The ASX saw a number of companies reporting their financial results today on another bumper day of February earnings season.
Here are 5 ASX shares that performed exceptionally well today, with positive market reactions pushing the share prices of these top ASX performers higher by the end of the day.
Austal Limited (ASX: ASB)
The ASX shipbuilder saw strong share price growth today on the back its half-year earnings release. With this, the Austal share price closed the day 6.57% higher.
This morning, Austal reported a very strong 22% increase in revenue to $1.04 billion, driven by a strong performance from both its US and Australia-based shipbuilding businesses.
Earnings before interest and tax (EBIT) grew even more impressively, coming in 47% on the prior corresponding period (pcp) at $59.9 million up 48%. Improving margins in the US was behind this strong result.
Lendlease Group (ASX: LLC)
Lendlease also saw its share price rise by 6.71% today, driven by a very favourable market reaction to its half-year earnings.
The property and infrastructure group came in with a solid set of numbers despite challenging market conditions. Lendlease reported operating earnings before interest, tax, depreciation and amortisation (EBITDA) of $628 million, a decline of 3% on the pcp.
Lendlease's funds under management (FUM) was $37 billion, representing an 8% rise on the pcp. Key highlights included the group securing 2 major urbanisation projects, located in London and the San Francisco Bay Area, and the listing of Lendlease Global Commercial REIT on the Singapore Exchange.
Perpetual Limited (ASX: PPT)
The Perpetual share price notched a big 11.14% gain today as the company's 1H20 results positively surprised the market.
The financial services provider reported $263.5 million in revenue for the half, an increase of $1.2 million over the pcp.
Meanwhile, Perpetual Investments' funds under management slumped to $26.3 billion in the first half, down from $27.2 billion in 2H19 and $27.7 billion in 1H19. More positively, Perpetual Investments saw $1.3 billion net flows into cash and fixed income in the second quarter, marking the first quarter of positive flows for 10 quarters.
Pacific Smiles Group Ltd (ASX: PSQ)
ASX small cap Pacific Smiles saw its share price surge by today by 10.22% after the company released a strong set of financial results to the market.
The results were underpinned by a 14.5% increase in patient fees to $105.4 million for the half-year. Pacific Centres also reported opening 4 new dental centres during the six-month period, taking the total tally to 93 centres as at 31 December 2019.
Pacific Smiles increased its guidance for FY20 EBITDA growth and said it has a healthy pipeline of development opportunities for the second half of FY20.
Southern Cross Media Group Ltd (ASX: SXL)
Despite very challenging market conditions, Southern Cross Media was able to deliver 1H20 results this morning in line with guidance. This surprised the market, with the Southern Cross Media share price jumping by 13.91% at the close of trade.
Southern Cross Media saw revenue decline to $308.1 million in 1H20, down 8.2% from $335.7 million in 1H19. In today's release, the company advised that advertising markets remain challenging across January and February with similar levels of trading to the first half of the year.
