Author: Harry Watt
BAP -7.93%: 1H result for the auto parts business today, a tough first test for the new CEO Noel Meehan the day after he was appointed. Revenue was slightly higher to $900m, but EBITDA (-6%, $137m) and NPAT (-14%, $61m) both fell.
MIN -8.91%: Missed 1H22 earnings expectations delivering a loss for the period even when Lithium prices skyrocketed. A few issues for MIN in the near term however the ~10% drop today is starting to look interesting.
MQG +3.89%: a record quarter for Australia’s largest Investment Bank today saw shares rally back above $200. The strong performance was driven by the market facing business that benefitted from strong investments and trading revenues.
ANZ -1.92%: the second bank out with a trading update, ANZ disappointed on most fronts, weighing on the financials sector. Net Interest Margin (NIM) continued its slide, down 8bps vs the 2H21 average to just 1.57% in the quarter.
WBC +2.28%: the first of the banks to present the quarterly update and they led the way with a strong result. Cash earnings of $41.58b was 1% higher than the 2H21 average and a 7% beat to consensus
NCK +0.97%: a choppy day for the furniture retailer, but shares closed higher in the end reflecting the small beat. Revenue was up 5.4% on last year to $180m, though earnings fell 6.6% to $35.6m in the half as various COVID related costs jumped
AMC -3.54%: global packaging giant Amcor fell today after the release of their first half numbers. Revenue jumped 12%, nearly topping $US7b, largely driven by price increases which accounted for 11%.
ABB –1.42%: todays quarterly update a touch soft in terms of guidance but still showed strong growth. Total connections at 494.8k was right at the top of guidance provided in December, jumping nearly 10% in the quarter.
ANN -14.34%: the healthcare and industrials supplies company was smacked to 18+ month lows today after it flagged a number of issues leading into the half year result. Sales for the half are expected to jump ~7% to $US1,009m however a big jump in costs will weigh on margins with profit to take a ~25% hit.
DUB -6.84%: started well however the cloud based communications business rolled off into the close following the release of their 2Qtr results. Average Reoccurring Revenue (ARR) jumped over to $50m for the first time with the fastest net add rate on record
