It's ASX reporting season! Here's what to watch out for this week

The ASX reporting season is upon us and will be like no other we have seen. Here's what to look out for in this week's round of ASX reporting.

pencils, pen, note pad, paper clips and folder entitled annual report signifying asx reporting season

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX reporting season is upon us. Every August, a large number of the companies on the ASX report their full year results. This allows investors to gauge performances over the past 12 months and get some insight into future performance.

This reporting season, however, is unlike any other. The effects of coronavirus will be apparent in many companies' financial results. For most, the pandemic has had a negative impact. But for a few, it has driven sales and revenues to new heights. Here's what to look out for during this week of ASX reporting season. 

What's happening in ASX reporting season this week?

Monday 

The week starts with a bang and when Aurizon Holdings Ltd (ASX: AZJ) releases its full year report. Australia's largest rail-based transport business, Aurizon has been fighting the ACCC in court over the latter's decision to oppose Aurizon's proposed sale of its Acacia Ridge Terminal. In June, Aurizon confirmed underlying earnings before interest, taxes, depreciation and amortisation (EBIT) guidance of $880 million to $930 million for FY20. 

Tuesday

On Tuesday, it will be time to take a look at the financial sector with Challenger Ltd (ASX: CGF) providing its results. The wealth manager was subject to volatile investment markets over the second half of FY20 which may impact on results. The Challenger share price is yet to recover from the March downturn, remaining nearly 60% down from its high for the year. 

Wednesday 

On Wednesday, we hear more from the financial sector with Magellan Financial Group Ltd (ASX: MFG) reporting. The Magellan share price fell on Friday despite the wealth manager reporting an increase in funds under management. Commonwealth Bank Bank of Australia (ASX: CBA) is also due to release its full year results. Investors are eager to see whether the bank will pay a final dividend, and if so, its size. 

Thursday

Come Thursday, it's time to hear from AGL Energy Limited (ASX: AGL) and Breville Group Ltd (ASX: BRG). AGL has predicted full year profits will be in the upper half of its guidance range of $780 million to $860 million. The Breville share price hit a record high last week with the appliance maker reporting strong sales throughout the pandemic. 

Friday 

On Friday it's the miners' turn, with Newcrest Mining Limited (ASX: NCM) and Iluka Resources Limited (ASX: ILU) reporting. The Newcrest share price has recently hit all time highs off the strength of the gold price. Iluka saw its mineral sands revenue decline 16% in the half year to June compared to the prior corresponding period, reflecting the impact of COVID-19 on key markets. 

Motley Fool contributor Kate O'Brien has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia has recommended Aurizon Holdings 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.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »