3 top results you might have missed on Wednesday

The Cleanaway Waste Management Ltd (ASX:CWY) result is one of three that you might have missed on Wednesday. Here’s what you need to know…

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Disappointing results

On what was the busiest day of earnings season so far with countless results releases from companies including A2 Milk Company Ltd (ASX: A2M), Coca-Cola Amatil Ltd (ASX: CCL), and WiseTech Global Ltd (ASX: WTC), I would be surprised if a few slipped under the radar.

Three strong results that were easily missed are summarised below:

The Cleanaway Waste Management Ltd (ASX: CWY) share price rose almost 7% to $2.00 on Wednesday after reporting a 17.9% increase in gross revenue to $1,714.3 million and a 42.5% increase in statutory net profit after tax to $97.8 million. Earnings per share grew 27.2% on a statutory basis to 5.6 cents. As well as solid organic growth, Cleanaway benefited from the inclusion of the acquired Tox Free Solutions business for the last seven weeks of the financial year.

The Moelis Australia Ltd (ASX: MOE) share price fell 1.5% to $6.00 despite the financial services company posting a record half-year result. Moelis posted an impressive 85% increase in underlying net profit after tax to $15.2 million. Earnings per share rose 36% to 9.9 cents, meaning its shares are now changing hands at 32x annualised earnings. Investors may believes its shares are fully valued at this level.

The Over The Wire Holdings Ltd (ASX: OTW) share price rocketed 20.5% higher to $4.24 today. Investors responded incredibly positively to the telecommunications, cloud and IT solutions provider’s strong full year results. Over The Wire delivered total revenue growth of 57% to $53.5 million and net profit after tax growth of 54% to $5.5 million. The company’s Data Networks segment was the star performer, delivering revenue of $29.4 million, up 85% on the prior corresponding period. Management believes the result endorses its strategy of delivering organic growth through geographic expansion complemented by quality acquisitions. Pleasingly, it is happy with the current position of the business and believes it to be well positioned to continue delivering on its strategy. This could make it worth a closer look.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk and WiseTech Global. The Motley Fool Australia has recommended Coca-Cola Amatil Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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