HUB +4.84%: Delivering a great set of results on a day when the market gets clobbered is never going to get the outcome it deserves, however HUB finished up ~5% in a market that fell -1% within a sector that led the decline down by -3.20%. This morning HUB released 1H22 results that were broadly in line at revenues ($81.6m) and well ahead of expectations in terms of underlying EBITDA ($29.7m up 76% YoY) and net profit ($14.2m up 80% YoY). They also increased their Funds Under Administration (FUA) target to $83bn – $92bn by FY24 (previously $63bn – $70bn by FY23. Importantly, margins also rose in an environment where competitors margins fell. Our Shaw Analyst James Bisinella said: HUB has been indiscriminately lumped in with other platform providers who have seen operating expenses track ahead of market expectations, mainly due to aggressive headcount growth (HUB traded down 8% on NWL result). HUB in our view deserves to trade well higher in light of today’s result which beat our estimates whilst the market was likely pricing in a miss, plus platform FUA target was upgraded and platform revenue margins flat.
scroll
Question asked
Question asked
Question asked
Question asked
Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
Close
Performance for February & 4 stocks we like here and now
Close
Thursday 28th March – DOW up +477pts, SPI up +60pts
Close
MM remains long & bullish HUB
Add To Hit List
Related Q&A
How should we handle the recent rally in SEK, AD8, HUB, REA & ALL?
What’s MM’s favourite 5 stocks for short term bull run?
Why does MM prefer HUB over NWL?
HUB 24 (HUB) research
Relevant suggested news and content from the site
Podcast
LISTEN
Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
Daily Podcast Direct from the Desk
Video
WATCH
Performance for February & 4 stocks we like here and now
Recorder Friday 8th March
Podcast
LISTEN
Thursday 28th March – DOW up +477pts, SPI up +60pts
Daily Podcast Direct from the Desk
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.