company to report a profit and now, the first to declare a dividend.

The Company has achieved record growth during the 2022 financial year and it is
gratifying that the Company can share its success with its shareholders in a very tangible way.

What’s next?

This ASX cannabis share is predicting revenue in FY21 to be more than $100 million, based on current sales and growth.

Cronos said the Australian medicinal cannabis market is expected to be more than $400m by the end of the 2022 calendar year, nearly 74% higher than the 2021 calendar year.

Cronos believes it is well positioned for “sustainable, scalable growth” in FY23 and the years ahead.

Cronos share price snapshot

The Cronos Australia share price has soared 227% in a year, while it has climbed 80% year to date.

In the past month alone, this ASX cannabis share has lifted 24%.

For perspective, the benchmark ASX 200 Index has lost nearly 7% in the past year.

The post Guess which company just became the first ASX cannabis share to pay a dividend appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Can ASX cannabis shares ever fully recover?

Motley Fool contributor Monica O’Shea 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/Gdrb6U5

The S&P/ASX 200 Index (ASX: XJO) is off to a shocking start to the trading week so far this Monday. At the time of writing, the ASX 200 has lost a depressing 1.92% at just under 6,970 points. Ouch.

But rather than letting that make a Monday even worse, let’s instead delve a little deeper into this market pain and take a look at the ASX 200 shares currently topping the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

South32 Ltd (ASX: S32)

First up today we have mining giant South32. This ASX 200 resources share has had a notable 13.43 million shares trade hands on the markets thus far. In this case, it seems a nasty share price fall is behind this volume. There’s been no major news out of the company today.

But that has not stopped South32 from getting caught up in the market’s selloff, with the miner currently down a painful 3.19% at $4.095 a share.

Telstra Corporation Ltd (ASX: TLS)

Next up today is ASX 200 telco Telstra. A hefty 13.64 million Telstra shares have found a new caller as it currently stands this Monday. There has been nothing new out of Telstra during this ASX session.

So these falls are probably the result of the tumble Telstra shares have been enduring during this session. The telco is currently nursing a loss of 0.99% at $3.99 a share.

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium producer Pilbara Minerals is our final share to check out today. In PIlbara’s case, a sizeable 24.92 million shares have been bought and sold on the share markets this Monday.

Again, with no news out of Pilbara, we can probably thank the falls in the company’s shares themselves. In Pilbara’s case, this lithium stock has lost a chunky 2.11% to $3.475 a share.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Are Pilbara Minerals shares better value than Allkem right now?
• How much income will Telstra shares pay for FY22 after this month’s dividend hike?
• What’s the outlook for the South32 share price following the miner’s latest results?
• Top brokers name 3 ASX shares to buy next week
• ASX 200 reporting season weekly wrap: Top risers and fallers

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation 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 positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/kuzg6hQ

The S&P/ASX 200 Index (ASX: XJO) is having a day to forget on Monday. In afternoon trade, the benchmark index is down 1.9% to 6,967.1 points.

Four ASX shares that have managed to avoid the selloff and push higher are listed below. Here’s why they are rising:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 9% to $5.36. Investors have been buying this infant formula company’s shares after its full year results impressed. Not only did A2 Milk deliver a net profit after tax ahead of expectations, it decided to return some of its huge cash pile to investors. A2 Milk intends to return NZ$150 million via an on-market share buyback.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 5% to $19.61. This morning the fashion jewellery retailer released its full year results and revealed a 59.3% increase in revenue to $458.7 million and a 116.3% jump in net profit after tax to $59.9 million. Management also advised that price increases introduced during the third quarter to combat inflation delivered sales growth with minimal impact to volumes.

McMillan Shakespeare Limited (ASX: MMS)

The McMillan Shakespeare share price has jumped 14% to $14.60. This follows the release of the salary packaging company’s full year results for FY 2022. The company reported 9.2% increase in revenue to $594.3 million and a 16.5% increase in underlying profit to $83.8 million. This and its strong balance sheet have allowed an off market share buyback to be announced.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price has risen 6% to $1.06 following the release of the payments company’s full year results. Tyro reported a 39% increase in revenue to $229.2 million but a loss after tax of $29.6 million. The company finished the period with a total of 109,248 terminals, which was up 4% year over year.

The post Why A2 Milk, Lovisa, McMillan Shakespeare, and Tyro are storming higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Everything you need to know about the latest A2 Milk share buyback
• A2 Milk share price soars 8% as company regains money-making mojo
• McMillan Shakespeare share price revs 9% higher on bumper final dividend
• Tyro Payments shares surge as gross profit lifts 34% in FY22
• Lovisa share price lifts as full-year profit surges 116%

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended A2 Milk, Lovisa Holdings Ltd, and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/eNDpIz7

The Woodside Energy Group Ltd (ASX: WDS) share price is in the red alongside the broader market on Monday as the company gears up to post its half-year earnings tomorrow.

No doubt all eyes will be on the S&P/ASX 200 Index (ASX: XJO) energy giant on Tuesday morning.

In the meantime, however, it’s trading in the red. The Woodside share price is currently $35.405, 1.52% lower than its previous close.

For context, the ASX 200 has slumped 1.92% so far today while the S&P/ASX 200 Energy Index (ASX: XEJ) has slipped 1.45%.

Let’s take a closer look at what’s going on with Woodside on Monday and what the market might expect from the company tomorrow.

Woodside share price slips ahead of half-year results

The Woodside share price is sinking despite oil prices having closed higher last week.

The Brent crude oil price rose 1.7% to US$100.99 a barrel on Friday, leaving it 4.4% higher than it finished the previous week. Meanwhile, the US Nymex crude oil price lifted 0.6% to US$93.06 a barrel, ending the week 2.5% higher.

But that’s not translating to gains in the energy sector. It’s being weighed down by shares in Worley Ltd (ASX: WOR) and Paladin Energy Ltd (ASX: PDN) – they’re falling 4.8% and 4.1% respectively right now.

But that might all turn around tomorrow as Woodside reports for the first time since it absorbed BHP Group Ltd (ASX: BHP)’s petroleum business.

Prior to the merger, Woodside expected to produce between 92 million barrels of oil equivalent (MMboe) and 98 MMboe over the whole of 2022. More recently, that was upped to between 145 MMboe and 153 MMboe.

On top of that, oil prices surged in the first half of 2022 following Russia’s invasion of Ukraine. That may have helped to bolster the ASX 200 giant’s bottom line.

Despite today’s downturn, the Woodside share price is still boasting huge gains. It has lifted 56% since the start of 2022. It’s also trading 77% higher than it was this time last year.

The post Woodside share price slumps ahead of tomorrow’s earnings update appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 things to watch on the ASX 200 on Monday
• Earnings preview: Here are 3 ASX 200 shares reporting next week
• 5 things to watch on the ASX 200 on Friday
• Why did the Woodside share price hit a 2-year high on Thursday?
• 5 things to watch on the ASX 200 on Thursday

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/iR2TFaC

The BWX Ltd (ASX: BWX) share price won’t be going anywhere on Monday.

This comes as the company requested the ASX that its shares be suspended from quotation immediately.

Currently, the personal care products company shares are frozen at 63 cents apiece.

Why is the BWX share price suspended?

The company requested the BWX share price to be suspended as it requires additional time to prepare its full-year results.

Previously, BWX had been scheduled to release its audited FY 2022 results to the market tomorrow.

However, due to irregularities in its financial reports, the company has asked the ASX for the suspension to last until 30 September.

BWX stated that it “anticipates the suspension will cease on it lodging an Appendix 4E and audited accounts with ASX in relation to its FY22 full financial year.”

What does this mean?

Management provided some further insight in regards to why it needed more time to collate its FY 2022 results.

It said that “certain revenue recognition issues for FY21 and FY22 and the likely impairment of its intangible assets to a level significantly below their carrying value as previously foreshadowed to the market on 28 June 2022.”

This means that BWX could fall short of its previously stated full-year guidance for FY 2022.

Following its trading update and capital raise announcement in June, the company forecasted revenue to be approximately $206 million (before significant items).

FY22 forecast of earnings before interest, tax, depreciation and amortisation (EBITDA) (before significant items) was projected to be around $6 million to $10 million.

And on the bottom line, net profit after tax (NPAT) (before significant items) was forecasted to come at a loss of roughly $10 million to $14 million.

About the BWX share price

Since this time last year, BWX shares have headed on a downhill trend to hit an all-time low of 61 cents on 23 August.

Ultimately, this led the company’s shares to register a loss of 88% for the period.

Based on today’s price, BWX has a market capitalisation of around $125.99 million.

The post Why is the BWX share price on ice today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Nitro Software share price plunges 7% amid $25 million loss
• How does the BHP dividend stack up against the latest Fortescue payment?
• Everything you need to know about the latest Northern Star dividend
• Here’s why the Bitcoin price just dipped back below US$20,000
• What makes ‘Dividend Aristocrats’ a great investment for you?

Motley Fool contributor Aaron Teboneras 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 BWX Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/8SqC4MO

The Nitro Software Ltd (ASX: NTO) share price has taken a hit today amid the company releasing its half-year results for the first half of FY2022.

Shares of the document solutions software as a service (SaaS) startup are currently trading for $1.12 each, down 7.05% on Friday’s closing price.

Let’s go over the highlights of the company’s results for the half year ending 30 June 2022.

What did Nitro Software report?

• Operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) down 107% year over year (yoy) to a $US6.3 million ($AU9.18 million) loss
• Net loss up 101% yoy to US$17.3 million ($AU25.22 million)
• Annual recurring revenue (ARR) up 52% yoy to $US51.5 million ($AU75.09 million)
• $US35.2 million ($AU51.32 million) in cash holdings and no debt
• No dividend declared

Nitro reported higher operating expenses during the reporting period. Research and development (R&D) accounted for the largest increase, growing 58% yoy.

The company also recorded a significant depreciation and amortisation (D&A) line item. This figure jumped 265% yoy to $US3.3 million ($AU4.81 million), affecting Nitro’s net loss.

On the positive side, the company reported a strong compound annual growth rate (CAGR) for its ARR and subscription revenue. They grew 54% and 60% respectively from June 2020 to June 2022. Another win for the company was its high-quality earnings, with 67% of revenue coming from Fortune 500 companies.

What else happened?

Nitro Software has accelerated its transition to subscription revenue since FY2017 for its business sales channel. Subscription revenue increased to 90% in 1H2022, up from just 14% in FY2017.

The company also landed a couple of marquee clients in the first half of 2022, including a US insurer that gave the platform an additional 10,000 users. Another client in the Fortune 100 index purchased 9,000 Nitro PDF licenses in 2017.

What did management say?

Nitro Software co-founder and CEO Sam Chandler said:

Although the first half did not meet all our expectations for performance, it was still a period of growth in which ending ARR grew by 52% and scaled to over US$51 million after more than doubling in the two years to June 30. Subscription revenue also grew fast, increasing 55% year-on-year. But macroeconomic conditions have been challenging, and sales cycles lengthened towards the end of the period. As a result, we revised our plan for the second half including restructuring our Go-to-Market organisation for improved performance and efficiency, reducing costs by US$5 million, and accelerating the pathway to cash flow positive.

What’s next?

The e-signing global spend is set to grow at a CAGR of 9% over the next decade and 44% through to 2025. This will be buoyed by growth in signing for high-value transactions as consumers elevate their needs for a trusted solution, the company said.

Nitro Software intends to be cash flow positive by 2H2023. As for guidance, the company expects to make a US$10-$13 million ($AU14.57-18.94 million) loss for the remaining year, with ARR falling in the range of US$57-60 million ($AU83.05-87.43 million).

Nitro Software share price snapshot

The Nitro Software share price is down 54% year to date. Its losses are far greater than the broader market’s with the S&P/ASX 200 Index (ASX: XJO) down roughly 7% over the same period.

The company’s current market capitalisation is around $276 million.

The post Nitro Software share price plunges 7% amid $25 million loss appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are 2 exciting ASX growth shares tipped as buys by analysts
• 2 exciting small cap ASX shares to buy according to brokers
• Goldman Sachs names 2 small cap ASX shares to buy with 80%+ upside

Motley Fool contributor Matthew Farley 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 Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/1FSA7pz