At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and has dropped into the red. The benchmark index is currently down 0.4% to 7,217.4 points.
Here's what is happening on the ASX 200 today:
BHP half year results impress
The BHP Group Ltd (ASX: BHP) share price is pushing higher today after its half year results beat the market's expectations. The mining giant reported a 27% increase in revenue to US$30,527 million and a 57% jump in underlying profit to US$9,715 million. Goldman Sachs commented: "Better than expected result with underlying EBITDA/NPAT (incl Petroleum) of US$21.4bn/US$10.7bn, +7%/+5% vs our US$20.0bn/US$10.1bn estimates (and vs. Visible Alpha consensus of US$19.9bn/US$9.6bn)."
SEEK delivers better than expected half year result
The SEEK Limited (ASX: SEK) share price is surging higher after its half year results impressed. The job listings company reported a 59% increase in revenue to $517.2 million and a 147% lift in reported net profit after tax (before significant items) to $124.2 million. Goldman notes that its revenue and net profit were 4% and 20% ahead of consensus estimates and even further ahead of its own forecasts. SEEK also upgraded its FY 2022 guidance to levels well-ahead of current estimates.
Ansell posts profit decline
As forewarned in a recent trading update, Ansell Limited (ASX: ANN) has posted a sharp decline in first half earnings. This morning the safety products company reported a 7.6% increase in sales to ~US$1 billion but a 27% decline in profits to US$77.6 million. Ansell's earnings were impacted by weaker EBIT margins. This includes impacts from COVID manufacturing disruptions and higher freight costs.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the Sims Ltd (ASX: SGM) share price with a gain of 17%. This follows the release of a very strong half year result this morning. The worst performer has been the Beach Energy Ltd (ASX: BPT) share price with a 9% decline. This morning analysts at Macquarie downgraded the company's shares to an underperform rating with a $1.50 price target.
