The pandemic was not good for SSM with a slower roll out of NBN connections, complexity and cost around staffing plus they underwent a large ~$185m capital raise at 90c (SSM had a market cap of $400m at the time) to acquire Lendlease Services for $310m – clearly a lot going on under the hood of the infrastructure services business. Their upcoming 1H results scheduled for the 24th February will determine whether or not we remain patient or move on. The most important aspect of the result is around guidance, obviously for FY22 (market is expecting net profit of $36m from revenue of $1.3bn) but perhaps more importantly around the momentum building for FY23 which is where the numbers should really kick up pushing SSM down to just 9x earnings with a 5.75% fully franked dividend yield.
scroll
Question asked
Question asked
Question asked
Question asked
Question asked
Question asked
Question asked
Question asked
Question asked
PULSE CHECK WEBINAR: Portfolio positioning towards FY26
Close
Friday 30th May – Dow up +117pts, SPI down -17pts
Close
Gerrish: The correction is done, we’re positioning for what comes next
Close
Active Growth Portfolio – Showing Weighted Beta
Close
MM will assess SSM again post 1H22 results
Add To Hit List
Related Q&A
Thoughts on SSM & SFR, please
Thoughts on Emeco (EHL) & Service Stream (SSM) please
What’s MM thoughts on SSM from here?
Is SSM the great dividend stock it would appear?
What is MM’s yield estimate for SSM?
What to do with Service Stream (SSM)?
Service Stream (SSM)
What to do with Service Stream (SSM)?
Service Stream (SSM)
Relevant suggested news and content from the site

Video
WATCH
PULSE CHECK WEBINAR: Portfolio positioning towards FY26
FY26 is shaping up as a year where strategic portfolio positioning will matter more than ever. Hear from James Gerrish & Shawn Hickman as they detail MM's current views.

Podcast
LISTEN
Friday 30th May – Dow up +117pts, SPI down -17pts
Daily Podcast Direct from the Desk

Video
WATCH
Gerrish: The correction is done, we’re positioning for what comes next
The Market Matters lead portfolio manager talks the recent recovery, Trump, gold, and why he thinks there's plenty of opportunities.


chart
Active Growth Portfolio – Showing Weighted Beta
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.