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The AUB Group Ltd (ASX: AUB) share price is tracking lower on Tuesday as shareholder eyes trawl through the company’s FY24 first-half results.

As the sun charts course for the horizon, shares in the insurance broker and underwriter are likewise heading lower. At the time of writing, AUB shares are down 2.5% to $30.04 per share. Though, it was a far bloodier scene this morning, with the share price falling as much as 5.8% to $29.00.

What did the company report?

The following are underlying figures from AUB Group for the first half of FY24:

• Revenue up 36.4% on prior corresponding period to $635.7 million
• Earnings before interest and tax (EBIT) margin up 1.2% to 32.5%
• Net profits after tax (NPAT) up 50.5% to $70.2 million
• Earnings per share (EPS) up 34.4% to 64.76 cents per share
• Interim dividend of 20 cents per share, up 17.6%

AUB experienced revenue growth across all of its divisions during the half. Most notably, the agencies division — encompassing its specialised underwriters — delivered the greatest growth at a 45.4% improvement year on year.

While a large component of AUB’s staggering 50% uplift in earnings came from its Tysers acquisition, a majority (65%) of the company’s $23.5 million of additional profits were attributable to organic growth, as shown above.

What else happened in the first half?

On 2 November 2023, AUB Group resolved an investigation into its newly added Tysers. The United States Department of Justice (DOJ) investigated people involved with Tysers while conducting business in Ecuador between 2013 and 2017.

The matter was resolved by the company agreeing to pay US$46.589 million to the DOJ.

Oddly enough, the AUB share price was relatively undeterred by the news. Shares moved higher upon the announcement’s release. Moreover, the company’s share price has rallied from around $27 to approximately $30 since then, as depicted above.

What did AUB management say?

Reflecting on a positive half, AUB Group and managing director Michael Emmett said:

I’m very proud of all that we as a Group have achieved not only over the past year but over several years. Specifically, I’d like to acknowledge the Agency and New Zealand teams who have delivered another very strong set of results.

Emmett continued:

These, along with the strong performance in Australian Broking and BizCover, have ensured that these AUB Group results are some of our strongest ever. I’d also like to acknowledge the Tysers team and some of the recent additions to our International Businesses.

What’s next?

Another major positive for AUB shareholders is the accompanying full-year guidance upgrade today.

In FY24, management now anticipates underlying NPAT between $161 million and $171 million. The upgrade represents a 4.4% increase from the midpoint of the company’s prior guidance. If achieved, it would see AUB post a 24.7% to 32.5% increase on FY23’s underlying profits.

AUB Group share price snapshot

Despite a lacklustre showing today, the AUB share price has surpassed the Aussie benchmark in leaps and bounds over the last year.

The S&P/ASX 200 Index (ASX: XJO) is up 4.1% compared to a year ago. Meanwhile, AUB Group shares are 15.6% greener. However, the company now trades at a rather rich 46 times earnings. Whether it proves expensive depends on whether the growing insurance broker can keep up the above-average growth.

The post AUB share price slides as profits soar 50% in first half appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today

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 recommended Aub Group. 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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CSL Ltd (ASX: CSL) may be the third-largest stock on the S&P/ASX 200 Index (ASX: XJO). But unlike most of its peers in the top echelons of the ASX 200, CSL is not well-known as a generous dividend payer. 

In fact, out of the ASX 200’s top ten shares, CSL is currently one of only two shares that today offers a dividend yield of under 3% (the other being Goodman Group (ASX: GMG)).

However, this simple observation hides what has been a fairly compelling dividend growth story for CSL shares and their owners. So today, let’s dive into the dividend growth history of the CSL share price.

What is a dividend growth rate?

A dividend growth rate simply refers to the consistency and magnitude of a company’s dividend growth over time. If a company pays out $1 per share in dividends in one year, but $1.10 in the next and $1.20 in the year after that, we can say it has an average dividend growth rate of 10% per annum.

Of course, many companies don’t consistently grow their dividend every single year. Many, particularly cyclical shares like mining companies, adjust them from year to year based on how much profits they are raking in.

Fortunately for lovers of consistently rising dividends, CSL shares fall into the former category.

What is the growth rate of the CSL dividend?

CSL shares have raised their shareholder income every single year since 2015, bar one. Back in 2015, shareholders enjoyed an annual total of US$1.24 per share. But by 2023, this had risen to US$2.36 per share.

That’s following an annual dividend pay rise every single year except 2022. That year, investors enjoyed the same US$2.22 per share that they did in 2021.

Here’s what that looks like in visual form:

Over the eight years from 2015 to 2023, CSL’s annual dividend rose from US$1.24 per share to US$2.36. This works out to represent an average compounded annual growth rate, and thus dividend growth rate, of 8.38%.

Not something you might assume when looking at the current CSL share price’s trailing dividend yield of 1.21%.

The post What is the dividend growth rate of CSL stock? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Goodman Group. The Motley Fool Australia has recommended CSL and Goodman Group. 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 Core Lithium Ltd (ASX: CXO) share price is taking a beating today.

Again.

In afternoon trade on Tuesday, shares in the S&P/ASX 200 Index (ASX: XJO) lithium stock are trading for 22 cents apiece, down 6.4%.

That sees the stock down a painful 76% since this time last year.

For some context, the ASX 200 is down 0.4% at this same time.

To be fair, it’s not just the Core Lithium share price that’s having a day to forget on Tuesday.

Rival ASX lithium miner Pilbara Minerals Ltd (ASX: PLS) shares are down 2.6%, while IGO Ltd (ASX: IGO) shares are down 4.1%, and Liontown Resources Ltd (ASX: LTR) shares are down 6.6%.

So, what’s going on?

Why is the Core Lithium share price under pressure again today?

The headwinds battering ASX lithium stocks today come amid an increasingly gloomy mid-term outlook for lithium prices.

The price of the battery critical metal began to rocket in late 2021 and soared to all-time highs in late 2022 as booming EV growth drove a sharp increase in lithium demand.

This in turn saw the Core Lithium share price surge 542% from June 2021 through to November 2022.

But as more supply hit the market, the lithium price fell off a cliff in 2023, tumbling by some 80%. And with the growth of global supplies having now outpaced the growth in global demand, prices remain at three-year lows.

Now lithium supply growth is likely to slow in the medium term. Core Lithium, for example, has temporarily suspended mining operations until market conditions improve.

But it’s the even greater slide in demand growth, driven by a marked slowdown in the uptake of EVs in China and the United States, that’s likely seeing investors paring their exposure to ASX lithium miners.

China is the world’s biggest consumer of lithium, but 2024 saw the nation end its EV subsidies and other incentives for the industry.

The China Passenger Car Association now forecasts China’s EV and plug-in hybrid vehicle deliveries to dealers will still increase by 25% in 2024. But that’s down from a 36% growth rate in 2023 and a 96% growth rate in 2022.

As for the US, the world’s top economy, Gabe Robleto, senior vice president of Kerrigan Advisors noted (courtesy of Forbes):

While EV sales continue to increase, the rate of growth is slowing and EVs are stacking up on dealers’ lots, with inventory days-supply nearly double that of [internal combustion engine] vehicles.

Commenting on the slowing growth rate of EVs in the US, Alan Amici, CEO of the Center for Automotive Research said (quoted by NBC News): “I think what you’re seeing is the slope changing in how fast people are willing to purchase EVs right now because they’re expensive and there is concern about charging infrastructure.”

In what appears to be a canary in the coal mine indicator, both Ford and GM are scaling back their investments in EVs.

That bodes poorly for the medium-term outlook for lithium demand growth.

And it could see the Core Lithium share price remain under pressure until market dynamics turn around for the better.

The post Down 76% in a year, why is the Core Lithium share price getting smashed again today? 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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BHP Group Ltd (ASX: BHP) shares are having a subdued session on Tuesday.

In afternoon trade, the mining giant’s shares are down slightly to $45.97.

This follows the release of an underwhelming half-year result this morning.

What did BHP report?

As a reminder, BHP reported a 6% increase in revenue to US$27.2 billion but a sizeable 86% decline in profit after tax to US$927 million.

Though, it is worth noting that the latter was impacted by one-off exceptional items relating to its Western Australia Nickel operation and the Samarco dam failure.

If you take these out of the equation, BHP’s earnings would have been flat at US$6.6 billion for the half.

What about the BHP dividend? Let’s dig deeper into that now.

BHP dividend

The BHP board declared a fully franked interim dividend of 72 US cents per share (A$1.10 per share) for the six months ended 31 December. This represents a total return of US$3.6 billion and equates to a payout ratio of 56%.

And while this dividend is down 20% on the 90 US cents fully franked it paid in the prior corresponding period and is the smallest dividend since 2020, it was still slightly ahead of the market’s expectations.

When is pay day?

If you want to receive this dividend on pay day, then you will need to own BHP shares before they go ex-dividend next month on 7 March.

After which, you can look forward to receiving the payout a few weeks later on 28 March.

Alternatively, eligible shareholders can elect to take advantage of the miner’s dividend reinvestment plan. To do so, they need to let BHP know by 5 March.

The post Here’s everything you need to know about the latest BHP dividend appeared first on The Motley Fool Australia.

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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 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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Four S&P/ASX 200 Index (ASX: XJO) shares have just gained some sizeable upgrades from leading brokers.

The improved outlook came on the heels of the companies’ earnings results.

The brokers forecast these stocks could leap as much as 13% over the coming year. Atop those potential share price gains, two of the companies also just declared all-time high dividends.

So, which ASX 200 shares could charge higher?

I’m glad you asked!

(Broker upgrade figures, courtesy of The Australian.)

These ASX 200 shares could leap higher in 2024

The first ASX 200 share getting an upgrade is Ampol Ltd (ASX: ALD).

The energy stock reported its full calendar year 2023 results on Monday.

Highlights included a 2% year on year increase in earnings before interest and tax (EBIT) – excluding significant items – which came in at $1.30 billion. The company also reported all-time high total sales volumes of 28.4 billion litres in 2023, up 17% from 2022.

And Ampol declared a record high, fully franked final dividend of $1.80 per share.

Macquarie appears impressed with the company’s full-year performance and outlook. The broker raised its target price by 11% to $42.50 a share. That represents a potential upside of 13% from current levels.

Cochlear Ltd (ASX: COH) also received a significant upgrade.

The cochlear implant device manufacturer reported its half-year results yesterday.

Highlights included a 20% year on year increase in revenue (in constant currency terms) to $1.11 billion. And underlying net profit was up 21% for the six months to $192 million.

This saw the ASX 200 share declare a record interim dividend of $2 per share, franked at 70%. Management also forecast 10% to 15% growth in the company’s cochlear implant units for the full 2024 financial year.

On the back of these result, Wilson raised its price target for Cochlear shares by 15% to $365 a share. This represents an 11% potential upside from current levels.

What other ASX stocks earned broker upgrades?

The third ASX 200 share earning a sizeable broker upgrade is GPT Group (ASX: GPT).

On Monday, the real estate investment trust (REIT) announced its full-year results for 2023.

GPT reported a net loss after tax of $240 million, primarily driven by investment property revaluations of negative $819 million. But funds from operations (FFO) were in line with guidance at $601 million.

And GPT pleased passive income investors with an unfranked 12.5 cent per share final dividend. That brought the full-year payout to 25 cents per share, in line with 2022.

With Aussie interest rates now likely at their peak, GPT forecasts positive leasing growth for its retail and logistic portfolios, while the office segment could continue to struggle.

On the back of these results, JPMorgan raised GPT Group to an overweight rating with a $4.90 price target. That represents a potential 11% upside from current levels.

Which brings us to the fourth ASX 200 share gaining a broker upgrade, Westpac Banking Corp (ASX: WBC).

The big four bank stock released its quarterly results on Monday. And the bank revealed it’s holding up well despite inflationary pressures and ongoing competition in the mortgage markets.

Westpac’s unaudited net profit (excluding notable items) came in at $1.8 billion, which was in line with the prior corresponding period.

As expected, core net interest margin (NIM) slipped by 0.04% from 2H 2022 to 1.80%.

And with only 31% of the bank’s $1.5 billion on market share buyback completed, the Westpac share price could find further support as more shares are taken off the market.

On the back of these results, Barrenjoey raised Westpac shares to an overweight rating with a $26 price target. That represents a potential upside of 1% from current levels.

Westpac also trades on a 5.5%, fully franked trailing dividend yield.

The post How these 4 ASX 200 shares just gained major broker upgrades 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 positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear. 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 Ansell Ltd (ASX: ANN) share price dipped 4.73% to an intraday trough of $23.04 after the personal protection safety (PPE) supplier released its 1H FY24 results.

The Ansell share price is currently $23.44, down 2.86%.

Let’s take a look at the details.

Ansell share price down on news of 18% dividend cut

Here are the key financial metrics for the six months to 31 December 2023:

• Sales of US$784.9 million, down 7.6% on the prior corresponding period (pcp) on a constant currency basis and down 6% on a reported basis
• EBIT of US$78.2 million, down 6.4% on constant currency terms and 14.5% on reported terms
• EBIT margin of 10% compared to 11% pcp
• Adjusted earnings per share (EPS) of 41.4 cents, down from 50.6 cents pcp
• Unfranked interim dividend of US16.5 cents per share payable 14 March, down 18% pcp
• Dividend represents a 40% payout ratio in line with Ansell’s dividend policy

What else happened in 1H FY24?

Ansell highlighted sales growth and margin improvement in its industrial segment. It reported a 46.7% increase in EBIT on a constant currency basis and 36% on a reported basis for the division.

Ansell explained that industrial division earnings growth was driven by carryover pricing from H2 FY23, net cost favorability, and improved chemical plant performance.

Conversely, the healthcare division’s performance was dramatically weaker. There was a 46% EBIT decline on a constant currency basis and 51.2% on a reported basis.

Ansell blamed lower sales in the surgical and life sciences category and a deliberate production slowdown, which it said yielded an inventory improvement.

The company said a targeted working capital reduction led to strong operating cash flow for the half. Operating cash flow was US$57.9 million at the end of the half, up from just US$3.5 million pcp.

Ansell said its Accelerated Productivity Investment Program, which commenced in July 2023, was on track with the annualised FY26 pre-tax savings target increasing from $45 million to $50 million. But it also raised its expected cash costs from a range of $70 million to $85 million to $85 million to $90 million.

The multi-year program comprises a series of productivity initiatives designed to help the company adjust to post-pandemic operating conditions.

Ansell was among a number of ASX healthcare shares that skyrocketed during the COVID era. The Ansell share price went from about $31.50 in February 2020 to a peak of about $42.30 in April 2021.

One of the Program’s core objectives is to reduce the manufacturing headcount and improve productivity. To this end, Ansell reduced its manufacturing staff by approximately 1,200 in 1H FY24.

What did Ansell management say?

Managing director and CEO Neil Salmon said:

I was pleased with our cashflow delivery, the strong performance from our Industrial GBU and success in implementing the initial phases of our Accelerated Productivity Investment Program …

The sales and EBIT declines in our Healthcare GBU arose on sales and margin headwinds we had anticipated at the start of the year.

As we begin the second half of the year, we see clear signs that these headwinds are moderating and expect performance in this business to improve.

We expect Industrial performance to remain strong and we are targeting approximately $20m in second half cost savings from Accelerated Productivity Investment Program initiatives …

What’s next for Ansell?

Ansell said it expected industrial and healthcare sales to grow in 2H FY24.

It reported $7 million in savings via the Accelerated Productivity Investment Program and a second-half goal of $20 million.

Ansell has narrowed its guidance range for FY24 adjusted EPS to between US 94 cents and US 110 cents.

FY24 statutory EPS is now expected to be in the range of US 54 cents to US 70 cents.

Salmon said:

Overall, our goal in the second half is to show we are moving past this recent period of post-pandemic market disruption, that we are realising the benefits of the substantial work done to strengthen our business and that we are successfully executing on our growth and productivity strategy.

Ansell share price snapshot

The Ansell share price is down 13.11% over the past 12 months.

By comparison, the S&P/ASX 200 Index (ASX: XJO) is up 4.18%.

The post Ansell share price dips on lower first-half sales and dividend cut appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has positions in Ansell. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell. 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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Liontown Resources Ltd (ASX: LTR) shares are having a difficult session on Tuesday.

In afternoon trade, the lithium developer’s shares are down a disappointing 8% to $1.16.

What’s going on with Liontown shares today?

There are a couple of reasons why the company’s shares are falling more than most today.

The first reason is weakness in the lithium industry on Tuesday. This has seen a number of ASX lithium stock tumble deep into the red.

Let’s take a look at the state of play in the industry today:

• Core Lithium Ltd (ASX: CXO) shares are down 6.5%
• Lake Resources N.L. (ASX: LKE) shares are 7.5% lower
• Pilbara Minerals Ltd (ASX: PLS) shares have dropped 2.5%
• Sayona Mining Ltd (ASX: SYA) shares are down 5%

What else is weighing on its shares?

Also putting pressure on the lithium developer’s shares today is news that it has been hit with a downgrade from a leading broker.

According to a note out of Citi, its analysts have downgraded Liontown’s shares to a sell rating (from neutral) with a price target of $1.00.

Based on its current share price, this implies potential downside of almost 14% for investors over the next 12 months.

The broker made the move on valuation grounds after a strong rally in recent weeks took its shares beyond the broker’s idea of fair value. It believes the market is currently pricing in a lithium spodumene price almost double current spot levels.

Today’s decline is just another in a long run of declines that shareholders have had to endure. For example, following this latest weakness, the Liontown share price has now lost 55% of its value over the last six months.

The post Liontown shares crash 8% on broker downgrade appeared first on The Motley Fool Australia.

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ASX 200 financial shares are outperforming the market on Wednesday as earnings season rolls on.

The S&P/ASX 200 Financials Index (ASX: XFJ) is up 0.51%, while the ASX 200 is down 0.55%.

These two ASX 200 financial shares hit new 52-week highs after the companies released their results.

Hub24 Ltd (ASX: HUB)

The Hub24 share price lifted 7.94% to a new 52-week high of $40.51 on Wednesday morning after the financial services provider reported its 1H FY24 results. Hub24 reported group underlying EBITDA of $55 million, up 10% on 1H FY23, and group underlying net profit after tax (NPAT) of $30.4 million, up 14%. The company declared an interim fully franked dividend of 18.5 cents per share to be paid on 16 April.

The ASX 200 financial share is currently trading for $39.51 per share, up 5.28%.

Netwealth Group Ltd (ASX: NWL)

Netwealth’s 1H FY24 results have also got ASX investors hitting the buy button today. The Netwealth share price also hit a new 52-week peak at $18.27, up 3.74%. This follows the financial services and technology company reporting a 27.2% bump to EBITDA at $58.8 million, with an EBITDA margin of 47.6%. Netwealth also reported NPAT of $39.3 million, an increase of 28.3% with a margin of 31.9%. The company will pay a 100% franked interim dividend of 14 cents per share on 28 March.

The ASX 200 financial share is currently trading for $18.15 per share, up 3.07%.

The post 2 ASX 200 financial shares hitting 52-week highs on earnings results appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Hub24 and Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool Australia has recommended Hub24. 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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There has been a rough reaction to some All Ordinaries (ASX: XAO), or All Ords, ASX share results. One stock has dropped around 20%!

ASX reporting season is like Christmas. It’s exciting unwrap the company report, but sometimes you really didn’t want what’s inside.

Investor reaction to a result can be just as much about expectations about the numbers than the numbers themselves. For example, if the market is expecting a company to report a 10% profit rise and it only reports a 5% rise then that’s seen as disappointing.

Let’s briefly look at these three stocks.

Humm Group Ltd (ASX: HUM)

The Humm Group share price is currently down 24%.

In the ASX All Ords share’s FY24 first half result, the financial services and instalment plan company reported that its total receivables rose by 23% to $4.65 billion, with commercial receivables up 39% to $2.7 billion. The ‘normalised cash profit after tax‘ fell 27% to $28.1 million. Higher interest rates meant a bigger interest cost to the business. The commercial finance segment saw normalised cash profit increase 12% to $21.6 million.

The company was pleased to report it had executed another $7.5 million of further cost savings during the FY24 first half, bringing the total savings to $26.1 million since the cost-saving program started in HY23.

Humm reported a statutory net loss after tax of $6 million, compared to a net profit after tax of $7.5 million in HY23.

The business declared a fully franked interim dividend of 0.75 cents per share.

Sims Ltd (ASX: SGM)

The Sims share price is currently down by 9%.

In the FY24 first half result, the metal recycling business reported that revenue rose 7.4% to $4.1 billion. Statutory earnings before interest and tax (EBIT) rose 0.2% to $163.8 million, but underlying EBIT sank 85.6% to $13.4 million. Statutory NPAT dropped 34.9% to $65.8 million.

The ASX All Ords share blamed the profit decline on lower metal trading margins and inflationary pressures, which was partly offset by “cost control measures”. It disclosed that challenging market conditions were felt across all of its metal segments, though there was a varying performance between and within geographic regions.

In terms of the outlook, Sims is confident about the medium-term and long-term. Metal-intensive infrastructure spending continues to drive longer-term demand for scrap metal.

In the short-term, the underlying EBIT is expected to improve in the second half of FY24 compared to the first half, including $25 million of cost reduction initiatives.

Sims said initiatives have been started to increase both domestic sales channels and unprocessed material in the USA. Demand for scrap metal in the USA is “expected to remain robust, supporting prices.”

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price is down 13%.

It reported in the FY24 first-half result that total sales dropped 2.5% to $248.5 million. The gross profit margin was flat, while the underlying cost of doing business (CODB) increased to 32.9% (up from 32.4%). New store running costs and higher wage costs led to the CODB worsening.

Statutory net profit after tax was flat at $2.7 million, the underlying net profit dropped 31% to $3.5 million. The interim dividend per share was cut by 33% to 1.8 cents.

Baby Bunting pointed to challenging economic conditions, though it saw an improvement in winning new customers, and it was disciplined with its inventory management. The ASX All Ords share said cost control delivered a “significant” year-over-year improvement with operating cash flow.

In terms of the trading update, between Boxing Day to 16 February 2024, total sales were down 1.4%, and online sales increased 14%. The rate of new customer acquisition was up 3.4%.

It said living pressures are still affecting customers and this is “unlikely to abate in the short-term with economising likely to continue.”

The post 3 ASX All Ords shares crashing as much as 24% on results 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 Humm Group. 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 ASX All Ords is slightly in the red in early trading on Wednesday as earnings season continues.

The S&P/ASX All Ordinaries Index (ASX: XAO) is currently down 0.04% to 7,910.1 points.

But let’s take a look at some results from three companies whose share prices are doing much better.

Bravura Solutions Ltd (ASX: BVS)

The Bravura Solutions share price rocketed 46% earlier to a new 52-week high of $1.40 on Tuesday. The ASX All Ords financial services management software provider has reported its 1H FY24 results. The company reported a return to profitability with a positive cash EBITDA of $300,000. EBITDA was $7.9 million, up $11.5 million on 1H FY23. Gross revenue came in at $127 million, up 7.4% on 1H FY23.

The ASX All Ord stock is currently trading for $1.23 per share, up 27.6%.

McMillan Shakespeare Ltd (ASX: MMS)

The 1H FY24 results of McMillan Shakespeare also has the market excited today. The ASX All Ords stock rose 15.2% to $20.10 in early trading after the employee benefits provider reported a 42.9% bump to normalised EBITDA at $86.9 million. The company declared an interim fully franked dividend of 76 cents per share, up 31% on last year’s interim payment.

The ASX All Ord stock is currently trading for $20.06 per share, up 14.93%.

Perenti Ltd (ASX: PRN)

Record first-half results have this ASX All Ords mining services company surging on Tuesday. The Perenti share price hit a high of 94 cents this morning, up 10.6% after the company released its numbers. Perenti announced a record revenue of $1.6 billion and a record underlying EBITDA of $312.4 million. Statutory NPAT(A) in 1H FY24 was $69.8 million, up from $44 million in 1H FY23. Perenti said this was due in part to a gain on the “transformative, value accretive” DDH1 acquisition.

The ASX All Ord stock is currently trading for 93 cents per share, up 8.82%.

The post ASX All Ords stocks surging 10% to 46% on earnings results appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Bravura Solutions. The Motley Fool Australia has recommended McMillan Shakespeare. 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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