Reporting Calendar: Download here
Companies reporting today include: Bega Cheese (BGA). Lynas Corp. (LYC), Mayne Pharma (MYX), Mesoblast (MSB), NextDC (NXT), Waypoint REIT (WPR), Wesfarmers (WES)
Companies on MM’s radar include:
- Bega Cheese (BGA) FY21 Results: Expectations for revenue of $2.22b, EBITDA of $137m, NPAT of $41m (up ~29% on FY20), EPS of $0.128, FY21 Dividend of $0.106. Market currently pricing NPAT for FY22 of $84.6m, up ~105% on FY21. (MM Comment…Reported EBITDA of $141.7m this morning a shade above expectations with profit of $39.6m a shade below. Overall sales were around 5% below consensus while the dividend of $0.10 was inline. It was a big year for Bega having doubled in size post the $528m purchase of Lion Dairy & Drinks which results in a large equity raise. No FY22 Guidance provided. Overall, solid / inline)
- Lynas Corp. (LYC) FY21 Results: Expectations for revenue of $505m, EBITDA of $250m, NPAT of $163m (up from a $19m loss in FY20), EPS of $0.19, No Dividend. Market currently pricing NPAT for FY22 of $237m, up ~45% on FY21. (MM Comment…Financial metrics slightly lower than expected with revenue and profit ~3% shy of consensus, although still solid growth on FY20 and the commentary was positive around the dynamics of the Rare Earth market. Overall, slight miss)
- NextDC (NXT): FY21 Results: Expectations for revenue of $250m, EBITDA of $131m, post tax loss of ~13m (higher than $11.7m loss in FY20), EPS of -$0.027, No Dividend. Market currently pricing NPAT for FY22 of $14m, up on FY21. (MM Comment…Revenue of $246.1m was at the lower end of the companies upgraded guidance of $246-$251m and the market was at $250m, so a slight miss there however underlying EBITDA of $134.5m was a touch above guidance of $130-133m and above consensus. They provided FY22 guidance for underlying EBITDA of $160-165m which is inline with current expectations of $162m although revenue guidance slightly below current consensus. Overall, inline)
- Wesfarmers (WES) FY21 Results: Expectations for revenue of $33.61b, EBIT of $3.67bn, NPAT of $2.36bn (up ~13% on FY20), EPS of $2.10, FY21 Dividend of $1.85. Market currently pricing NPAT for FY22 of $2.3bn, down ~2.5% on FY21. (MM Comment…A solid year fo growth for WES with financial metrics all inline to slightly above expectations, FY dividend of $1.78 was a shade below the $1.85 expected. No guidance issued which is the norm for WES however in their retail operations sales are lower in the first 7 weeks of the year due to lock downs, Bunnings off 4.7%. Overall, inline but a great year overall)
NB: Results will be covered on the MM Website throughout the day: Visit www.marketmatters.com.au
