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The S&P/ASX 200 Index (ASX: XJO) are on course to start the week with a large decline. In afternoon trade, the benchmark index is down 1.25% to 7,216 points.

Four ASX shares that have not let that hold them back are listed below. Here’s why they are racing higher:

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up 4% to $3.56. This follows the release of the ecommerce company’s half-year results. Although Kogan’s result was very disappointing, investors appear pleased with its trading update. It achieved a return to operating profit in January, which some investors seem to believe suggests that the worst is now behind the company.

Praemium Ltd (ASX: PPS)

The Praemium share price is up almost 7% to 78 cents. This morning, this investment platform provider released its half-year results and reported a 17% increase in revenue to $35.4 million and a 52% jump in EBITDA to $11.4 million. This was underpinned by a 6% lift in funds under administration to $42.7 billion and margin improvements.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is up 5% to $4.96. Investors have been buying this telco’s shares following the release of its full-year results. TPG posted a 1.5% increase in revenue to $4.4 billion and a 354% jump in net profit after tax to $513 million. A key driver of the result was its mobile business, which reported a 300,000 increase in subscribers to 5.28 million.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 8% to a 52-week high of $7.42. This follows the release of a roadshow presentation from the semiconductor company. While the company has made a lot of progress with its product development, it has yet to demonstrate that there is sufficient demand for its technology to command a $1.3 billion market valuation. Buyers will be hoping this doesn’t turn out to be another meme stock that ultimately crashes and burns.

The post Why Kogan, Praemium, TPG, and Weebit Nano shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• 2 ASX tech shares making massive moves right now on earnings updates
• ‘The ship has steadied’: Kogan share price climbs on first-half results
• TPG share price takes off as full-year profit soars 350%
• 3 ASX All Ords shares making moves today following earnings, one up 16%
• ASX tech share Weebit Nano has surged 90% in 2023. What’s going on?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com and Praemium. The Motley Fool Australia has positions in and has recommended Kogan.com. The Motley Fool Australia has recommended Praemium and Tpg Telecom. 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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APA Group (ASX: APA) is a leading S&P/ASX 200 Index (ASX: XJO) share. It’s also one of the main energy infrastructure businesses in Australia.

Some investors will know this business is a natural gas pipeline giant which connects sources of supply with markets across Australia. It actually supplies half of the country’s natural gas.

APA also owns, or has interests in, gas storage facilities and gas-fired power stations.

The ASX 200 energy share has been generating growing cash flow and paying growing distributions for more than a decade.

As the country shifts away from coal in a bid to decarbonise, other forms of baseload power may be needed. As such, APA’s gas assets could be important for many years to come.

But while natural gas usage could be needed for the energy transition, there are two other sides to the business that could also help Australia decarbonise.

Hydrogen in the pipeline?

APA’s pipelines may be used for transporting natural gas, but transporting hydrogen could also be in APA’s future.

Last year, APA announced a “landmark” hydrogen pilot project. This will see the conversion of 43km of the Parmelia gas pipeline in Western Australia into Australia’s first 100% hydrogen-ready transmission pipeline.

The project will test and prove the capacity of the existing gas transmission pipeline network to transport hydrogen in pure form or blended with natural gas.

APA pointed to studies that have shown continuing to use gas infrastructure can reduce emissions at half the cost to customers than electrifying the services now provided by gas.

The first phase of the Parmelia gas pipeline conversion has now been completed.

APA is also part of a consortium of Australian and Japanese energy players to establish “Queensland’s largest green hydrogen project”.

This could extend the life of APA’s pipelines and keep generating earnings.

Electricity assets

The business is also involved with renewable energy and electricity transmission.

APA owns some renewable energy generation assets. These include the Darlings Downs solar farm near Dalby in Queensland which supplies electricity to the national energy market (NEM).

The ASX 200 energy share also owns the Badgingarra and Emu Downs wind and solar farms located approximately 200km north of Perth near Cervantes. These supply electricity to the South West Interconnected system in Western Australia.

In FY21, APA’s owned and operated renewable generation assets were the eighth-largest generator of electricity from solar and wind in Australia.

In December 2021, APA reached the final investment decision stage on an 88MW solar farm in Mica Creek. When completed, it will be the “largest solar farm outside of the main electricity grid”.

As renewable electricity generation increases, the importance of electricity transmission also increases.

APA owns a part share in the Murraylink and Directlink interconnectors and operates these assets to transmit electricity between NEM regions.

The ASX 200 energy share also recently completed the acquisition of Basslink. Basslink owns and operates the 370km high voltage direct currency electricity connector between Victoria and Tasmania. It had a construction cost of approximately $877 million, although APA bought it for $773 million.

Contracts are in place with Hydro Tasmania and the State of Tasmania to provide predictable revenue while APA works to convert Basslink to a regulated asset under an agreed consultation process, and enact improvements.

APA’s acting CEO Adam Watson said:

The acquisition of Basslink is consistent with APA’s strategy to increase its electricity transmission footprint and to play a leading role in the energy transition.

APA share price snapshot

APA has been an impressive business over the last two decades and I think there’s more to come. I’d be happy to invest in it as an infrastructure or passive income play, though I wouldn’t expect strong capital growth because of the nature of what it does.

Over the past year, the APA share price has risen by 8%.

The post Could this ASX 200 share be the best way to play the energy transition? appeared first on The Motley Fool Australia.

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More reading

• This ASX 200 travel share is experiencing turbulence. I think it’s a buy
• These are my top ASX 200 growth shares to buy today
• 5 things to watch on the ASX 200 on Monday
• For $200 in weekly passive income, buy 10,300 shares of this ASX 200 stock
• Why I think NAB could be the best ASX 200 bank share to buy right now

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 positions in and has recommended Apa 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 Droneshield Ltd (ASX: DRO) share price is under pressure on Monday. That’s despite the drone defence company reporting record revenue and cash receipts in its full-year 2022 results.

After very strong share price gains over the past 12 months, investors may be looking to take some profits off the table. And market expectations for the company appear to have exceeded what it delivered, with profitability still just out of reach.

Shares in the ASX tech company closed Friday at 35 cents. Shares are currently changing hands for 33 cents apiece, down 5.7%.

Droneshield share price slides despite record revenue

• Record 2022 revenue from continuing activities increased 59% from 2021 to $16.9 million
• After tax loss of $949,000, down 82% from the losses posted in 2021
• Entered 2023 with a record $200 million in sales pipeline
• Current cash balance of approximately $20.5 million with no debt or convertibles

What else happened during the year?

Other highlights that impacted the Droneshield share price included December’s record $11 million. That was followed by another $11 million order from a different government customer in January 2023.

The company also said Russia’s invasion of Ukraine is spurring demand for counter-drone equipment. Droneshield noted its successful sale of equipment to Ukraine at the start of the war.

Droneshield also forecasts that demand for anti-drone technology will remain elevated, even after the war in Ukraine ends. It said most of the world’s government agencies and militaries have little to no existing counter-drone stocks, with many looking to build up an inventory.

What did management say?

Commenting on the results, and some upcoming tailwinds that could lift the Droneshield share price down the road, CEO Oleg Vornik said:

We are thrilled to report another record revenue year by a significant margin, and quickly improving bottom-line results.

2023 is expected to be a transformational year for the business, as has already been witnessed by two all-time record $11 million orders in December 2022 and January 2023, and a substantial pipeline of opportunities that we are in the process of converting.

Droneshield share price snapshot

As you can see in the chart below, the Droneshield share price has been an exceptional performer over the last 12 months. Despite today’s retrace, the ASX tech share is up 42% in 2023 and up 92% over the full year.

The post Droneshield share price dips despite record year appeared first on The Motley Fool Australia.

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More reading

• Why is the DroneShield share price surging 10% today?
• ASX shares: Invest in these 2 stocks for a legit chance at $1 million
• Why is the DroneShield share price halted on Thursday?

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 DroneShield. The Motley Fool Australia has recommended DroneShield. 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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Warren Buffett released his eagerly anticipated letter to shareholders at the weekend and, as always, it offered up some great advice to investors.

But before we get to that, let’s just take a quick look at the performance of Buffett’s Berkshire Hathaway (NYSE:BRK.A) business.

The letter shows that 2022 was another successful year for the Oracle of Omaha. Although the book value of Berkshire Hathaway’s shares rose by a modest 4% over the 12 months, this was materially better than the return of the S&P 500 index (including dividends), which was negative 18.1%.

That’s an annual outperformance of 22.1% for the year, which is business as usual for Buffett and Berkshire Hathaway. Since 1965, Berkshire Hathaway’s book value per share has increased by an average of 19.8% per annum, which is double the S&P 500 index’s return of 9.9%.

To put that into context, a single $500 investment into Berkshire Hathaway in 1965 would now be worth $14.8 million. Whereas that same investment in the S&P 500 would be worth a touch under $110,000. What a difference!

So, what is the key to generating Buffett returns? One of the keys is starting early.

‘The weeds wither away in significance as the flowers bloom’

Compounding is your best friend when you’re investing, and the earlier you start, the more your friend can help you. Combine that with finding a few winning ASX shares, and you’re on your way to growing your wealth.

In his latest letter, Buffett spoke about the difference great investments can have on a portfolio. He opined:

In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire. The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow. […] These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion.

Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.

The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.

The post Beginner investor? Warren Buffett says start early! appeared first on The Motley Fool Australia.

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More reading

• How to generate passive income the Warren Buffett way with ASX shares
• I’m listening to Warren Buffett and buying ASX shares at deep discounts
• Will the stock market crash in 2023?
• Invest like Warren Buffett with these ASX shares
• 2 Warren Buffett-style ASX dividend stocks for big income

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway. The Motley Fool Australia has recommended Berkshire Hathaway. 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 share price of S&P/ASX 200 Index (ASX: XJO) industrials company Downer EDI Ltd (ASX: DOW) is plummeting after it posted disappointing half-year earnings.

Right now, the stock is down 20.58%, trading at $3.145.

Downer share price crumbles on disappointing earnings

Here are the key takeaways from the engineering, construction, and maintenance business’ first half results:

• $68.1 million of profit ­– a 20.3% fall on that of the prior comparable period (pcp)
• $6.1 billion of revenue – up 2.9%
• $129.8 million of earnings before interest and tax (EBIT) – down 22.5% on the pcp
• Basic earnings per share (EPS) slipped 21.8% to 9.3 cents
• 5 cent per share final dividend declared – down from the pcp’s 12 cent offering

The company said that, while it posted higher revenue, its earnings were impacted by unprecedented weather, labour shortages, and contract and project losses in its utilities segment.

Its utilities segment saw its revenue lift 12.3% to $1.1 billion. However, its earnings before interest and tax and amortisation of acquired intangible assets (EBITA) plunged to a $5.2 million loss.

Meanwhile, its transport segment saw a 1.2% increase in revenue to $2.7 billion while its EBITA fell 14.5% to $88.7 million. Finally, its facilities segment brought it $2.3 billion of revenue and $99 million of EBITA – up 11.8% and 11.1% respectively on the pcp.

Downer’s expenses also rose 3.3% last half to $178.2 million.

What else is going on with the company today?

As readers might remember, Downer revealed a major accounting error in December. It has provided an update on the mistake today.

The company has investigated the errors and is confident the misreporting is only related to one specific contract. All up, the error meant its post-tax earnings were overstated by $22.2 million between April 2020 and June 2022.

The utilities management team responsible for the contract has been replaced while the company has restated its earnings for the impacted period.

What’s next?

The Downer share price might also be being weighed down by the company’s second guidance downgrade of financial year 2023.

It previously dropped its forecasted profit after tax and before amortisation of acquired intangible assets (NPATA) to between $210 million and $230 million

Today, it dropped its outlook for the measure once more to between $170 million and $190 million.

The latest downgrade comes on the loss of a utilities contract, risk of water project losses, a slowdown in Government minor capital works, and the impact of storms and flooding in New Zealand. Though, the company expects the latter to provide opportunities in financial year 2024.

Downer share price snapshot

Today’s plunge sees the Downer share price in the year-to-date red, having fallen 14% since the start of 2023. It’s also currently down 37% over the last 12 months.

For comparison, the ASX 200 has risen 4% year to date and 3% over the last 12 months.

The post ASX 200 share Downer crashes 21% on lower profit and guidance appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today

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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Income investors rejoice! The latest Woodside Energy Group Ltd (ASX: WDS) dividend has been declared, and it’s a big one!

This follows the release of the energy giant’s full-year results for FY 2022 this morning.

What happened during FY 2022?

In case you missed it, this morning Woodside posted a 142% increase in operating revenue to US$16,817 million. This was driven by a combination of higher realised prices, additional volume from the BHP Group Ltd (ASX: BHP) petroleum merger, and a strong operational performance.

On the bottom line, things were even better, with Woodside’s profits more than tripling. It reported a 223% increase in underlying net profit after tax to a record of US$5,230 million.

And while its dividends per share didn’t quite grow as quickly due to its increased share count from the BHP merger, it was still a significant jump year over year. Especially in comparison to what we’ve seen from fellow ASX 200 shares during earnings season.

The Woodside dividend

The Woodside board elected to increase its fully franked final dividend by 37% to a record of US$1.44 per share.

Including its interim dividend of US$1.09 per share, this brought the full-year Woodside dividend to a record US$2.53 per share. This was an increase of 87% year over year and represents a total distribution of US$4,804 million.

In Australian dollars, Woodside’s final dividend equates to $2.14 per share, whereas its full-year dividend equates to $3.75 per share. The latter represents a massive 10.8% yield based on the current Woodside share price.

The good news is that it isn’t too late to snap up this final dividend. Woodside shares will trade ex-dividend on 8 March. After which, eligible shareholders can look forward to receiving this dividend the following month on 5 April.

The post The Woodside dividend has just been boosted by 87%. Here’s what you need to know appeared first on The Motley Fool Australia.

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• Woodside share price higher on record US$5.23b profit
• Earnings preview: Here are the ASX shares reporting on Monday
• 5 things to watch on the ASX 200 on Monday
• 3 steps to bring in $1,000 per month in passive income
• These ASX dividend shares offer huge yields: experts

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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It’s been a pretty nasty start to the trading week for ASX shares and the All Ordinaries Index (ASX: XAO) so far this Monday. The ASX seems to be suffering from some Monday-itis today, with the All Ords currently down by a significant 1.27%.

But one All Ords share – Bubs Australia Ltd (ASX: BUB) – isn’t joining the pity party just yet.

Bubs shares closed at 28 cents each last week. And that’s where the ASX dairy company will be staying, at least for a while. While the ASX is falling today, Bubs shares are (perhaps mercifully) frozen at 28 cents each.

This morning, just before market open, Bubs released an ASX announcement to the markets. This informed investors that the Bus share price would be suspended from trading.

Here’s what the statement said in full:

Trading in the securities of the entity will be temporarily paused pending a further announcement.

And that’s it. That’s all we know for now.

So why is the Bubs share price frozen today?

So what might be going on with Bubs today? Well, it’s really not clear. However, Bubs shares have been under pressure ever since the company’s latest quarterly update was made public at the end of January.

As we covered at the time, this saw Bubs report revenues of $14.3 million for the three months ending 31 December 2022. That was a 28% drop from what the company reported last year. Half-year revenues also slid, but only by 1% to $37.9 million.

Cash outflows came in at $13.5 million for the quarter, which reduced the company’s cash balance from $64.6 million to $51.4 million.

Upon the release of this update, the Bubs share price cratered by a nasty 11.11%. The company has now fallen almost 21% from where it was before this report was released at today’s pricing:

So perhaps today’s announcement could relate to a capital raising program or some other measure to boost Bubs’ balance sheet. Or it could be something else. We’ll just have to wait and see what Bubs pulls out of its hat. Watch this space.

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

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More reading

• Why Bubs, Core Lithium, Megaport, and Pointsbet shares are crashing today
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• I think these 2 ASX shares are steals

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 Bubs Australia. 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 Aeris Resources Ltd (ASX: AIS) share price could be one of the best opportunities in the ASX mining share sector.

For readers that haven’t heard of it before, it’s predominately a copper miner. But, it has exposure to other commodities including gold and zinc.

While its headquarters are in Brisbane, its portfolio (including exploration targets) is across the country in Queensland, Western Australia, New South Wales and Victoria.

The ASX mining share is well-placed for growth

At the end of the FY23 second quarter, it had $67.2 million of cash on the balance sheet and it was debt free. Its balance sheet is in great shape to pursue multiple growth activities.

The business said that it has a “strong pipeline of organic growth projects, an aggressive exploration program and continues to investigate strategic merger and acquisitions opportunities.”

In its FY23 second quarter update, it noted resource upgrades at Golden Plateau (Cracow project) and Turbo (Jaguar project). It also mentioned high-grade copper intersections from drilling at Avoca Tank and Kurrajong (Tritton project).

The ASX mining share is also working on other areas to add resources to grow the business. For example, its Barbara exploration efforts will include a mining study that could result in a potential underground operation “of similar scale to Mt Colin”.

All of the above bodes well for the future Aeris Resources share price, in my opinion.

Copper demand to boom?

Various reporting suggests that copper demand is going to increase significantly as the world moves towards decarbonisation and electrification.

For example, CNBC noted that electric vehicles, solar, wind power and batteries for energy storage all require copper. An electric vehicle needs 2.5 times as much copper as an internal combustion engine vehicle, according to S&P Global. The growing electricity grid will also need a lot of copper.

S&P Global suggested that copper demand will nearly double to 50 million tonnes by 2035.

To me, this suggests that the copper price could rise as well, though I’m not going to try to predict how far it could go.

Compelling valuation

The Aeris Resources share price has risen close to 40% since this article, which suggested that the copper miner could have a good year in 2023.

I still think that the ASX mining share is on track for pleasing shareholder returns from here.

The forecast on Commsec suggests that Aeris could achieve earnings per share (EPS) of 15.1 cents in FY24 and 15.6 cents in FY25, putting it at under 5 times the estimated earnings for those years.

If those forecasts are correct (or conservative) and if Aeris reaches a price/earnings (P/E) ratio of (just) 6, it would be a share price return of over 20%.

Also, with a possible P/E ratio at such a low number, any dividends would end up being a very large dividend yield, though there’s no talk of dividends yet.

Imagine if Aeris keeps making 15 cents per share of EPS and it targets a dividend payout ratio of 50%. A dividend of 7.5 cents per share would be a cash dividend yield of 10.1% and 14.5% assuming the Aussie company generated and attached franking credits.

For now, the ASX mining share’s cash is better spent on growth expenditure.

The post I think this ASX mining share is a hidden treasure waiting to be discovered appeared first on The Motley Fool Australia.

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More reading

• Is copper the new lithium? Expert names 3 ASX shares to buy
• 3 top ASX mining shares I’d dig into and buy in February

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

from The Motley Fool Australia https://www.fool.com.au/2023/02/27/i-think-this-asx-mining-share-is-a-hidden-treasure-waiting-to-be-discovered/

Two ASX tech shares are making big moves today.

Albeit in opposite directions.

The S&P/ASX All Technology Index (ASX: XTX) is down 1.4% following sharp losses posted by tech stocks on the NASDAQ Composite Index on Friday.

But that hasn’t deterred investors from bidding up fintech stock Praemium Ltd (ASX: PPS), which was up 11% in earlier trading and remains up 7.12% at the time of writing.

Bigtincan Holdings Ltd (ASX: BTH) isn’t receiving the same love today. Shares in the company, which provides an AI-powered, online sales enablement platform, are down 3.77%, having earlier posted losses of more than 8%.

Both ASX tech shares are making these big moves after releasing their half-year results for the six months ending 31 December.

Here’s what investors are mulling over.

ASX tech share sinks as losses mount

Kicking off with the earnings results for Bigtincan Holdings, the ASX tech share reported some mixed results for H1 FY23.

On the plus side, revenue from ordinary activities increased 31% from H1 FY22 to $60.2 million.

And annual recurring revenue (ARR) of $130 million represented a record result.

This helped drive a 74% lift in adjusted earnings before income, taxes, depreciation and amortisation (EBITDA) to $2.1 million.

But investors look to be selling off the ASX tech share amid rising costs.

Operating expenses for the half year came in at $70.1 million, up 38% year on year. This saw the company book a loss after income tax of $18.2 million, compared to a loss of $10.5 million in H1 FY22.

That was reflected in a big fall in diluted earnings per share (EPS). That came in at negative 3.97 cents per share, down from negative 2.46 cents per share in the prior corresponding period.

Commenting on the results pressuring the ASX tech share today, Bigtincan CEO David Keane focused on the company’s boost in recurring revenues:

We are pleased to deliver another record ARR result in 1H FY23, with the Company continuing to deliver market leading products, win important customer deals, and progressing our commitment to materially improved adjusted EBITDA…

1H FY23 our Multi-Hub strategy continued to benefit the business with Multi-Hub ARR growing from 17% in the previous corresponding period, to 29% of total ARR at the end of 1H FY23.

The company reconfirmed its full-year guidance.

Which brings us to…

Praemium share price lifts on profit growth

The Praemium share price is charging higher post its half-year results.

The ASX tech share reported the divestment of its international operations was completed on 30 June. Its Australian segment is now the company’s sole focus.

Investor interest looks to be piqued today by a big lift in statutory net profit after tax (NPAT) to $9.1 million. Revenue of $35.4 million was up 17% year on year.

Praemium also reported record half-year EBITDA of $11.4 million, up 52% from H1 FY22.

Also during the six-month period, the company paid a 5 cents per share, fully franked special dividend on 10 August. And it kicked off a $25 million share buyback, with $6.6 million deployed as at 31 December.

Funds under management on the investment platform grew 6% from 30 June to reach $42.7 billion.

Commenting on the results boosting the ASX tech share today, CEO Anthony Wamsteker said:

The 2023 financial half-year has seen key strategic decisions pay off with increased profitability and enhanced shareholder returns. This result, derived from strong net funds flow, margin expansion and discipline on costs, has delivered a step change improvement in operating leverage.

The post 2 ASX tech shares making massive moves right now on earnings updates appeared first on The Motley Fool Australia.

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More reading

• Could 2023 be the year these ASX AI stocks come roaring back?

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 Bigtincan and Praemium. The Motley Fool Australia has positions in and has recommended Bigtincan. The Motley Fool Australia has recommended Praemium. 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 has rocketed to its highest price since the onset of the COVID-19 pandemic amid the company’s takeover talks.

The energy producer and retailer is currently the subject of a long-standing takeover bid from a consortium made up of Brookfield Asset Management and MidOcean Energy.

Right now, the Origin share price is $8.16, 0.99% higher than its previous close. That’s also its highest point since February 2020.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is plummeting 1.4% right now.

Meanwhile, the company’s home sector – the S&P/ASX 200 Utilities Index (ASX: XUJ) – is down 0.29%, with stock in peers AGL Energy Limited (ASX: AGL) and APA Group (ASX: APA) falling 0.51% and 1.52% respectively.

Let’s take a closer look at what’s been going on with the Origin share price lately.

Origin share price hits 3-year high on Monday

February has been a big month for the Origin share price, and an ultimately fruitful one at that.

That’s despite the stock plummeting 3% on the back of the energy giant’s half-year earnings, released on 16 February.

Within them, Origin revealed a $44 million underlying profit – down 83% year-on-year – and a 4% drop in earnings, coming in at around $1 billion. It also declared a 16.5 cent final dividend – up 32% year-on-year.

Fortunately, the stock gained back its earnings slump, and then some, when the company’s suitor seemingly surprised the market by only lowering its takeover bid by 10 cents per share following an extended period of due diligence.

The offer now stands at $8.90 per share. That will be reduced by the value of any dividends paid to Origin investors before the deal closes, including the company’s recently declared final payout.

Origin still thinks the offer could deliver significant value to investors and, thus, will continue engaging with the consortium.

The Origin share price is currently 7% higher than it was at the start of 2023. It has also gained 43% since this time last year.

For comparison, the ASX 200 has lifted 4% year to date and 2% over the last 12 months.

The post Why did the Origin share price just hit a 3-year high? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Origin, Santos, Service Stream, and WiseTech shares are racing higher
• Origin share price surges 14% despite lower takeover bid
• Origin Energy share price drops on underlying profit tumbling 83%

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 positions in and has recommended Brookfield Asset Management. The Motley Fool Australia has positions in and has recommended Apa 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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