Reporting Season is underway, let’s have a look at some companies reporting today:
Reporting Season 13/08/2024 Watchlist Update: (Market Close 14/08/2024)
The big winner out of these stocks in Temple & Webster ASX:TPW. After a healthy 33.6% pull back, the share price is well and truly found its mojo once again.
Netwealth ASX:NWL is a great company that, not for the first time, fell short over very lofty market expectations. EBITDA still rose 23.8% which is still a great result and the company is confident that the momentum will continue.
Reporting Season 13/08/2024 Watchlist Update 12:06PM:
The market is having an efficient day with no surprises here. Everything that should be up is up and everything that should be down is down.
Reporting Season 13/08/2024 Watchlist at the Open:
Abacus Storage King ASX:ASK
https://abacusgroup.com.au/investor-centre/abacus-storage-king/
Beat
Wow, I never realised how much jargon they use in this sector. I haven’t looked at a property trust report for years but I would have thought it would have been one of the most straight forward reports to read but I was wrong. I’ve got to say I think it’s ridiculous. Anyway, from what I can decipher this looks like a slight beat. ($81.1M profit vs $79.8M expected).
ASX:ASK 5 minute chart so far today.
Challenger ASX:CGF
https://www.challenger.com.au/
Beat
Net Profit Before Tax: $608M vs $594.5M (up 17% on last year)
EPS Normalised: 60.9c vs 56c (up 14% on last year)
A strong result for what’s normally a pretty steady company.
ASX:CGF 5 minute chart so far today.
Netwealth ASX:NWL
https://www.netwealth.com.au/web
Slight Miss
Total Income: $255.2M vs $258.1M expected (up 18.9% on last year)
EBITDA: $124.7M vs $127.5M expected (up 23.8% on last year)
It’s still a great result but the market had very high expectations with a PER of 58 based on this year’s profit.
ASX:NWL 5 minute chart so far today.
Seek ASX:SEK
Big Miss
Revenue: $1084.1M vs $1148.4M expected (down 6% for the year)
EBITDA: $468.9M vs 492.3M expected (down 14% for the year)
Yet another disappointing result for Seek. 2 years ago the share price was $36. Today they are just under $20. Did someone say LinkedIn?
ASX:SEK 5 minute chart so far today.
Temple & Webster ASX:TPW
https://www.templeandwebstergroup.com.au/Home/
Beat
Revenue: $498M vs 496.6M (up 26% for the year)
EBITDA: $13.1M vs $10.81M (down from $14.8M for the year but not mentioned in the result)
Easily the stock of the day. When I saw the result I thought about taking a position. It looked for a while before market open that they would open up around 6%. That soon jumped to 26% and needless to say Temple & Webster remains a stock I do not hold. JB Hi Fi reported a resilient result yesterday. Nick Scali’s result was also well received. Perhaps there a few other quality retailers that have not reported that could be worth a look at in anticipation of a better than expected result. AX1, SUL, LOV all off the top of my head. This could be results season where retailers shine not for being brilliant but for not being as bad as expected.
EBITDA is up around 22% on what was expected hence the price is up around the same amount hence why I was a keen buyer if I could get them for only a 6% rise!
ASX:TPW 5 minute chart so far today.
CSL ASX:CSL
Slight Miss
Revenue $14.8B vs $14.687B (up 11% over last year)
Very confusing how they report their results for NPAT. My main takeaway is that they are forecasting growth of 10-13% for 2025 while the analysts seem to have been expecting 16%.
Main business of blood products (which when I last looked accounted for around 70% of revenues) is still humming along. The result isn’t good enough to dig deeper at this stage but needless to say the Vifor acquisition is looking more and more like a poor decision. I suspect CSL remains trapped in this sideways range for at least another 6 months now.
ASX:CSL 5 minute chart so far today.
James Hardie ASX:JHX
https://ir.jameshardie.com.au/
Slight Miss or even an In-line.
This company is going nowhere currently in terms of growth so I’m not going to delve into the result. It wasn’t bad under the circumstance but it’s just the wrong part of the cycle at the moment. The market didn’t like the result initially but the price has recovered somewhat.
ASX:JHX 5 minute chart so far today.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or if they need advice, seek it from a qualified financial adviser.
Reporting Season 13/08/2024 – Today I have a look at ASX:ASK, ASX:TPW, ASX:CFG, ASX:SEK, ASX:NWL, ASX:JHX & ASX:CSL.