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The 4DMedical Ltd (ASX: 4DX) share price is seeing some significant swings today, from gains of 2% to losses of more than 2% in morning trading.

4DMedical shares closed yesterday at 65 cents each and are currently at 63 cents a share, down 2.3% for the day, but still up 7% for the month.

This comes following Friday’s release of the respiratory imaging technology company’s full-year results for the 12 months ending 30 June (FY22). The 4DMedical share price closed up 4.7% on the day.

Here are the highlights:

4DMedical share price in the spotlight amid FY22 results

• Total income of $13.4 million, up 132% from FY21
• Revenues from ordinary activities of $1.1 million, increased 386% year on year
• Net loss after tax of $24.6 million, a 15% increase from FY21
• Cash reserve of $51.1 million and no debt as at 30 June 2022

What else happened during the year?

While income and revenues increased, so did the company’s operating expenses, which rose 51% year on year to $37 million. 4DMedical said the increase was largely due to more spending on research and development and in support of commercialisation.

Other milestones during the year included the company signing a nationwide contract with I-MED, Australia’s largest outsourced radiology provider.

The ASX medical tech share also progressed in the United States, where scanning commenced at its first US clinical pilot at Providence St. Joseph Hospital in California.

And in an FY22 highlight, 4DMedical unveiled its XV Scanner, the world’s first dedicated lung scanner, at Prince of Wales Hospital in Sydney on 17 March. The scanner was delivered with the help of the Medical Research Future Fund (MRFF), with a $28.9 million contribution from the Australian government.

What did management say?

Commenting on the results, 4DMedical CEO Andreas Fouras said:

From a financial performance perspective, we have grown Software-as-a-Service (SaaS) revenue as well as hardware sales. While these gains have been from a low base, they clearly demonstrate that the Company is now very much in its commercialisation phase…

The 4DMedical team has been busy adding to our catalogue of pilot and clinical trial results, which are rapidly adding to the body of evidence that scans generated via 4DMedical’s XV LVAS technology are a superior way of examining patients.

What’s next?

4DMedical said it “has a significant cash runway of at least six quarters”. The company has a cash balance of $51.1 million and has yet to receive the $15 million in MRFF funds.

Looking ahead, Fouras added:

Subsequent to the end of the reporting period, the US signed into law a broad expansion of healthcare benefits for millions of veterans suffering from respiratory diseases acquired while serving their country. This will include increased testing to identify these disorders, providing a significant opportunity for 4DMedical.

4DMedical share price snapshot

Despite the strong past month, the 4DMedical share price has struggled this year, down 53% since the opening bell on 4 January. By comparison, the All Ordinaries Index (ASX: XAO) is down 8% year-to-date.

The post Why has the 4D Medical share price popped 7% in a month? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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.

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The Endeavour Group Ltd (ASX: EDV) share price is well into the red this morning after the company posted its earnings card for FY22.

Shares in the company opened at $7.82 before slipping to a low of $7.52 — a 9.1% loss. The Endeavour Group share price is now $7.55 at the time of writing.

Let’s go over the highlights of the report.

Endeavour share price slides on mixed FY22 report

The key metrics are as follows:

• Revenue of $11.6 billion, no change from FY21
• Earnings before interest and taxes (EBIT) up 2.8% year over year (yoy) to $924 million
• Net profit after tax (NPAT) up 11.2% yoy to $495 million
• Fully franked dividend of 7.7 cents per share (payout ratio of 73.1%).

Both retail and hotel operating segments contributed strongly in 2H FY22. Hotels contributed the most EBIT for the year, growing 20.7% to $315 million.

The company notes that it delivered growth in its top and bottom lines amid headwinds that rocked its industry. These included “ongoing impacts from COVID-19, severe weather events, team shortages, and a range of supply chain disruptions.”

Endeavour declared a final fully franked dividend of 7.7 cents per share. The total dividend payout is $138 million. The record date is 1 September and the dividend will be paid on 16 September.

What else happened in FY22?

Endeavour acquired five new hotels and 40 lease renewals in FY22. The drinks side of the business also made significant progress, adding 32 new stores and lease renewals.

Endeavour cited COVID-19 as an accelerant in the digitalisation of its business model, which included ‘order and pay later’, and facial recognition technology at some of its hotels.

Initiatives such as these and others led to record sales and record connections with new customers, the company said.

What did management say?

Endeavour managing director and CEO Steve Donohue said:

Australians are returning to socialising in hospitality settings, and the trend towards discovering new drinks is continuing. While we anticipate that the operating environment will remain challenging, I’m confident our team of exceptional people, our customer-focused strategy, and our disciplined approach to financial management will enable us to continue to deliver for our customers, partners, team members and shareholders.

What’s next?

Endeavour noted that demand for its drinks and hospitality offerings would continue to bounce back from the effect of COVID-19. This is currently reflected in the past seven weeks of trading in FY23. However, some headwinds will persist in putting pressure on the company’s results moving forward.

Its one-year growth rates are expected to be distorted as it cycles through the impacts of COVID-19 in the first half of FY23.

Moving forward, the company stated it will need to contend with “inflation, limited team availability and the potential for supply chain disruption”.

Endeavour share price snapshot

The Endeavour share price is currently up 11% year to date. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 8% over the same period.

Endeavour’s market capitalisation is roughly $14.81 billion.

The post Endeavour share price drops 9% despite $495 million profit appeared first on The Motley Fool Australia.

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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 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.

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The Westpac Banking Corp (ASX: WBC) share price is in focus. Between 17 June 2022 and 12 August 2022 it went up 18%. After dipping lower over the past week, is the big four ASX bank share an opportunity worth buying?

On the ASX there are a number of banks including Commonwealth Bank of Australia (ASX: CBA), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and National Australia Bank Ltd (ASX: NAB).

While there are plenty of similarities between the banks, some investors have a preference for which banks are buys and which are not.

Expert view

A few weeks ago, Neil Margolis was speaking to Livewire Markets and was asked whether the Westpac share price was a buy, hold or a sell.

Margolis said that Westpac shares are a buy, particularly when compared to CBA.

He acknowledged the problems that the bank has had but also said that the bank has a large amount of surplus capital. Margolis said to Livewire:

Just putting it next to CBA is very stark. It’s got so many levels of surplus capital, say $8 billion to $10 billion, similar for franking. But its market value is $90 billion, and CBA is $180 billion. So it’s quite extraordinary. One of the reasons it’s a lot cheaper is because they’ve lost control of their costs. So, they do need to get their costs under control. They’ve had much more management turnover. But putting that all aside, there’s a big opportunity to take cost out, and the dividends look pretty safe to us. At a sector level, I had a look today, the four major banks spent $36 billion a year on costs, which is roughly the same as Afterpay’s valuation. And I’m not sure which number actually astounds me more.

Westpac currently has a market capitalisation of $76 billion and CBA has a market capitalisation of $168 billion according to the ASX.

Westpac’s third quarter update

Investors are able to get insights into a business’s performance from quarterly updates and this can impact the share price.

While it didn’t include any actual profit numbers, Westpac did tell investors about some of its financial numbers in the three months to 30 June 2022.

Westpac said that its common equity tier 1 (CET1) ratio was 10.75% at June 2022, down from 11.33% at March 2022. However, that reduction was down to a dividend payment and higher risk-weighted assets (RWA). RWA rose $18 billion, or 3.9% in the third quarter of FY22.

However, the ‘pro forma’ CET1 capital ratio was 11% which reflects planned divestments.

In terms of the credit quality, Westpac said that the provision cover is little changed, while credit quality improved – stressed assets to total committed exposure (TCE) reduced 4 basis points to 1.06%.

Mortgage delinquencies that were at least 90 days overdue improved. In Australia, it improved 5 basis points to 0.83% and in New Zealand, it improved 2 basis points to 0.28%.

What is the Westpac share price valuation?

Every analyst may have a different estimate for what the bank is going to report for its FY22 result.

According to numbers on CMC Markets, Westpac shares are valued at 15 times FY22’s estimated earnings and under 12 times FY23’s estimated earnings.

The big four ASX bank share is expected to pay an annual dividend of $1.23 per share in FY22 and a $1.33 annual dividend per share in FY23. That translates into grossed-up dividend yields of 8% in FY22 and 8.7% in FY23.

The post Is the Westpac share price a buy for the bank’s ‘surplus capital’? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison 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 Westpac Banking Corporation. 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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The Scentre Group (ASX: SCG) share price is scampering upwards today as investors absorb the company’s latest half-year results.

In early trade, shares in the Westfield shopping centre operator are swapping hands for $2.875 apiece — a tidy gain of 3.42%. For context, the S&P/ASX 200 Index (ASX: XJO) is spluttering lower, dropping 0.57% this morning.

Let’s check the details of the company’s report.

Scentre share price embraces earnings rebound

• Revenue up 8.8% from the prior corresponding period to $1,176.3 million
• Customer visits year-to-date up 5.1% to 277 million
• Portfolio occupancy up 30 basis points to 98.8%
• Operating profit up 17.5% to $540.5 million
• Net operating income up 6% to $883.6 million
• Distribution of 7.5 cents per share, up 7.1%

What else happened during the half?

Pleasingly, the half involved several notable operational achievements for Scentre Group.

Firstly, the property manager demonstrated some level of inflation resistance. Inflation is now above 6% compared to a year ago. However, Scentre managed to increase its average rent across the portfolio by $5 per square metre, now sitting at $827 per square metre.

Furthermore, average speciality rents increased 5.6% during the reporting period. Management highlighted that its standard lease structure for specialty leases has built-in inflation protection.

Another positive for the Scentre share price was the improvement in gross rent cash collections. This is the lifeblood of Scentre. In the first half of 2022, collections increased 18% to $1,250 million.

What did management say?

In light of the outstanding performance, Scentre Group CEO-elect Elliott Rusanow stated:

Our approach to capital management during the period has seen the Group execute new and extended bank facilities of $2.6 billion, including syndicated bank facilities of $1.4 billion. As a result, the Group has available liquidity of $4.8 billion, sufficient to cover all debt maturities until the fourth quarter of 2025.

Adding:

Our business is in a strong position to deliver long-term growth by being essential to people, their communities and the businesses that interact with them.

What’s next?

Looking forward, management kept its forecasts short and sweet. For the full year, the Scentre Group team is expecting a 14.2% increase in funds from operations to 19 cents per share security.

Likewise, income investors should be pleased to know management is expecting growth in its full-year distribution. Scentre’s distribution is expected to grow by 5.3% to 15 cents per security for FY22.

Scentre Group share price snapshot

Today’s gain is a welcomed sight given the performance of the Scentre share price this year. On a year-to-date basis, shares in the group have tumbled more than 8%. This represents an underperformance of even the broad Aussie benchmark index.

The group now offers a dividend yield of 5.3%. This compares to an industry average yield of 4.4%.

The post Scentre share price glows green as operating profits soar 18% appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler 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.

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The Alumina Limited (ASX: AWC) share price is in the red today after the company announced its 2022 half-year results.

The alumina and aluminium producer’s share price jumped to $1.53 soon after market open but is currently down 0.33% at $1.50. For comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.34% today.

Alumina has a 40% stake in Alcoa World Alumina and Chemicals (AWAC). AWAC has operations in Australia, Brazil, Spain, Saudi Arabia and Guinea, along with a 55% stake in the Portland aluminum smelter in Victoria.

Let’s take a look at what Alumina reported to the market today.

Alumina share price edges lower amid soaring profit

Highlights of Alumina’s half-year results include:

• Net profit after tax (NPAT) of 167.9 million, a 128% lift on the $73.6 million reported in H121
• Net receipts from AWAC lifted 18% to US$162 million
• Free cash flow available for dividends lifted 25% to US$122.6 million
• Net cash of 19.3 million at 30 June compared to a net debt of $5.7 million in 2021
• Interim dividend lifted 24% to US 4.2 US cents per share

What else did the company report?

Underpinning the result was a 57% increase in the alumina refining margin. The margin for alumina refineries lifted from US$60 per tonne in the prior corresponding period (pcp) to US$94 per tonne.

This was driven by higher alumina prices amid “global supply disruptions”. The average realised price of alumina lifted 37% on the pcp to US$398 per tonne.

However, cash costs of alumina production also jumped 32% to $304 million per tonne.

Total AWAC refinery production dropped in the first half to 6.1 million tonnes.

AWAC’s earnings before interest, tax, depreciation, and amortisation (EBITDA) lifted 80% on the pcp to US$836.1 million, while net profit after tax lifted 118% to US$438.9 million. AWAC reported a net cash inflow of $378.5 million, a 70% boost on the first half of 2021.

Management commentary

Speaking about the results, Alumina CEO Mike Ferraro said:

The increased margins from AWAC’s alumina refineries and the Portland smelter flowed through to net distributions from AWAC, which at $162 million were 18 per cent higher than the corresponding period last year.

As a result, Alumina has been able to increase the interim dividend to shareholders for 2022 by 24 per cent.

Alumina’s dividend yield has averaged 7.4 per cent over the last 5 years, which consistently places Alumina as one of the top performers amongst its industry peers.

What’s ahead

Alumina said global aluminum demand is predicted to grow by 1.1% in 2022.

The company is optimistic about the medium-term outlook for aluminum. Ferraro noted that aluminum will become “even more critical” as the world transitions to a low carbon economy.

He said this demand will flow through to Alumina, adding: “As a significant participant in the aluminium supply chain, AWAC and Alumina are well placed to benefit from this growth.”

Meanwhile, uncertainties remain for global alumina production in the second half of 2022. Production outside China fell 4% in the first half of 2022 amid supply disruptions in Europe and Australia. High energy costs in the second half of 2022 could continue to impact alumina production. Alumina production outside China could drop by 3% in 2022.

AWAC is forecast to produce 12.1 to 12.2 million tonnes of alumina overall in 2022, along with 160,000 tonnes of aluminum.

Alumina share price snapshot

The Alumina share price has fallen 20% in the year to date, while it has lost 10% in the past year.

However, in the past month, Alumina shares have climbed 3%.

For perspective, the benchmark ASX 200 index has lost 6% in the past year.

The post Alumina share price slides despite profit surging 128% appeared first on The Motley Fool Australia.

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• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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.

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The ARB Corporation Limited (ASX: ARB) share price has dropped in early trade Tuesday after the company declined to provide outlook guidance.

The automotive accessories company released its full year FY22 results this morning.

At the time of writing, the stock was down 2.64% to $30.97 a share.

What did the company report?

• Revenue up 11.4% to $697.3 million
• Profit after tax up 8.1% to $122 million
• Earnings per share (EPS) up 6.7% to 149.4 cents
• Dividend per share up 4.4% to 71 cents total for the year 
• Final dividend is 32 cents fully franked 

What else happened in FY22?

The biggest event for ARB was Andrew Brown stepping down as the company’s chief executive and transitioning into a managing director role.

A few days after the financial year ended, Lachlan McCann was promoted internally to fill the chief executive position.

What did management say?

Brown, as chair, said:

ARB’s cash reserves of $52.7 million and no debt as at 30 June 2022 ensure the company is well placed to continue investing in people, new products, property, distribution networks, machinery and businesses to facilitate ongoing growth.

What’s next?

Citing “a very challenging and uncertain global environment”, no guidance was provided for the current financial year. 

However, Brown said:

The board remains positive and expects that the company should benefit by the end of calendar 2022 from recent new vehicle models, a strong customer order book sitting well above historical levels, a number of all-new products due for imminent release, healthy demand for the company’s products around the world and the prospect of increasing supply of new vehicles to the market.

The board remains focussed on the long-term growth of the Company as it develops and pursues a number of exciting opportunities, some of which have already been announced to the market. These include further growth in export markets and overseas opportunities, new products, improved distribution and increased manufacturing capacity.

ARB share price snapshot

The ARB share price has lost more than 42% so far this year. However, it has rallied 23.3% since 17 June. 

The dividend yield stands at 2.23% after the final dividend was announced this morning.

The post ARB share price plunges amid ‘uncertain’ outlook appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo 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 ARB Corporation 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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The Kogan.com Ltd (ASX: KGN) share price is under pressure as the retailer’s focus shifts to cost-cutting after it unveiled a drop in full-year profit and revenue.

Shares in the online retailer opened at $3.52 and quickly fell to a low of $3.445 in early trading — a 9.35% drop. Meantime, the S&P/ASX All Ordinaries Index (ASX: XAO) has shed 0.5%.

This is the first loss reported by Kogan since it was listed on the ASX, according to The Australian.

Kogan.com is struggling to overcome the volatile trading environment as we emerge from COVID-19. But there are signs of hope.

Summary of Kogan’s FY22 results

• Revenue declined 8% to $718.5 million, reflecting a compound annual growth rate (CAGR) of 20.1% since FY20
• Gross profit declined 9.3% to $184.4 million, reflecting a CAGR of 20.7% since FY20
• Gross sales grew 0.1% to $1.18 billion (includes gross transaction values for Kogan Marketplace, Kogan mobile, and other new verticals)
• A return to adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) profitability in 4Q FY22 with an adjusted net loss of $2.9 million for the full year
• Group active customers of 3,972,000 at 30 June 2022, reflecting a CAGR of 20.9% over two years.

Other highlights

The group’s Kogan Marketplace business saw gross sales increase 20.3% year over year (yoy) in FY22. This is partly driven by the 49.1% increase in the number of sellers on the platform, with a strong pipeline of local and overseas sellers ready to be onboarded.

Meanwhile, the Kogan First membership business grew by 372,000 subscribers to the end of FY22. This helped push up revenue by 73.4% yoy. The company aims to have one million subscribers.

However, its exclusive and third-party brands sales fell 17.6% and 35%, respectively. This division struggled with excess inventory and associated holding costs, although the situation has improved.

Given the uncertain trading environment, the company decided not to pay a final dividend. The last time Kogan paid a dividend was in May last year.

What Kogan.com said about its FY22 results

Kogan’s founder and CEO said:

As the true volatility of the situation settled in — caused by stay at home orders and lockdown ambiguity — eCommerce did not continue to grow as anticipated. This led to us holding excess inventory, and an associated increase in variable costs and marketing costs to sell through the inventory.

As we’ve discussed at length through regular updates this past year, profitability in FY22 was impacted. When I started Kogan.com 16 years ago, I made a bet that online shopping would define the future of retail. My certainty of that is even stronger today than it’s ever been.

Outlook

While Kogan.com didn’t give guidance, it painted a positive outlook for FY23. It noted the ongoing expansion of Kogan Marketplace, enhancements to Kogan Verticals, further growth of its recently acquired Mighty Ape business, and growing Kogan First membership as reasons for shareholders to feel upbeat.

The company said it will focus on cost-cutting to help drive improved earnings this financial year. Its adjusted EBITDA in the last quarter of FY22 turned positive.

To that end, its July results will give shareholders further hope of a turnaround. Kogan.com noted that adjusted EBITDA for the month was $1.5 million and its operating costs have been cut 19.3% yoy.

Kogan share price snapshot

The Kogan share price has fallen by more than 70% over the past year while the All Ordinaries has lost 7%.

Kogan is also lagging behind other ASX retailers like JB Hi-Fi Limited (ASX: JBH) and Super Retail Group Ltd (ASX: SUL). These ASX retail shares lost 9% and 16%, respectively, over the past 12 months.

The post Kogan share price tumbles 9% on first ASX loss appeared first on The Motley Fool Australia.

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More reading

• Earnings preview: Here’s which ASX shares are reporting today
• Up 40% in a month, is it true ‘times are changing’ for the Kogan share price?
• Could these devastated ASX shares make a roaring comeback?
• Are the stores themselves on sale?
• Kogan share price drops amid warehousing legal battle

Motley Fool contributor Brendon Lau 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 Kogan.com ltd and Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Kogan.com ltd and Super Retail 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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The Boral Limited (ASX: BLD) share price is in the red after the company released its earnings for financial year 2022.

The S&P/ASX 200 Index (ASX: XJO) building products and construction materials company’s stock opened at $2.81 – marking a 2.7% fall.

It has since improved slightly to reach $2.865 – 0.87% lower than its previous close.

Boral share price slips as profit tumbles

Here are the key takeaways from the company’s full-year earnings from continuing operations:

• Revenue came in at around $2.95 billion – a 1% improvement
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) slumped 19% to $330 million
• Earnings before interest and tax (EBIT) fell 38% to $112 million, or 32% to $107 million excluding property
• Underlying after tax profit came to $35 million – down 26%
• Posted a statutory net loss of $17 million – down from a $19 million profit
• Adjusted earnings per share (EPS) came to 13.6 cents

The company’s earnings were impacted by external conditions, including increases in energy prices and cartage costs – resulting in a $58 million dint. Its sales were hit by the impacts of exceptional rainfall and construction shutdowns.

All such negative happenings ultimately dinted EBIT by $136 million, offsetting the benefits of higher revenue and transformation initiatives.

Looking at the company’s total earnings, it recorded a statutory net profit of $961 million – marking a 50.1% improvement. Boral recognised a pre-tax gain of around $1.03 billion for significant items, mostly relating to profit from the sale of non-core North American businesses.

Meanwhile, its transformation program brought a $42 million benefit – below its targeted $60 million to $75 million. It was impacted by delays from COVID-related supply chain impacts and higher cost inflation.

What else happened in FY22?

Of course, the major news from Boral in financial year 2022 was of Seven Group Holdings Ltd (ASX: SVW)’s battle to take over the company.

Seven ultimately walked away with a near-70% stake in Boral, paying a price of $7.40 per share for the holding.

Boral also divested its non-core Boral North America and Australian Building Products businesses and underwent a $3 billion capital return. The capital return encompassed a $2.65 per share capital reduction and a 7-cent special dividend.

What did management say?

Boral CEO and managing director Zlatko Todorcevski commented on the company’s earnings, saying:

Boral’s revenue benefited from stronger infrastructure and residential activity. However, industry-wide construction lockdowns and exceptional rainfall … curtailed volumes and significantly impacted margins. In addition to reducing operating efficiency, these events resulted in additional operating and repair costs.

With supply chain constraints and labour shortages remaining a key issue across the industry, major projects continued to experience delays. However, we expect momentum to improve in FY2023, and to benefit from several key projects we’ve secured including the Western Sydney Airport terminal, Sydney Metro West – Central Tunnel Package, Sydney Metro West – Western Tunnel Package, and Tonkin Gap in Western Australia.

What’s next?

The company hasn’t provided any new earnings guidance for financial year 2023. Though, it did outline its expectations for the period.

Boral expects its revenue to increase this fiscal year, driven by price growth and increased volumes. It believes infrastructure demand will increase, offsetting a predicted softening of detached housing demand in the second half. It also believes benefits from price increases and performance improvement initiatives will more than offset the impact of total cost inflation, while energy costs remain elevated.

The company’s financial year 2023 capital expenditure is expected to be around $235 million.

Boral share price snapshot

The Boral share price appears to have had a disastrous year on paper – falling 53% over the course of 2022 so far and 58% over the last 12 months.

However, that doesn’t account for the capital reduction and special dividend undergone in February.

The post Boral share price falls as underlying FY22 profit slumps 26% 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 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.

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The Breville Group Ltd (ASX: BRG) share price is moving higher in early trade, up 0.86%, while the S&P/ASX 200 Index (ASX: XJO) is down 0.5%.

Breville shares closed yesterday at $21.47 and opened lower at $21.11, but are currently trading at $21.66 apiece.

This comes after the release of the electrical appliance manufacturer’s full-year results for the 12 months ending 30 June (FY22).

Let’s take a look at what the company announced.

Breville share price climbs amid record FY22 revenue

• Revenue of $1.42 billion, up 19.4% from FY21
• Earnings before interest, taxes, depreciation and amortisation (EBITDA) of $186.8 million, up 14.4% from the prior year
• Net profit after tax (NPAT) of $105.7 million, an increase of 16.2% year on year
• Full-year dividend of 30.0 cents per share (cps), fully franked, up 13.2% from FY21

What else happened during the year?

With sales growth of 19.4% over the year, Breville’s $1.4 billion of revenue sets a new record for the company.

The company’s operations were not immune to the impacts of Russia’s invasion of Ukraine, which contributed to a slowing revenue growth rate of 13.2% in the second half of the year.

Gross margins came in at 34.3%, just down from the 34.8% posted in FY21. Breville was able to maintain its margins by adjusting prices as it faced inflation from a strong US dollar alongside increased freight and product costs.

EBIT came in at $156.4, meeting the company’s guidance, and up 14.6% from the prior year.

A final dividend of 15.0 cents per share was declared (fully franked) with a record date of 15 September.

The company’s net cash position went from $129.9 million in FY21 to a debt of $4.1 million as at 30 June this year. The company stated the lower net cash flow “reflects a year of free cash outflow as working capital has been normalised and inventory pulled forward”.

What did management say?

Commenting on the results, Breville Group CEO Jim Clayton said:

A solid year of performance for the Group, delivering guidance once again, against a dynamic backdrop of supply chain challenges, inflationary pressures, and headwinds resulting from the Ukraine invasion.

Having doubled the size of the business in the last 4 years, the strength of our geographic portfolio came through in FY22 as the Americas accelerated in the 2H to pick up the slack in Europe. We managed margins well, demonstrating the pricing power of our brand and our premium products.

The investment in growth drivers continued, while demonstrating the ability to align expenses with revenue, within the envelope of guidance.

What’s next?

The Breville share price could be under some pressure for the company’s lack of specific guidance. Instead, the company noted that FY23 looks to be one of competing macro headwinds and tailwinds for its business.

While Breville couldn’t yet forecast how these forces will play out over the full year, Clayton said, “We enter FY23 in a solid position: we’ve successfully pulled forward our inventory build for 1HFY23, and our NPD pipeline is beginning to release.”

Breville share price snapshot

The Breville share price has struggled in 2022, down 35% year-to-date. That compares to an 8% loss posted by the ASX 200.

The post Breville share price lifts on record FY22 revenue and dividend boost appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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.

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We’re well and truly in the thick of ASX reporting season. The biggest names in the All Ordinaries Index (ASX: XAO) are unveiling their financial results. And many are declaring lucrative dividends.

With that comes an important date: the ex-dividend date.

Taken from Latin, ex-dividend means ‘without dividend’. So, you guessed it, it’s the date that a company’s shares no longer trade with the upcoming dividend payment attached to it.

Beyond determining who’s entitled to dividends, the ex-dividend date has another important implication. 

When a company’s ex-dividend date rolls around, its shares typically drop in value.

This is because the money paid out in dividends no longer belongs to the company. With its cash reserves reduced, the value of the company is diminished.

So, with that in mind, here are three ASX All Ords shares trading ex-dividend today.

While the ASX All Ords index is down 0.55%, these three shares are dropping more than the market.

Australian Clinical Labs Ltd (ASX: ACL)

This ASX COVID beneficiary is trading without its bumper FY22 final dividend today.

Unsurprisingly, this is putting downwards pressure on the Australian Clinical Labs share price. At the time of writing, shares have tumbled 9.07% to $4.31, a drop of 43 cents.

The ASX healthcare share recently released its FY22 results and declared a fully franked final dividend of 41 cents. 

This takes Australian Clinical Labs’ total FY22 dividend payments to 53 cents. Meaning, Australian Clinical Labs shares were sporting a hefty dividend yield of 11.2% as of yesterday’s close.

It’s worth noting that this is a trailing dividend yield, with Australian Clinical Labs unlikely to replicate these dividends in the current financial year.

After all, the company was a big COVID beneficiary, playing a vital role in facilitating testing across the country. The company experienced 49% revenue growth in FY22, with 42% of total revenue relating to COVID activities. 

In any case, investors who were on the company’s share registry as of yesterday’s close should see this juicy final dividend hit their accounts on 15 September.

Domain Holdings Australia Ltd (ASX: DHG)

Domain is another ASX All Ords share trading ex-dividend today. At the time of writing, the Domain share price has dropped 1.25%.

The property marketplace recently declared a final fully franked dividend of 4 cents per share, taking total FY22 payments to 6 cents, up 50% on the prior year.

As of yesterday’s close, this put Domain shares on a trailing dividend yield of 1.7%. Throwing in franking credits, this bumps up to 2.4%.

If you held shares in Domain when the market closed yesterday, you should see this final dividend land in your account on 13 September.

Shares in Domain’s rival REA Group Limited (ASX: REA) are set to trade ex-dividend on Thursday. The leading online property business recently declared a record final dividend of 89 cents, spinning up a trailing dividend yield of 1.3%.

Qualitas Ltd (ASX: QAL)

Last but not least, shares in this alternative real estate investment manager are also trading ex-dividend today. At the time of writing, the Qualitas share price has edged 1.35% lower to $2.20.

Qualitas is an alternative fund manager focused on private credit and equity across the commercial real estate sector.

Qualitas announced its FY22 results last week, declaring its first dividend since joining the ASX at the end of 2021.

Its fully franked final dividend of 4 cents put Qualitas shares on a trailing dividend yield of 1.8% when the market closed yesterday. The dividend has been pencilled in to be paid on 8 September.

Annualising this payment results in a 3% yield based on the company’s IPO price of $2.50, which is in line with its prospectus forecasts.

The post 3 ASX All Ordinaries shares trading ex-dividend today appeared first on The Motley Fool Australia.

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Motley Fool contributor Cathryn Goh 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 REA 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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