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It’s been a big day for the Transurban Group (ASX: TCL) share price this Thursday. Mainly due to the fact that the ASX 200 toll road operator provided its full-year earnings report for FY2022 this morning.

ASX investors have delivered their verdict, and it’s not a pretty one. At the time of writing, Transurban shares have lost a painful 4.13% of their value and are now going for $14.06 each.

That’s after Transurban closed at $14.66 yesterday and opened at $14.29 this morning.

As my Fool colleague Brooke went through earlier, Transurban reported revenues of $3.4 billion, an 18% rise on its FY2021 numbers. Earnings and after-tax profits also rose by 3.5% and 107.8% respectively.

But perhaps it was the 10.9% increase in costs to $82 million, or else the 0.5% fall in traffic volumes, that have spooked investors today. That’s a far more likely explanation than Transurban’s next dividend, anyway.

What you need to know about Transurban’s dividend today

Many investors buy Transurban shares solely for reliable dividend income. And Transurban certainly reiterated some good news on that front this morning. So let’s look at everything you need to know about Transurban’s latest dividend.

The company first announced its final dividend for FY2022 of 26 cents per share back in June. This was reaffirmed yesterday. The ex-dividend date was 30 June, but investors will only receive the payment on 23 August next week. This dividend will come partially franked at 8.3468%.

A dividend of 26 cents per share is a healthy 20.9% improvement on the final dividend of 21.5 cents per share in FY2021. It takes Transurban’s full-year payout to 41 cents per share, which is again a robust 12% increase on the total of 36.5 cents that investors received for FY2021.

But saying that, we have still yet to approach the pre-COVID highs of FY2019 when investors enjoyed a total of 59 cents per share in dividend income.

So what does this mean for investors? Well, a total of 41 cents per share over the past 12 months means Transurban’s trailing dividend yield for FY2022 now stands at 2.92% on the current share price of $14.06.

The post Everything you need to know about the latest Transurban dividend appeared first on The Motley Fool Australia.

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More reading

• Transurban share price slumps despite revenue lifting to $3.4b
• Here are 3 ASX blue-chip shares reporting this week
• This $45 billion ASX 200 share just hit a new multi-year high. Can it keep going?
• 3 ASX 200 shares smashing new 52-week highs on Thursday
• Broker names 3 ASX 200 shares to buy and hold

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.

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The Xero Limited (ASX: XRO) share price is under pressure today after the cloud accounting software company held its 2022 AGM.

At the time of writing, the Xero share price has tumbled around 5% in early afternoon trade. 

Today’s losses extend a red year for Xero shares, which are down around 37% in the year to date.

Despite years of market-beating returns, the Xero share price has underperformed even the S&P/ASX All Technology Index (ASX: XTX) this year. 

The current market hasn’t been kind to ASX tech shares, with the All Tech index shedding roughly 25% since the beginning of the year.

What did Xero announce?

Xero’s AGM kicked off by recapping the company’s FY22 results for the year ended 31 March 2022. Here’s a summary.

• Total subscribers increased by 19% to 3.27 million
• Operating revenue grew 29% to NZ$1.1 billion
• Average revenue per user (ARPU) lifted by 7% to NZ$31.36
• EBITDA improved 11% to NZ$212.7 million
• Net loss after tax came in at NZ$9.1 million

At the time, the market reacted negatively to these results, sending the Xero share price tumbling to a 52-week low. 

In a rising interest rate environment, investors were likely spooked by the reported drop in free cash flow and further expectations of heavy spending.

Xero’s FY23 update

In today’s address, CEO Steve Vamos spared a moment to provide a brief update on the ASX tech share’s performance so far in FY23.

Encouragingly, revenue growth is in line with expectations in each market and overall. Xero’s customer base also continues to grow.

However, net subscriber additions in the UK have remained more subdued than the company would like.

Xero’s UK performance continues to be impacted by slower than expected uptake of the final stage of Making Tax Digital, a government initiative to reform and modernise the UK tax system.

The company has also implemented changes to its partner sales approach, organisation, and territory assignments in the UK. This is having a short-term impact on partner channel productivity.

Management commentary

Despite the blip, CEO Steve Vamos remains upbeat, stating:

We are well positioned in the UK market and it is an important growth opportunity for us and despite a less than buoyant macro environment, we continue to drive and aspire to strong revenue and subscriber growth.

The momentum generated from Xerocon London along with the positive feedback from our partners following the launch of Xero Go gives us great encouragement.

Vamos also reaffirmed the brief outlook statement provided in Xero’s recent results. In FY23, the company expects total operating expenses as a percentage of operating revenue to be towards the lower end of 80-85%. For context, this figure stood at 84% in FY22.

Xero share price snapshot

The Xero share price has lagged the S&P/ASX 200 Index (ASX: XJO) recently, suffering a 36% fall over the last 12 months.

But there’s no doubt Xero shares have been a standout long-term performer, notching up a 270% gain over the last five years.

As a high-quality S&P/ASX 200 Index (ASX: XJO) share with stiff industry tailwinds at its back, impressive unit economics, and plenty of optionality, the recent pullback in the Xero share price could present a buying opportunity.

The post Xero share price dips 5% on weaker UK performance appeared first on The Motley Fool Australia.

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More reading

• Better ASX tech buy: Xero or Altium?
• Why are ASX 200 tech shares flying higher on Thursday?
• What’s going so wrong for ASX 200 tech shares on Wednesday?
• Here are the top 10 ASX 200 shares today
• ‘Capital light and scalable’: Expert picks 2 ASX shares to buy now while CHEAP

Motley Fool contributor Cathryn Goh has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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It hasn’t been a very pleasant day of trading thus far for ASX shares and the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 has lost 0.29% to around 7,105 points. But it’s a different story when it comes to the Treasury Wine Estates Ltd (ASX: TWE) share price.

Treasury Wine shares are well into green territory as it stands. The winemaker is currently going for $12.87, up 1.9% for the day so far.

This comes after an initial dip upon market open this morning, which saw the company drop as low as $12.02 a share.

No doubt this indecisiveness from investors has something to do with the full-year earnings results for FY 2022 that the company released this morning.

As my Fool colleague James went through at the time, Treasury’s report was a little ahead of market expectations.

The company reported a 3.6% drop in net sales revenue to $2.48 billion, but a 2.6% rise in earnings before interest, tax, SGARA and material items (EBITS) to $523.7 million. Net profit after tax before material items and SGARA also rose, up 4.2% to $322.6 million.

Is the new dividend lifting the Treasury Wine share price today?

But let’s talk about Treasury’s new dividend, which has certainly given income investors something to be pleased about.

Treasury announced a final and fully franked dividend of 16 cents per share for FY 2022. Treasury shares will trade ex-dividend for this payment on 31 August. Investors will receive the cash (or extra shares if the optional dividend reinvestment plan is preferred) on 30 September.

This 16 cents per share payment is a pleasing increase over FY 2021’s final dividend of 13 cents per share. It also beats the company’s last interim dividend from April, which was worth 15 cents per share.

However, it is not the highest dividend ever paid out by Treasury. For that, one would have to look back to the pre-COVID dividends of 20 cents per share that investors were receiving back in 2019 and early 2020.

So we now know that Treasury Wine shares will be paying out a total of 31 cents per share for FY 2022.

On the current Treasury Wine Estates share price, that works out to be worth a yield of 2.43%. The company’s trailing yield (which includes last year’s final dividend instead of this year’s) is currently 2.2%. Perhaps this is helping investors get excited about Treasury Wine shares today.

The post Treasury Wine share price defies market slump. Could it be the dividend boost? appeared first on The Motley Fool Australia.

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More reading

• Iress share price rallies as profit lifts 29%
• Treasury Wine share price on watch after FY22 earnings beat
• The ASX 200 share Firetrail just bought after brutal sell-off
• 5 things to watch on the ASX 200 on Thursday
• The A2 Milk share price has climbed 10% so far this month. What’s going on?

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 recommended Treasury Wine Estates 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 Iress Ltd (ASX: IRE) share price is defying the broader market today after the company delivered its first-half profit results.

The trading and wealth platform provider reported a 29% uplift in underlying net profit after tax (NPAT) to $31.8 million. This was on a 6% increase in revenue to $306.4 million for the six months ended 30 June 2022.

The statutory NPAT declined 25% to $30.6 million, but investors don’t appear to be perturbed. The underlying figure excludes one-off earn-out payments for the QuantHouse and BC Gateway acquisitions.

The Iress share price jumped 4.6% to an intraday high of $11.89 in early trade. It has since slipped back to be up 2.7% at $11.67. In contrast, the S&P/ASX 200 Index (ASX: XJO) is down 0.32%.

Summary of Iress 1H FY22 results

• Constant Currency Segment Profit up 6% to $306.4 million
• Underlying NPAT up 29% to $31.8 million
• Return on invested capital (ROIC) increased 140 basis points (bps) to 9.6% on an underlying basis but fell 110 bps to 9.4% on a statutory basis
• Strong performance in APAC trading and market data and financial advice
• Xplan user numbers in financial advice are stable and the outlook for technology-enabled solutions is strong
• United Kingdom private wealth and trading delivered strong growth, with a plan to rejuvenate growth in retail wealth, and mortgages are performing well.

What the CEO said about the results

Iress CEO Andrew Walsh said:

Coupled with the benefits of the continuing share buy-back program and the purchase of shares for employee remuneration, underlying EPS rose by 32%.

The lifetime value of our client relationships sits at $25.7bn, many multiples of our market capitalisation, highlighting the strength of our client base and continued revenue growth.

It is pleasing to see our core business in Australia deliver another strong performance, with financial advice and trading & market data revenue growing by 8% on pcp. Recurring revenue grew by 9% on pcp for trading & market data and 8% for financial advice.

FY22 outlook and guidance

The company reaffirmed its full-year guidance range for segment profit to come in between $177 million and $183 million. This represents an increase of 7% to 10% over the previous year.

However, the results are now expected to be at the lower end of its guidance. Management is blaming this on the investment in fund registry, as part of investment infrastructure, and delayed growth in the UK.

Iress share price snapshot

Despite today’s rally, the Iress share price has fallen 23% over the past year. That’s worse than the 5%-plus fall by the ASX 200.

Some of its peers have also performed better. The Computershare Limited (ASX: CPU) share price has surged 50% and the Netwealth Group Ltd (ASX: NWL) share price has shed 7% over the same period.

The post Iress share price rallies as profit lifts 29% appeared first on The Motley Fool Australia.

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More reading

• The ASX 200 share Firetrail just bought after brutal sell-off
• 5 things to watch on the ASX 200 on Thursday
• The A2 Milk share price has climbed 10% so far this month. What’s going on?
• Here’s how much the Vanguard Australian Shares Index ETF (VAS) has paid in dividends over the past 5 years
• Why did the Novonix share price nosedive 6% today?

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 Netwealth. The Motley Fool Australia has positions in and has recommended Netwealth. 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 Insurance Australia Group Ltd (ASX: IAG) share price is heading south on Thursday afternoon.

At the time of writing, the insurance giant’s shares are down 2.15% to $4.55.

Let’s take a look at what’s going on with IAG.

Why are IAG shares in reverse today? 

Following the release of the company’s full-year results last week, investors are eyeing IAG shares as they go ex-dividend today.

The ex-dividend date is particularly important as it determines which shareholders will receive the company’s latest dividend.

If you held IAG shares at yesterday’s market close, you will be eligible for the final dividend.

However, if you didn’t own them and bought them today, the dividend will go to the seller.

Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.

What does this mean for IAG shareholders?

For those eligible for the IAG dividend, you’ll receive a payment of 5 cents per share on 22 September. The dividend is partially franked.

Notwithstanding COVID-19, this is the smallest dividend that will be paid out to shareholders for more than a decade. In case you were wondering, the previous final dividend stood at 13 cents per share.

This brings the full-year dividend to 11 cents apiece, which equates to a payout of 78.1% on reported net profit after tax (NPAT). IAG’s dividend policy in future years is to distribute between 60% and 80% of NPAT, excluding any after-tax earnings impact.

Are IAG shares a buy now?

Following the company’s financial scorecard, one broker weighed in on the IAG share price.

According to ANZ Share Investing, analysts at Morgans downgraded its rating to ‘hold’ from ‘add’ for IAG. Furthermore, it also cut the price target by 2.8% to $4.95 per share.

That suggests an upside of almost 9% on the current share price.

IAG share price snapshot

Looking at the past 12 months, the IAG share price has fallen 14% on the back of difficult trading conditions.

In contrast, the S&P/ASX 200 Financials (ASX: XFJ) sector has dipped by around 4% over the same timeframe.

IAG shares reached a decade low of $4.02 on 17 June as volatility hit global markets. Since then, it has climbed around 13%.

IAG commands a market capitalisation of roughly $11.29 billion and has a dividend yield of 4.21%.

The post Here’s why the IAG share price is slumping today appeared first on The Motley Fool Australia.

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More reading

• Looking to buy IAG shares but worried about where the growth will come from? Read this
• Leading brokers name 3 ASX shares to buy today
• Why 5E Advanced Materials, IAG, Magnis, and Woodside shares are pushing higher
• Everything you need to know about the latest IAG dividend
• IAG share price lifts despite mixed FY22 earnings results

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 positions in and has recommended Insurance Australia 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 Amcor CDI (ASX: AMC) share price is sliding despite the release of the company’s full-year earnings.

After opening 1.3% lower at $18.52, stock in the S&P/ASX 200 Index (ASX: XJO) packaging company has continued to fall. The Amcor share price is currently $18.41, 1.92% lower than its previous close.

Amcor share price slumps on full year earnings

• Reported US$14.5 billion of sales – a 13% increase on that of the prior corresponding period (pcp)
• Income came to US$805 million – a 14% drop
• Earnings per share (EPS) reached 52.9 US cents – down 12% – while adjusted EPS came in 11% higher at 80.5 US cents
• Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) of US$2.1 billion – a 7% improvement
• Adjusted free cash flow of around US$1 billion
• Revealed 12 US cent quarterly dividend, bringing its full-year dividends to 48 US cents per share

The company also spent US$600 million to repurchase shares last financial year, reducing its issued shares by around 3%.

What else happened in FY22?

The 12 months ended 30 June was a quiet period for Amcor. The company didn’t release any price-sensitive news beyond its quarterly reports in that time. However, the Amcor share price did lift 19% over the period, with most of its gains recorded in the second half.

The company responded to Russia’s invasion of Ukraine by shutting its factory in Ukraine and scaling down its operations at three Russian factories. Today, it announced it will sell said factories. They were previously responsible for between 2% and 4% of its total sales.

What did management say?

Amcor CEO Ron Delia commented on the company’s earnings, saying:

Fiscal 2022 was another outstanding year for Amcor. Our financial performance accelerated throughout the year as we delivered our strongest quarter in June with organic sales growth of 6% and adjusted [earnings before interest and tax] growth of 9%.

This is our third consecutive year of accelerating top line growth, and we expect to sustain this momentum including by stepping up investments in areas such as higher value-add priority segments.

What’s next?

Amcor also provided guidance for financial year 2023.

It expects to report adjusted EPS of around 80 US cents to 84 US cents on a reported basis. That would include approximately 3% to 8% of growth on a comparable constant currency basis, comprising around 5% to 10% growth from underlying business performance and a benefit of approximately 2% from share repurchases, partially offset by a negative impact of around 4% related to higher estimated net interest expense.

It also considers an approximate 2% impact from the scale down and sale of its Russian assets, expected to be completed in the second half, and a negative impact of around 2% related to a stronger US dollar.

Amcor also expects to report approximately US$1 billion to US$1.1 billion of adjusted free cash flow and plans to put around US$400 million towards share repurchases.

Amcor share price snapshot

Today’s dip included, the Amcor share price is still well and truly in the longer-term green.

It has gained 11% since the start of 2022. It’s also currently 8% higher than it was this time last year.

For comparison, the ASX 200 has slumped 6% so far this year and 5% over the last 12 months.

The post Amcor share price slides despite ‘another outstanding year’ of earnings appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why Amcor, Arafura, Block, and Janus Henderson shares are dropping
• How to beat the market with ‘boring’ ASX shares: fundie

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 positions in and has recommended Amcor 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

It may be tough to fathom how stocks can compound your wealth over years and decades. The secret to getting rich is nothing amazing — it simply involves buying and owning great stocks over the long term. What you do need, however, is patience to stay the course as share prices can go through significant volatility in the short run.

That said, if the selection process is done correctly, all you need is to sit tight on your winners. Great companies can steadily grow their revenue, profits, and cash flow over time, catalyzing the rise in their stock price and helping you to get rich by the time retirement comes along.

The attributes you should look for include a strong and growing brand, trends that can sustain long-term growth, and a long runway for that growth to materialize. Technology companies qualify as great compounders because many have dominant brands and are well-positioned to grow along with digital adoption and technological advancements.

Here are three technology stocks with all the factors in place that can grow your pot of gold for your retirement.

Apple

Apple Inc. (NASDAQ: AAPL) must surely qualify as one of the most innovative technology companies in the world. The manufacturer of the iPhone has, time and again, proven that its brand alone is enough to endear a generation of loyal followers to its multitude of products, devices, and services. The technology behemoth has dipped just 5% year to date, despite a near-18% decline in the NASDAQ Composite index over the same period, a testament to its durability and resilience.

Financially, the company has continued to post increasing revenue and net income over the past three years despite the onset of the COVID-19 pandemic. For its fiscal 2019 (ended Sept. 28), net sales clocked in at $260.2 billion and rose to $365.8 billion by fiscal 2021. Net income soared by 71.3% over the same period to hit $94.7 billion. The technology giant has also continued raising its quarterly dividend after going through a 4-for-1 stock split in 2020.

Apple recently also reported a strong fiscal 2022 third quarter, with revenue hitting a record high of $83 billion, up 2% year over year. Its active installed base of devices also reached a new all-time high for all its major product categories, while a record number of people have ditched other brands to switch to its ubiquitous iPhone.

The company expects strong iPhone sales in 2023 despite a looming economic slowdown and has ordered its suppliers to assemble 90 million of them for the next iteration of its iPhone, the iPhone 14. Elsewhere, the company’s innovation may surface again for the next version of its smart watch, allowing for an accurate temperature sensor to be incorporated into it. Investors can keep the faith that Apple’s strong brand power and its continued innovation will help to steadily grow its loyal customer base.

PayPal

Payments company PayPal Holdings (NASDAQ: PYPL) has been an important conduit connecting merchants and their customers for many years. Its platform and digital wallet allow customers to conduct a wide variety of secure online transactions that have seen total payment volume (TPV) grow steadily for the company. Over the years, PayPal has also expanded its payment options, recently allowing customers in the U.K. to transact using cryptocurrencies such as Bitcoin and Ethereum.

The company’s financial and operating metrics have also impressed. Net revenue climbed from $17.8 billion in 2019 to $25.4 billion in 2021, with net income jumping nearly 70% over the same period to $4.2 billion. For the first half of 2022, net revenue retained its uptrend, rising by 8.3% year over year.

PayPal has also committed to improving its operating margin in 2023 while authorizing a new $15 billion share repurchase plan. Total active accounts rose from 305 million in 2019 to 426 million in 2021, with TPV growing from $712 billion to $1.25 trillion over the two years. 

There’s every indication PayPal can continue its momentum as the pandemic has accelerated digital adoption and e-commerce usage. The payments company is tapping this trend to continue growing its user base and TPV. In time, the increase in the number of users on its platform should also lift its revenue and net income.

MercadoLibre

MercadoLibre (NASDAQ: MELI) is the largest e-commerce player in Latin America. It not only provides a platform for buyers and sellers in the region to trade products, but also hosts a payments platform and operates a logistics fulfilment network to provide an all-encompassing fintech solution.

The company’s financial growth has been stunning, with net revenue more than tripling from from $2.3 billion in 2019 to $7.1 billion in 2021. MercadoLibre went from a net loss of around $172 million in 2019 to a net profit of $83.3 million and has reported a strong surge in operating metrics along the way.

Gross merchandise volume (GMV), a measure of the transaction flow on the company’s platform, doubled from $14 billion in 2019 to $28.3 billion in 2021, while TPV soared from $28.4 billion to $77.4 billion over the same period. Needless to say, the total items shipped and the number of payment transactions have also ballooned in tandem, making MercadoLibre one of the leading e-commerce players in the region.

The momentum has continued into 2022, with its second-quarter GMV reaching an all-time high of over $8.5 billion, up 22% year over year. The company’s growth shows no sign of slowing as it launches improvements to its platform such as fast and free shipping for three-quarters of its GMV and a better navigation tool to encourage usage. Its fintech solutions division is also launching more financial services and increasing its access to credit to attract more users and merchants.

With a dominant market position in South America and a culture of continuous improvement, MercadoLibre looks set to continue its breakneck growth in the years ahead.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 3 top US tech stocks that could help make you rich by retirement appeared first on The Motley Fool Australia.

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More reading

• 1 emerging catalyst that Apple investors may have missed
• 4 key traits Warren Buffett uses to pick the best stocks
• 5 tech stocks sending the Nasdaq higher on Wednesday
• Why Apple stock popped today
• Why are ASX 200 tech shares having such a stellar run today?

Royston Yang has positions in Apple and PayPal Holdings. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, MercadoLibre, and PayPal Holdings. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple and PayPal Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The ASX Ltd (ASX: ASX) share price is down 2.1% in morning trade, alongside a wider market slide that sees the S&P/ASX 200 Index (ASX: XJO) down 0.4%.

ASX shares closed yesterday trading for $84.64 and are currently at $82.89.

This comes following the release of the Australian securities exchange operator’s results for the 2022 financial year (FY22).

ASX share price slides despite profit boost

• Operating revenue of $1.02 billion, up 7.5% year on year
• Net profit after tax (NPAT) increased 5.7% from FY21 to $508.5 million
• Earnings before interest and tax (EBIT) of $689.2 million, up 7.5% year on year
• Total expenses of $333.5 million increased 7.5% from the prior year
• Final dividend, fully franked, of $1.20 per share, up 7.9% from FY21

What else happened during the year?

The full-year dividend payout from the ASX came to $2.36 per share, up 5.7% from the previous year. That reflected a 5.7% increase in earnings per share (EPS), which increased in line with higher profits.

The ASX maintained its 90% payout ratio to shareholders.

The company said the strong results were spurred by growth in listings and equity-related activities, while lower futures volumes threw up some headwinds.

Over the year the ASX continued to invest in technology with an eye on future growth opportunities.

What did management say?

Commenting on the results, ASX CEO Helen Lofthouse said:

ASX continues to benefit from its diversified business model. We saw decade-high levels of listings activity, particularly in the first half, with 217 new listings in the period – the highest number since FY08. And the total amount of capital raised increased 56% to $159.4 billion (excluding the BHP capital unification), a new record overall.

The Markets business benefited from higher equity trading activity and demand for commodities products. However, this was partly offset by the impact of the lower interest rate environment on futures volumes…

The strength of ASX’s core business has allowed us to deliver long-term growth for shareholders during a period of significant volatility and uncertainty.

What’s next?

Looking ahead, ASX said a key focus area is its customers, noting that technology is fundamental to what the company does.

Regarding the ongoing CHESS replacement project, which has faced technical issues and setbacks, Lofthouse said, “We have identified that more development is needed in parts of the application software to meet the market’s scalability and resilience requirements for new CHESS. We have commissioned an independent review of the application by Accenture.”

Acknowledging that it was disappointing to delay the go-live timeline for a third time, Lofthouse added, “But we all agree that new CHESS must be implemented safely and with the functionality to serve the market’s needs.”

ASX share price snapshot

So far in 2022, the ASX share price is down 10%. That compares to a 6% year-to-date loss posted by the ASX 200.

The post 6% dividend boost in FY22 yet ASX share price slides today appeared first on The Motley Fool Australia.

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More reading

• Why Appen, ASX, Credit Corp, and Newcrest shares are dropping today
• ASX share price sinks as CHESS replacement delayed

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 Telix Pharmaceuticals Ltd (ASX: TLX) share price plunged in early trade on Thursday after the company revealed its results for the half-year ending 30 June.

Shares in the ASX biotech company are currently trading down 4.1% at $6.96 after touching an intraday low of $6.66 this morning.

What did the company report?

• Revenue up 726% to hit $24 million
• Loss after income tax attributable to shareholders up 118% to $70.9 million
• Cash at the end of the half-year 456% higher to hit $122.6 million
• Global sales of Illuccix were $22.5 million.

What else happened in the half-year?

The major highlight for Telix in the first half of the calendar year 2022 was arguably the biggest milestone in the company’s history. That was the commercial launch of its prostate cancer product Illuccix in April, which triggered an 11% share price gain that morning.

The product is now available in 149 pharmacies across the United States, which brought in $19.3 million in sales.

What did management say?

Telix chair Kevin McCann and chief executive Christian Behrenbruch jointly released a statement saying:

Telix is developing a portfolio of radiopharmaceutical products that aims to address significant unmet medical [needs] in oncology and rare diseases.

The principal activities of the group during the half-year were directed to the first commercial sales of Illuccix in the United States and the further development of the group’s pipeline of radiopharmaceutical products, including completion of recruitment into the company’s phase III pivotal clinical trial of TLX250-CDx for renal cancer imaging.

What’s next?

The company did not provide specific guidance for the second half or the full year.

Telix is currently working through approvals to commercially release Illuccix in Australia, Europe, the United Kingdom, Canada, South Korea and China. The product already has commercial approval for the New Zealand market.

The pharma company is also working on solutions for other cancers, such as renal and bone marrow.

Telix share price snapshot

The Telix share price has been on a wild ride this year.

It started 2022 at around $8.22 but was caught up in the brutal sell-off of high-growth and biotechnology shares to plunge to $3.55 by mid-May.

But since then, the commercial release of Illuccix seems to have caught investors’ attention, with the stock more than doubling in just three months.

The post Telix share price slides despite 726% revenue boost appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today

Motley Fool contributor Tony Yoo has positions in TELIXPHARM DEF SET. 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 Origin Energy Ltd (ASX: ORG) share price is in the red after the company released its earnings for FY22.

The energy producer and retailer’s share price opened 4% lower at $5.82 before plunging to trade at $5.695 right now. That marks a 6.18% fall.

Origin share price falls on $1.4 billion loss

Here are the key metrics in Origin’s report:

• Total revenue lifted to $14.46 billion ­– 20% higher than that of the prior corresponding period (pcp)
• The loss was $1.43 billion – an improvement from the pcp’s $2.28 billion loss
• It posted an underlying profit of $407 million – a 30% improvement
• Earnings per share (EPS) lifted to an 81.5 cent loss, up from a $1.296 loss pcp
• Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) came to $2.11 million – a 3.8% improvement
• Revealed a 16.5 cent, 75% franked final dividend.

The ASX 200 energy company moved closer to profitability in FY22, with its full-year loss mostly reflecting a $2.2 billion non-cash impairment flagged last month.

Its Energy Markets business posted $365 million of underlying EBITDA – a year over year drop. It was impacted by high commodity prices, domestic supply interruptions, volatile wholesale electricity prices, higher fuel costs, and wet weather.

Its Integrated Gas business saw a 62% improvement in underlying EBITDA, rising to $1.8 billion, while it saw a record cash distribution of $1.59 billion from Australia Pacific LNG (APLNG).

What else happened in FY22?

FY22 was a busy year for Origin and its shareholders.

The market heard the value of the company’s investment in Octopus Energy had more than doubled to around $5.5 billion at the time of the September announcement. The Origin share price lifted 5% on the back of the news.

The energy giant also sold a 10% stake in APLNG for $2.1 billion and revealed its decision to dump its Eraring coal-fired power station in 2025, seven years earlier than previously planned.

Finally, the Origin share price lifted 1.4% when the company announced a $250 million on-market share buyback in March.

What did management say?

Origin CEO Frank Calabria commented on the company’s FY22 performance, saying:

The value of Origin’s integrated business is evident in this result, as higher commodity prices drove strong earnings from Integrated Gas, helping to offset lower earnings from Energy Markets as it grappled with an almost unparalleled year in terms of market conditions.

Overall, I’m pleased with how the business navigated a myriad of challenges from high commodity prices and volatile wholesale energy prices; to fuel supply shortages and multiple weather events, while being able to deliver higher underlying profit and strong cash flow.

What’s next?

Origin didn’t provide any new earnings guidance today, saying it’s still uncertain about FY23.

Though, it did note it expects its underlying earnings to improve on the back of its gas business while profits in its electricity segment will likely remain suppressed.

It’s still at risk of coal under-delivery due to rail and mine performances. APLNG production for FY23 is expected to be between 680 petajoules and 710 petajoules.

Looking further into the future, Origin anticipates growth in underlying earnings will continue in FY24, but the magnitude of such growth is dependent on many outside factors.

Origin share price snapshot

Today’s tumble hasn’t been enough to send the Origin share price into the longer-term red.

It’s still trading 7% higher than it was at the start of 2022. It has also gained 31% since this time last year.

For comparison, the S&P/ASX 200 Index (ASX: XAO) has dumped 7% of its value year to date and 6% over the past 12 months.

The post Origin share price tumbles 6% on $1.4 billion loss appeared first on The Motley Fool Australia.

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More reading

• Origin share price dips amid fresh climate pressure from shareholders
• ‘Massive untapped demand’: The $3 trillion opportunity ASX 200 energy shares could be missing
• ‘Alarming’: ASX 200 energy shares lift despite increasing government pressure over supply outlook
• ‘Extraordinarily challenging quarter’: Origin share price lifts despite $2.2b write down

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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