Reporting Calendar: Download here
Companies reporting today include: Harvey Norman (HVN), Independence Group (IGO), Mesoblast (MSB), PointsBet (PBH), Regis Resources (RRL), Sandfire Resources (SRF) + Webjet (WEB) AGM
Companies on MM’s radar include:
- Harvey Norman (HVN) FY21 Results: Expectations for revenue of $3.87b, EBITDA of $1.239b, NPAT of $699.55m (up 45.5% on FY20), EPS of $0.56, FY21 DPS of $0.41, Market currently pricing NPAT for FY22 of $495m, down ~30% on FY21. (MM Comment…
- Independence Group (IGO) FY21 Results: Expectations for revenue of ~$900m, EBITDA of $560b, NPAT of $150m (up 28% on FY20) , EPS of $0.23, FY21 DPS of $0.01 , Market currently pricing NPAT for FY22 of $240m, up ~60% on FY21. (MM Comment…A big year for IGO who have transitioned into a business that is 100% focussed on clean energy metals following the sale of their Gold assets to Regis Resources (RRL). Today’s result is a slight beat to expectations on both revenue and profit, NPAT of $164m when stripping out the gains from the sale of Tropicana compares to $150m expected…Overall, slight beat)
- PointsBet (PBH) FY21 Results: Expectations for revenue of $195m & a pre-tax loss of -$175m, Market currently pricing revenue for FY22 of $359m up ~84% on FY21 & a pre-tax loss of -200m (MM Comment…In Australia PBH has gone from 90,422 active client at the end of FY20 to 196,585 today. Over that same period in the US, they have gone from 20,939 to 159,321, clearly huge growth and the US is where the future lies. In terms of today’s financial metrics, revenue of $194.7m was as expected while a loss of $164.3m will not be a surprise. Conference call on at 11am with more details to come after that. Overall, strong / inline financially however growth the key)
- Regis Resources (RRL) FY21 Results: Expectations for revenue of $811m, EBITDA of $374.3, NPAT of $141m (down ~30% on FY20) , EPS of $0.234, FY21 DPS of $0.081 , Market currently pricing NPAT for FY22 of $223m, up ~57% on FY21. (MM Comment…It’s been a big year for RRL buying Tropicana from Independence Group (IGO) – a large capital raise and the share price has been very weak as a result. Today’s result is a slight beat on most metrics however it’s all now ahead of them – FY22 the key here…Overall, slight beat on FY21 although dividend a tad light)
NB: Results will be covered on the MM Website throughout the day: Visit www.marketmatters.com.au
