Tuesday has drawn to a close… it's the second day of the week and the market is alight with ASX shares reporting earnings. Markets reacted with cheer to today's big-name results with an acquisition announcement thrown into the mix.
We'll quickly unpack today's results and then wrap it back up for tomorrow:
Those that delivered today
Challenger Ltd (ASX: CGF)
Shares in the investment management company increased 1.9% to $5.89. This followed the release of the company's FY21 results and the announcements of the CEO's retirement.
The takeaway points:
- Net income down 14% to $682 million.
- Normalised net profit after tax down 19% to $279 million.
- Group assets under management (AUM) up 29% to $110.0 billion.
- Fully franked, full-year dividend of 20.0 cents per share, up 2.5 cents per share on FY2020.
- Managing Director and CEO Richard Howes to step down in March 2022
Megaport Ltd (ASX: MP1)
The Megaport share price gained 3.05%, putting it at $17.90 by the close of the ASX today. The move followed the interconnection services company reporting its strong full-year results to the ASX. Additionally, Megaport also announced the acquisition of an AI-powered multi-cloud company known as InnovoEdge.
The takeaway points:
- Revenue increased 35% year on year to $78.28 million.
- Monthly recurring revenue (MRR) jumped 32% to $7.5 million (annualises to $90 million)
- Customers increased 443, or 24%, to 2,285
- Ports grew 1,922, or 33%, to 7,689
- Average revenue per port down $2 to $978
- Net loss of $55 million but cash position of $136.3 million
- US$15 million acquisition of InnovoEdge
James Hardie Industries PLC (ASX: JHX)
Lastly, shares in James Hardie jumped 2.9% to $49.32 today. At one point, the ASX-listed materials manufacturer surpassed the $50 barrier, setting a record high. The price appreciation followed a solid first-quarter result.
The takeaway points:
- Sales up 35% over the prior corresponding period to US$843.3 million
- Adjusted earnings before interest and tax (EBIT) jumped 45% to $180.5 million
- Net income up 50% to US$134.2 million
- Operating cash flow down 3% to US$184.1 million
- Full year net income guidance upgraded
ASX shares reporting tomorrow
Wednesday is set to be a big one with a few more results to be reported by ASX-listed companies. These include Commonwealth Bank of Australia (ASX: CBA), Insurance Australia Group Ltd (ASX: IAG), and Mineral Resources Ltd (ASX: MIN).
